Here are 10 pieces of bad advice I should never have followed:
Investing in stock markets is dangerous - it isn’t if you do it right
Running your own business is best - it is only in certain limited situations. Most people only make more money starting their own business if they have a lot of experience and existing clients
Never invest in bonds - yes interest rates are low, but don’t neglect them completely
Real estate outperforms - it doesn’t. At least not most types of real estate
You shouldn't emigrate - emigrating is one of the easiest ways, in certain situations, to earn more
Business is best done face-to-face - we are in a new digital economy now
Always reinvest into your business - this can be a good idea but some free and cheap methods are just as effective
Just focus on earning more not on spending - this is a losing battle no matter how much you earn
There is a right time to buy stocks - this is impossible to predict. The right time is always now.
Research stocks - in the modern world, you aren’t going to out-research the combined wisdom of the market.
Since ignoring these 10 over a decade ago, I have saved myself time, worry and hassle and made more money in the process.
