Consistency in saving and investing is key from "summary" of PSYCHOLOGY OF MONEY. by MORGAN. HOUSEL
The most crucial ingredient in building wealth is not your investment returns or the specific assets you buy. It's not the skill with which you time the market or the economic trends you bet on. The biggest determinant of your long-term financial success is something much simpler: your saving and investing behavior. Consistency in saving and investing is key. This principle may not sound exciting or revolutionary, but it is incredibly powerful. The temptation to chase the hottest trends or jump in and out of the market can lead to disaster. The real magic happens when you consistently save a portion of your income and invest it wisely over the long term. Successful investing is not about finding the next hot stock or predicting the market's movements. It's about staying disciplined and sticking to your plan, even when it feels boring or slow. The power of compound interest works best when given time to...
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