Learn more about moneyandinvestments with this collection
How to manage risk
How to analyze investment opportunities
The importance of long-term planning
Never Lose Money
- Rule No 1: Never lose money.
- Rule No 2: Never forget rule No. 1.
If you work from a loss, it's much harder to get back to where you started, not to mention earn gains.
4.03K
26.9K reads
MORE IDEAS ON THIS
Learn About Money
Part of investing in yourself should be learning about managing money. Risk comes from not knowing what you're doing. Educate yourself about personal finance. Read a lot. Make sure you get to bed smarter.
3.98K
14.9K reads
Money is a Long-Term Game
Invest with the future in mind. A tree planted today will give shade in the future. Nurturing seed of financial success now will lead to shade later on, for example, freedom from debts, a secure retirement or college fees for your children.
3.57K
14.6K reads
High Value at a Low Price
- Price = what you pay.
- Value = what you get.
You lose money when the price you pay does not match the value you're getting. For example, when you're paying high interest on credit card debt or spending on stuff you hardly use.
...3.87K
17.5K reads
Avoid Debt
Warren Buffet built his wealth by getting interests to work for him.
- Many people fail because of liquor and borrowed money. You can make a lot of money without borrowing.
- Avoid credit cards, because the interest rates are very high on them. “Sometimes they are 18 percent. S...
3.45K
15.2K reads
Low-Cost Index Fund
For the average investor, Warren Buffet advocates for index funds.
- Put 10 % of the cash in short-term government bonds.
- Put 90 % in a very low-cost S&P 500 index fund.
4.04K
15.1K reads
Form Healthy Money Habits
Most of your behavior is habitual. You can change your habits and the earlier you start, the better.
Saving is a habit. Learn the habits of saving properly early. Pay attention to your money habits. Strengthen those habits that help your finances, and break the habits that hurt your finance...
3.7K
16.8K reads
Keep Cash On Hand
To ensure security, always keep cash or cash equivalent reserves available.
Businesses and individuals may desire to put liquid cash to work through investments. When bills are due, only cash is legal tender. Be sure to have it on hand.
3.41K
15.5K reads
Give Back
Warren Buffet said that if you're in the luckiest 1% of humanity, you owe it to the rest of humanity to think about the other 99 %.
You can enrich your life and others' by giving back.
3.38K
14.1K reads
Invest in Yourself
You are your own biggest asset. Invest as much of yourself as you can. Improve your own talents and make yourself more valuable. Nobody can tax or steal it.
If you are addicted to your salary there is no way you can become rich.
4.57K
17.1K reads
CURATED FROM
CURATED BY
Unbelievable how basic these are, but they made Buffet one of the richest man alive.
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Stoic Path To Wealth: Lose Money
We all have loss aversion, preferring to avoid losses even with the opportunity cost of gaining profits. Losing money, in fact, is a necessary rite of passage that most are not okay with.
The best investors are the ones losing money, but who are smart enough to never lose more than 10 per...
4 Life-Changing Ideas About Money
Ramit Sethi lists his favourite approaches to money:
- Behavior trumps information. Knowing the perfect right answer is less important than taking action. Focus on small, innocuous behaviors. Like saving small every month.
- Focus on getting things 85% righ...
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