Just Keep Buying: Proven Ways to save money and build your wealth

 In “Just Keep Buying: Proven Ways to save money and build your wealth”, Nick challenges much of the conventional wisdom in personal finance and investing. He uses data and evidence to answer some of the biggest questions that people face when it comes to money.

Here are 7 lessons from the book:

1. SAVE LESS THAN YOU THINK.

Maggiulli challenges the conventional wisdom that you need to save a large percentage of your income to achieve financial independence. He shows how you can save less and still reach your goals, by focusing on the quality and consistency of your savings, rather than the quantity.He argues that saving too much can actually be detrimental to your long-term wealth, as you miss out on the power of compounding and the opportunity to invest in income-producing assets. He provides a simple formula to calculate how much you need to save based on your income, expenses, and desired retirement age.

2. DON'T TRY TO TIME THE MARKET.

Maggiulli explains why saving up cash to buy market dips is a losing strategy, as you are likely to miss the best days of the market and pay higher taxes on your gains. He also debunks some of the common myths and indicators that people use to predict market movements, such as the yield curve, the CAPE ratio, and the presidential cycle.

3. SURVIVE THE CRASH.

Maggiulli reveals how to prepare for and cope with market crashes, which are inevitable and unpredictable. He advises readers to diversify their portfolio, rebalance regularly, and avoid panic selling. He also shares some of the psychological tricks and tools that can help investors stay calm and rational during turbulent times.

4. INVEST IN YOURSELF.

Maggiulli argues that the most consistent way to get rich is to grow your income and invest in income-producing assets. He suggests that readers should focus on developing their skills, network, and personal brand, as well as finding ways to generate passive income from their hobbies, passions, and talents.

5. SPEND WISELY.

Maggiulli offers some practical tips on how to optimize your spending and budgeting, without sacrificing your happiness and quality of life. He recommends that readers should track their spending, automate their savings, and prioritize their needs over their wants. He also discusses some of the behavioral biases and pitfalls that can lead to overspending and debt.

6. GIVE BACK.

Maggiulli explores the benefits and challenges of giving back to society and the causes that matter to you. He explains how giving can improve your well-being, happiness, and relationships, as well as make a positive impact on the world. He also advises readers on how to choose the most effective and efficient charities and causes to support, and how to plan their giving strategy.

7. THE BEST INVESTMENT YOU CAN MAKE IS IN YOURSELF.

Maggiulli concludes the book by reminding you that you are your most valuable asset, and that you should invest in yourself as much as you can. He urges you to keep learning, growing, and improving yourself, by reading books, taking courses, attending seminars, and seeking mentors. He also emphasizes the importance of taking care of your health, happiness, and relationships, and finding your purpose and passion in life.

These lessons from "Just Keep Buying" emphasize the importance of consistent investing, disciplined saving, and strategic planning in building and maintaining wealth.

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