1. The Joneses aren’t as rich or happy as you think.
  2. Get rich quick and get poor quick are sides of the same coin.
  3. Your life is a better benchmark than the S&P 500 Index.
  4. The more complicated the investment advice, the more expensive and the less useful.
  5. Spend less than you make. Always.
  6. Ask about anything you don’t understand.
  7. There is no such thing as job security.
  8. A house is a place to live, not an investment.
  9. The only sure thing about stocks is that there are no sure things.
  10. Stocks tend to pay well precisely because they are volatile.
  11. Your mortgage broker is lying to you about how much house you can afford.
  12. A raise in income shouldn’t mean a raise in lifestyle.
  13. Forecasting is for weather people.
  14. Never reach for yield.
  15. Excess is never permanent.
  16. You will never have “enough” money.
  17. There is an inverse correlation between performance and time spent watching financial news.
  18. Diversification must occur within and between asset classes.
  19. If it depreciates, don’t pay interest on it (I’m looking at you, cars).
  20. You don’t have to be rich to invest, but you have to invest to be rich.
  21. Invest in your mind and your skills first.
  22. Infrequent splurges bring the greatest happiness.
  23. If it seems too good to be true, it is.
  24. Max out your 401k match and contribution before you even consider watching financial news.
  25. Einstein never said that thing about compound interest but it’s still magical.
  26. If you’re excited about an investment, it’s probably a bad idea.
  27. A penny saved is more than a penny earned.
  28. Market corrections come more regularly than birthdays – expect them.
  29. Debt is a four letter word too.

The views expressed are those of Brinker Capital and are not intended as investment advice or recommendation. For informational purposes only. Brinker Capital, Inc., a registered investment advisor.

Tagged: Dr. Daniel Crosby, behavioral finance, money advice