My 9 Best Pieces of Financial Advice
The editors at Business Insider gave me one of the toughest assignments to date: boil down your best financial advice into 9 tips.
Hmmm. I wasn’t sure if anyone would really care to read this piece, frankly.
With so much financial advice out there, what would make my piece any different or special?
But I was honored they wanted me to share my personal insights. I agreed and spent about two weeks thinking – on the subway, in the shower, up and down elevator rides, during the 3 hour drive to Pennsylvania to visit family, everywhere.
I wanted to make sure my piece wasn’t just the same old advice you hear all the time, but also still integral to living a richer, happier life.
Well, the article went live 24 hours ago…and so far over 200,000 people have taken notice!
Some of the advice I share ….
Ask questions. Even the dumb ones.
I learned from life and business strategist Tony Robbins a vital key to success: staying curious. Embrace the fact that you don’t know everything and always seek answers, he told me. Even as I surround myself with talented, smarter individuals who help me with decisions related to my investments, taxes and real estate, I never trust they have all the right answers. In fact, their ability to give me sound advice depends on me constantly asking “Why is this like that?” “How come we can’t do this?” and “Can we save more money somehow?”
You don’t need to be wealthy to invest, but you need to invest to be wealthy.
Compound interest is mathematical magic. Albert Einstein called it the 8th wonder of the world for good reason. Use it or lose it. Investing is something my guests on So Money often tell me they wish they’d known more about growing up. They wish they’d started investing sooner and didn’t buy into the mentality that you need lots of money to invest. You can start small. Even with the volatile swings in the market, investing when you’re young and for the long haul is more fruitful than letting it sit in a plan vanilla savings account.
There’s no such thing as job security.
…says the girl who got laid off in 2009. The best job security is working for yourself. But it’s not to say that it’s easier to succeed as an entrepreneur than an employee. Because you’re only accountable to yourself, it’s easy to get complacent. You need to remain curious and motivated as your own boss. That’s how I somehow wrote multiple books, hosted TV shows, started a podcast and most recently launched a private coaching business. I’m always looking for ways to grow. And when things start to get too easy, that’s when I know you need to start experimenting again, get uncomfortable and take new risks. It’s the best way to ensure you stay gainfully employed.
In total, I offer 9 truth bombs about how I run my financial life in the article.
Would love for you to check out the whole piece and let me know what you think!