There are many things in life that we don’t know.  However, there are a few things that we’ve picked up about personal finance, investing and money that we think can help clients and their families.

• The Jones family, next door, isn’t as rich or happy as you think they are…
• Luck is what happens when preparation meets opportunity
• Really rich people almost never attribute their success to getting lucky
• Get rich quick and get poor quick are two sides of the same coin
• The more complicated the investment advice, the more expensive and the less useful it is
• Spend less than you make. Always
• Ask about anything you don’t understand
• There is no such thing as job security in any industry
• Your personal residence is a place to live, not an investment. Stop watching HGTV
• Stocks tend to payoff because they are so volatile, not despite it
• Your mortgage broker is lying to you about how much house you can afford
• Never reach for yield. High dividend yields aren’t a good predictor of forward returns
• All fees erode investment performance
• Excess is never permanent
• You will never have enough money
• If it depreciates then avoid paying interest on it (I’m looking at you, cars)
• You don’t have to be rich to invest but you must invest to be rich
• Invest in your mind and your skills
• Splurges bring the greatest happiness and then diminishing returns
• If it seems too good to be true, it is. Full stop
• Einstein never said that thing about compound interest (see below). But it’s accurate nonetheless
• If you’re excited about an investment, it’s probably a bad idea
• A penny saved is more than a penny earned
• Market corrections come more regularly than birthdays – expect them
• Forecasting is for weather professionals – and even they suck at it
• The only sure thing about stocks is that there are no sure things
• A raise in your income shouldn’t mean a raise in your lifestyle
• Your life is a better benchmark than the Index
• There is an inverse correlation between performance and time spent watching financial news

Props to Khe Hy @khemaridh for the thought experiment