Having lost large amounts of money on assorted useless things, enterprises and vices at different points what I can tell you is :
1) don't put your money into something you don't really understand. If someone has to explain it to you as to why its good for you should put your money into something - run right away from there. 2) if you cannot take your money out quickly ( i mean right away) don't put your money there 3) even following points 1) and 2) its quite possible you may lose capital, but the important thing is it will be your own conscious decision - and that way you will not have any regrets :-) On 30 September 2014 09:11, skn <[email protected]> wrote: > Hi all, > > All this talk about retirement and how closely coupled it is with > financial freedom got me thinking (more) about financial planning. > > I was wondering how my fellow Silkers (is that how we are collectively > called?) have been (or have already) preparing for financial > independence in the later years? What are the good financial principles > to live by? Some of the things I have been trying to get my head around > are about property as an investment, (long term) investing in company > shares vs. index funds vs. mutual funds, % income to save vs. how much > to invest vs. how much that can be spent (given I have very young kids) > etc. etc. > > Any insights, life lessons? > > -skn- > >
