Everyone has their own opinion on where you should put your money. This blog focuses on the main pillars I have found to be the best which are: stock market, real estate, business.
Some people get started super early in life and these folks are well ahead of the bell curve to reach a stage in life where they can give more back to their communities and live a fuller life. Other people who start later in life can do just the same, it’s just going to take a little bit longer because you lost out on time – the most important resource.
This blog focuses on some principles of making money in the stock market. Some items are counter intuitive, but the value of the information should increase your financial IQ which will in turn allow you to make smart money decisions so you’re not forced to work the rest of your life.
Point 1 – bear markets happen every year and historically speaking there is a major crash every 7 years. When the crash happens, that means everything is 50% off, provided you are early in your investing career and about to retire. When a major market correct happens, buy more stocks/ETF’s because you’ll ride the upward swing farther down the line.
When the market breaks, there is an incredible opportunity out there. One of the most dangerous things you can in money is NOT being in the market. Keep disciplined, keep buying into the market, and let the nest egg grow. You shouldn’t even been looking at your portfolio from a trading perspective until you have 1 million in the bank.
Train yourself to be unattached, emotionally, to your money. This is how to master money and master your economic circumstance so you can have a fun, fruitful, colorful life.
Genghis Khan on the pursuit of a “colorful” life filled with material frivolities and wasteful pleasures – “It will be easy to forget your vision and purpose once you have fine clothes, fast horses, and beautiful women. You will be not better than a slave, and you will surely loose everything.”