Boiler Room: The Official Stock Market Discussion

[KING WILL]

The answer to that is universal. Living beneath your means. That's the most important financing lesson anyone can learn. Whatever you make live below your means. Everything else comes after that.

I feel like the 5 most important financial rules are:

• Live beneath your means.
• Save and invest most of the difference created by rule 1 as well as extra money you come into, bonuses and job raises.
• Figure out the standard of living you're comfortable with and maintain that as long as possible. Avoid lifestyle creep.
• Never use debt to buy anything that depreciates in value unless you have the cash to comfortably own it outright when you buy it.
• Never pay interest on a credit card.

I learned all that stuff the hard way cause in my 20s I broke all those rules constantly and I was usually broke.

One of the better posts Ive read on any MB.

 

[KING WILL]

Came close to buying some calls on them a few days ago.

 

[UltimateHustler]

The answer to that is universal. Living beneath your means. That's the most important financing lesson anyone can learn. Whatever you make live below your means. Everything else comes after that.

I feel like the 5 most important financial rules are:

• Live beneath your means.
• Save and invest most of the difference created by rule 1 as well as extra money you come into, bonuses and job raises.
• Figure out the standard of living you're comfortable with and maintain that as long as possible. Avoid lifestyle creep.
• Never use debt to buy anything that depreciates in value unless you have the cash to comfortably own it outright when you buy it.
• Never pay interest on a credit card.

I learned all that stuff the hard way cause in my 20s I broke all those rules constantly and I was usually broke.

Great post- I fully agree and do all of the above.

That said occasionally I hear some creative wrinkles, strategies, or opportunities that I learn from so I try to stay curious.

 

[winb83]

One of the better posts Ive read on any MB.

It’s basically the modus operandi from the book the millionaire next door. Regular people becoming millionaires by capping their lifestyle and being smart / frugal with what they make until their wealth pushes them past the point of being millionaires.

 

[Tunez]

 

[IllNameMyselfLater]

Trump exempts phones, computers, chips from new tariffs — CNBC

 

[greenvale]

Trump exempts phones, computers, chips from new tariffs — CNBC

Trump folding like origami

 

[UltimateHustler]

It’s basically the modus operandi from the book the millionaire next door. Regular people becoming millionaires by capping their lifestyle and being smart / frugal with what they make until their wealth pushes them past the point of being millionaires.

Yes sir. One of my favorite books all time along with Think & Grow Rich + Rich Dad Poor Dad

 

[UltimateHustler]

Trump exempts phones, computers, chips from new tariffs — CNBC

Apple shooting up Monday