Posts Tagged ‘wealthy’

True Wealth

Posted: May 18, 2019 in Thought for the Day
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“A wealthy man is a man who has enough.” -Chinese Proverb

Lethal Debt

Posted: September 13, 2018 in Debt, Thought for the Day
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“Debt is dangerous for everyone, but it’s lethal for the not yet wealthy.” -Mark Ford

“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

“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

Support Yourself

Posted: August 2, 2016 in Money Matters
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“Don’t expect anyone else to support you.  Maybe you have a trust fund.  Maybe you’ll have a wealthy spouse.  But you never know when either one might run out.” -Mary Schmich

Spending Wealth

Posted: February 26, 2016 in Money Matters
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“As personal income grows, so too does the urge to spend more.  This is the primary reason why people with high
incomes rarely become wealthy.” -Mark Ford

Dangerous Debt

Posted: October 27, 2015 in Debt
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“Debt is dangerous for everyone, but it’s lethal for the not yet wealthy.” -Mark Ford

“‘Old Money’ families take the long-term view.  These families know how to turn time into an ally instead of an enemy….  And they have worked out ways to use time to prepare the family not only to protect money, but to make it grow….  The truly wealthy are careful to spend their money on things that hold their value over time.” -Bill Bonner

Truly Wealthy

Posted: December 19, 2014 in Money Matters
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“The truly wealthy are careful to spend their money on things that hold their value over time….  When it comes down to it, you might say that successful families do all the things unsuccessful families don’t want to do.” -Bill Bonner

“….yes, sometimes life isn’t fair and that the financial landscape is always tilted in favor of the wealthy and that minorities and women are sometimes victims of prejudice, etc.  But, if you want change, you have to ignore that and take responsibility for your financial future.” –Mark Ford