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Think of investing as a means to achieve your financial goals from "summary" of The Four Pillars of Investing: Lessons for Building a Winning Portfolio by William J. Bernstein
Investing is not an end in itself, but a means to an end. It is a tool that can help you achieve your financial goals, whether that be saving for retirement, buying a home, or funding your children's education. By approaching investing with a clear understanding of your objectives, you can create a strategy that is tailored to your needs and priorities. Before you start investing, it is crucial to identify your financial goals and establish a timeline for achieving them. This will help you determine how much risk you are willing to take on in your investment portfolio. For example, if you are saving for a short-term goal like a down payment on a house, you may want to focus on more conservative investments that preserve capital. On the other hand, if you are investing for retirement and have a lon...
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