Michel Pireu Columnist

"There is no magic potion in the investment world," warns Burton Malkiel in the introduction to The Random Walk Guide to Investing, "because one doesn’t exist. What I offer are 10 simple, time-tested rules that can build wealth and provide retirement security. Think of them as the proven way to get rich slowly." 1. Start now, not later. Don’t worry about whether the market is high or low. Trust in time rather than timing. The secret to getting rich slowly (but surely) is the miracle of compound interest. 2. Keep a steady course. The most important driver in the growth of your assets is how much you save, and saving requires discipline. Pay yourself first (invest before anything else), budget, change spending habits and, most importantly, pay off debt. 3. Don’t be caught empty-handed. Open an emergency fund. Purchase life insurance. 4. Make the most of tax-advantaged savings; anything that helps to "reduce the bite that taxes take out of your money". 5. Match your asset mix to your i...

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