10 “Viking” Laws of Investing & Building Wealth

  1. Saving and living within your means is the pre requisite of investing. Set savings rates higher than the average in order to be better prepared for the future and more secure in the present.

  2. Best 3 classic Viking wealth building assets are stocks/bonds, real estate and your skills/career/knowledge.

  3. Diversify into various asset classes. They all do well and not well at different times and difficult to predict.

  4. Think long term, there are few get rich quick realities. Ignore day to day market news unless you can keep it in check and see it as a kind of entertainment.

  5. Watch investment expenses and advisors carefully, seek fiduciary financial professionals that need to legally have your interests aligned with their interests.

  6. Automate as much as possible, we little humans are terrible with managing long term investments and resources. Best to develop a simple strategy and dollar cost average each month or paycheck.

  7. Know your personal risk tolerance and understand your investments. Markets go up and down at different times. If you have a low tolerance for volatility then keep it simple.

  8. Establish your Financial Independence “number” as a big picture goal. Use the 4% withdrawal rule as a basis for the ability to make conservative withdrawal amounts.

  9. Keep it simple. The bottom line is about living a frugal lifestyle and saving regularly.

  10. Your relationships and health are the markers of “True Wealth”, remember to invest in these aspects of your life as well.

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