What Financial Lessons are you Learning in 2017?

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  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    Reaching a point of contentment (i.e. financial security) is worth the effort. Thereafter it's just a question of making the most of every day as it arrives. Not worrying about what one doesn't have monetary wise.
  • ian-d
    ian-d Posts: 371 Forumite
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    Money in a cash ISA earning naff all is actually losing money through inflation. Never got my head around that before.

    I've basically learnt everything I have about investing this year...much too late, but better to start now than not at all.
  • RG2015
    RG2015 Posts: 5,907 Forumite
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    I am a convert to regular savers this year.

    A lump sum can earn 3.24% p.a. using a 5% regular saver along with a 1.15% feeder account (current best buy Kent Reliance)
  • daddy_bro
    daddy_bro Posts: 42 Forumite
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    If you buy and sell shares then ignore everything you read on forums and do your own research. EVERYONE there has a vested interest. Some that the price goes down and some that it goes up but their posts will reflect their position.
  • coyrls
    coyrls Posts: 2,432 Forumite
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    [FONT=&quot]Prioritising cost over considerations such as health and safety can and will have tragic consequences. [/FONT]
  • Apodemus
    Apodemus Posts: 3,384 Forumite
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    Same lesson that I should have learned last year - buy the holiday euros BEFORE the country goes to the polls for a June election!
  • Glen_Clark
    Glen_Clark Posts: 4,397 Forumite
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    Biggest driver of equity prices is politics.
    (Which is why fund managers hire politicians instead of academics)
    “It is difficult to get a man to understand something, when his salary depends on his not understanding it.” --Upton Sinclair
  • bostonerimus
    bostonerimus Posts: 5,617 Forumite
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    Linton wrote: »
    After many years focussing on growth I am learning that there is a point in one's life at which wealth preservation becomes a major consideration. Enough is sufficient, more isnt always better.

    I think of it a little differently. Once you have enough you can afford to take lots of risk with the surplus.
    “So we beat on, boats against the current, borne back ceaselessly into the past.”
  • Linton
    Linton Posts: 17,173 Forumite
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    bostonerimus wrote: »
    I think of it a little differently. Once you have enough you can afford to take lots of risk with the surplus.

    For a while, yes. As an intellectual exercise, perhaps. But if the result isn't going to make any real difference to your lifestyle it could become a little pointless. Maybe there are better uses of ones time.

    Neglecting growth completely could be seriously risky in the long term. Elsewhere I have advocated multiple portfolios with separate well defined objectives. This permits the allocation of a specific % of one's pot to wealth preservation and another to uncompromised higher riisk growth.
  • JustinP
    JustinP Posts: 3 Newbie
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    When trading, practice is a must. You want to train and test your strategy before starting out with real money.
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