3,733 Quotes About Advice

I believe there are only three businesses: my business, other people's business, and God's business.

We are neither robotically systematic nor wholly idiotic when making investment decisions. To be sure, we do our best to remain objective and make good decisions, but we are strongly influenced by our cognitive limitations and the cloudy lens through which we see the world. But behavioral approaches, which showcased the limitations of our mental computers, simultaneously gave us the notion that what we consumed mattered greatly.

If irrational exuberance can bring about financial calamity, then it stands to reason that rational adherence to a set of rules can save our financial lives. It’s not a complex idea, but it’s one that can have profound implications for the personal and financial wellbeing of our families and even our nations. And it all begins with a focus on-you guessed it-ourselves.

Pop quiz: What is the best predictor of the size of a retirement nest egg? What’s that you say, performance? Wrong! I’m sorry but the correct answer was “deferral rate,” but thanks for playing. The way that goals-based investing increases deferral rates (and thus, wallet share) is by couching investment in terms of personal meaning… Rather than speaking in sterile terms that rob wealth of its holistic meaning, use your goals as the benchmark and see how much easier saving becomes.

I've never had a moment when I thought: "Tom, you've made it!", and I don't think I want to, because that feels like you've reached the end; that you've crossed the finish line. But to me there is no end. An achievement is not a finish line; it's a checkpoint on a far greater journey. It's a moment to pause, to take a breath and look back and enjoy what you've experienced and be grateful for it, but then to turn around and look towards the next checkpoint, the next achievement.

There are at least three significant reasons we resist contemplating our personal financial goals: it can be stress-inducing, we dislike numbers, it is socially taboo, and we are slaves to “right now.

Despite [the “talking heads” we revere] inability to outperform a dartboard, we continue to look to them and pay them exorbitant salaries. Why? Because they are bold. Surety is baseball, red meat, and the pioneer spirit. Doubt seems wimpy and “Continental.

With positive attitude, you can graciously overcome every adversity.

As you grow up, always tell the truth, do no harm to others, and don't think you are the most important being on earth. Rich or poor, you then can look anyone in the eye and say, 'I'm probably no better than you, but I'm certainly your equal.