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40 Powerful Quotes That Will Inspire Your Mind For True Wealth

40 Powerful Quotes That Will Inspire Your Mind For True Wealth

The world is full of people looking for quick money and wealth, especially in this age of information technology and instant gratification. There is nothing particularly wrong with that, but too often we miss the mark in our quest for wealth and material possessions and fall short of what we truly desire in life. Here are powerful quotes and words of wisdom from some of the greatest thinkers and achievers in history that will inspire your heart and mind for true wealth and happiness in life.

On the True Measure of Wealth

1. “Wealth consists not in having great possessions, but in having few wants.” —Epictetus

2. “Money is only a tool. It will take you wherever you wish, but it will not replace you as the driver.” —Ayn Rand

3. “The gratification of wealth is not found in mere possession or in lavish expenditure, but in its wise application.” —Miguel de Cervantes

4. “Only when the last tree has died and the last river been poisoned and the last fish been caught will we realize we cannot eat money.” —Indian Proverb

5. “One man to live in pleasure and wealth whilst all other weep and smart for it, that is the part not of a king, but of a jailor.” —Thomas More

6. “We make a living by what we get. We make a life by what we give.” —Winston Churchill

7. “The real measure of your wealth is how much you’d be worth if you lost all your money.” —unknown

8. “The wealth of a soul is measured by how much it can feel… its poverty by how little.” —Sherrilyn Kenyon

9. “Integrity is the essence of everything successful.” —R. Buckminster Fuller

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10. “To be wealthy and honored in an unjust society is a disgrace.” —Confucius

Whinston Churchil

    Image: thenext28days via flickr

    On Taking Charge of Your Wealth

    11. “Let others lead small lives, but not you. Let others argue over small things, but not you. Let others cry over small hurts, but not you. Let others leave their future in someone else’s hands, but not you.” —Jim Rohn

    12. “Destiny is as destiny does. If you believe you have no control, then you have no control.” —Wess Roberts

    13. “If we command our wealth, we shall be rich and free. If our wealth commands us, we are poor indeed.” —Edmund Burke

    14. “Be master of your petty annoyances and conserve your energies for the big, worthwhile things. It isn’t the mountain ahead that wears you out – it’s the grain of sand in your shoe.” —Robert Service

    15. “Create a set of great personal values and surround yourself with the right people that can form your support system. Have an optimistic spirit and develop a strong purpose that you completely believe in and everything you can imagine is possible, for you.” —Andrew Horton

    16. “I am grateful for the blessings of wealth, but it hasn’t changed who I am. My feet are still on the ground. I’m just wearing better shoes.” —Oprah Winfrey

    17. “Wealth is the slave of a wise man. The master of a fool” —Seneca

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    18. “A wise man should have money in his head, but not in his heart.” —Jonathan Swift

    19. “An investment in knowledge pays the best dividends.” —Benjamin Franklin

    20. “Anything that you learn becomes your wealth, a wealth that cannot be taken away from you; whether you learn it in a building called school or in the school of life. To learn something new is a timeless pleasure and a valuable treasure. And not all things that you learn are taught to you, but many things that you learn you realize you have taught yourself.” ― C. JoyBell

    Benjamin Franklin

      Image: trustypics via flickr

      On Pursuing Wealth and Happiness

      21.“Happiness is not in the mere possession of money; it lies in the joy of achievement, in the thrill of creative effort.” —Franklin D. Roosevelt

      22. “It’s a kind of spiritual snobbery that makes people think they can be happy without money.” —Albert Camus

      23. “Money is neither my god nor my devil. It is a form of energy that tends to make us more of who we already are, whether it’s greedy or loving.” —Dan Millman

      24. “What good is money if it can’t buy happiness?” —Agatha Christie

      25. “View money and things not as something you create to fill a lack, but as tools to help you more fully express yourself and realize your potential.” —Sanaya Roman and Duane Packer

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      26. “Acknowledging the good that you already have in your life is the foundation for all abundance.” —Eckhart Tolle

      27. “Be thankful for what you have; you’ll end up having more. If you concentrate on what you don’t have, you will never, ever have enough.” —Oprah Winfrey

      28. “Both abundance and lack exist simultaneously in our lives, as parallel realities. It is always our conscious choice which secret garden we will tend… when we choose to be grateful for the abundance that’s present — love, health, family, friends, work, the joys of nature and personal pursuits that bring us pleasure — the wasteland of lack falls away and we experience heaven on Earth.” —Sarah Ban Breathnach

      29. “Seek not greater wealth, but simpler pleasure; not higher fortune, but deeper felicity.” —Mahatma Gandhi

      30. “Success is not the key to happiness. Happiness is the key to success. If you love what you are doing, you will be successful.” —Herman Cain

      Virgil Finlay

        Image: Thomas Shahan 3 via flickr

        On Attaining Wealth

        31. “It is not in everyone’s power to secure wealth, office, or honors; but everyone may be good, generous, and wise.” —Luc De Clapiers

        32. “Education is the great engine of personal development. It is through education that the daughter of a peasant can become a doctor, that the son of a mineworker can become the head of the mine, that a child of farm workers can become the president of a great nation. It is what we make out of what we have, not what we are given, that separates one person from another.” —Nelson Mandela

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        Nelson Mandela

          Image: redtouchmedia via flickr

          33. “The tragedy of life doesn’t lie in not reaching your goal. The tragedy lies in having no goal to reach.” —Benjamin E. Mayes

          34. “One important key to success is self-confidence. An important key to self-confidence is preparation.” —Arthur Ashe

          35. “When we feel stuck, going nowhere – even starting to slip backward – we may actually be backing up to get a running start.” —Dan Millman

          36. “Be ready when opportunity comes…. Luck is when preparation and opportunity meet.” —Roy D. Chapin Jr.

          37. “What is opportunity, and when does it knock? It never knocks. You can wait a whole lifetime, listening, hoping, and you will hear no knocking. None at all. You are opportunity, and you must knock on the door leading to your destiny.” —Maxwell Maltz

          38. “Fortune sides with him who dares.” —Virgil

          39. “No man should receive a dollar unless that dollar has been fairly earned.” —Theodore Roosevelt

          40. “No wealth can ever make a bad man at peace with himself” —Plato

          Featured photo credit: Celestine Chua via flickr.com

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          David K. William

          David is a publisher and entrepreneur who tries to help professionals grow their business and careers, and gives advice for entrepreneurs.

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          Published on May 7, 2019

          How to Invest for Retirement (The Smart and Stress-Free Way)

          How to Invest for Retirement (The Smart and Stress-Free Way)

          When it comes to stocks, I bet you feel like you have no idea what you’re doing.

          Everyone who’s not a financial expert has been there. I’ve been there. But, time is passing and you need to be crystal clear with how you’re investing for your retirement.

          Otherwise, it’s back to work until you can afford not to. So, how can you invest for retirement when you’re not a financial expert?

          You take the time to learn the fundamentals well. If you do, you can grow your wealth and retire happy. The best part is that you don’t need to be a financial expert to make smart investment decisions.

          Here’s how to invest for retirement the smart and stress-free way:

          1. Know Clearly Why You Invest

          Odds are you already know why should invest for retirement.

          But, maybe you know the wrong reasons. It’s time you get clear on why you’d like to retire. Here are some questions to help you get started:

          • Will you spend more time with your family?
          • What does retirement mean to you?
          • Are you looking to launch that business you’ve been holding off for years?

          Everyone wants to retire but not for the same reasons. Once you’re clear for why retirement is important for you, you’ll focus on making it happen.

          Investing in the stock market allows you to take advantage of compound interest.[1] All this means is that your money earns money on top of its interest. A reason why investment in the stock market is one of the best ways to plan for retirement.

          2. Figure out When to Invest

          “The best time to plant a tree was 20 years ago. The second best time is now.”– Chinese Proverb

          It’s true if you’d had started investing when you were 10 years old, you’d have a lot more money than you do today.

          The reality is that most people don’t start investing until it’s too late. So, if you’re currently waiting for the perfect time to start an investment, it would be today. Open your calendar and block out 2 to 3 hours to choose how you’ll invest for retirement.

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          A quick way to get a snapshot of where you stand is to use Personal Capital. Input all your personal information and spend some time setting your retirement goals. Once completed, you’ll know where you stand with your retirement.

          Having a savings account for retirement isn’t planning for retirement. Why? Your money loses value when you factor in US inflation.[2]

          3. Evaluate Your Risk Tolerance to Create the Perfect Portfolio

          Investing your money well depends on your emotions.

          Why?

          Because when the market drops most people panic and withdraw their money. On average, the US stock market yields an annual 6% to 7% ROI (return on your investment.) But, this won’t happen if you’re worried about short-term loses.

          Before you invest your next dollar, know your risk tolerance.[3] Your risk tolerance determines the number of risky and safe investments you’d have.

          Regardless of your investing style, you need to view investing for retirement as a long term game. Know that some years you’ll lose money but recoup this in the long-term.

          Avoid watching market-related new. Also, create a double authentication to log in your investment account. This way you’re less likely to withdraw your money.

          4. Open a Reliable Retirement Account

          Depending on your circumstance, you may need to open a new brokerage account. This is the account is where you’ll invest your money.

          If you’re currently working for a company, odds are that they offer a 410K investing account. If so, here’s where you’ll invest most of your money. The only problem with this is that you’re limited to the stock options that are available.

          You do have the option to open a separate IRA (individual retirement account.) Here are some of the best brokers:

          1. Vanguard
          2. TD Ameritrade
          3. Charles Schwab

          5. Challenge Yourself to Invest Consistently

          Committing to invest for retirement is hard, but continuing to do so is harder.

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          Once you’ve started investment for your retirement, you run at risk from stopping. Often you’ll want to contribute less, so you’d have more money in your pocket.

          That’s why it’s important that you create a budget that allows you to invest each month. If you’re working for a company, you can set a percentage for the amount you’d like to contribute each month. Most people by default contribute 1% but aim to contribute 10% to 15%.

          Be the judge for how much you can afford to contribute after covering important expenses. To stay motivated, use Personal Capital to view your net worth.

          A benefit to contributing money to your retirement account is not taxed. For example, if you earn $100 and invest 10%, you’d contribute $10, then get taxed on the remaining $90. As of 2019, the most you’re able to contribute towards your 401K is 19K but this can change.

          6. Consider Where to Invest Your Money

          The most common way to invest your money is in stocks, but it’s not the only way. Here are other ways to invest:

          Robo Advisors

          Robo-advisors[4] are fancy algorithms that’ll choose the best investments for you. Sites like Wealthfront make it easy for first-time investors to invest their money. You’d input information about yourself and set your risk tolerance.

          Then, set your monthly contribution amount and your robo-advisor would do the rest. Robo-advisors charge a fee to manage your money, but less than regular advisors.

          Bonds

          Think of bonds as “IOUs” to whomever you buy them from.

          Essentially, you’re lending money and charging interest. Like stocks, not all bonds are equal. Some will be riskier than others depending on their rating.

          Here are the different types of bond categories:[5]

          1. Treasury bonds
          2. Government bonds
          3. Corporate bonds
          4. Foreign bonds
          5. Mortgage-backed bonds
          6. Municipal bonds

          Mutual Funds

          Picture a group of people dumping all their money in a jar that’s managed by a professional. This is how mutual funds work. The fund manager manages the money looking to earn capital gains (interest.)

          One of the best types of mutual funds is index funds. Since these funds don’t try to beat the market and instead follow it, they need less research. Because of this they often charge the lowest fees and yield the best long-term results.

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          Real Estate

          Yes, buying a home is an investment when done correctly.

          Imagine buying a home and using it as a rental property. After repairing it, you receive a monthly surplus check of $100 to $200.

          This may not sound like a lot, but repeat this process enough times and you’d earn a large amount of passive income. That’s why real estate is one of the best investments to not only retire but become wealthy.

          But, it requires a lot of money to start and you should expect losing money along the way as you learn the process.

          Savings Accounts

          Your money can still grow in a savings account. Nowadays most online banks offer a 2% annual return. Although the average inflation is higher your money will be available when you need it.

          7. Master Disincline to Dodge Short Success

          Investing for retirement is a long-term strategy. That’s why you need to master delayed gratification. All this means is delaying short-term pleasure for something bigger in the future. Research shows that those who have delayed gratification are more successful.[6]

          So how can you master delayed gratification?

          By building your discipline.

          Think back to what retirement means to you. A clear purpose will help you avoid withdrawing your money during a market downturn. It’ll help you contribute more towards retirement when you’d want to waste it instead.

          Your journey towards retirement will be long, so reward yourself along the way. Choose a reward that’s relevant and meaningful, so that you reinforce positive behavior. For example, after contributing more towards retirement, treat yourself to dinner.

          8. Aggressively Invest on This One Investment

          I’ve mentioned several types of investments but haven’t covered the most important one.

          It sounds cliche but here’s why you’re your best investment towards retirement. The more you know, the more money you’ll be able to make. The more good habits you adopt, the more secure your retirement will be.

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          More importantly, investing in yourself is an investment that no one can take away. There’s no market downturn nor tragic circumstance that’ll wipe your knowledge and experience.

          But, how can you invest yourself?

          Reading books, blogs, and anything that’ll help you learn new topics daily. Listen to podcasts and audiobooks on your commute to/from work.

          Save money to buy courses and hire coaches. I used to believe hiring coaches was a waste of money when I could learn the subject alone.

          But, coaches see your blind spots and hold you accountable. Hiring the right coach will help you achieve your goals faster than you would’ve alone.

          Retire Happy with Excess Money

          The key to a secure financial future doesn’t only belong to financial experts.

          It’s possible for you and I. What if you were able to retire earlier than most people and weren’t a financial planner? What if you were able to focus on what you enjoy doing the most while your money was working hard for you?

          I know this sounds impossible now, but the truth is you’re capable of taking charge of your retirement. I’m not a financial expert but I’ve learned how to invest my money by reading books and learning from others.

          Investing your money is scary. So start small and invest a small amount of your money with a robo-advisor. Feel your money drop and rise for a month or two. Then, invest more and keep this up until you’re aggressively saving for retirement.

          One day, you’ll wake up with a net worth you’re proud of – confident about your retirement. You now know a few strategies you can use to invest in your retirement. Will you take action to retire happy?

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          Featured photo credit: Matthew Bennett via unsplash.com

          Reference

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