Learn more about moneyandinvestments with this collection
How to develop a healthy relationship with money
How to create a budget
The impact of emotions on financial decisions
I did not intend to get rich. I just wanted to get independent.
CHARLIE MUNGER
22
245 reads
MORE IDEAS ON THIS
The financial spectrum: Level 7 - 11
- Level 7: Retirement savings, education savings, and avoidance of consumer and auto debt. You can see a time when your current savings will give you independence.
- Level 8: The ability to pick a job or specific customers and say no to unnecessary hassl...
23
168 reads
The financial spectrum: Level 0 - 6
- Level 0: Complete financial dependence on the kindness of strangers who have no vested interest in your success.
- Level 1: Complete financial dependence on people who want you to succeed.
- Level 2: Complete financial dependence...
23
185 reads
The financial spectrum: Level 12 - 16
- Level 12: Interest and dividends cover more than half of your living expenses because of a slim lifestyle rather than huge assets.
- Level 13: Your assets and reasonable return expectations will cover basic living expenses for longer than your life exp...
23
150 reads
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Highlights
My highly educated dad recommended that I do what he did. "Son, I want you to study hard, get good grades, so you can find a safe, secure job with a big company. And make sure it has excellent benefits." My rich dad wanted me to learn how money works so I could make it work for me.
Page:39
Ray Dalio’s 5 Guiding Principles
- Working for what he wanted, not for what others wanted him to do
- Coming up with the best independent opinions he could conceive
- Stress-testing his opinions by having the smartest people finding the flaws in his thinking
The Gullible Teachers
Beware of financial gurus who teach how to get rich but did not use the same strategy to get rich themselves.
Very often those financial gurus get rich only because they teach how to get rich. Also, many people don’t really understand the mechanics of getting rich, yet the...
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