To build wealth it didn’t matter when you bought U.S. stocks, just that you bought them and kept buying them. It didn’t matter if valuations were high or low. It didn’t matter if you were in a bull market or a bear market. All that mattered was that you kept buying. (Location 105)
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It’s not about when to buy, how much to buy, or what to buy—just to keep buying. The idea seems simple because it is simple. Make it a habit to invest your money like you make it a habit to pay your rent or mortgage. Buy investments like you buy food—do it often. (Location 113)
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When we have the ability to save more, we should save more—and when we don’t, we should save less. We shouldn’t use static, unchanging rules because our finances are rarely static and unchanging. (Location 262)
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Though physical activity can have a moderate impact on weight, changes in diet seem to be more important. (Location 406)
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Increases in income aren’t followed by similar increases in spending. (Location 446)
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The most consistent way to get rich is to grow your income and invest in income-producing assets. (Location 510)
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If you want to save more, the main point is to tighten up where you can, then focus on increasing your income. (Location 513)
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Here are five methods you should consider: Sell Your Time/Expertise Sell a Skill/Service Teach People Sell a Product Climb the Corporate Ladder (Location 521)
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Regardless of how you try to increase your income in the future, all of the methods above should be viewed as temporary measures. I say temporary because, ultimately, your extra income should be used to acquire more income-producing assets. (Location 601)
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The end goal should be ownership—using your additional income to acquire more income-producing assets. (Location 614)
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Pink discusses how autonomy (being self-directed), mastery (improving your skills), and purpose (connecting to something bigger than yourself) are the key components to human motivation and satisfaction. (Location 724)
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Ultimately, you are the one that must figure out what you want out of life. Once you do, then spend your money accordingly. Otherwise you might end up living someone else’s dream rather than your own. (Location 756)
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The right time to buy a home is when you can meet the following conditions: You plan on being in that location for at least ten years. You have a stable personal and professional life. You can afford it. (Location 1224)
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Deciding to retire is far more than just a financial decision, it is a lifestyle decision too. So, in order to know when you can retire, you need to figure out what you will retire to. How will you spend your time? What social groups will you interact with? What will be your ultimate purpose? (Location 1537)
Despite how different your future self might be from your present self, research has shown that thinking about your future self is one of the best ways to improve your investment behavior. (Location 1615)
The best way to combat such emotional volatility is to focus on the long term. While this does not guarantee returns, the evidence of history suggests that, with enough time, stocks tend to make up for their periodic losses. Time is an equity investor’s friend. (Location 1777)
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You should invest as soon and as often as you can. (Location 2656)
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Given this information, below is the decade when your investment returns will matter most based on your year of birth (assuming you retire at 65): Born 1960 => 2025–2035 Born 1970 => 2035–2045 Born 1980 => 2045–2055 Born 1990 => 2055–2065 Born 2000 => 2065–2075 (Location 2780)
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sometimes the biggest risk you can take is taking no risk at all. (Location 2833)
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“Fear has a greater grasp on human action than does the impressive weight of historical evidence.” (Location 3060)
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