Guideline #1: Do it.
"I found the road to wealth when I decided that a part of all I earned was mine to keep." So says Arkad, the hero of George Clason's classic book, The Richest Man in Babylon.
The idea is that out of any paycheck or income stream we must first set aside a percentage for savings and investing, then we can spend what is left. If we do it the other way and spend first, there will never be any money left for savings and investing. Something about human nature. Something about discipline.
Most of our economic troubles in this country would soon disappear if reading and understanding the principles of The Richest Man in Babylon was a requirement for high school graduation. Do yourself a favor - read this small tome once a year.
To summarize Guideline #1 for investing - just do it.
Editor's Note: The 33 guidelines first showed up, in no particular order, on this blog more than three years ago. Seemed like a fine time to re-play them, this time in order.
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