Splurge, but only infrequently to maximize happiness
Read at least one book per month
Invest in your mind and skillset
Spend money in ways that increase happiness: charitable giving and time with loved ones
Automate every part of your financial life
Teach someone else about the power of saving and investing
Learn to savor and appreciate what you already have
Save at least 1% more than you did last year
Check out your credit report
Declutter: get rid of everything you don’t use or love
Make a (realistic) budget
Track your net worth
Make one extra mortgage payment
Create a “vision board” with your three top financial goals
Make bite-sized financial goals with rewards for completion
Choose experiences over stuff
Rebalance at least yearly
Have fun and buy things that matter to you - you can’t take any of your money with you!
20 things we are leaving in 2020:
Benchmarking to the S+P 500.
Keeping up with the Joneses
Chasing speculative fads and pretending it’s an investment
Conflating negativity and bearishness with sophistication
Unnecessarily complicated products
Confusing a place to live with an investment
End of year price targets and specific forecasts
Raising lifestyle when income rises
Reaching for yield
Watching histrionic financial news coverage
Depreciating assets
Confusing our desires for an asset with its future trajectory
Talking about 10% corrections as though they are rare
The idea of getting rich quick
The illusion of certainty when it comes to markets (or life, for that matter)
Unnecessary consumer debt
Co-signing loans
Short-term thinking
Sacrificing health and happiness for a paycheck
Assuming that the future will look like the recent past
FIN - Hope you all have a healthy and prosperous new year!