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.
Money
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:
Insert one:
- The stock market is gambling!
- I’m too scared.
- I’m waiting for a 50% correction!
Good luck with those.
Life
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.
Random
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?
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I like the Churchill quote. You just got to keep trying, no matter how hard it is. That’s life. Nowadays, my personal mantra is “keep at it.” Just keep going and it should turn out okay.
I love that Churchill quote too. If I ever get a tattoo (not gonna happen), that would probably be it.
That’s ground for divorce in the RB40 household. Mrs. RB40 really dislike tattoo.
“An Object in possession seldom retains the charm it had in pursuit” Pliny the younger
It reminds me to dig deeper to ensure I really want something and not just the thought of having it.
I love this quote too, and it’s applicable to our most recent chapter (perma-travel), which seemed more exciting as a concept than it turned out to be in reality. We liked it, but didn’t love it. We’re currently figuring out what our next chapter will be like instead.
MarciaB @ baggypop.com recently posted…Do You Suffer From “Too Much and Too Many” Syndrome?
Interesting you say that because I feel the same. It feels good to travel, but also feels good to have a home base and routine to enjoy.
That one resonates (looking at fancy car in the garage)…
That Buddah quote is A+.
Man, I wish that more people used that as a filter.
Mr PoP @ Planting Our Pennies recently posted…Hello Bigger Pockets Money Listeners…
“There’s a fine line between fishing and standing on the shore like an idiot.”
I enjoy navigating this line despite only occasional success.
A quote from economist Luis Rayo helps me not get on the hedonic treadmill as much as I used to:
“We are always comparing what we have to something else. But we’re not anticipating that no matter what we have, we will always be comparing it to something else.”
Brian @ The Graying Saver recently posted…How Do You Balance Spending vs. Expectations?
Hedonic treadmills won’t give you a heart attack, but they’re a recipe for misery all the same.
“the body thrives on consistency.” i said this to a friend about training for a race in 1985 but it applies to finances, education, and life in general i think.
“get rich once.” goes along with “when you’ve won the game, stop playing.”
freddy smidlap recently posted…Work Wasn’t Working So We’re Monetizing Our Dog!
I find the best philosophies will cross boundaries in that way: Slow and steady wins the race, keep it simple, focus on your priorities, etc.
One piece of advice that I have used from my grandpa. You should try to fix anything once. That way you know why you are willing to pay someone if you don’t want to do it in the future and you might be surprised and what you can fix on your own.
I have done this several times in my life and there are things I know I am willing to do and things I now know I am willing to pay someone to do. I feel like he would have really enjoyed youtube and being able to look up a repair for almost anything on there.
I LOVE this quote. How many won’t even try?
That Buddha quote!
Here’s one of my favorite quotes (from Charlie Munger of course!)
“It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.”
Mr. Tako recently posted…July 2018 Travels, Dividend Income, And Expenses
That is a GREAT one from a great man.
“We buy things we don’t need, with money we don’t have, to impress people we don’t like.” -Fight Club
LOVE that movie.
I’ve found a few that I really, really dig:
“Mistakes are the exhaust of the dream machine.” – John Mayer
“The more pleasures a man captures, the more masters he will have to serve.” – Lucius Annaeus Seneca
“‘Should’ is a lousy word.” – Carolyn Hax
Those are all good. The last is may be my favorite.
Not to get all 90s Hip-Hop on you, but…”I’d rather die like a man than live like a coward.” – Tupac
and… “People are frugal in guarding their personal property; but as soon as it comes to squandering time, they are most wasteful of the one thing in which it is right to be stingy.” – Seneca
The unexamined life is not worth living – Socrates
Not a quote but a very interesting question to ask interesting people: “What do you know is true but very few people agree with you?”
financialfreedomsloth recently posted…Monthly expense report: July
Whoah! What answers do you have for that one??!?
A very interesting answer that is most definitely not fit for publication on a public blog 😊
Haha, go for it!
My Dad told me when I was complaining about spending time looking for a lost spade (cost of about £10)
“It’s much easier to spend your money than it is to earn it”
Probably told me when I was 16 and it’s stayed with me since. Never did find that spade.
Mr 52Fire recently posted…The Current State of Affairs
How great it is that you heard that when you were 16 and it stuck.
Hi Mr. 1500 –
It’s been a busy summer but i’m finally catching up on your blog. It looks like some fun adventures for you guys.
If i didn’t find this quote on your site, it definitely belongs here. For me, it says it all!
“Life is short. Smile while you still have teeth.” (Author unknown)
Looking forward to seeing you guys again soon!
“Accept responsibility for your life. Know that it is you who will get you where you want to go, no one else.” – Les Brown
Great list of quotes! I love this quote because it reminds me to not wait around for things to happen.
Lorenza recently posted…35 of the Most Beautiful Dog Quotes and Sayings
One that stuck with me:
“Excuses are like A##holes: Everyone has one, and nobody wants to hear yours.” – Dad
I like what you say. And I will follow it to live better
Your citations are very useful and meaningful. I agree with these concepts.
“on the path of success without lazy footprints”