Starting a business is like jumping out of an airplane without a parachute. In mid air, the entrepreneur begins building a parachute and hopes it opens before hitting the ground.
Robert KiyosakiRead
Your most expensive advice is the free advice you receive from your financially struggling friends and relatives.
Interpretation
Be cautious of free financial advice from those who are not financially successful themselves.
This quote emphasizes the importance of seeking financial advice from knowledgeable and successful individuals rather than relying on the opinions of those who struggle financially. It suggests that misguided advice can lead to poor decisions that may cost you more in the long run, making it essential to prioritize the source of advice when it comes to financial matters.
In practice
In a personal finance seminar to illustrate the importance of credible advice.
Starting a business is like jumping out of an airplane without a parachute. In mid air, the entrepreneur begins building a parachute and hopes it opens before hitting the ground.
If you realize that you're the problem, then you can change yourself, learn something and grow wiser. Don't blame other people for your problems.
In the real world, the smartest people are people who make mistakes and learn. In school, the smartest people don't make mistakes.
If you want a solid future, you need to create it. You can take charge of your future only when you take control of your income source. You need your own business.
Finding good partners is the key to success in anything: in business, in marriage and, especially, in investing.
It's easier to stand on the sidelines, criticize, and say why you shouldn't do something. The sidelines are crowded. Get in the game.
Saving is a fine thing. Especially when your parents have done it for you.
If you make time each month to give your money some attention, you'll start the next year in fabulous financial shape.
Nobody can predict interest rates, the future direction of the economy or the stock market. Dismiss all such forecasts and concentrate on what's actually happening to the companies in which you've invested
While enthusiasm may be necessary for great accomplishments elsewhere, on Wall Street it almost invariably leads to disaster
The stock market is a wonderfully efficient mechanism for transferring wealth from the impatient to the patient.
The thing I have discovered about working with personal finance is that the good news is that it is not rocket science. Personal finance is about 80 percent behavior. It is only about 20 percent head knowledge.
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