On The Agenda:
We made a list of some financial proverbs that we thought might be able to help you in your financial situation. Find out what you can glean from these wise words.
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Episode Show Notes:
Today, we’re sharing some financial proverbs that you’ve probably heard before. We’ll explain how they can help your financial situation.
A bird in the hand is worth two in the bush
Another way to say this is I’m more interested in the return of my money than a return on my money sometimes.
It’s better to have the thing you know you have, versus the potential of what you might get. People often think about this in terms of investing and being more conservative.
If you’ve made some money, don’t be greedy. Make sure you preserve your principle.
A rising tide lifts all boats
If the market is going up and you’re invested, you’re going to make money. The same applies if the market is going down.
Don’t put all your eggs in one basket
In finances, you need to be diversified. You need your money in different asset classes, including things that make money and things that are safe.
One man’s trash is another man’s treasure
Not every investment is right for every person. It depends on your stage of life. Young people are growing their pile of money and aren’t as concerned about risk.
If you’re older, the risk is greater because you aren’t adding to that money and are withdrawing from it.
Listen to the full episode or use the timestamps below to jump to a certain section. Thanks for listening.
Important Points:
0:31 – Bird in the hand
2:24 – Rising tide
4:08 – Eggs in one basket
7:00 – One man’s trash
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