Thursday, December 14, 2023

Advice from Legendary Investors

Mark Seed of My Own Adviser writes a column on Advice from legendary investors.

Here are some of his thoughts and advice on money:
  • You should spend less than you make. This might require a budget.
  • You should establish and maintain an emergency fund. Ideally, at least a few months’ worth in cold-hard cash. (We have this and maintain this.)
  • You should make savings for investment purposes automatic.
  • You should invest a good portion of your savings for long-term growth; as in equities.
  • Once invested, you should keep your investing fees as low as possible for as long as possible. Avoid trading.
  • You should diversify your investments across companies, countries, and world economies.
  • You should obtain adequate life and disability insurance for the “what ifs” in life to protect against a catastrophic financial loss.
  • You should continue to educate yourself; continuous improvement will keep your mind growing and active.
  • Money doesn’t mean much if you don’t have your health. You should do what you can to stay healthy. Health is always the ultimate form of wealth.
On my other blog I wrote yesterday about Sienna Senior Living Inc (TSX-SIA, OTC-LWSCF) ... learn more. Next, I will write about Bird Construction Inc (TSX-BDT, OTC-BIRDF) ... learn more on Friday, December 15, 2023 around 5 pm.

This blog is meant for educational purposes only and is not to provide investment advice. I am not a licensed professional investment advisor. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

See my site for an index to these blog entries and for stocks followed. I have three blogs. The first talks only about specific stocks and is called Investment Talk. The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter. I am on Instagram. Or you can just Google #walktoronto spbrunner8166 to see my pictures.

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