Liquidity is much more valuable than you think. Whenever you consider a new investment, you should consider (1) the potential returns and (2) the liquidity (meaning the ease of access to the money after it’s invested). Most people think about (1) but completely ignore (2). The ease of access to the capital is worth something, especially in a downturn. (View Highlight)
Cash flow is king. There are a lot of online debates over what amount of money is enough to retire (or at least stop grinding on a job you don't like). These debates are actually just about cash flow—the cash flow that the portfolio throws off without doing anything. No matter how you want to slice it, cash flow is king. (View Highlight)
Never think twice about investments in yourself. Books, quality food, personal development, mental health, etc. All of these are "expenses" that are better regarded as investments in yourself. (View Highlight)
Follow a 24-hour Cool Off Rule for non-essential purchases. This reduces impulse purchases and improves saving and investing rates. If you still want to buy the thing after 24 hours, go for it. (View Highlight)
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