History never repeats itself. Man always does.
Much of your success in life is a result of longevity.
Your ability to avoid self-destruction is far more important than any singular big brain move. Limit your risks, and the rewards come naturally.
Here’s everything you need to know.
1. Learn The Rules To The Game
The S&P 500 is down 17.62% over the past 12 months.
My investment portfolio is down 4.24% over the same timeframe.
This isn’t meant as a brag. It illustrates the power of paying attention.
The majority of people go through life doing the bare minimum.
They don’t research topics for themselves, or they get overwhelmed at the first hurdle they face. Learning even the most basic, 101 information gives you a serious advantage.
Knowing facts like 5 tech companies making up 22.9% of S&P 500, or September being the worst preforming month for investors, won’t make you a super trader. But it can help you to plan ahead.
If you’re going to play any game, learn the rules.
2. There’s $1 Million Of Wisdom Hidden In $6 Paperbacks
The smartest people throughout history have all written books or had books written about them.
Reading is easily the highest ROI activity you can engage in. And, you can often find life-changing knowledge tucked inside a reasonably priced book.
Like learning the rules, reading 1–3 quality books on a subject puts you at a huge advantage.
3. Don’t Over-Extend Yourself
If you keep your expenses low, it’s virtually impossible to go broke. At worst, you’re driving Uber or bagging groceries on the weekend to pay the bills.