What Financial Lessons are you Learning in 2017?

Thrugelmir

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

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

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

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

[FONT=&quot]Prioritising cost over considerations such as health and safety can and will have tragic consequences. [/FONT]

Apodemus

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

Biggest driver of equity prices is politics.
(Which is why fund managers hire politicians instead of academics)

bostonerimus

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.

Linton

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

When trading, practice is a must. You want to train and test your strategy before starting out with real money.