Learn more about moneyandinvestments with this collection
Identifying and eliminating unnecessary expenses
How to negotiate better deals
Understanding the importance of saving
You Don’t Need a Financial Advisor
- A financial advisor’s compensation is rarely if ever tied to your success. The majority of their income is based upon the amount they get you to invest.
- You will pay a fee to your chosen fund plus a fee to the financial advisor.
- You Might Not Get The Best Financial Advisor. Would you even be able to tell the difference between a good financial advisor if you had a chance to talk with 100 of them? Or will you go with the best salesmen?
- It is neither difficult nor time-consuming to invest yourself because you're just going to mirror the market average.
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MORE IDEAS ON THIS
Investing
... is the trading of your money today for a lot more money in the future. It is a high yield over the long term.
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What happens to your money
Banks don’t like to give away their money. That mindset is reflected in the interest rates of checking and savings accounts of 0,5% and 0.9% avg. annual interest respectively.
When you deposit your money in the bank, the bank turns around and invests that money at 7% a year or more. ...
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3 base components of the market
- Productivity Growth: Equivalent to technology getting better, faster and us constantly learning from our mistakes. We will always be able to do more with less time and resources than we were able to in the past.
- The Short-Term Debt Cycle is defined by...
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Portfolio and Diversification
- Your portfolio reflects your long-term wealth building investment strategy – not the short term. It includes everything you own. Your retirement accounts, your investment accounts, even your home are types of investments.
- Diversification is a way to describe owning mult...
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The Average Investor...
- does not try and time the market – buy low and sell high,
- also does not try to beat the market,
- just try and achieve average returns,
- realises that it does not involve a lot of work or stress and locks in a nice healthy return over the long term.
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The Average Investor’s Commandments
- Think Long-Term. It’s very rare for a sudden move in price to mean very much Things will balance out so be patient.
- Always keep a few months expenses around in case something happens and invest the rest.
- Buy What You Believe In. If you do not know or und...
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Other curated ideas on this topic:
Working with a financial adviser
Checking in with a financial adviser is strongly recommended by experienced investors, but make sure you're speaking with a fee-only expert, who isn't receiving commissions for steering you into one investment over another.
Once you find someone acting in your best interes...
You don’t need a huge target market
One of the main things that VCs are looking for is a huge target market, usually at least $1 billion, that you can address through your startup. The reason for this is simple: VCs invest in multiple startups with the understanding that some of them will fail, some of them will not grow very much,...
You don’t need a team
As a solo founder, I started off by breaking one of the cardinal VC rules that says you can’t build a successful startup on your own. Never mind the research that says solo-founded companies ar...
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