Wealth Insights
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The Value of Having a Financial Advisor
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The Importance of Having a Financial Plan
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The 9 Most Important Investment Principles to Follow When Investing
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Stress Testing Your Portfolio.
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10 Rules for Successful Stock Investing
Wealth Decision #8- Don't Borrow Money to Buy Stocks
James Montier once said, "Leverage can never turn a bad investment into a good one, but it has the potential to turn a good investment into a bad one by forcing you to sell at just the wrong point in time."
Investing with borrowed money or buying on margin is one of the greatest ways to 2-3x your returns but is also a good way to 2-3x your losses. I learned this valuable lesson early in my investing life along with many others in the tech boom and bust from 1999-2000.
Wealth Decision #5- Don't Just Invest in Your 401k
If all of your money is in a Traditional 401k, every dime you take out when you retire will be taxable. We don’t know where tax rates will be 10 or 20 years from now, so having all your money in a tax-deferred account doesn’t give you a lot of control. It is crucial to not just have investment diversification, but also account diversification. Account diversification gives you more flexibility and tax control.
Episode #3- Investing In High Quality Stocks
It has often been said that “the biggest risk of all is not taking one.”
Early in my investing life, I always tried to find the next Amazon, Netflix, or Microsoft. I found stocks that did well in the short term, chased momentum growth stocks, and invested in smaller companies thinking I was smarter than the rest of the market. If I had a process for investing in companies like I do today, my success would have been substantially greater.
In The Wealth Decisions Podcast- Episode #3, I discuss The 5 Rules for Successful Stock Investing.
The Wealth Decisions Podcast
Each week on the Wealth Decisions Podcast I discuss crucial wealth decisions and mindset hacks to help individuals build and keep more of their wealth so that they can live a richer life. You can listen to the podcast on Apple Podcasts or Spotify. Click the link below
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