Yesterday we asked you about the best advice you would give your younger self.
We received hundreds of answers.
Here are the 10 BEST pieces of advice:
1. Just start
The best time to plant a tree was 20 years ago.
The second best time is today.
2. Pay yourself first
Save at least 10% of your income every single month.
Use it to invest in assets.
3. Don't try to time the market
Time in the market > timing the market.
4. Dollar-cost average
Invest a certain percentage of your income in stocks every single month.
5. Invest in yourself
The best investment you can make, is one in yourself.
Follow courses, read books and search a good mentor.
6. The power of consistency
Good things take time.
People overestimate what they can do in a year, and underestimate what they can do in a decade.
7. Never use leverage or shorts
Good investing is consistently doing above average without taking too much risk.
8. Let your winners run
The worst mistake you can make as an investor, is selling your winners too early.
9. Use volatility to your advantage
Volatility offers huge opportunities for rational investors.
In the long run, stocks will evolve to their intrinsic value.
10. If it seems to good to be true it often is
Moonshots almost always miss the mark.
Never invest in the next big thing.
11. Prioritize your health
True wealth is being healthy and having time to spend time with your loved ones.
12. Don't forget to live
Be frugal, but not to the point of regretting it later.
Memories and life experiences are important too.
13. Find a good mentor
A good mentor is the best gift you can ever receive.
14. Buy good companies
Quality companies are the only companies you can hold forever.
Focus on stocks with a sustainable competitive advantage.
15. Set your goals
Determine what you want to achieve financially.
To achieve your goals, you need a clear path.
If you liked this, you'll love our website.
▪️ Each Tuesday we share 5 investment insights
▪️ Each Thursday we publish a deeper investment article
qualitycompounding.substack.com/p/how-to-inves…
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