Lesson 2: Another thing that i learned from this book is that we should differentiate our investments based on the goals and requirement of money, for example- if you want money within 3 years, you should invest it in cash equivalents and cash, if you want the money in next 5 years then you should invest or save in bonds, and you should only invest the money in stocks when you dont need the money for longterm
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Similar ideas to Goal based investing approach
Invest in index funds not individual stocks. Put your own behavioral psychology to work here. Invest automatically and over long periods of time.
Once you’ve covered the basics (aka index funds), allocate 5-7% of your income to “mental outlets.” This is money for you to inv...
It is anything that will increase your wealth without personal labor.
A good early retirement investing strategy should be simple, focused on stocks, bonds, and real estate, and be executed consistently.
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