🏰 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.
Don't try to impress your neighbors
Avoid debt
Invest in yourself
Save at least 10% of your income
Buy things that generate passive income
Don't spend more when your income increases
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.
Re: how much you need to save per month to have 1m by 65, how does that work, 80k at 64?