Saturday, November 28, 2009

Sustainable Wealth


I finished reading Sustainable Wealth: Achieving financial security in volatile world of debt and consumption by investment dude Axel Merk. It is a good read and I recommend it to anyone interested in saving and making money.

The key tenants:

Spend less than you make
Create concrete savings goals
Avoid or pay down debt
Keep abreast of economic trends and diversify your risk
Invest only what you can afford to lose
Don't trust the government to save you
Work for yourself if possible and realistic

Some specific ideas he included:
Gold
pick up foreign currency instead of all US dollars
real estate / rental property
Don't count on the stock or bond market for all your returns

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