1. “Rule No. 1: never lose money; rule No. 2: don’t forget rule No. 1” – Warren Buffet
Spoken by one of the most successful investors and businessmen of the 20th century, these simple words carry a lot of depth. Although losing money is a risk you’ll take when making a financial investment, making informed, wellesearched decisions can minimize the risk of loss. Buffet’s investment philosophy is choosing value over price, even if it means waiting until you can get that value at a fair price.
2. “An investment in knowledge pays the best interest.” – Benjamin Franklin
Ben Franklin spoke one of the most famous investment quotes of all time. The more we invest in ourselves and what we know, the more educated decisions we can make. Knowledge is an intangible asset that will always yield a return if used wisely. Therefore, an investment in knowledge is always a smart move.
3. “Formal education will make you a living; self-education will make you a fortune.” – Jim Rohn
We already know that education is a wise investment and knowledge is power. Now, those who desire to learn and improve continuously, open the doors to endless possibilities. Setting personal goals to learn new things and master the skills you already have, will not only improve your earning potential but optimize your life.
4. “How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case.” – Robert G. Allen
This well-known author and Canadian-American businessman made a pretty solid argument when he made this statement. The reality is, acquiring wealth involves more than just saving. It involves making the right investments to build your net worth.
5. “It’s not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for.” – Robert Kiyosaki
Robert Kiyosaki, American investor, financial speaker and author of the Rich Dad, Poor Dad book series stresses the fact that it’s not important how much money you make, but rather how you manage your money. If you’re living an extravagant lifestyle with no regard
to the future, that wealth will eventually run out. Now, making money, investing it wisely and making sure it continuous to grow for generations to come, is a lesson worth learning.
6. “Know what you own, and know why you own it.” – Peter Lynch
Investing in what you know and understand is vital in making good investments. If you actually understand the industry or product you’re investing in, chances are, you’ll spend more time researching it, which will give you an advantage over your investments.
7. You don’t need to be a rocket scientist. Investing is not a game where the guy with the 160 IQ beats the guy with 130 IQ. – Warren Buffet
You don’t need to be a Wall Street Advisor or hold a finance degree to become a successful investor. Anyone with financial goals can make wise investments with their money. The important thing is that you understand what it is you are investing in, along with the benefits and any risks associated with your investment decision.
8. “The individual investor should act consistently as an investor and not as a speculator.” – Ben Graham
Warren Buffet’s mentor, Ben Graham, couldn’t be more on point. Investing requires continuous attention and awareness. Staying on top of your investment portfolio and any factors that could affect the nature of your investments, is key in making the right moves with your capital and growing your wealth. Never invest and forget!
9. “Financial peace isn’t the acquisition of stuff. It’s learning to live on less than you make, so you can give money back and have money to invest. You can’t win until you do this.” – Dave Ramsey
New York Times best selling author and TV and Radio personality, Dave Ramsey stated the truth many people refuse to hear. Learning to live a simple, yet happy life by living below your means, will allow you to multiply your earnings and give back to the community. Although commodities are wonderful, there is greater satisfaction in being able to help others while building your wealth.
10.Too many people spend money they earned..to buy things they don’t want..to impress people that they don’t like. – Will Rogers
This Roaring Twenties celebrity and social commentator made an embarrassingly valid observation. Society, both now as it has then, is too focused on displaying wealth through an over the top, luxurious lifestyle. Wealth, should allow you to enjoy the more meaningful
things in life, with those you truly want to spend your time with.