“No matter how much you learn and plan, nothing prepares you for the trauma inflicted by the first bear market you encounter.”
“Never worrying or fighting about money is an important part of living the good life.”
“In personal finance, there is little that is more important than you and your spouse being on the same page.”
“The truth is that putting only 5%-10% of your gross income toward retirement probably isn’t going to provide a very nice retirement.”
“Expect your money to grow at a rate of just 3%-7% after taxes, expenses, and inflation.”
“You have limited control over your income, your investment returns, and how many years you have to save for retirement, but you have a great deal of control over your savings rate.”
“Focusing your investment efforts on five factors that are within your control– risk, diversification, investment expenses, taxes and your own behavior, will keep you on the Motorway to Dublin.”
“Do not put money into the stock market that you need anytime soon.”
“You want to take enough risk to meet your goals, but no more.”
Numerous studies show that very few mutual fund managers can outperform an index fund when expenses are taken into account, and those few who will outperform cannot be identified in advance.”
“Investing is a constant battle against inflation, investment expenses, and taxes.”
“Investors are notorious for investing with their emotions and chasing performance by repeatedly buying high and selling low.”
“It is better to have a less-aggressive plan with lower expected returns than to have a plan that will self-destruct due to your inability to control your own behavior.”
“Managing your behavior matters more than optimizing your asset allocation.”
“In times of market turmoil, you merely need to refer to your written investment plan and follow it. You can go for literally months without looking at your investments or investment-related news.”
“In investing, like baseball, hitting singles and avoiding errors is a better strategy than swinging for the fences.”
“Unfortunately, the vast majority of those who bill themselves as financial advisors neither charge a fair price nor give good advice. More than any other market I know, the market for financial advice is ‘let the buyer beware.’”
“A stockbroker’s incentive is to generate as many fees and commissions as possible. Instead of having his goals aligned with yours, he is incentivized to do exactly the opposite of what you need.”
“If you know nothing about this ‘financial stuff’ and are willing to pay a significant fee rather than learn it, then the advisor can provide a lot of value for you.”
“The main difficulty with choosing an investment advisor is that by the time you know enough to choose a good one, you probably know enough to do your financial planning and asset management on your own.”
“If your advisor thinks he can pick winning stocks, choose winning actively managed mutual funds, or time the market — steer clear!”
“Most who call themselves financial advisors are commissioned stock brokers, mutual fund salesmen, or insurance agents in disguise.”
“As Bill Bernstein has famously explained, ‘If you assume that every financial professional you interact with is a hardened criminal, you’ll do okay.’”
Source: https://www.bogleheads.org/forum/viewtopic.php?t=133371