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Some suggestions that should be a part of the solution you develop: - Invest part of it in investments that produce cash flow sufficient to cover a comfortable
by adrianscott 16y ago
Some suggestions that should be a part of the solution you develop:
- Invest part of it in investments that produce cash flow sufficient to cover a comfortable day-to-day lifestyle
- Based on things that are your passions, see if there is some aspect of that, that you can channel into an ongoing self-education about financial management, investment and risk management
- Find 2 or 3 financial-investment-successful buddies (or more) with whom you can talk about investment stuff over a beer once a month or so.
Things you need from your personal finance plan:
- It needs to work in nonefficient markets (because that's what they are; e.g. ignore A Random Walk Down Wall St -- it's based on false assumptions)
- It needs to work if people lie to you (such as boards of directors of companies you buy stock in, see Enron etc)
- It needs to work if the U.S. currency becomes worth a lot less quickly in the coming years.
Hope this helps,
-A