”Investing should be a permanent... - Deepstash
Jamie DIMON, CEO OF JP MORGAN

”Investing should be a permanent thing. Save, invest. Save, invest. Guessing at market tops, market bottoms – that is a complete loser’s game. I’ve never seen anyone win at it. The smartest investor in the world, Warren Buffett, would say that is not the way to invest.” 

JAMIE DIMON, CEO OF JP MORGAN

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MORE IDEAS FROM Earn, Save, Invest: 3 Rich Habits for Life - Darius Foroux

Last but not the least , invest what you save.

Get the basics for investing right

  • Have a emergency corpus
  • Invest in real estate
  • Max out your retirement accounts
  • Invest in Gold
  • Invest in Equity everything else remaining

It's important to note that trading is kot a fool proof way to make money . People who actually make good money from it might be far and less. Follow the invest and forget policy if you can . Investments in equity will pay off in the long run, and as with anything else compounding will do its job.

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Earning more

Though earning more is obviously about making money, it's not a quick process or straightforward process. Most of the time a person who is on a long journey for wealth will need to spend time for knowledge.

Learn more to earn more - Darius Foroux

Also earning money is not a 100m dash but a marathon. It does not have to be about making fast money but about making steady progress.




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Think Rich

Becoming wealthy is not about earning more , though earning more might definitely help. Even if you don't earn a lot you could be on rhe path to wealth by having good financial habits

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The habit of saving more

One mistake that most people do when they start earning more is allowing lifestyle creep. The ideal way to wealth is to let your expenses stay the same while your earnings increase, which in corollary would mean you create more savings, year on year. This should not also mean that you be thrifty to the extent of denying yourself necessities. Strike a balance.

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RELATED IDEA

How to get wealthy

You don't need to earn a lot of money to become rich if you have healthy financial habits.

If you want to get wealthy, you need to consider three things:

  1. Earn
  2. Save
  3. Invest.

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A Definition of Personal Finance

Personal finance is about managing your own money - how much you spend, save, get into debt, and invest.

How you manage your money will depend on your age, education, ambition, family, and country of residence. While this guide will give you enough input to work out a strategy, you should always consider your own personal situation.

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Is a myth you can only invest if you have lots of money. Investing is not a goal, activity, or task, it’s a habit. It’s something you do regularly, just like you work out, meditate, read or anything else that takes time to yield results.

ex: If you invest $500/mo in the S&P500 (an index of the largest US companies) you will get to $1M in 35 years. The S&P500 grows 8% a year on average and it compounds over time.

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