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What Financial Lessons are you Learning in 2017?
Cotta
Posts: 3,667 Forumite
Hi All,
Probably more specific to your own situations but what have you learnt thus far this year?
Two key points for me are:
1. Carry out regular saving each month, treat it as an expense and don't touch the account it's in.
2. Build your pension - it's never too soon.
As always I'm interested in others findings.
Probably more specific to your own situations but what have you learnt thus far this year?
Two key points for me are:
1. Carry out regular saving each month, treat it as an expense and don't touch the account it's in.
2. Build your pension - it's never too soon.
As always I'm interested in others findings.
0
Comments
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1. Keep learning about investing - and accept that I may need to pay others to do the job until i'm happy that i'm not going to cost myself multiples of the advisor fees i've saved.
2. Keep an open mind about the options available - don't close avenues off because they aren't winning on one particular metric.0 -
1. Focus on the long term plan
2. Take nothing for granted, nothing is permanent
4. Be adaptable, flexible and prepared for changes
5. Focus on the long term plan'We don't need to be smarter than the rest; we need to be more disciplined than the rest.' - WB0 -
An unfashionable investment will ultimately become fashionable if the underlying business model is sound and geared for the longer term.0
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Currency fluctuations affect stocks valuations big time especially if invested in global equities. This makes trying to assess how your portfolio is doing very confusing.
Save 12K in 2020 # 38 £0/£20,0000 -
That interest rates are way overdue for an increase.Stopped smoking 27/12/2007, but could start again at any time :eek:0
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Do not be greedy. Do not be influenced by other investors.Another night of thankfulness.0
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Mr Micawber was right.Eco Miser
Saving money for well over half a century0 -
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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.0
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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.
This is a question I've been wrestling with.
My SIPP is at a point where 3% drawdown will be more than sufficient for my spending. However, i'm not planning to touch it for another 15+ years which then leads me away from aiming to match inflation to taking on slightly more risk mitigated by the 15 years to smooth out shorter term market volatility.
Historical returns for different asset class mixes are a useful guide but I'm wary of looking in the rear view mirror.0
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