October | 2020 | SovietMen

Don’t time the market: a personal account

Posted on October 27, 2020 by Nikolai Vladivostok

I knew the rule. I knew it by heart, I knew it backwards, I knew it upside down, I knew it well enough to write a book about it. I knew it all.

And yet, I thought I knew better.

I reckoned I could time the market.

Back in 2018, I was shifting my funds around according to my asset allocation strategy. I got to the bit where I needed to move some bonds over to shares – and I balked.

I couldn’t do it. Read More

The 5 most common mistakes financial advisors make

Posted on October 13, 2020 by Nikolai Vladivostok

Much financial advice is of poor quality, even when you take out all the commissions and corruption. Why? It’s because too many advisors fall into the same five errors that everyone else falls into. Understand what those five mistakes are, and you’ll be much better able to find good advice and avoid bad advice.

This is an extract from my book, The Poor Man’s Guide to Financial Freedom: A Realistic, 10-Step Manual to Building Liberating Wealth on a Low to Medium Income.

How Good (or Bad) Are Financial Advisors? Read More