I learned this years ago when I tried to wire a dryer in my house. I had to call in an electrician who felt the need to point out that it was lucky the house didn't burn down.
In the same way, it is possible to destroy an investment portfolio without the requisite knowledge.
Fortunately, today there are excellent books and blogs that devote themselves to educating the DIY investor. With low-cost funds and proper asset allocation and diversification, it is quite easy for those interested in learning how.
Here is one book that is easy to read and will get you started on the right path: The Smartest Investment Book You'll Ever Read by Dan Solin.
Very true. I was watching a documentary on how some of newly rich athletes ended up dead broke because they didn't know how to handle the windfall.
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Very good book, Robert, can't remember if it was on a previous recommendation of yours, or somewhere else that I found this resource, but it's well worth reading - short, concise and authoritative advice on just about everything you need to know as a self-directed investor.
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