Wealth Accumulation Quotes

Our entire society is rooted around the idea of more, and longer has become the measure of success.

Do not march or precipitate your attack. The Saracens are like a torrent which is dangerous to stem … Be patient till they have loaded themselves with the encumbrances of wealth.

The big money is not in the buying and selling ... but in the waiting.

The Stock Market is designed to transfer money from the Active to the Patient.

The less you eat, drink and read books; the less you go to the theatre, the dance hall, the public house; the less you think, love, theorize, sing, paint, fence, etc., the more you save-the greater becomes your treasure which neither moths nor dust will devour-your capital. The less you are, the more you have; the less you express your own life, the greater is your alienated life-the greater is the store of your estranged being.

Spend less than you make; always be saving something. Put it into a tax-deferred account. Over time, it will begin to amount to something. This is such a no-brainer.

Patience in Market, is worth Pounds in a year.

To get rich is glorious.

After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight!

Among the many other questions raised by the nebulous concept of “greed” is why it is a term applied almost exclusively to those who want to earn more money or to keep what they have already earned—never to those wanting to take other people’s money in taxes or to those wishing to live on the largesse dispensed from such taxation. No amount of taxation is ever described as “greed” on the part of government or the clientele of government.

Understanding both the power of compound interest and the difficulty of getting it is the heart and soul of understanding a lot of things.

All amassing of wealth or hoarding of wealth above and beyond one's legitimate needs is theft.

Don't become a philosopher before you become rich.

The fastest way to become rich is to socialize with the poor; the fastest way to become poor is to socialize with the rich.

The poor and the middle class work for money. The rich have money work for them.

If you're going to buy something which compounds for 30 years at 15% per annum and you pay one 35% tax at the very end, the way that works out is that after taxes, you keep 13.3% per annum. In contrast, if you bought the same investment, but had to pay taxes every year of 35% out of the 15% that you earned, then your return would be 15% minus 35% of 15%-or only 9.75% per year compounded. So the difference there is over 3.5%. And what 3.5% does to the numbers over long holding periods like 30 years is truly eye-opening.

Riches, when they come in huge quantities, are never the result of HARD work!

You must gain control over your money or the lack of it will forever control you.

Our standard prescription for the know-nothing investor with a long-term time horizon is a no-load index fund. I think that works better than relying on your stock broker. The people who are telling you to do something else are all being paid by commissions or fees. The result is that while index fund investing is becoming more and more popular, by and large it's not the individual investors that are doing it. It's the institutions.

You become financially free when your passive income exceeds your expenses.

The way to become rich is to put all your eggs in one basket and then watch that basket.

If someone gives you $1,000,000 you'd better become a millionaire so you can keep the money. Success doesn't want to hang around incompetent people.

The key to financial freedom and great wealth is a person's ability or skill to convert earned income into passive income and/or portfolio income.

It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong