20 Timeless Money Rules
I won’t lift their copyrighted material, but let me save you
the 20 clicks: Here are a collection of quotes that addresses the same issues that CNN addresses:
1. Be humble
When you do not know a thing, to allow that you do not know it--this is knowledge.
--Confucius2. Take calculated risks
He that is overcautious will accomplish little.
--Friedrich von Schiller3. Have an emergency fund
For age and want, save while you may; no morning sun lasts a whole day.
--Benjamin Franklin4. Mix it up
It is the part of a wise man to keep himself today for tomorrow and not to venture all his eggs in one basket.
--Miguel de Cervantes5. It's the portfolio, stupid
Asset allocation...is the overwhelmingly dominant contributor to total return.
--Gary Brinson, Brian Singer and Gilbert Beebower6. Average is the new best
The best way to own common stocks is through an index fund.
--Warren Buffett7. Practice patience
It never was my thinking that made the big money for me. It was always my sitting. Got that? My sitting tight!
--Edwin Lefevre8. Don't time the market
The real key to making money in stocks is not to get scared out of them.
--Peter Lynch9. Be a cheapskate
Performance comes and goes, but costs roll on forever.
--Jack Bogle10. Don't follow the crowd
Fashion is made to become unfashionable.
--Coco Chanel11. Buy low
If a business is worth a dollar and I can buy it for 40 cents, something good may happen to me.
--Warren Buffett12. Invest abroad
The World is a book, and those who do not travel read only a page.
--St. Augustine13. Keep perspective
There is nothing new in the world except the history you do not know.
--Harry Truman14. Just do it
It takes as much energy to wish as it does to plan.
--Eleanor Roosevelt15. Borrow responsibly
As life closes in on someone who has borrowed far too much money on the strength of far too little income, there are no fire escapes.
--John Kenneth Galbraith16. Talk to your spouse
"In every house of marriage there's room for an interpreter."
--Stanley Kunitz17. Exit gracefully
Only put off until tomorrow what you are willing to die having left undone.
--Pablo Picasso18. Pay only your share
The avoidance of taxes is the only intellectual pursuit that carries any reward.
--John Maynard Keynes
19. Give wisely
The time is always right to do the right thing.
--Martin Luther King Jr.20. Keep money in its place
A wise man should have money in his head, but not in his heart.
--Jonathan Swift
Never hurts to learn from people smarter and/or more experienced than yourself . . .
>
Source:
20 timeless money rules
Carla Fried
Money Magazine, August 7, 2007
http://money.cnn.com/galleries/2007/moneymag/0708/gallery.20_rules.moneymag/index.html
Sunday, September 02, 2007 | 06:26 AM | Permalink
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0. Pick rich parents...
Posted by: donna | Sep 2, 2007 12:53:34 PM
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