Where is the market heading?

I don't know is the answer. Unless something is of great value, then I buy. Neither can I sell unless it has risen ridiculously over its worth.

My father attended school for only two years. In his time, there were only the papers, company correspondence and dividend cheques to tell you how the stocks were doing. He was not privy to stock market announcements nor direct communication with the management.

Papers delivered financial news one day after the event. One thing was very clear to him. If you park your cash in the bank and the interest is lower than the dividend, and you have read that the company is doing well, then buy that stock. Based on that, his estate has produced more than enough income for my mother to live without any financial assistance from the children.

You don't need any degree to be successful with your superannuation. Recently, my cash position has improved a lot because of dividends. As I age, it is time to ponder stable income for my superannuation. Considering the price I paid for those blue chip stocks, the yield is many times higher than cash deposits. My father was right.

So it is better to be born with high level of intelligence as your main asset than just having a tertiary education. He was also very thrifty and disciplined.