In his insightful memo "The Indispensability of Risk," Howard Marks explains why risk is not just a factor to be avoided but an essential element for achieving superior returns. Marks argues that investors must embrace uncertainty, understand the relationship between risk and reward, and learn how to manage risk through diversification and maintaining a margin of safety. This article explores how successful investors use calculated risk to navigate financial markets and secure long-term success.

Howard Marks, co-founder of Oaktree Capital, offers timeless wisdom for investors of all levels. In The Most Important Thing, Marks emphasizes key lessons such as accepting uncertainty, mastering emotional control, and utilizing second-level thinking to achieve long-term success. By understanding market cycles, maintaining humility, and embracing patience, investors can navigate volatile markets with confidence. Marks also advocates for risk management through diversification and encourages a healthy skepticism toward market predictions. Explore these insights and more to elevate your investment strategy.

Recent research challenges the long-held belief that well-being plateaus at an income of $75,000 per year. This article explores new findings from a study showing that higher incomes continue to boost both daily emotional experiences and overall life satisfaction. Dive into the factors that mediate the relationship between income and happiness, and learn how financial control, reduced stress, and greater life satisfaction are all linked to earning more.

Rising inflation can erode retirement savings, but with the right strategies, you can protect your income and enjoy financial security. This article explores effective ways to secure inflation-protected income, including Treasury Inflation-Protected Securities (TIPS), inflation-adjusted annuities, and diversified investment portfolios. Learn how to safeguard your future and ensure a sustainable, comfortable retirement.