1. Bonds are for storing wealth and equities are for creation of wealth.
2. In my opinion, the biggest asset one can have is zero debt.
3. The greatest discipline in personal finance is living below your means.
4. As Ben Carlson says, emotions cannot be back tested. That's why past bear market looks like job
opportunities and future ones scary.
5. Early financial independence and early retirement are completely different. To me, the former is a
blessing and the latter is a curse.
6. Don't think how it would have been if you've started 10 years ago. Start today and visualise how
you would feel 10 years from now.
7. The neighbourhood we live determines our life style and spending. Need to be careful in choosing
one which matches our goals and personality.
8. Paying minimum balance regularly on credit card is the maximum sign that you're getting into
debt trap.
9. Many are long term investors till next bear market.
10. Don't take aggressive bets. Take measured risk. Remember one blunder can push you back by a
decade or more in terms of wealth.
11. Big money can be made through high savings, wise investing and lots of patience.
12. One sign of progress in individual's portfolio is no churn or very less churn.
13. Trying to get rich fast is a foolproof way to lose what we have.
14. Losing opportunities is far better than losing money. Don't invest in fads.
15. "Making as much money as quickly as possible" is not an investment strategy. Unfortunately for
for most of us that is the strategy.
16. Aggressive strategy cannot be a substitute for high savings. Save high and take moderate risk than
saving less and taking high risk.
17. The day we realise not losing is as important as winning; we would stop blindly chasing returns.
18. Good periods are more than bad periods. By not timing, though we go through bad periods, do not
miss even a single good period.
19. We'll stop looking for quick money the moment we consider stocks as businesses and realise that
our wealth grows in line with business growth.
20. There are periods of high returns, low returns, no returns and negative returns. We need to go
through all these to get long term returns.
21. Listening to market forecasts is not only useless but can be very harmful too; if you start acting on
them.
22. The hard truth is only around 3% of our population are in a position to aspire for financial
independence. Don't waste this rare privilege.
Tailpiece.
Was up before 6, opened up the house but the music took its time to come on because of a technical hitch! The Rangoli was nice. The chores, followed by breakfast.
Our Chevy is only gonna be ready by the 9th. Consequently, fixed up a cab for tomorrow, Vishnu will be the chauffeur. The winding up process was set in motion.
Since it looked a wet day, the clothes weren't washed and were piled up for Suma, at Guruvayur.
Told Chakki and her kids about our departure tomorrow. Did they understand what I said? I'd like to believe, they did. The caretaker will take care of them; that's our relief!
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