No Worries: How to live a stress free financial life

It works because it has the best risk/reward characteristics of any portfolio. It allows you to stay invested.

What I am in search of is scalable businesses. An internet newsletter is a scalable business. It takes the same effort to write one copy as it does a million copies. The business can grow rapidly, without much increase in overhead. If you look at all the really profitable businesses out there, they are all scalable, weightless businesses. “Weightle

If you invest in an index, you get the returns of the index, which is very good; but you also get the volatility of the index, which is bad. If you invest in the stock market, as represented by a broad market index fund, you will experience all the volatility of the stock market—the ups and downs, the highs and lows. And so will your emotions.

The idea is worth next to nothing. It is all in the execution. You have to go out there and do stuff. You solve one problem, and you solve another problem, and after you’ve solved all the problems that you can possibly solve, you get to sit on top of a big pile of cash.

Three ideas that will change your life All of this ties together—focusing on the revenue side, getting exposure to upside, and being positively exposed to luck. These three ideas will change your life. People view their financial lives very narrowly: “I go to work and do a job, I get a paycheck, and I go home.” It is true what they say: the rich de

So the ideal portfolio should have stocks, bonds, cash, gold, and real estate. In what proportions? Well, why not keep it simple and give 20% to each? 20% stocks 20% bonds 20% cash 20% gold 20% real estate This is what I call the Awesome Portfolio.

An asset that goes up 4% in straight-line fashion is potentially more valuable than an asset that goes up 8% with lots of volatility. Why? Because we’re human beings and we have emotions, and we are all hard-wired to be terrible investors.

They certainly wouldn’t tip someone 50% on purpose, because they see money as a zero-sum game. If you get less, then I get more. Their sole purpose in life is to accumulate as much wealth as possible, one nickel at a time, until the end, and—then what? What was all that effort for? What was the purpose? They work and save, and work and save, and ne

When I think of making more money, that’s the first thing that I think of—all the good that I can do with it. You don’t have the ability to do any of these things if you don’t want money.