🏰 7 Essential rules to become wealthy

#QualityTuesday

In this series, we will teach you 5 things about the stock market in less than 5 minutes. If you are reading this and are not subscribed yet, feel free to join the Compounding Quality Family via the button hereunder:

1️⃣ 7 essential rules to become wealthy

Follow these 7 simple rules, and you can’t help but become very wealthy.

1. Don't try to impress your neighbors

2. Avoid debt

3. Invest in yourself

4. Save at least 10% of your income

5. Buy things that generate passive income

6. Don't spend more when your income increases

7. Buy good companies

2️⃣ Monthly investments needed to reach $1 million

Do you want to become a millionaire? These are the monthly savings you need to reach $1 million at age 65 with a 7% return.

3️⃣ One simple investment quote

The power of moats:

"If you gave me $100 billion and said take away the soft drink leadership of Coca-Cola in the world, I'd give it back to you and say it can't be done." - Warren Buffett

4️⃣ Today is a great time to invest

When the market is extremely bearish, it is usually a great time to invest.

Today, the market looks oversold and investors confidence is very low. These are usually great times to buy stocks!

5️⃣ Example of a Quality Company

Goldman Sachs' view on Autodesk ($ADSK):

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About the author

Compounding Quality is a professional investor which manages a worldwide equity fund with more than $150 million in Assets Under Management. We have read over 500 investment books and spend more than 50 hours per week researching stocks.