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Maybe you have a lucky friend or family member who took the only $10,000 they had, bought a hot tech stock, then cashed out with double their money. That’s a gambler, not an investor. You need to know the difference. Gamblers rely on luck and chance – maybe you’ll roll double-sixes, maybe you’ll get snake eyes. Investors put their cash only into things they understand, that have been proven to work time and again. They rarely hit the jackpot, but they also rarely lose it all either, and history says they’ll make money. Which do you want to be?
GET IN THE HABIT:
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MINIMIZE INVESTMENT COSTS. MORE FEES AND EXPENSES MEANS MORE MONEY YOU’LL NEED TO MAKE TO BREAK EVEN. | |
USE INDEX FUNDS FOR SIMPLE, LOW-FEE, COMPETITIVE AND DIVERSE INVESTING. |
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FOCUS ON SIMPLE CHOICES. | |
THINK LONG-TERM, EVEN IF NO ONE ELSE DOES. |
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DON’T MAKE QUICK INVESTMENT DECISIONS WHILE YOU ARE IN A STATE OF PANIC. SNAP DECISIONS ARE OFTEN THE WRONG ONES. | |
IF YOU DON’T UNDERSTAND IT, DON’T INVEST IN IT. |
