The basic math notations we learned in elementary school can be very helpful in framing the foundational building blocks for a sound financial life .
Here are my Top 14:
1. Good behavior > Good investments2. Emotions < Evidence3. Saving/Investing = Admission to “Futureville”4. Not Saving/Investing = The path to financial failure5. Responding to market noise = What brokers want6. A financial plan > An investment portfolio7. Thinking you know more than the market = Fantasy8. Relying on “advice” from brokers = Dangerous9. Long term market history > Predictions about the future10. Constant restlessness < Satisficing happiness (enough)Related:
Is Life a Game of Chess or Poker?11. Goals focused > Market focused12. Real answers > Appealing fiction13. More control ≠ Better outcomes14. Good intentions < Actual actions
The entirety of financial planning is built around funding your spending in the future. Everything else is commentary. Start there.
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