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Yes. There are no silver bullets, but there are plenty of golden rules. We have 52 of them in our MoneyDeck series of articles.
Some of the most important are:
- over the medium-term, you have to beat inflation as a minimum, or else you are losing purchasing power
- this means that you will have to take on some risk to achieve the growth you need – sitting in cash is not a long-term option, no risk is the biggest risk of all
- asset allocation is more important to returns than stock selection
- risk management is vital – don’t have more than 2% of your money in a single investment (apart from your house) and watch out for multiple investments with the same company
- buying things when they are cheap gives you more chance of doing well, so you need to learn how to value things
← Are there any golden rules?
