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If at first you don't succeed - don’t try skydiving or managing your own portfolio. It only takes one mistake for disastrous results!

Successful investing can be difficult, illogical, and sometimes downright precarious. If investing were easy, then everyone would be rich, and as we all know, everyone is not rich. That being said, we must embrace reality and deal with it.

On January 8th, 2008, I came home from our attorney’s office with a very large check. We had just sold our investment firm. The Everett Financial Group, Inc., had been one of the largest and most successful independent investment companies in the United States. My darling wife MarySue asked me what I was planning to do with the check—I think she felt a shopping spree coming on! My reply was, ‘put it in a guaranteed money market account’. The stock market was overpriced, and I felt led to put the proceeds in a safe place until better investment opportunities opened up.

The beauty of compound interest is, it allows you to earn interest on your interest — it allows your money to work for you, instead of the other way around.