Earn Your Leisure

In this episode, our guest, Caleb Silver, shares his six golden rules of investing that can guide you through the new year and help you build a successful strategy for your portfolio. From starting early to being tax-smart, these rules are essential for all investors to follow.Rule #1: Start earlyCaleb emphasizes the significance of starting early in investing. He highlights the power of compounding and the impact of starting young on building wealth.Rule #2: Determine your risk toleranceUnderstanding your tolerance for drawdowns and market volatility is crucial. Knowing how much risk you can handle before tapping out is key to maintaining a steady investment strategy.Rule #3: Know what you ownIt's essential to have a thorough understanding of the assets in your portfolio. Whether it's individual stocks, ETFs, or index funds, knowing what you own and understanding their financials is critical.Rule #4: Tame your animal spiritsControlling emotions and impulses when it comes to investing is vital. Caleb