I have chosen 10 quotes from some of the great entrepreneurs and business influencers around the world. I believe, it is yes important to read the quotes to get that quick boost of motivation but more so to understand the meaning behind the quote and how you can apply it to your own life. Below each quote I have put the meaning or what I think is the main message from each quote.
1. "How many millionaire do you know who have become wealthy by investing in savings accounts? I rest my case."
- Robert G. Allen
Meaning: You definitely won't become wealthy putting your money in a savings account. You NEED to find other money making vehicles that suit you and help you on your road to wealth!
2. Rule No.1 Never lose money. Rule No.2 Never forget rule No.1"
- Warren Buffett
Meaning: Don't be dumb with your money! Investing is something you must learn and assure you don't lose money in any deals. Read, watch and grow to assure good returns on your money.
3. "I will tell you the secret to getting rich on Wall Street. You try to be greedy when others are fearful. And you try to be fearful when others are greedy."
- Warren Buffet
Meaning: DON'T FOLLOW THE CROWD. If you are doing what everyone else is doing you will end up like everyone else. Buy when others sell, and sell when others buy!
4. " Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas."
- Paul Samuelson
Meaning: This one is pretty self explanatory. If you think of investing like gambling your mindset towards it is completely wrong!
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
Meaning: Having money is good but its how you turn that money into assets which can make money for you forever! There is no point of earning $100k a year if you spend $100k a year!
6. "Money can't buy happiness, but it will certainly get you a better class of memories."
- Ronald Reagan
Meaning: Emphasises that money will not buy you happiness. However, by having money it will give you slightly more freedom to experience more things than if you didn't have it.
7. "You must gain control over your money or the lack of it will forever control you."
- Dave Ramsey
Meaning: Dave stresses that if you do not control your money it will control you. This relates to Ronald Reagan (Quote 6) as by having more money and more control over it will in turn treat you with more freedom!
8. "Wealth is not about having a lot of money; its about having a lot of options."
Meaning: AGAIN! Do you see a common trend between the last 3 quotes! Having money and wealth only gives you more freedom! The level of wealth you have indicates the level of freedom! It's up to you to decide how much freedom you want.
9. "The individual investor should act consistently as an investor and not as a speculator."
- Ben Graham
Meaning: Speculating is the death of most investors. They invest on what they hear or think will turn a profit for them in regards to price fluctuations. Whereas a consistent investor will invest regularly in their chosen wealth vehicle regardless of the prices.
10. "Money poisons you when you've got it, and starves you when you haven't."
- D.H. Lawrence
Meaning: I don't whole heartedly agree with the first part. I believe money can poison you yes, however this all comes down to the type of person who possesses the money. Money in the right hands can do good for not only themselves but others. And on the other side money can and will starve you if you do not possess it.
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Warren Buffet Quote: tallengestore.com
Dave Ramsey Quote: due.com
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