As we see from his Proverbs, the great King Solomon’s words for successful money management are simple: acquire wisdom, act prudently and plan for long term gain. And those ageless principles are echoed in the words of today’s market watchers, who weigh in from a variety of perspectives with advice remarkably similar to that of the King.
“Speculation is an effort, probably unsuccessful, to turn a title money into a lot. Investment is an effort . . . to prevent a lot of money from becoming a little.” –- Fred Schwed, Jr.
Where are the Customers’ Yachts? Or a Good Hard Look at Wall Street.
“If there is one thing that marks families with money in the long term it is this: delayed gratification.” — Bill Bonner, Family Business: How to Build Family Wealth and Hold Onto It for 100 Years
“Investing money is the process of committing resources in a strategic way to accomplish a specific objective.” — Alan Gotthardt, The Eternity Portfolio
“Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas.” – Paul Samuelson
“How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case.” — Robert G. Allen
“The individual investor should act consistently as an investor and not as a speculator.” — Benjamin Graham.
“Thou shalt not gamble. Be a prudent long-term value investor, never a get rich quick gambler, speculator or flipper.” — Jason Hartman, Commandment 5 of the 10 Commandments for Successful Investing.
Different voices, but a shared, essential theme: for investing success, long-term commitment to a clear goal is the key to building wealth. And as Jason Hartman says, investing in income property is the slow and steady strategy that wins the race. (Top image: Flickr/emilystaubert)
Join Jason Hartman and his team of investing experts in Austin TX on September 28, 2013 for the one day Austin Executive Property Tour of hot investment properties in Austin’s thriving economy. For more information, click here.
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The Jason Hartman Team