Here’s what I would like to have heard when I started to invest:
- Invest in yourself. I am not talking about higher education, because I hold a PhD and I regret having gotten it. The sweet spot of the ratio money / higher education is about the BSc, if not earlier. I am talking about financial education. Think about it. People spend tens or even hundreds of thousands on higher education, but they invest a few hundreds, at most, on educating them financially. Why would that be less valuable, if you could do great investments throughout your life and pay off your investment (say on books and courses) 10 times? I challenged myself to read over 150 books (many I read already but I will be re-reading them) till the end of 2017 (in particular, between January and October 2017 I will read and comment on 100 books or 10 books a month), and provide comments and reviews, thus ranking them. I guess that given the type of books I am compiling, this could be interesting to you, as I am all over the best books on personal finance, business, economics and what not.
- ETFs are good friends. Low cost, easy to rebalance, problem-free. I personally prefer them over mutual funds, but thats just me, evaluate at your own cost:
- Real Estate is my cup of tea and clearly my favorite type of investment. For people willing to commit to a geographical region, I personally think that multi-unit houses are a great way to start building real wealth. Live in one unit, rent the others out.