Sometimes progress is as much about knowing what NOT to do, as it is about figuring out what to do. The path to growing wealth takes some basic building blocks, but it also requires avoiding certain mistakes along the way. You may not think a lot about it, but small missteps can have big, negative impacts on one’s wealth accumulation over time.
As we flip the page to December, we often turn our attention to shopping, holiday parties, gift giving and family gatherings. It may seem like just yesterday you were planning your 4th of July, or your week long summer vacation. Sure enough though, Thanksgiving has passed, electric bills are skyrocketing from all the lights and Christmas carols are playing 24/7 on the radio.
The party conventions are over. The political cycle is ramping up. And there is a great deal of noise and fury in the media about the presidential candidates and what the election could mean for business and markets. I write today, to you, MY constituents, investors, with my thoughts. It is not partisan, it is not agenda driven.
Federal Reserve this. Brexit vote that. Market highs and market lows. I have casual conversations getting my coffee in the morning, or out at the soccer field from time to time with people that know I’m “in the financial advising business.” It’s nice to talk about the headlines of the day. But I usually end these casual conversations the same way…