The ultimate personal finance learning guide

After a lot of research, reading and learning, I’ve managed to pull together the ultimate average investor references needed to understand most of what we need to know to protect our hard worked money so that we can reach financial freedom at a later stage in life. I tried to keep it as simple as I could.

If you take the time to deeply understand each of the following steps and apply this knowledge to your life, you will not only have a lot less weight on your shoulders regarding your personal finances, but you will be well equipped to face the number 1 enemy in finance: your own fear.

  1. Read Money: Master the game by Tony Robbins [http://amzn.to/2zEqBIP]
  2. Take the time to watch this video: How The Economic Machine Works by Ray Dalio

  3. Make sure you understand what is and index fund and why they are important
  4. Make sure you understand the associated fees to everything you invest into and that you do NOT want to pay excessive fees (vanguard S&P 500 VOO index fund has 0.04% annual fees, compare that to what you pay now and think about it)
  5. If you did step 1, this is a simplified version of the Ray Dalio all weather portfolio” that should work for the average investor like you and me: https://seekingalpha.com/article/3350735-duplicating-the-all-weather-fund-using-low-cost-etfs?page=2#

Warning: I know some people will probably try to skip a few steps to try to save some time. I know the feeling when we are facing a pile of work to do, I am human just like everyone else. Just keep in mind, that there are reasons behind me pushing you to really learn and understand all of this. There is nothing guaranteed in the financial world. We have a tendency of doing the wrong moves in the worst timing possible. That’s human nature. Learning all of this will protect you against your own panic moment when things starts looking like they are going bad, when most of the time, it is totally normal.

Other resources I would strongly recommend*:

Books:

 

*disclaimer: if you decide to buy any of these excellent books, by using these amazon affiliate links, you help me pay with the hosting of my blog and allowing me to share more discoveries I make for the next few years.

As a bonus, I also found a lot of knowledge by following these great YouTube channels:

 

I know this seems like a lot of work to do, but sometimes it is worth putting the efforts to teach ourselves new skills. Some books contain years or decades of knowledge gathered into a few hours of reading, potentially protecting us from doing the same mistakes the majority of people do and sometimes, avoiding paying the hefty price associated with these mistakes.

Learn. Enjoy. Share. Repeat.