4) Assets diversification, but be cautious. Some skills or assets are seasonal meaning that it may be profitable today but may not reward you tomorrow no matter the effort you put it. That is why one should try and spread his investment. Only invest in skills or assets that you understand not those that promises quick return or overnight profits
I agree with this point, most persons have been made to believe that asset diversification is the best way to go, they believe it is the best strategy for an escape from the worry of inflation and economic down times but they forget it comes with danger that can be unbearable to some persons who can be considered feeble at heart and even the strong can be broken by what they may have to face at some point because they went into diversification of their assets.
Before you ever accept to venture into this, make sure to understand very well at almost every levels the assets for which you are diversifying into because if you don't, you will suffer losses you do not understand and still endup in that position you were running from that led you to attempting diversification. It is better to have a good paying asset that you understand so well and know exactly how to go about it and you are making some level of stable profit from it than having diversified assets that are running looses in a way that you don't understand