This is one of the finest films ever made. Ray Dalio should have won so many Oscars.

https://www.youtube.com/watch?v=PHe0bXAIuk0

If you don’t have half an hour to spare, here are the three key takeaways:

• Don’t have debt rise faster than income.
• Don’t have income rise faster than productivity (you’ll price yourself out of the market)
• Do all that you can to raise your productivity.

These three rules apply to governments, corporations, and individuals.

By the way, the only time a capital outlay can be called an “investment” is when it is used to raise future productivity. That stock portfolio of yours is really a high-maintenance savings account, and your stock purchases are merely trades.

Other things that are not investments: insurance policies, art collections, personal vehicles, houses, derivatives.

Things that are: undeveloped property, private businesses, a personal vehicle used by an Uber driver, education.

Sleep is another great investment. The best investments in life are free.

See Also:
“Your portfolio is a place where you are simply trying to grow your savings at a reasonable rate without exposing it to excessive permanent loss risk or excessive purchasing power loss. It’s not a place for gambling or getting rich quick.” –PragCap

PS. Things look different. I finally got around to making this site mobile-friendly.