3 Decades 3 Major Lessons

When it comes to finance, there are three things that really matter.
The first is compounding interest.
It’s earning interest on the interest you’ve already made, and if you understand it early, you’ll start investing earlier. Even small amounts matter.
The second is investing in the right asset class.
There are a lot of conflicts of interest out there, especially around property. I’ve always liked the way Peter Thornhill explains long-term investing into businesses over cash or property in Motivated Money.
The third, and probably the hardest, is investor psychology.
Knowing how to behave in both good times and bad times moves the needle more than anything else. Everyone knows the theory, but fear during market downturns is what really tests people.

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