016: M.C. Laubscher: Wisdom Wednesday! Mark Ford's 8 Rules For Financial Independence

You can’t truly trust anybody but yourself with your money.

The harder someone tries to convince you to trust him, the less you should.

However good a track record someone has, never believe that he/she can’t suddenly start losing your money. In fact, if you are like me, the moment you invest will be the moment his/her track record starts falling apart.

All markets rise and fall. Don’t ever believe anyone who assures you that they can predict the future.

If you don’t learn to spend less than you make, you will never have peace of mind.

Most of what you buy when your income is above $100,000 is discretionary. Don’t fool yourself into thinking you need a big house or a fancy car.

In making financial projections for yourself or a business, always create three scenarios: one that shows what things will look like if everything goes as hoped; one that shows what will happen if things are mediocre; and one that shows what will happen if things fall apart.

Know that the third scenario is optimistic.