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Simple wealth inevitable wealth (4. behaving your way to wealth (BEHAVIOR…
Simple wealth inevitable wealth
1. Finding financial advisor
1%
help you emotionally.
useful during tough time.
from friends, recommendations,
2. Be owner, not loaner
Equity= Owner
Bond= lender
Owner take larger risk, lender less
Owner always get more income
3. Risk
what the real risk isn;t
Buy equity, hold equity, the rest is commentary
risk isn't holding the equity
volatility isn't risk, it's opportunity
longest down time for S&P is 3.5 years.
what the real risk is
Journalism
real risk= selling
Bond and FD are risky
4. behaving your way to wealth
BEHAVIOR makes you wealthy
equity doesn't
THE ONLY PRINCIPLE:
buy when you have money, sell you when need money
invest consistenty every month consistently
Do not time the market! no one can!
Growing a fund portfolio:
Don't confuse active vs passive fund- it's about cost
do not overdiversity
What to do?
Choose a range of share and stick with it every month
The only thing we have to fear is fear itself