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Spending 7 minutes deciding where to put 30 years of savings

Morgan Housel at Fools usually came out with good articles. Last week, he came out with a list of 28 things that you should attempt to avoid at all costs. Its a simple list. You can view it here.

I just have a word on two things that I seem to feel strongly about, not always, but recently.

Putting 30 years worth of savings into something you spent seven minutes researching. You have no right to complain about losing money in an investment you put no effort into understanding.

Seen this a lot. A disproportionate amount of effort spent by people.

You can spend days and days research about the most efficient routers or laptops, or which restaurant to bring your family or girlfriend to.

But you refuse to spend more time on finding a fundamentally sound wealth building method. And you go about trusting people, without getting a second opinion, committing a large portion of your hard earn savings to it.

Having political feelings within ten miles of your investment decisions. This is a common way smart people make dumb decisions with money.

There are much noises around, and its easy to get confused. The grave problem is to confuse politics with the job of wealth building. Especially prevalent around government money printing, gold, commodities and that only the stock market can have bubbles.

There are much noises, misinterpretations and myths around. I list some of them here.


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