Sometimes the best solution to a problem comes by approaching it backwards. Charlie Munger often spoke about the principle of inversion. Instead of looking for things that you should do to achieve a goal, make a list of things you would do to make sure you never reach that goal. Then do whatever you can to avoid those things.
Safal Niveshak offers us this related graphic in his post 5 Ways to Destroy Your Wealth. I’m always a sucker for a clever Venn diagram…
Definitely a good list. However, I would say this graphic is more focused on “How To Destroy Wealth Investing“, as I can think of plenty of other ways to destroy wealth…
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In my younger days, I lost a lot to all of these. I made a short term bet on stocks since I thought I knew what I was doing. I had high fee brokerage and related accounts. I traded often, and thought I knew how to time the market. I didn’t. When a friend recommended this site, and then I found MMM, I started to find my way. Better late than never.