black-opal
Vivere è pericoloso perchè si può morire
Two of the best ways to solve for future unknowns: 1) save and invest as much as you can 2)invest in your health and your social network
Diversification and insurance are good ways to manage risk. Diversification spreads your risk around to various asset classes, and usually that helps your portfolio withstand major downward shocks. Insurance transfers risk to the insurance company (you pay them a premium so that if you die or get sick or your house burns down, they are on the hook to pay for a new house or replace the income you would have earned for your family, for example)
the pareto principle never gets old
Here's a truth-bomb for you: you probably can't achieve personal finance perfection, and shouldn't bother trying. No matter how detail-oriented you are or whether you know what a Monte Carlo simulation is, the reality is...
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