Posts Tagged ‘buy’

“The definition of wealth is the number of days you can survive without physically working (or anyone in your household physically working) and still maintain your standard of living. It’s that simple. It’s not about what you can buy. It’s about your ability to sustain your existence without working.” -Robert Kiyosaki

Here in the U.S., the Anxiety and Depression Association of America estimates that anxiety affects 40 million adults – that’s 18% of the entire population. Anxiety is now the most common mental illness in the country.

Product innovation oriented around anxiety (encompassing stress, mood, and sleep) spans nearly 30 different categories, including chocolate, yogurt, air fresheners, fabric conditioners, and skincare.

The more products we buy to treat anxiety, the more we’ll think about our anxiety…  And that’s not healthy.” -The Crux

“The phrase ‘just because you can doesn’t mean you should’ applies to almost everything in your life… Just because you can buy an expensive house doesn’t mean you should. Just because you can skip work today doesn’t mean you should… The list goes on.” -Dr. David Eifrig

“As a general rule, buying makes you poorer, whereas selling makes you richer. If you want to develop a wealth-builder’s mindset, develop the habit of asking yourself every time you buy or sell anything: Is this making me richer or poorer?” -Mark Ford

Debt Trap

Posted: February 21, 2018 in Debt
Tags: , , , , , , , , , , , , ,

“You’re going to be a wage slave your whole life… You’ve got to borrow money to buy a house. You’ve got to borrow money to buy a car. You’ve got to borrow money to get a college degree. You’re trapped in this complete cycle.” -Porter Stansberry

“Even if you buy a car with cash, you are forfeiting the opportunity of investing that cash and earning a return on it. So even people who always ‘pay cash’ still experience the same implicit trade-offs between spending now versus later…the real question is whether you are going to obtain your financing from a bank controlled by outsiders, versus a bank that you control.” -Robert Murphy

Important Point

Posted: January 21, 2017 in Money Matters
Tags: , , , ,

“It took me a while to get to this point in my life.  But I’m glad I made it…  I’m at the point where I can buy what I want.  But I don’t.  It’s an important point to reach.” –Steve Sjuggerud

“He (Seth Goden) says, quite correctly, that most people who buy books on entrepreneurship never get beyond the dreaming stage because ‘deep down inside, they don’t think they have what it takes to succeed’.  I don’t know if that is the most common fear of starting a business.  I wish it were.  But I’m afraid too many entrepreneurs have the opposite problem.  They don’t realize they don’t have what they need to succeed….  The solution to that fear is to put your plan on hold and acquire the experience to know what you need to know.” -Mark Ford

“…the world has been binging on debt like never before.

The International Monetary Fund reported last month that total nonfinancial-sector debt has ballooned to an all-time record of $152 trillion… while the global debt-to-GDP ratio has also soared to an all-time high of 225%, up from 200% just 14 years ago.

Worse, we’re seeing record debt at the government level, the corporate level, and the consumer level (via auto and student loans, in particular). The boom in corporate borrowing is especially concerning…

U.S. companies have already borrowed $1.4 trillion this year to date, according to data firm Dealogic. This is on pace to shatter last year’s previous all-time record of $1.5 trillion.

Unfortunately, most are using this money to refinance existing loans… buy back stock and pay dividends… and finance expensive (and often questionable) mergers and acquisitions. This will do little to help the economy. But it greatly increases leverage… and risk.” -Justin Brill

“Since 1994, Dalbar‘s Quantitative Analysis of Investor Behavior (QAIB) has been measuring the effects of investor decisions to buy, sell and switch into and out of mutual funds over both short and long-term time frames.  The results consistently show that the average investor earns less – in many cases, much less – than mutual fund performance reports would suggest.” -Dalbar.com