Complete Tips In The Book How To Save and Invest Well Easily

By passing your way to wealth: fix your compass route to direct the direction of real wealth, Paul Heys separates myths and non-features on investing facts and practical strategies that will help you learn how to save, spend and investing judiciously. Since the Great Depression has been so necessary if necessary because we continue to deal with the financial turmoil caused by the recent coronavir pandemic.

Heys served as Vice President in Smith Barney, where he accumulated a wealth of ideas on investment. He has also been a flight instructor that learned to teach others how to do complicated things, sometimes tedious, thoughtfully and calmly. This background has paid off your way to wealth an easy guide to any investor would be beneficial. Learning to invest properly taking a thought and, as the Heys reveal in these pages, a strong ability to stay calm when markets will not do what you want.

Heys begins by meeting readers where they are. He explains that the actions that may want to take when the investment is normal and that he explores the psychology of why we make these decisions. As he shows, nothing is wrong to be normal, but we want to go to "normal more" by learning to prevent us from preventing the consequences that normal behavior could cause. It uses ulysses metaphor and sirens to describe our own stress need. Ulysses had his men attach it to the ship's mast when they passed the sirens to be able to hear their beautiful music but withstand the temptation to join them, which would have resulted in its destruction. Similarly, we must tackle the mast when we invest in restricting us from the knee force, short-term decisions that will harm our long-term goals.

Before discussing investing, Heys asks us to look at how we spend our money and how it reflects that we are normal. I particularly appreciated his introduction of the concept of "spill". Turn over, it's when we spend money beyond what we need to spend. For example, the generic brand of spaghetti sauce can meet our needs. The dear name mark is more than necessary. The difference between the price of the generic brand and the brand name is the money we spent money spent that did not need to be spent and that it could have been saved and invested. However, as it is normal that we thought that the brand name is better, we are willing to return money on it. We also tend to do things like supposing that a bottle of more expensive wine is greater than a more expensive, although Heys reveals that studies show people when they did not say the price, can see that they get more enjoying wine cheaper.

One of the greatest ways we spread money is with our credit cards, which allows us to buy things we do not need or can not afford. Heys offers tips for managing our credit cards and we definitely need help because only 35% of people pay their credit cards each month. The others reverse their money by making minimal payments and do not pay high interest rates that can even make the purchase of the generic brand of Spaghetti sauce, when they are charged to a credit card, several times more expensive than If we bought the name mark. Heys pursues to discuss the difference between price and value and how understanding can teach us how to avoid. He also advocates for keeping a monthly newspaper aware of the amount of exceedance. More importantly, it makes us aware of how a small spill can be detrimental to our future. For example, if we leave a light for twenty-four hours that does not need to be on, it will cost us 14 cents. Over time, it will add up to $ 77,680 in a life and if this money has been invested more than forty years, $ 367,895. Who could not use an additional one million dollars or dollars? So why do we want to leaving lights? Exciting this light can mean the difference between life in style that we are used to retirement and watch every penny.

Heys then continues investment advice. It is more detailed than I can not cover here, but he explores investment behavior against investor behavior, he demystifies the risks and examine uncontrollants such as "do not invest any more than you can not afford. to lose." He advocates investing in a long-term index fund directly from Warren Buffett. It also reminds us how everything is relatively so that we should not let others determine the value of an investment - it is not the price, but its ability to meet our current and future needs. We do not have to continue after an investment with a high risk that can provide us with 25% yield if a lower-risk investment that will provide 10% output will meet our retirement needs. I find this council comforting.

Above all, I appreciated in these subsequent chapters on the investment of the idea of ​​the idea that we need to prevent us - ourselves at the mast when investing. We can learn this constraint by dropping the noise. We do not have to follow the stock market every day; We can stop listening to all television experts; We do not even need to look at our statements daily, weekly or monthly. The quarter is sufficient, then we can adjust if necessary. The main point is to trust what the market over time always increases, and if we are in the long run, we will benefit from remaining the course.

In total, go through your way to wealth is the only book I know to reveal so many myths and misconceptions that many of us have a lot of investment. I felt relieved after reading the book because I realized what I had to do was much simpler than many people might think. I do not have to become an expert on the stock market. I just need to find a trusted financial advisor who will help me find the good funds for me. Then I have to contribute regularly to these funds and sit down and let them push without trying to manage them micro-manage. The message of this book is simple and more relevant than that of any other financial advisory book I have read and read many of them.

Why are these things not taught in our schools so we can all start saving early? Passing your path to wealth would be the perfect book to give each high school student as a graduation gift to start them on the right path. In fact, anyone interested in investing - and who should really be everyone since we should all retire - will benefit from reading this book, whatever its new or seasoned, they are like an investor. In addition, Heys provides valuable information on its website, including an investment calculator to help you follow what you spend on what it would be worth in the long run if you have invested it. Check it.

Source by Tyler Tichelaar