The title of this post is my basic philosophy when it comes to investing. It has served me well and think that it is good advice for others. The first part which is to start early is a universal sentiment and not controversial. There is no one out there recommending to not invest or sayingContinue reading “Start Early, Buy Stocks, Ignore Bonds”
Tag Archives: Savings
Make Sure You Understand Deferred Interest!
The holiday season is time where people can get themselves into financial trouble because of their very best intentions. This is due to a lack of real understanding about interest-free purchases over a specific timeframe such as 12, 18, or 24 months. Many people will reach for large purchases and use these deals to helpContinue reading “Make Sure You Understand Deferred Interest!”
Track Your Money
A boss of mine years ago explained to me that if you want to effect change in some way the most powerful way to do that is to track whatever it is. That is an incredibly powerful idea and I wholeheartedly believe in it. I attempt to use it in many aspects of my lifeContinue reading “Track Your Money”
Is being rich the same as being wealthy?
Like most good questions the answer lies in the gray area. Sometimes the two mean the same thing, however, other times you can be one without being the other. Plenty of rich famous people have declared bankruptcy and plenty of wealthy people have to live very frugal lifestyles. As for myself, by any measure, I’mContinue reading “Is being rich the same as being wealthy?”
Don’t swing for the fences with money you can’t afford to lose!
My grandfather loved to gamble. He taught me card games and how to play craps well before I was old enough to gamble myself. However, he as also adamant about telling me to never ever ever gamble with the “house money”. That is, don’t ever risk the money that you simply can’t afford to lose.Continue reading “Don’t swing for the fences with money you can’t afford to lose!”
Always try to have a little cash
One thing that I have learned over the years is the importance of having at least a small amount of cash available to invest for those moments where an opportunity presents itself. To be able to “buy low and sell high” you have to actually be able to buy when things are low and theContinue reading “Always try to have a little cash”
The Rule of 72
I recently learned about this simple yet very powerful math shortcut that I have to share. The Rule of 72 is a simple math shortcut that can be used to quickly figure out the amount of time it will take for money to double at a fixed rate of interest. The way it works isContinue reading “The Rule of 72”
Patient and Disciplined Saving 