Advice from Experience

This is a list (roughly in order of number of times I have come across it).

Regrets

  • Not sticking with simple index funds
  • Buying more house than needed
  • Regret selling when equities were low
  • Caring more about money than life.
  • Do not double down on losers
  • Employing leverage un-intelligently

Advice

  • Focus on Earnings and savings(aka net worth).
  • Invest early, Invest often
  • Spouses are expensive, pick wisely.
  • Small monthly recurring expenses are a wolf in sheep’s clothing. Cut them regularly.
  • Wall Street is like Vegas, 99% flashing lights, 1% good stuff.
  • Spend money on happiness, not things.
  • Being Humble Wins
  • Asset Allocation and IPS are important.
  • Learn about depreciation(cars, etc)
  • Keep expense ratios low(ER)
  • Set goals and aim to achieve them

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