- Pay off high interest rate debts first
- Compound interest is amazing
- In theory: buy low, sell high.
- In practice: you mostly don't know what's high/low.
- Avoid buying into the clearly overhyped
- If it's clearly worth selling, it's probably too late to sell high.
- Diversified stocks for long term gains (short term unstable)
- Bonds for short term stability (middling long term gains)
- Possibly worthwhile as you near retirement
- Alternatively, just make enough money that the instability of stocks isn't an issue
- Diversify! Don't put all your $$$ in one place.
- Don't put all your $$$ in tech (tech bubbles have wrecked people)
- Don't put all your $$$ in crypto (tech bubbles have wrecked people)
- Don't put all your $$$ in your house (housing bubbles have wrecked people)
- Don't put all your $$$ in real estate (housing bubbles have wrecked people)
- Don't put all your $$$ in anything (bubbles have wrecked people)
- Since I work in tech, I consider investing less in tech (even though I know it better!) so a tech bubble is less likely to cost me my job and savings at the same time.
- Diversify! Consider having at least two accounts in entirely separate financial institutions.
- Bernie Madoff should only be able to run off with half your savings
- Your bank having a freakout and locking your account might only lock up half your savings
- Won't prevent the feds from freezing both accounts though.
- Use your employer's 401k matching for great profit
- Avoid early 401k withdrawls and associated penalties
- Have an emergency savings fund.
- Retirement Plans: Last Week Tonight with John Oliver (HBO) warns about financial advisors etc.
- Mike Monteiro: F*ck You, Pay Me discusses contract negotiation, getting paid by clients, lawyers, etc.