Read? Way beyond Emergency Fund! (2)
Read? Investing Lessons From Conversation With Uncle8888 (1)
Two possible ways to become rich.
Recommended approach for the young ones.
This approach has the best chance of becoming rich!
- Work hard and work smart at your job to get more bonuses and wage increments.
- Get promoted every few years and climb up your corporate ladder.
- Save more.
- Invest but you can afford to take an easier approach with wealth preservation investing strategy which is likely to be less emotional. It is easier to execute with your ever increasing account size.
This can be highly emotional and difficult path to take to become rich from stocks with some saving from your not-so-high earned income through many market cycles of Bulls and Bears.
You have to develop your powerful inner Strength to absorb all the hard punches from Mr Market, the Greatest Grand Master of All Times without suffering from permanent inner injury and losing your Wu Kung.
Why choose to continue with the Second Path when income dividend investing strategy is obviously easier to execute with his much larger Account Size and War Chest than in 2000?
But, over the next few market cycles, Uncle8888 will have the luxury of more spare time to study, record and write out his Kung Fu Manual and pass it to the next generation.
"For the things we have to learn before we can do them, we learn by doing them." - Aristotle
Picture from Bro LP's blog.
Read? Master the Art of Formless Form - The Greatest of All Kung Fu in Investing