Emotions can override any level of intelligence.
Confidence rises faster than ability, especially among young men.
An asset’s ability to let you do what you want, when you want, with who you want, is ROI that can’t be found on a spreadsheet.
About once a decade people forget that bubbles form and burst about once a decade.
Your investing ability is unproven until it’s survived a calamity.
Spending money to show people how much money you have is the surest way to have less money.
Avoid disaster, be patient, and you don’t need many smart decisions to do well over time.
Big words mask little thoughts.
You will adjust to most positive financial circumstances, except when it causes you to lose control over your time, which will always hurt.
The only way to build wealth is to have a gap between your ego and your income.
The goal of investing isn’t to minimize boredom, it’s to maximize returns.
It’s easier to lie with numbers than words. As the saying goes, more fiction has been written in Excel than Word.
Your circle of competence is smaller than you think. Your susceptibility to bias is larger than you think.
Reducing your desires has the same effect as leveraging your assets, but with no downside risk.
Solutions to problems can be shockingly simple; Getting people to adhere to simple solutions can be shockingly difficult.
Debt removes options, savings adds them.
Compounding requires absorbing damage so you’re never forced to quit
No one’s impressed with what you have.
Written by Morgan Housel
To read more please visit http://www.collaborativefund.com/blog/little-money-rules/
Contact Us
At Safe Pacific Financial, we specialize in helping Canadian business owners, incorporated professionals, and investors structure life insurance for maximum wealth protection, tax savings, and business growth.
If you would like to discuss whole life insurance or investments, we’re happy to chat and see if we can be a good fit to work with you. Fill out our contact form and we will get back to you within 24 hours on business days.
Related Insights
How Life Insurance Works in Canada
Most Canadians believe life insurance is simply a backup plan. It is something you purchase in case the worst happens so your family is protected....
The Canadian Business Owner’s Guide to Wealth Management
You’ve built a successful business. Your corporation is generating profits. Retained earnings are accumulating. On paper, everything looks strong. Now is the perfect time to...
How to Use Whole Life Insurance as Collateral for Tax-Free Loans in Canada
What if you could access capital for your business, investments, or retirement — without selling assets, triggering capital gains, or paying tax on withdrawals? You...
How Canadian Business Owners Can Stop Losing Money to Taxes
How Canadian Business Owners Can Reduce Taxes Using RRSPs & TFSAs Are you a successful Canadian business owner, real estate investor, or incorporated professional? If...
The Core Principles of the Infinite Banking Concept (IBC): A Canadian Perspective
Managing your finances in today’s world means more than just saving money—it’s about creating a system that gives you control over your wealth, both now...
The Rockefeller Strategy: How Whole Life Insurance Creates Generational Wealth in Canada
When people hear the name Rockefeller, they immediately think of massive, enduring wealth. Founded in 1870 by John D. Rockefeller, Standard Oil built one of...
Why Get an Infinite Banking Whole Life Policy for Your Kids?
Why Get an Infinite Banking Whole Life Policy for Your Kids? At Safe Pacific, we’re often asked by both parents and grandparents: “Why would I...
What is the Million Dollar Baby Plan and how does it work for Canadians
What is the Million Dollar Baby Plan and how does it work for Canadians? What if you could set up a secure, tax-free financial foundation...
Why Life Insurance is Essential for Business Owners
If you’re a business owner or a high-income incorporated professional, you know that managing risk and building financial stability are essential to your success. Life...
Episode 5 of the Infinite Banking Concept Series - Leaving a Legacy
Welcome to the fifth and final blog in our comprehensive series about the Infinite Banking Concept in Canada. Throughout these four previous blogs we’ve talked about...
Episode 3 of the Infinite Banking Concept Series - How Policy Loans work and what is the Adjusted Cost Basis?
Let’s look at a Whole Life Insurance Policy Illustration that's correctly set up for the Infinite Banking Concept. In this illustration with a Canadian life...
What is the Immediate Financing Arrangement?
Who is this for? We tell everyone that they shouldn’t set this up unless they want and need life insurance. If you have someone you...
