A new regular feature on our Heritage blog is Takeaway, our perspective on articles recently published that we found interesting or of note to share with our readers. While our commentary is in no way an endorsement of the whole piece, our aim is to increase the dialogue around money, investing and family legacies.
Article by Jennifer Colonia, Forbes.com
Takeaway by Kenny Brown, Heritage Trust
The most important takeaway from my perspective is Money Tip #9 “Never Lose Money — You Can’t Afford It.” It is not uncommon for me to get asked, “Any hot stock tips?” Yet when I ask, “What is the plan with the money they would like to invest?” I often hear, “I just want to make money.” The most successful business owners and investors I know have an obsession with not losing money. In fact, Warren Buffett’s investment rules are quite simple, “Rule No. 1 : Never lose money. Rule No. 2 : Never forget Rule No. 1.”
To read the full piece with more tips like “Make your Dollars Do Pilates” and “A Plan B is Absolutely Necessary”, click on the article link above.