I love a good quote. Just a few wise words can convey so much. I’ve included some of my favorites below and I want to hear yours too. Before we get to that, let’s review last week’s question.
Kids And Money
Last week, I asked you if you share your finances with your children. I like to be as open as possible, so I share details of our financial picture with Older Daughter. Younger Daughter isn’t quite ready to handle some of the information, so we hold back. Here is what you had to say:
Reader Joy’s comment is funny, but also illustrates the danger of sharing:
When we paid off our house 2 years ago, I wanted our daughter to know the significance of it so I included her in “helping” me make the final payment. The next weekend my sister was talking about buying a house, my then 6 year old says “my mom and dad just paid for ours, so they could buy you a house.”
Love this bit from Jason over at Winning Personal Finance:
He’s already self-discovered the concept of FIRE when I explained how banks pay interest for holding your money and he asked if I can add his piggy bank money to the real bank so I don’t have to go to work anymore.
I like what JRobi from The Twisted Gardener had to say:
My kids seeing my wife and in our late 40s able to save half our income and have the freedom to do whatever we want, but continue to plan, save and talk out loud about money and investing seems to have way more of an impact than simply telling them about it.
I like the way Reader Tim thinks and the same goes for our kids. No matter how much we have, they need to know how (and why) to work hard:
When the opportunity arose, I clarified the difference between his mother’s and my achievements, and his lack thereof. I don’t care so much that my kids know my net worth as I do that they not mistakenly think they will get there without hard work and counter-cultural choices. People thrive in productivity, so our kids know they will have nothing if they don’t work, save, and invest themselves. There is no entitlement or faux-achievement being promoted in our house.
Tawcan may have grown up in the most well-adjusted home on earth:
My parents were pretty open with my brother and me when it comes to household finances growing up, we were often involved in financial decisions. This open discussion with money continues today as we are all quite open with discussing salaries, net worth, investments, etc.
My Favorite Quotes
I love collecting good quotes. I have a big, online document where I keep my favorites. Some of the ones below are also from a fun book I stumbled across recently called The Xanwar Manifesto.
Instead of studying how to make it worth men’s while to buy my baskets, I studied rather how to avoid the necessity of selling them. –Thoreau
Wait, did Thoreau invent FIRE?
While I’m fully aware that money can’t buy happiness, I wouldn’t mind being known as “the melancholy guy who drives the red Lamborghini Diablo.”
I’d rather have silver.
The way to make money is to buy when blood is running in the streets. –John D. Rockefeller
The most difficult part of investing is controlling your temperament. It’s easy, but dangerous to run with the herd.
You are being bombarded on a daily basis by a financial media who has realized over time that the best way to keep you paying attention is simple: Scare the pants off you.
The financial “news” is at best, misleading. At its worst, it’s dangerous to your financial health.
If you risk nothing, you risk everything. –Sylvester Stallone
I’ve had young people send me emails stating that they’re all in cash because:
- The stock market is gambling!
- I’m too scared.
- I’m waiting for a 50% correction!
Good luck with those.
Life is either a daring adventure or nothing. –Helen Keller
You only get one turn. Put the pedal to the metal.
Wanting to be someone else is a waste of the person you are. –Kurt Cobain
Would you rather have someone like you for who you are or for who you pretend to be? Choose the former.
If it scares you, it might be a good thing to try. –Seth Godin
Great things happen when we leave our comfort zones.
Good judgment comes from experience which comes from bad judgment. –Tom Gayner
Brad Barrett of Choose FI mentioned Tom Gaynor to me a while ago. Brad said that Tom is pretty smart and I should pay attention to him, so I went to see him speak in Omaha a couple years ago. Brad was right.
There’s a fine line between fishing and standing on the shore like an idiot.
Simplicity is the keynote of all true elegance. –Coco Chanel
Simple is good.
When trouble arises and things look bad, there is always one individual who perceives a solution and is willing to take command. Very often that person is crazy.
This quote makes me laugh and terrifies me simultaneously.
If it’s in the news, don’t worry about it, because by definition news is something that almost never happens. –Jonathan Haidt
Paying attention to the daily news is a recipe for an unhappy life. Turn off the tube.
Open your mouth only if what you are going to say is more beautiful than the silence. –Buddha
People who never stop talking annoy me. A lot.
Pain is inevitable. Suffering is optional.
It’s all in our perception.
Never, never, never give up. –Winston Churchill
How About You?
I hope that you’ve enjoyed my quotes. What are some of your favorite quotes or pieces of advice?
Join the 10s who have signed up already!
Subscribing will improve your life in incredible ways*.
*Only if your life is pretty bad to begin with.