Forbes magazine just published its 2014 Investment Guide Special Issue which contains 365 Ways to Get Rich. It’s a worthwhile read. Even though novices like me can’t pretend to understand things like: “Pay attention to the wash sale rules when harvesting capital loses” and “Always keep some investment powder dry”, there is a ton of good investment advice, humor and good life advice as well.
Investment and Savings Advice
Invest at the point of maximum optimism. – Sir John Templeton
Remember Enron; reduce your employer’s company stock in your 401(K).
Raise the deductibles on your auto and home insurance.
Watch out for stock hoaxes on Twitter.
Most people don’t need a whole life policy, buy a 20 year term policy before your first child is born.
The four most dangerous words in investing are: this time it’s different. – Sir John Templeton
Buy Stocks like socks, good quality on sale.
Tune out the financial TV channels. Watch the cooking channel or the gardening channel if you want useful advice.
Go for a business that any idiot can run – because sooner or later, any idiot is probably going to run it. – Peter Lynch
Remain anonymous after winning the Powerball lottery.
Marty a billionaire, or perhaps even more rewarding, divorce one.
To keep peace with both relatives and the IRS, document all family loans.
Adopt simple rules and stick to them. – Benjamin Graham
Write down your passwords and hide them; tell one person where they are.
Time is your friend, impulse is your enemy. – John Bogle
I assume someone is going to put all of the 365 Ways on a calendar eventually. In the mean time, it’s worthwhile to read through all of them and jot down a few of your favorite ways to save money next year.