Lately in my world, there has been plenty of talk about change. Change comes in all shapes and sizes and forms; commercial and personal. Change will continue. It will continue for a long time to come. Enough of what you already know, let’s get to the meat and bones.
I found this article on the USA Today website, “A Financial Adviser’s Top 10 Investment Lessons Learned” and it is loaded with great advice.
The article’s content, while focusing on Finance, with a few minor tweaks can be applied to everyday life.
#1 Don’t Follow The Herd:
Be unique, be yourself. Just do your think and don’t worry about others.
#2 The best investment may be the one you don’t make:
Sometimes the best thing to do is to do nothing.
#3 Invest in your own human capital:
Invest in your own education. Invest in yourself (only of it makes you better)
#4 Avoid large holdings of your company stock:
If only you know what you are worth then it is safe to say you are worth nothing to anyone else. Spread the wealth.
#5 Don’t try to time the market:
There will NEVER be a perfect time. Pick the moment and dive right in. Win or lose
#6 Avoid the noise:
While mob mentality may be all the rage (well according to the news) it is not the way to get things done. If you find yourself in a place where everyone thinks alike then you are in the wrong place.
#7 Equities are for growth, and bonds help you sleep at night:
No matter what you do to pay your bills, be sure to pay yourself for the future.
#8 Implement a disciplined investment strategy and stick with it:
Habits are hard to make but once made they are easy to keep.
#9 Control your behavior:
Attitude, Self-respect, and Discipline are key to success. This applies to everything you do or plan to do.
#10 Time is your best friend:
Think long term, look at the big picture, and be in it for the long haul. The longer you do something, invest in something, and believe in something the better off you will be.
As you can see, with a minor tweak or two these 10 pieces of financial advice can be applied to just about anything in life. Try all ten for yourself and see what happens.
Title: A Financial Adviser’s Top 10 Investment Lessons Learned
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