Sage financial advice is timeless, as illustrated by the following article by Knight Kiplinger. If you want a good financial resource, check out the Kiplinger newsletter.
Ten Timeless Financial Tips from Knight Kiplinger
- Wealth creation isn’t a matter of what you earn. It’s how much of it you save.
- Your biggest barrier to becoming rich is living like you’re rich before you are.
- Pay yourself first. Have retirement and other savings deducted from your paycheck. If there isn’t enough money left over for bills, cut your spending.
- No one ever got into trouble by borrowing too little.
- Conspicuous consumption will make you inconspicuously poor.
- The key to stock market success isn’t your timing of the market. It’s your time in the market — the longer, the better.
- Diversify, because every asset has its day in the sun — and its day in the doghouse.
- When others are selling investments, it’s usually a good time to buy. The foundations of great fortunes are laid in bear markets, not bull markets.
- Money can’t buy happiness, but it can make unhappiness easier to bear.
- Sharing your wealth with others is more fun than spending it on yourself.