- Confirmation bias can be an easy thing to fall prey to and happens often when it comes to investing.
- There are three things to prevent you from succumbing to confirmation bias: take a second look, seek expert advice, and know your risks.
- When we get distracted from our goals in life, it’s important to have a system to help us continually progress.
- There are three simple sets to use to help you progress: Goals, Types of Days, and Action Items.
- When tackling important items for the day, always start with the hardest item first thing in the morning.
- There are 4 money corners to think about: save, spend, tax, and invest.
- If you save 15% of your income first, then look at spending on your needs, then your wants last, you will be in good financial shape.
- Diversifying your investments will ensure you are able to better handle an economic downturn.
- We can let wealth define our character, or we can have our character define our wealth.
- The 4 key money characteristics are prudence, responsibility, humility, and gratefulness.
- You can match these characteristics up with the way you deal with your wealth, and how your wealth deals with the outside world.