Sometimes my mistake has been hesitancy about acting on the decisions I've made. When's the best time to invest? It's today, not tomorrow.
Charles SchwabRead
When I was 14, I did all kinds of different odd jobs. I had a chicken farm, had an ice cream operation in the summertime, worked as a caddy; all things to make money and save money. Save money in order to invest - that was the first step, though I never really accumulated very much because of other demands like bicycles and things like that.
Interpretation
Engaging in various jobs at a young age teaches the importance of saving and investing money.
This quote illustrates Charles Schwab's early experiences with work and money management. By taking on different odd jobs, he learned about the value of earning money and the discipline required to save and invest, despite facing challenges from personal spending. It emphasizes the significance of starting young in the realm of financial responsibility and investment, laying the groundwork for future success.
In practice
During a financial literacy workshop, I shared this quote to emphasize the value of starting to save money early.
If you want to win, do the ordinary things better than anyone else does them day in and day out.
Well, the only way I can get a leading-man role is if I write it.
I didn't realize that winning the Olympics at age 14 automatically put me in the category of being a celebrity.
After hard work, the biggest determinant is being in the right place at the right time.
He really meant to tell them that the big money was not in the individual fluctuations but in the main movements that is, not in reading the tape but in sizing up the entire market and its trend.
I like guys who know how to implement a strategy. The ones who make a fight look easy. But there's no easy fight, even if you win in 30 seconds, that only means you were able to execute your strategy correctly and induced your opponent to make a mistake. Those are the champions. That's why they are the champions.
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