The definition of investment is the deferring ofpresent consumption for future consumption. So, you dohave to be willing to defer. And there are a couple of tricks that you can use to save money. One of them is simply to pay yourself first.
William J. BernsteinThe purpose of investing is not to simply optimise returns and make yourself rich. The purpose is not to die poor.
William J. BernsteinWhile it is probably a poor idea to own actively managed funds in general, it is truly a terrible idea to own them in taxable accounts... taxes are a drag on performance of up to 4 percentage points each year... many index funds allow your capital gains to grow largely undisturbed until you sell... For the taxable investor, indexing means never having to say you're sorry.
William J. BernsteinAll the things that make us human make us terrible investors and you have to understand what they are and how to avoid them.
William J. Bernstein