Ludwig von Mises Quotes

If you're extremely rich, and you have got children, my theory was, you give them enough so they can do anything, but not enough so they can do nothing.

The right amount of money to leave children is enough money so that they would feel they could do anything, but not so much that they could do nothing

The - the early Rockefellers made their wealth from being in certain businesses and - and remained personally very wealthy. Tatas were different in the sense the future generations were not so wealthy. They - they were involved in the business, but most of the family wealth is put into trust, and the family did not, in fact, enjoy enormous wealth.

Family business management is a discipline that has evolved from an art into a science. The market for this line of education has been created by the growing recognition of family-run companies that shareholders are demanding greater clarity on issues ranging from succession to the management of wealth and the distribution of profits.

When we lavish our money we rob our heir; when we merely save it we rob ourselves.

The spendthrift robs his heirs the miser robs himself.

When we have money, we start making mistakes.

Money... is like a beautiful thoroughbred horse - very powerful & always in action, but unless this horse is trained when very young, it will be an out-of-control & dangerous animal when it grows to maturity.

If you expect your money to take care of you, you must take care of your money.

Money is like gasoline during a road trip. You don’t want to run out of gas on your trip, but you’re not doing a tour of gas stations.

Capital formation is shifting from the entrepreneur who invests in the future to the pension trustee who invests in the past.

It is better to be a lender than a spender.

I've never been good at the money thing. I have had a couple of really nice but inept managers, and a business accountant that ripped me off. But I cannot totally blame my money making lameness on them.

The more money you have to work with, the more people you have to deal with that you probably don't want to be spending time dealing with.

As you manage your money, you manage your life.

The best advice I was ever given was on my twenty-first birthday when my father said, Son, here's a million dollars. Don't lose it.

Riches are for spending.

Great wants proceed from great wealth; but they are undutiful children, for they sink wealth down to poverty.

He who is extravagant will quickly become poor; and poverty will enforce dependence, and invite corruption.

The secret of the difficulties of those people who make a great deal of money, and yet are always in want of it, is this-they throw it away as soon as they get it on the first whim or extravagance that strikes them, and have nothing left to meet ordinary expenses or discharge old debts.

Don't live beyond your means. Don't buy more than you can pay for. Don't expect to get rich quick. And don't confuse salesmen for friends or advisers.

If you're lucky enough to have a few hundred thousand dollars in the bank account, that should be sufficient for your own personal needs, and anything more than that you've got to put to good use.

Not teaching your kids about money is like not caring whether they eat. If they enter the world without financial knowledge, they will have a much harder go of it.

Never spend anything before thou have it; for borrowing is the canker and death of every man's estate.

Anyway, when I got out of the Army, I went to see a therapist. And she said, what seems to be the trouble? And I said I want to give all my money away. And she said, how much do you have? And I said, I owe $300. She stared at me for several seconds, and she said, I see. Well, let's get to work. And maybe by the time you do have some money, you'll be wise enough to know what to do with it.