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The BIG list of great money advice
- The Joneses aren’t as rich or happy as you think.
- Get rich quick and get poor quick are sides of the same coin.
- Your life is a better benchmark than the S&P 500 Index.
- The more complicated the investment advice, the more expensive and the less useful.
- Spend less than you make. Always.
- Ask about anything you don’t understand.
- There is no such thing as job security.
- A house is a place to live, not an investment.
- The only sure thing about stocks is that there are no sure things.
- Stocks tend to pay well precisely because they are volatile.
- Your mortgage broker is lying to you about how much house you can afford.
- A raise in income shouldn’t mean a raise in lifestyle.
- Forecasting is for weather people.
- Never reach for yield.
- Excess is never permanent.
- You will never have “enough” money.
- There is an inverse correlation between performance and time spent watching financial news.
- Diversification must occur within and between asset classes.
- If it depreciates, don’t pay interest on it (I’m looking at you, cars).
- You don’t have to be rich to invest, but you have to invest to be rich.
- Invest in your mind and your skills first.
- Infrequent splurges bring the greatest happiness.
- If it seems too good to be true, it is.
- Max out your 401k match and contribution before you even consider watching financial news.
- Einstein never said that thing about compound interest but it’s still magical.
- If you’re excited about an investment, it’s probably a bad idea.
- A penny saved is more than a penny earned.
- Market corrections come more regularly than birthdays – expect them.
- Debt is a four letter word too.