Finances/Investing

by RICARDO
(USA)

Ricardo here! I thought that I would add some thoughts & suggestions on money matters, saving, investing etc.

These basic principles have worked for me over the years, and worked reasonably well at minimal cost!NEVER spend more than you make, if you do, you will ALWAYS be in debt.

Invest routinely, even if it is a minimal amount, it is called dollar cost averaging, investing when the market is up OR, down.Pay yourself FIRST. When you have enough saved,invest in LOW COST index funds(Fidelity, Vanguard) are excellent. You will NEVER beat the market, BUT, routine investing over the years pays off.

Research the miracle of COMPOUNDING. Review the "rule of 72." It is a simple formula that suggests dividing 72 by the interest rate to determine how many years it will take to DOUBLE your money!

Keep your investment costs as LOW as possible. Diversify your investments.

Living in America is a TREMENDOUS advantage! Be greedy when others are fearful&fearful when others ate greedy.

Perhaps the most important in life, THE GOLDEN RULE, treat others as YOU would be treated.

I shared thoughts and opinions recently with my grandson. I wish that someone would have shared them with ME, when I was his age.

Peace&love....NO ONE cares more about your health&finances than YOU!!

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