Below you’ll find some of the principles I’ve learned from various books, blog and articles which I try to keep in mind.
- Just Keep Buying. Buy and Hold. Don’t speculate or mentally masturbate.
- Time in the market beats timing the market.
- Invest 25% of monthly income into ETF’s / Assets.
- An initial sum of money invested does more than small sums every year for a long time.
- Subtract. Don’t buy stupid shit or go into debt. Congrats. You are ahead of the curve.
- Ignore all advice without skin in the game.
- Automate your finances so the default is investing.
- Retirement is not an age. It is a financial state.
- Don’t lose money, due to compounding you have to earn even more to get it back.
- The reason you want wealth is that it buys you freedom.
- When you’re in your 20s and even early 30s try to stack a ton of money upfront as it will snowball you forward for the rest of your life.
- Assets have a higher return than labor.
If you want to read some books about this I’d recommend Rich Dad Poor Dad, The E-Myth Revisited and I will teach you to be rich.