Lending Club Blog

Great money rules to live by

CNNMoney recently published an excellent article on money rules to live by. The author wrote 20 tips based on the wisdom of some of the best investors, inventors and risk-takers of all time—so these are tips that have been tried and tested for hundreds of years. I’ve been recommending most of these rules since I began writing for the Lending Club blog.

Some of my favorite tips are:

#7 – Practice patience

#14 – Just do it

#3 – Have an emergency fund

These tips, when followed correctly, are your bet to become wealthy and grow your income.

It’s always important to keep in mind that these are rules of thumb, but not requirements. If you notice, by reading these tips, there is a common theme running through them: invest your money for the long term, and try to be average–don’t try to beat the market. If you try to spread your investments in multiple markets, finance your IRAs as best as you can, fund your accounts consistently, and be patient, your money will grow–almost guaranteed.

The best way to lose in the market is to believe that you are smarter than everyone else and to try to time the market. Your chance of knowing more than everyone else is almost nil—your financial future is better safe than sorry.

Of course, don’t be too safe. Don’t invest only in bonds, put some of your money into stocks and index funds, and invest in some P2P loans on Lending Club. If you are willing to be risky, take some small risks. Just don’t bet your entire portfolio on the stock tip you received in your email this morning.

Which tips are your favorites?

Thursday, September 27th, 2007 at 10:59 am

Comments (1)

  1. Imari:

    I am planing to make a lending corporation. Can you give me some
    advise of the names and the interests and also the company that I
    will build? Thank you.

    July 12th, 2008 at 8:28 pm

Recommended

Welcome Home

Lending Club named #5 on Forbes’ Most Promising Companies List

Get ready for tax season with Lending Club’s Tax Form Guide

New Adjusted Return Metric

See more
Lending Club Awards
  • Archives z

Recent Posts

We’ve acquired a company!

Today we’re excited to share the news that we… Read More »
April 17, 2014

Lending Club customer information safe from Heartbleed Bug

You may be hearing about… Read More »
April 11, 2014

New: Loan Origination Data Update

An update for users of our platform statistics and… Read More »
April 3, 2014

Lending Club Launches Business Loans

Today, Lending Club announced the launch of business loans… Read More »
March 20, 2014

Lending Club Extends Privacy Protections for Borrowers

At Lending Club we pride… Read More »
March 19, 2014

How to Protect Yourself from Online Scams and Swindles

It is more important than… Read More »
February 11, 2014

New Statistics Charts to Help Investors Understand Returns

At Lending Club, we believe… Read More »
February 6, 2014

Welcome Home

I became a U.S. citizen earlier this month. When… Read More »
January 27, 2014

Lending Club named #5 on Forbes’ Most Promising Companies List

Lending Club has won the… Read More »
January 24, 2014

Get ready for tax season with Lending Club’s Tax Form Guide

Tax season is coming. To… Read More »
January 13, 2014