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Buy and Hedge: The 5 Iron Rules for Investing Over the Long Term by Wayne Ferbert, Jay Pestrichelli

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3. Don’t Forget Why You Invest

“How many yachts can you water-ski behind? How much is enough?”

—Bud Fox (played by Charlie Sheen) to Gordon Gekko (played by Michael Douglas) in the critically acclaimed movie Wall Street (1987)

Thought we’d keep using movie quotes and not include one from Wall Street?

Everyone invests for a reason. These reasons are most often life goals such as retirement, a second home, or a dream vacation. Maybe your retirement includes water-skiing behind interchangeable yachts. More likely, it involves a much simpler existence. But either way, this goal is probably a long-term goal. For you to achieve it, your assets must grow to provide you the buying power you need to fund that goal.

So let’s agree that investing is a means ...

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