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
Investing isn’t risky; not being in control is risky.
Interpretation
Investing is not inherently dangerous; rather, a lack of control over one's investments is what poses a risk.
Robert Kiyosaki's quote emphasizes the importance of taking control of one's financial decisions through investing. It suggests that while investing may seem risky, the real danger lies in avoiding investment altogether and relinquishing control over one's financial future, thereby exposing oneself to greater uncertainties.
In practice
In a financial seminar discussing personal investment strategies.
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.
A single agency responsible for systemic risk would be accountable in a way that no regulator was in the run-up to the 2008 crisis. With access to all necessary information to monitor the markets, this regulator would have a better chance of identifying and limiting the impact of future speculative bubbles.
Compound interest is the eighth wonder of the world. He who understands it, earns it ... he who doesn't ... pays it.
Finance is not merely about making money. It's about achieving our deep goals and protecting the fruits of our labor. It's about stewardship and, therefore, about achieving the good society.
A fiduciary standard means, basically, put the interests of the client first. No excuses. Period.
There is a burden of care in getting riches; fear in keeping them; temptation in using them; guilt in abusing them; sorrow in losing them; and a burden of account at last to be given concerning them.
How did you go bankrupt?" Two ways. Gradually, then suddenly.
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