Buy and Hold

Buy and Hold is an investing strategy where you buy an asset and hold it for a relatively long period of time. This allows the investor to benefit from the compounding effect and capital gains. For example, you can buy land and wait for a long time before selling. If the land is in a good location the price can really go up. 

Now, if you couple this with dollar cost averaging you can really become very wealthy. Dollar cost averaging involves investing a certain amount of money on a monthly or regular basis over a long period of time. For example, you can buy fairly priced pieces of land every year. Over a decade your net worth will really go up.

Buy and Hold can also apply to social relationships. In a marriage, a buy and hold strategy means you never leave no matter what! This kind of committment will strengthen the marriage and both partners including the children will flourish in the long run.

These two simple strategies of buy and hold, and dollar cost averaging, will make you rich in your lifetime!