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August 08, 2017


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I'm good with all of these, and have been for a very long time. It feels good! Would hate to live any other way.

Four more "behaviors" to add to that list: 1. You've chosen your spouse carefully. Divorce or being married to a profligate spender can decimate one's net worth! 2. You've chosen your financial investments with care, esp. if they seem too good to be true. See Bernie Madoff. 3. You've diversified your asset allocation: not just an IRA and/or a house, but also side businesses, online income, rental property, monetization of hobbies, etc. Multiple streams of income, esp. passive! 4. You're taking care of your health. Something like 80% of people's savings are decimated the last two years of life. Bonus behavior: You've mastered a skill and/or are working for yourself, and are commanding exceptionally high income!

Couple more: 5. You pay attention to financial news: trends in housing prices, local and national; looming recessions ahead; political instability. Keeping an eye out for devastating black swan events. Example: The 2008 financial crisis was reported by several notable writers about three months ahead of the meltdown: "Epic recession ahead! Get out of the stock market now!" was their message. 6. You educate yourself by reading financial blogs, esp. great ones like this one!

Good luck trying to time the market based on what the talking heads say, recipe for severely under performing the market.


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