The Little Book of Main Street Money: 21 Simple Truths that Help Real People Make Real Money
Street Smart Tips for Main StreetContent from author Jonathan Clements1.Don’t pay an insurance company to shoulder risks you can afford to shoulder yourself.2.To make it easier to amass enough for retirement, aim to start saving no later than age 303.Make it a point to sock away tax refunds, year-end bonuses, overtime pay, and any other extra money you receive4.Mentally divide your portfolio into growth money and safe money – and expect a rough ride from the former and comfort from the latter5.The harder you try to beat the market, the more likely you are to fail, thanks to the investment costs involved.6.By building a portfolio that is unlikely to suffer big short-term losses, you should improve your long-run investment compounding.7.Unless your health is poor, plan on a retirement that lasts until age 90 – and maybe longer.8.Resist following the crowd, whether it’s chasing hot performers in bull markets or shunning stocks during market declines.9.Before purchasing a house, make sure you will stay put for at least five years and preferably longer.10.If you’re a conservative investor inclined to buy bonds, consider making extra principal payments on your mortgage instead.21 Simple Truths that Help Real People Make Real MoneyContent from author Jonathan Clements1.Our finances are bigger than a brokerage account2.We can’t have it all3.Moneycanbuy happiness – if we spend it carefully4.Even the best investors need to be great savers5.Time is as valuable as money6.No investment is risk-free7.Portfolio performance – it’s all in the mix8.Stocks are worth SOMETHING9.To add wealth, we need to overcome the subtractions10.Aiming for average is the only sure way to win11.Wild investments can tame our portfolios12.Short-term results matter to long-term investors13.A long life is a big risk14.Markets may be rational, but we aren’t15.Our homes are a fine investment that won’t appreciate much16.Paying off debts could be our best bond investment17.Saving taxes can cost us dearly18.A tax deferred is extra money made19.Insurance won’t make us any money – if we’re lucky20.Even if we have a will, we may not get our way21.Financial success: it’s about more than money