Bach Wisdom—15 Timeless Truths

Take these 15 truths everywhere you go!

1. Always spend less than you make – your life will be much easier and less stressful.

2. Pay yourself first – at least an hour a day of your income – you’re going to work 90,000 hours over your lifetime you should keep at least an hour a day of your income.

3. Don’t budget – you’re too busy, and you will just get frustrated and fail–instead automate your financial life. When it’s automatic, you can’t fail.

4. Be an investor, not a borrower – investors get rich borrowers stay poor.

5. Buy a home, don’t rent. Renters stay poor – homeowners and landlords build wealth.

6. Don’t lend money to friends or family (you will lose both) — and you’re not a bank.

7. Never invest in things you don’t understand. If the investment can’t be explained to you on one piece of paper, it’s too complicated. Pass.

8. Invest for the long-term – building wealth takes decades not days.

9. Don’t try to time the market; it won’t work. Investors who time the market always fail.

10. Never invest on margin – leverage kills you when things go wrong.

11. This time is different — it’s never different. Things work until they don’t work. Never bet the farm, you can lose it.

12. Once you become rich — stay rich. It beats starting over (ask anyone who has had to).

13. Give back — because the more you give the more you grow – and you make the world a better place.

14. Never give up. No matter what happens, no matter how many times you fail as long as you get up and try again you haven’t lost.

15. Compound interest really is a miracle that works when you work it. Save $10 a day at 10% interest in 40 years you’ll have $1,897,244. Earn half of that, and you’ll have close to half a million dollars. That will be way better than not having saved. Trust me. Your older self will thank you.