Jonathan Clements, who was diagnosed with cancer earlier this year, shares 13 bits of advice for his kids, both of whom are now in their 30s. (it’s a mix of financial and life advice)
I’ve long been a fan of Jonathan’s work and have shared it numerous times on Apex and am still in awe with how he’s (at least publicly on this blog) living his life.
And his first bit of advice is to be an optimist! Absolutely amazing.
Advice for the Kids [Humble Dollar] – “1. Be an optimist. When you buy bonds, you rent out your money and get interest in return. But when you purchase stocks, you become an owner—and owning is the road to wealth. Sure, if the global economy collapses, you’ll end up broke. But so will everybody else, including those conservative folks who spent their life cowering in bonds and cash investments. Think of owning stocks as “heads I win, tails everybody loses.”
Moreover, over the long haul, losing strikes me as unlikely. Every morning, billions of people around the world wake up, trying to figure out how they can make their life better. Buying stocks is a way to profit from that energy and dynamism.”
It’s good advice for everyone.