Posts Tagged ‘invest’

Future Time?

Posted: August 20, 2019 in Thought for the Day
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“How you invest your time determines how your financial future will unfold.” -Robert Kiyosaki

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“Many Americans – average folks working to build a comfortable life – assume the ‘rich’ have a secret.  It seems they know something about ‘how the world works’ that the rest of us don’t….  It turns out, the wealthy do harbor a secret – three of them, in fact….  And these secrets not only build wealth, they allow you to use it to live the life that you want to live….

You don’t need to be rich, though.  You don’t need to pursue money at all costs.  But having financial stability gives you freedom.  Reducing stress improves your health.  And understanding how to manage your income makes for better relationships with your family and loved ones.

Tenet No. 1: Save Religiously.  Tenet No. 2: Invest for the Long Term.  Tenet No. 3: Obsess About Risk

Only by following all three of these tenets can you successfully set yourself free from living paycheck to paycheck.  If you were to find folks with enough cash to live how they’d want to live, you’d find almost all of them followed these tenets.” -David Eifrig

“No matter how skilled you are as an investor, upping your savings rate is more powerful to your wealth than either increasing your income or increasing your investment returns.  That’s because it’s a one-two punch… you increase what you have to invest, while decreasing what you spend.  You also learn how to live longer on less money….  Remember that ultimately, how much you save will be the difference between a lifetime of poverty… or one of wealth.” -David Eifrig

“You need more than a high income to be wealthy.  It’s amazing how many people, young and old, don’t understand this.  Too many folks equate making ‘mucho dinero’ with being rich….  A big income can give you a great lifestyle. But if you’re spending it as fast as you’re making it, when you stop working, or when a financial emergency arises, you’ll very quickly find out how un-rich you really are.  If you want to become wealthy—in terms of having lots of money put away for a rainy day or money to spend after you stop working for it—you are going to have to learn how to save and invest a significant portion of your income.” -Mark Ford

Rich House

Posted: November 20, 2016 in Mortgages
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“Buying a more expensive home every time you get a big raise is a great way to ensure that you will never get rich.  What you want to do is find the least expensive house you can love and keep.  The longer you keep it, the more income you will have to invest in the sorts of assets that will, eventually, make you rich.” -Mark Ford

“In a normal, healthy economy, people work, save, invest, and build real wealth one dollar at a time.  But today’s dollar is different.  And the economy is different, too.  It runs on credit, not real savings, and builds debt – not wealth.” -Bill Bonner

“Japan recently announced it was implementing a negative interest rate.  The central banks of Denmark, Norway, and the European Union are already using negative interest rates.  And last week, Janet Yellen, head of the Federal Reserve, said the Fed is considering it, too….  A negative interest rate means the price of money is below zero….  So why are central banks setting negative interest rates?  They’re experimenting.  They hope negative interest rates will lead people to spend more, and borrow more, and invest more.  They hope negative interest rates will lead to economic growth.  Why?  Because if it costs you to keep your money in the bank, you’ll have more incentive to take your money out and spend it.” -Tom Dyson