The 🔟 Most Important Money Lessons

I Wish I Could Teach My Younger Self 🧵

1⃣ ALWAYS live below your means
2⃣Developing a long-term mindset

is the foundation of financial success
3⃣In the beginning, your savings rate is all that matters

Eventually, your investing returns are all that matters

Focus your time accordingly
4⃣Financial freedom is achievable

The price is ~10 years of hardcore saving/investing
5⃣Wealth is built in your free time at home

not at work
6⃣If you learn how to convert your salary into wealth

you'll become financially unstoppable
7⃣There will never be a "perfect" time to invest

Just buy regularly and ignore all forecasts, declines, and news headlines
8⃣In the short-term, sentiment controls stock prices

In the long-term, earnings control stock prices
9⃣Don't worry about your short-term results
🔟Remember to have as much fun as possible on the journey

Don't take yourself too seriously

Make friends. Play games. Travel. Connect with your community!

If you don't enjoy the journey, you won't enjoy the end result
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More from Brian Feroldi

Last week, I asked my followers to share their favorite Twitter threads

I receive tons of wonderful replies and read through them all

Here are 31 amazing threads that are well worth your time ⬇️

1/ @10kdiver on


2/ @aaronbush100 on 20 semi-controversial investing


3/ @annieduke on category


4/ @awilkinson on losing

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This is a pretty valiant attempt to defend the "Feminist Glaciology" article, which says conventional wisdom is wrong, and this is a solid piece of scholarship. I'll beg to differ, because I think Jeffery, here, is confusing scholarship with "saying things that seem right".


The article is, at heart, deeply weird, even essentialist. Here, for example, is the claim that proposing climate engineering is a "man" thing. Also a "man" thing: attempting to get distance from a topic, approaching it in a disinterested fashion.


Also a "man" thing—physical courage. (I guess, not quite: physical courage "co-constitutes" masculinist glaciology along with nationalism and colonialism.)


There's criticism of a New York Times article that talks about glaciology adventures, which makes a similar point.


At the heart of this chunk is the claim that glaciology excludes women because of a narrative of scientific objectivity and physical adventure. This is a strong claim! It's not enough to say, hey, sure, sounds good. Is it true?
And here they are...

THE WINNERS OF THE 24 HOUR STARTUP CHALLENGE

Remember, this money is just fun. If you launched a product (or even attempted a launch) - you did something worth MUCH more than $1,000.

#24hrstartup

The winners 👇

#10

Lattes For Change - Skip a latte and save a life.

https://t.co/M75RAirZzs

@frantzfries built a platform where you can see how skipping your morning latte could do for the world.

A great product for a great cause.

Congrats Chris on winning $250!


#9

Instaland - Create amazing landing pages for your followers.

https://t.co/5KkveJTAsy

A team project! @bpmct and @BaileyPumfleet built a tool for social media influencers to create simple "swipe up" landing pages for followers.

Really impressive for 24 hours. Congrats!


#8

SayHenlo - Chat without distractions

https://t.co/og0B7gmkW6

Built by @DaltonEdwards, it's a platform for combatting conversation overload. This product was also coded exclusively from an iPad 😲

Dalton is a beast. I'm so excited he placed in the top 10.


#7

CoderStory - Learn to code from developers across the globe!

https://t.co/86Ay6nF4AY

Built by @jesswallaceuk, the project is focused on highlighting the experience of developers and people learning to code.

I wish this existed when I learned to code! Congrats on $250!!