Financial Advice for My New Son -- The Motley Fool:
1. You might think you want an expensive car, a fancy watch, and a huge house. But I'm telling you, you don't. What you want is respect and admiration from other people, and you think having expensive stuff will bring it. It almost never does -- especially from the people you want to respect and admire you...
2. It's normal to assume that all financial success and failure is earned. It mostly is, but only up to a point -- and a lower point than many think...
3. This may sound harsh, but I hope you're poor at some point...
4. If you're like most people, you'll spend most of your adult life thinking, "Once I've saved/earned $X, everything will be great." Then you'll hit $X, move the goalpost down the field, and resume chasing your tail...
5. Don't stay in a job you hate because you unwittingly made a career choice when you were 18 years old. Your dad shakes his head at college freshmen choosing a major to guide their lifelong careers. Almost no one knows what they want to do at that age. Many don't know what they want to do until they're twice that age...
6. Change your mind when you need to...
7. The best thing money buys is control over your time. It gives you options and frees you from relying on someone else's priorities. One day you'll realize this freedom is one of the things that makes you truly happy...
8. The road to financial regret is paved with debt. Also, commissioned salesmen. But mostly debt....
9. Your savings rate has a little to do with how much you earn, and a lot to do with how much you spend....
10. Don't listen to me if you disagree with what I've written....
'via Blog this'
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