The best investment advice often involves the combination of the following steps: (1) acquire a specialized skill so that your labor generates meaningful money; (2) save some portion of your labor as surplus; (3) take that surplus and invest it into assets that grow in value over time; (4) maintain cash so you will never be forced to make decisions on disadvantageous terms during times when you are vulnerable; and (5) do not react stupidly to the inevitable moments when assets you own fall in value.
1. Recognize that the the value of your labor relates to your ability to acquire specialized skills that can be integrated into tasks. The harder the task, the more remunerative the reward is.
One of the most influential moments of my life occurred when I met a man who spent his life cleaning up the property after a hoarder property owner had died. He … Read the rest of this article!