I want to clarify something after yesterday’s discussion: I am neither liberal nor conservative. My political ideals are all over the map (though they make perfect sense to me). I am not a registered member of any political party. I don’t have a liberal agenda, but I don’t have a conservative one, either.
Consequently, I’m not trying to push any particular platform or ideology at Get Rich Slowly — I’m simply trying to provide inspirational stories and methods to help readers achieve financial success. To that end, I share a variety of viewpoints, some of which do not match with my own. Why? Because I can learn something even from those with whom I disagree. Because each of us is different, and there are many paths to wealth.
Here are some of those different paths:
At Men’s Health, financial guru Ben Stein has an article called “Read This, Retire Rich”. He writes:
Over the years, I’ve developed a few simple rules to invest by. I consider them the Zen of investing, because if you work at them, they eventually become instinctive. You won’t have to think about them. You’ll just abide by them.
His four simple rules?
- Instead of trying to time the market, try to tie it. Use index funds.
- When you’re tempted to sell, buy. “When the stock market puts a company on sale, it’s time to buy.”
- Collect sectors. Diversification is your friend.
- Invest in yourself (involuntarily). Sign up for an automatic savings plan.
On a related topic, Five Cent Nickel has a short but sweet explanation of shorting a stock. I’ve only bought and sold shares — I’ve never tried to do anything fancy. Shorting a stock can lead to big gains, but it can lead to big losses, too.
Meanwhile, Dawn at Queercents recently shared her thoughts on the character of thrift. “Thrift is not about skipping a meal or dressing poorly for the sake of a savings account. It is about having what you need and not buying what you don’t need.” I’m thrilled to have finally learned this for myself over the past year.
Finally, David at My Two Dollars writes that you are not your Stuff, and your Stuff is not you. “You are more than the sum of your Stuff, and the key to happiness is to start thinking as such. You are your health. You are your interests and hobbies. You are your relationships. You are your sense of purpose. You are your dreams.” Amen, brother!
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This article is about Spare Change