In my last episode of Talking with John Chow, I talked about the power of association and how it impacts your reality. Today, I want to share with you the best piece of financial advice I’ve ever received.
No, it’s not “save 10% of what you make and invest it in mutual funds.” That’s a sure way to stay broke. You need to understand that most financial advice are not geared to make you rich. They’re geared to make the financial company rich. The best piece of financial advice I’ve ever received is a very simple rule. It’s so simple that you might go, “Doh! That’s so obvious!” Well, it maybe obvious, but the majority of the population still violates it. Consider this a reminder.