Wealth is options, options are freedom. Get wealthy as fast as you can if you want freedom.
Ask HN: What is the best financial advice someone has ever given you?
11–20 of 62 posts
Re: Ask HN: What is the best financial advice someone has ever given you?
#12"Buy it right, or buy it twice"
Re: Ask HN: What is the best financial advice someone has ever given you?
#13That the nature of the stock market is such that it is always reaching all time highs. If you look back at any 5 year window historically on the S&P500 for the last hundred years, instantaeneously it will always seem like we are teetering at the top of an apocalyptic bubble. But stocks go up. Keep to a schedule of blindly buying index funds regardless of market conditions, being unafraid to DCA on the way down, and you are guaranteed to do well on a 10 year time frame.
Re: Ask HN: What is the best financial advice someone has ever given you?
#14Diversification is for poor people
You concentrate wealth to get wealthy, you diversify to stay wealthy.
Re: Ask HN: What is the best financial advice someone has ever given you?
#15Diversification is for poor people
Why is that?
Re: Ask HN: What is the best financial advice someone has ever given you?
#16That land is more valuable than money. Reminded of this while watching Lakota Nation vs United States. The Oceti Sakowin refuse the just-compensation settlement claim for the Black Hills; a people can live many generations on the land, while money is an intermediary and too easily lost.
Re: Ask HN: What is the best financial advice someone has ever given you?
#17Re: Ask HN: What is the best financial advice someone has ever given you?
#18That land is more valuable than money. Reminded of this while watching Lakota Nation vs United States. The Oceti Sakowin refuse the just-compensation settlement claim for the Black Hills; a people can live many generations on the land, while money is an intermediary and too easily lost.
Yeah, I've noticed that. I've had the chance to meet with people who have their fortune on land. they might not have a lot in their wallet. but the amount of land they have is enough to build a small city.
Re: Ask HN: What is the best financial advice someone has ever given you?
#19Compound interest. Save early.
The trick with compound interest is to find something that beats inflation, because inflation compounds more quickly than your savings interest.
Re: Ask HN: What is the best financial advice someone has ever given you?
#20Invest in skills that pay money and spend less then you make. Skills are key because they’re inflation-proof, and no person or government can ever take them away
I always try to learn new things, and new skills that allow me to be able to get income even in a crisis.
but how do you expand that so it doesn't depend on you, In the end, our body has an expiration date.