Today’s Smart Investor tip comes from an oldie but goodie
blog postby our friend
Neal Frankle of Wealth Pilgrim.
Frankle details four investing tips he learned simply by hitting up the gym after work. They’re each unique and true to a fault. Here’s our favourite:
Ignore Insider tips & Shortcuts:
I remember sitting on my stationary bike or running on the treadmill and listening to the people on my right and left as they shared weight training and weight loss secrets. Even though I saw lots of people share tips, I rarely heard any two people share the same hush-hush tidbit.
Everyone had their own ideas about workout success. But when it comes to being fit, I don’t think there really are any secrets. If you want to be healthy it’s a question of energy in vs. energy out. Diet and Exercise. Just do it Simple.
It’s no different when it comes to money. In order to build wealth, you have to watch your spending, save well and invest wisely. Sure there is some learning involved but that’s the easy part.
Lack of understanding isn’t what stands in the way of most people’s financial success. It’s the willingness to do the hard work every day that gets us off track. Many of us look for the short cuts to wealth and when we do so, it usually ends up badly.