Three Unique Investing Tips

What’s up my friend. As you might have noticed there was no email last week as I was cutting it up in the California mountains (no injuries #win).

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“Wealth is the ability to fully experience life.” - Henry David Thoreau

Three Unique Investing Tips

Everyone knows the basic ole investing tips you have heard from your grandpa.

Dollar cost average, ignore the news, don’t chase stocks, blah blah blah.

Below are three investing tips I’ve personally found to be extremely helpful…and that you won’t find plastered in every investing YouTube video.

Let’s get into it 👇️ 

The Send It Account

I’ve mentioned this one on Twitter a few times before. For those who enjoy to take part in speculative investments this is a must.

Having a smaller, separate account where one can go actively trade if they get the itch is another safety layer. Instead of interfering with their long term portfolio one can carry out their experiments in a safe place. So incase those experiments blow up the effect is minimal.

Typically this is where I buy those high flying individual stocks or YOLO it on an options contract every now and then.

None of us are perfect.

Know Your Magic Number

How much money you would like to retire on?

What would the balance on your account need to be in order to provide enough cashflow to live off of?

Sounds obvious, but these are important questions that often get looked over by investors. Knowing how much you will eventually need is key to understanding if your current investing habits will allow you to reach that number. If not, you can make changes accordingly.

Having “a number” also makes the entire process more enjoyable since there is an overarching goal to achieve.

Keep An Investment Journal

This one is relevant to all investors, but especially those of you who enjoy picking individual stocks.

Over the long term this can come in handy when looking back over your thoughts from previous market events, earnings reports, and news. As an investor you have likely had moments where you missed opportunities and thought “why didn’t I see that coming” or “how come I failed to realize x.”

By recording your thoughts (and reactions) you’ll be able to understand these moments better in the future and use them to improve your investing.

Conclusion

We kept it quick and light this week but hopefully these are a few tips you don’t see everyday.

Shoot me a reply with your favorite “wacky” investing hack. Some of you are pretty creative…

Catch you later not-so-normal investor. ~ Cade

Cade's Finds

More People Buy, Number Go Up - One of my favorite finance writers Nick Maggiulli revealed his thoughts on the latest crypto rally. And truth be told, don’t think I could have said it any better.

Is The S&P 500 Too Concentrated? - Great YouTube video on how even though the S&P 500 is naturally diversified…you are still making a heavy bet on a handful of companies. If you are an index investor, it’s worth a watch.

Best Memes

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Hold onto your horses boys and girls.

Nothing in this email is intended to serve as financial advice. Do your own research. Thanks for reading, if you have any questions, comments, suggestions, etc. about the email don’t hesitate to send me a reply.