Robert Kiyosaki: “The single most powerful asset we all have is our mind. If it is trained well, it can create enormous wealth in what seems to be an instant”
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
"I believe in the discipline of mastering the best that other people have figured out. I don't believe in just sitting down and trying to dream it all up yourself. Nobody is that smart."
— Charlie Munger
10 steps in which financial growth can be achieved, either individually or business.
1.Set Clear Financial Goals
2.Create a budget
consistently
4.Invest wisely
5.Increase your income
6.Reduce and manage debts
7.Continuous education
8.Monitor and
Your smallest habits have the most impact: what you read, what you watch, who you spend time with, and how you talk to yourself. These determine whether your life will change for the better or worse.
"A great place to look for bargains is on the pile of things other people won’t touch, because, by definition, their prices embody no optimism."
— Howard Marks
“There is more than one method by which an investor, if sufficiently skilled, can over the years make some money - occasionally even really worthwhile money...”
— Phil Fisher
“You have to invest the way that’s comfortable for you.”
— Walter Schloss
"The most important quality for an investor is temperament, not intellect. You need a temperament that neither derives great pleasure from being with the crowd or against the crowd." - Warren Buffett
The ultimate power in speeding up your investment journey,
Is learning from others' mistakes without having to make them.
It is one of the toughest skills to have but offers the highest ROI.
One Of The Secrets Of Wealth is
Spend Less Than You Earn: This is the cornerstone of wealth building. You need to create a gap between what you earn and what you spend, which can be used for saving and investing.
Saw this somewhere and it really hit me:
"Your father is the only man in the world who will be happy when you out-succeed him."
A father whose child is thriving is the happiest man in the world.
Ironically, the best way to retire off dividend income is to not invest in high dividend paying stocks.
Investing in more growth oriented businesses that produce higher total returns will get you to the portfolio value you need quicker.
Key aspects of financial stability include the resilience of financial institutions, the proper functioning of financial markets, and the financial system's ability to facilitate effective payment and settlement processes.
"Before looking at new investments, we consider adding to old ones. If a business is attractive enough to buy once, it may well pay to repeat the process."
— Warren Buffett
"Its good to have money and the things that money can buy, But its good too, to checkup once in a while that you havent lost the things that money cant buy."
"Investing is an art—we tried to be as logical and unemotional as possible. Because we understood investors are usually affected by the market, we could take advantage by being rational.
As Ben Graham said: 'The market is there to serve you, not to guide you!''
- Walter Schloss