Chapter 9. Appreciate the Value of Holding on to What You Have
What’s the most important rule about investing? Don’t lose the money. When you think about everything that went into your ability to save and invest, you realize that the money represents respect for what you have accomplished as an investor. We’ve already talked a little about the transition from human capital to financial capital, and we’re all aware that as you get older the opportunities for replacing money you’ve lost may be diminished.
What are all the ways you could lose money?
You Could Misplace It
How many people lose $20 bills because they put them in a pair of pants and forget about them? They go into a pocket 5 years later and say, “Look at this! I have a $20 bill in ...
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