What are 5 basics of finance/investment I should know as a 25 y/o?

Now is the right time

Now is always the right time in markets
The markets started 1900 at around 66. They hit 26,600 this year
Don’t try to time markets
Don’t confuse volatility and stability

2. Anybody can become a millionaire on a middle-class income

The evidence is clear

3. Be an investor not a speculator

Be long-term
Read about asset allocation and fees

4. Spending habits are key

They are more important than income
Anybody can become broke

5. Read the evidence

The most important thing
98% of people haven't read it
Base your decisions on the evidence and not emotions

Also remember, that wealth is just income - expenditure x compounded returns. Work on all three in tandem. For example, save money on your rent and auto insurance renewal, reinvest it, and it all compounds. Avoid divorce as it destroys half of your wealth etc.

Source : Adam Fayed

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