2. Subscribe to Money magazine and read it! You can ignore their individual stock picks (more on that later) but their tax, investment, consumer, and policy info is second to none.
I have been sampling financial periodicals over the past few years. Forbes, Kiplinger, WSJ, Businessweek etc... None of them give a good "consumer perspective". While they are fine magazines. They are skewed towards business and give far more detail than you and I need. When it comes to personal finance I like to keep it simple. Money magazine fits this bill perfectly. I have been hassled for reading Money in public. My response is "Excuse me for wanting to be able to retire!" Shuts them up every time. Well both times anyway. "
"The market is designed to transfer wealth from the active to the patient." Warren Buffet.
"I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years." Warren Buffet.
Read more: http://www.brainyquote.com/quotes/authors/w/warren_buffett.html#ixzz1hEQZwJRk
"If you master the consumer side of finance you will retire well. If you master the business side of finance you will make enough to really help others and have options to not work." B. Smith
These quotes/philosophy helps me tune out the noise. It reinforces the position of Buy and hold. Or Buy for the long term. I'm still working on the consumer end of finance FYI.
Even some of the information in Money is a little deep but I encourage you to read it cover to cover. You may not understand everything but through osmosis you will absorb enough knowledge. Suddenly you will remember bits and pieces when you need them. This is how I got through Benjamin Grahm's book Intelligent investor. Benjamin Grahm was Warren Buffet's mentor. Speaking of good financial books I loved John C. Bogle's Little red book of investing. Bogle founded Vanguard and invented index funds.
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