Assets put money in your pocket, whether you work or not, and liabilities take money from your pocket.
In the simplest terms, inflation occurs when there’s too much money in the system. On the flip side, deflation occurs when there are too few dollars in circulation.
My dad seemed comfortable with his decision to be a ‘have-not,’ but I knew that I wasn’t.
The rise in the price of gold is a sign that capitalism has stumbled.
We go to school to learn to work hard for money. I write books and create products that teach people how to have money work hard for them.
In military school, on day one you must memorize the mission of the Merchant Marine Academy.
Few people realize that luck is created.
Warren Buffett is famous for talking about the ‘intrinsic value’ of stocks. But while many people parrot this phrase, few know what it really means.
You do not have to be a rocket scientist to know that it is hard for a market to keep going up when more and more people are getting out.
That’s correct, I flunked out of high school twice because I couldn’t write.
The environmentalists say capitalism is killing our oceans, air, land, and forests. Capitalists argue that they provide food, fuel, and building materials for a growing world.
I still consider myself a little, fat kid from Hawaii.
Face your fears and doubts, and new worlds will open to you.
Commodities such as gold and silver have a world market that transcends national borders, politics, religions, and race. A person may not like someone else’s religion, but he’ll accept his gold.
Getting rich is about fun. It’s a game, and you have to treat it that way.
If you must invest in paper, learn to be an options trader. Then you will know how to make money whether the markets are going up or down.
Jim Cramer is a very smart man. I watch his show. I just do not follow his advice.
Intelligent people should learn from their experiences. With people on the street, the bad experience has beaten them.
Success is not a stop sign.
Many people will have nothing at the end of their working lives.
I mean, Hawaii is beautiful, but the world is full of beautiful places.
The problem with real estate is that it’s local. You have to understand the local market.
People concerned about inflation today tend to buy big houses and nice cars.
When my book ‘Rich Dad’s Prophecy’ was released in 2002, most financial newspapers and magazines trashed it because I discussed a looming stock market crash.
The Spanish Empire eventually collapsed because of its expensive taste for warfare and conquest.
When President Obama speaks about raising taxes on the rich, he speaks about high-income employees and small business owners, not entrepreneurs who build big businesses.
During the Enron debacle, it was workers who took the pounding, not bankers. Not only did Enron employees lose their jobs, many lost their retirement savings. That’s because they were at the bottom of the investing food chain.
Inside of every problem lies an opportunity.
The problem with being an employee or self-employed is you pay the highest taxes.
The Nasdaq bubble and crash were followed by the real estate bubble then subprime crash, which led to the unprecedented printing of trillions of dollars in an attempt to prevent a global depression.
The state of the economy is not the issue when it comes to growing a business. The relevant questions are always: ‘What business are you in? Furthermore, is it adapting to the times?’
Academic qualifications are important and so is financial education. They’re both important and schools are forgetting one of them.
Jobs are a centuries-old concept created during the Industrial Revolution. Despite the reality that we’re now deep in the Information Age, many people are studying for, or working at, or clinging to the Industrial Age idea of a safe, secure job.
If you want to know why the towers of American capitalism are crumbling, I recommend reading ‘The Creature from Jekyll Island’ by G. Edward Griffin.
Everything the working class has been told to do, the rich do not do. That is my message.
Any time an investment company has to spend heavily on advertising, it’s probably a bad business in which to invest.
I do not live on false promises. I cannot afford to live on bad advice.
Our brains are either our greatest assets or our greatest liabilities.
If you don’t like the idea that most of the money spent on lottery tickets supports government programs, you should know that most of the earnings from mutual funds support investment advisors’ and mutual fund managers’ retirement.
I did have two dads; one was a socialist, and one was a capitalist. I really decided I would rather be a capitalist.
Deflation isn’t good, and inflation is easier to cure than deflation.
It was easy being healthy when I was young. I was full of energy, so sports and physical challenges were fun. But as I got older and the spring left my step, exercise became harder, and eating, drinking and watching TV became easier. By the time I was 50, I’d put on 50 pounds.
Money is kind of a base subject. Like water, food, air and housing, it affects everything yet for some reason the world of academics thinks it’s a subject below their social standing.
As a young kid, I really wanted to be rich.
The rich are those who play to win. The middle class plays not to lose.
When you think about it, three of our biggest financial decisions in life are made at times of peak emotional excitement: deciding to get married, buying a home, and having kids.
Israel will not tolerate Iran developing nuclear power, even if Iran claims it is for peaceful purposes. If there is an attack, oil prices will go through the roof.
You can’t take care of charity unless you take care of yourself first.
I worked for Xerox for 4 years and after that I knew I was never going to be a corporate person. It wasn’t my environment.
There may be less of a chance of losing all the money you put into a mutual fund than there is of losing all the money you put into lottery tickets, but you’re never going to win big in a mutual fund.
It’s time to start thinking differently about money and debt and start the healing process – and the process toward wealth and freedom. ‘Freedom from Bad Debt’ can get you started.
The minute a Wall Street firm purchases your debt, your bank no longer has it on its financial statement, which then allows the bank to look for more credit card customers. That’s one reason why you get so many credit card offers.
It’s easier to aim to please and say what others want to hear than to form an opinion and fight for it, even if it means taking a risk or losing your job.
People clinging to job security, savings, retirement plans, and other relics will be the ones financially-ravaged from 2010-2020, the most volatile world-changing decade in history.
I’m a cash flow guy. If it doesn’t make me money today, forget about it.
You make more money if you’re generous.
Demographics show that we are entering a battle between young and old. I call it the ‘Age War.’ The young want to hang onto their money to grow their families, businesses, and wealth. The old want the tax and investment dollars of the young to sustain their old age.
As capitalism falters, the rich move their money out of the country, violence increases, and politicians promising prosperity are elected.
People invest in businesses that they believe have the leadership, mission and team to grow and operate profitably.
My family wasn’t rich, so when it comes to money, I tend to think, ‘Err on the side of caution.’
I resigned from the Marine Corps and flying in 1974, even though I loved them both. I quit because I no longer wanted to fight for peace. Instead, I believe we can build a more sustainable peace by working for prosperity.
If you’re working for a good company and you’re happy there, and you’re being compensated accordingly, and your work satisfies you, you should stay there.
When you combine boring with fear, you have fun.
Tax season always means a deluge of tax advice. Unfortunately, most of it is futile and lightweight.
You have to be smart. The easy days are over.
Most people are happy being average. Most are happy being faceless in a sea of faces.
Ken Lay, the disgraced former chairman of Enron, found a way to escape his legal problems: He died after being convicted of fraud and conspiracy charges.
The trained mind is a rich mind.
Silver is used in the electronics industry and is consumed daily; stock piles of silver are dwindling.
If you’re going to be a winner in life, you have to constantly go beyond your best.
The best way to predict the future is to study the past, or prognosticate.
Prophets of doom have always taken risks in terms of ridicule and humiliation. If you stand on a street corner holding up a sign that reads ‘The End Is Near,’ passersby will laugh and heckle. People will say you’re like Chicken Little, running around telling people the sky is falling.
