We've drifted away from being fishers of men to being keepers of the aquarium.
Paul HarveyRead
When your outgo exceeds your income, the upshot may be your downfall.
Interpretation
Spending more money than you earn can lead to financial ruin.
This quote by Paul Harvey highlights the importance of managing one's finances effectively. When expenses surpass income, it can create a cycle of debt and eventual financial instability, serving as a warning against reckless spending and underscoring the need for fiscal responsibility.
In practice
In a financial literacy workshop, the instructor quoted Paul Harvey to emphasize the importance of budgeting.
We've drifted away from being fishers of men to being keepers of the aquarium.
One vote. That's a big weapon you have there, Mister. In 1948, just one additional vote in each precinct would have elected Dewey. In 1960, one vote in each precinct in Illinois would have elected Nixon. One vote.
In times like these, it helps to recall that there have always been times like these.
I've never seen a monument erected to a pessimist.
Oh, things always get better. Tomorrow will always be better. Just think about it . . . is there any time in history in which you'd rather live than now?
We were poor, but we didn't know it. There were no government bureaus in those days presuming to determine where poorness begins and ends, but I don't remember ever being hungry.
All the time and effort people devote to picking the right fund, the hot hand, the great manager have, in most cases, led to no advantage.
While the move to central clearing has made the system safer, we need to make sure that the central counterparties have the resources and risk-management practices to withstand plausible but severe shocks.
Bad debt is sacrificing your future day needs for your present day desires.
Don't invest in what you don't know. Learn first then invest.
Liquidity is a good proxy for relative net worth. You can't lie about cash, stocks, and bond values.
If the fluctuations in your investment portfolio are reduced, the impact of emotions and behavior on your account is also reduced.
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