10 Quotes By The Most Successful People in History (You Need This)
8 is my favourite, #1 is the most important and #10 will make you think.
We love quotes because they often include years of wisdom and experience, shortened to 2 lines.
You’ve probably seen/heard 100’s of quotes throughout your lifetime – some useful, and others useless.
I’ve compiled 10 of these from some of the greatest minds throughout human history – that stand the test of time.
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I’m confident at least 5 of these will shift your perspective of the world and the way you think about life and money in general.
1: The Best Investment You Can Make
“An investment in knowledge pays the best interest” – Benjamin Franklin
Financial investments are nice – we all love to see returns on our money whether this be 10% or 100%.
Whatever it may be, the return will never be higher than if we invested in our personal knowledge.
Why? Because knowledge gives us the ability to earn more money, meet new people and become interesting individuals.
“Knowledge is power”.
I’m certain you have heard this before – and it’s true.
What you know and who you know is a potent combination that can make you wildly successful.
So how is knowledge gained?
Speaking to others
Your life experiences
These are the most effective forms of gaining knowledge that I have experienced and I recommend that if you haven’t done so already, you get to work.
The return is infinite.
2: Do The Opposite of Others
“I will tell you the secret to getting rich on Wall Street. You try to be greedy when others are fearful. And you try to be fearful when others are greedy.” – Warren Buffett
The number one reason investments fail for the average person is because they panic when the market crashes.
This is why you hear the common fallacies:
“Investing is a scam!”
“I knew it wouldn’t work!”
The people who say this have no patience and discipline to adopt a long-term mindset.
Warren Buffett is one of the richest people in the world.
He knows that the wealthiest people in the world (including himself) never panic.
An example of being this panic was during the peak of the COVID-19 pandemic.
The Stock Market crashed.
Bitcoin fell below $5000.
This is the fearful stage – when the average, everyday investor panics because they think it’s the end of the world.
What’s the counter to this? Warren Buffett already told you.
It’s to be greedy.
With chaos comes opportunity, and this is where smart investors (hopefully) buy their assets.
If you bought Bitcoin during this ‘fear’ stage, you would have 10x’d your investment in just one year ($BTC had hit $55k+)
And the stock market? Hit all-time highs.
If you adopt a long term approach, success is inevitable.
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3: Saving To Riches? No.
“How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case.” – Robert G. Allen
When you put yourself in comfortable situations, you will never grow.
When you put your money into comfortable situations, it’s the same thing.
Exposure to risk is the only way to grow, and this is by investing your money.
Savings Account Rates: 0.1% (if you’re lucky)
S&P 500 Historical Returns: 7–10%
When you put your money in the bank, guess what they do with it?
They invest your money.
And pay you pennies.
The only reason you should have your money in a savings account is for an emergency fund – so you can quickly access it.
Other than that, you need to invest whatever you can.
Because if you don’t, you’re burning your hard-earned money because of inflation (which is more than the government tells you).
4: Master Your Money
Money is a terrible master but an excellent servant.” – P.T. Barnum
Most of the population will work 40+ hours for 40+ years to earn money.
We have to do it, it’s what pays the cost of living.
What we don’t realise is that our lives are spent pursuing pieces of paper that society deems to have value.
So we enter the rat race, waiting in traffic, listening to a boss, doing mundane tasks.
Over and over again… until it’s time to retire.
At 65. With no energy.
But, we can change that.
We can’t work 24/7, but you know what can?
The only way we make the switch from servants to masters is to make our money go to work for us, instead of us working for it.
Become a Money Master.
5: TV? No. Books.
“Rich people have small TVs and big libraries, and poor people have small libraries and big TVs.“- Zig Ziglar
Your choices determine your reality, you know this.
Rich people opt for big libraries (books) over TV because it’s a question of entertainment vs education.
Learning will always bring you a greater return on investment in comparison to watching TV for 4–5 hours a day.
The great benefit of the generation we live in today is that we have access to abundant amounts of information at our fingertips.
More specifically – our phones.
The small thing that fits in your hand right now is your personal library.
Use this powerful device to gain access to information that makes you smarter, wealthier, or healthier.
If it doesn’t do any of the above, you don’t need it in your life.
If you have Twitter, only follow those who provide you with good information.
Don’t waste time scrolling mindlessly, and limit your TV consumption.
If you do this for 6 months, I promise you will be much happier.
6: Money Doesn’t Matter
It’s not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it.” – Robert Kiyosaki
Do you like NBA? Boxing? NFL?
I’m sure you do.
How many times have you heard of athletes going broke?
How can it be that someone who earns $100s of millions throughout their lifetime ends up filing for bankruptcy?
It’s because of a lack of financial education and the willingness to learn about money management – which is a skill in itself.
The most famous example I can think of is Mike Tyson (I used him because he’s my favourite boxer) making over $600m in his lifetime and going broke.
But that’s just one example.
Statistics show that roughly 78% of NFL players go broke within 5 years of retirement.
Remember this: It’s not what you earn, it’s what you keep.
7: It’s Not Yours!
“Never spend your money before you have earned it.” – Thomas Jefferson
This is what bad debt is – borrowing money you don’t have, and paying back more than you borrow.
Did you know that the average American has around $6,000 in credit card debt?
And during the pandemic when people had nothing to do, 42% of Americans took out credit card debt to buy stuff they probably didn’t need.
This is spending money before you have it.
Now don’t get me wrong, there are people out there who use their credit cards with great effect and pay off their balance immediately.
But this isn’t many people.
If money isn’t in your bank account, you can’t afford it.
If you get to pay for it in instalments, that doesn’t mean you can afford it.
If you cant buy it 3 times in cash, don’t buy it (there are exceptions to the rule of course).
8: Use Your Gift
“Earn with your mind, not your time.” – Naval
Who doesn’t love Naval? Such a brilliant mind.
You read this quote and you think it’s simple, but when you look at the idea behind it.
The only way to become wealthy (not salary rich) is to disassociate time from money.
What this means is to invest in assets that pay you, with you not needing to be there.
When you go to your 9–5 job, you need to be there.
This article/blog post that you’re reading right now.
It takes effort and time to write this, that’s obvious. The only difference is that this will continue to pay me forever in the future as I gain more traction and views — and I don’t need to be on this article every day for it to do so.
Earning money with your time is repeating the same tasks for an hourly wage – this will never make you wealthy.
Earning money with your mind is an entirely different ball game.
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9: Know Your Why
“Like Warren, I had a considerable passion to get rich, not because I wanted Ferraris – I wanted the independence. I desperately wanted it.” – Charlie Munger
Warren” refers to the guy in #2 in this article.
But this quote begs the question:
Why do you want to be rich?
Take a minute.
Think about it.
Write it down.
Got it? Okay, that’s your purpose.
On any journey to wealth, you will suffer obstacles, setbacks and stress. Knowing the end goal will keep you from stopping.
My reason for building wealth is so that I have complete control of my time, I don’t answer to anyone and I spend time on my hobbies which includes Martial Arts.
Your reason could be that you want to be a philanthropist and give back to the world.
Attach your effort to a meaningful goal and not an object, as objects do not last.
10: It’s Not The Money, It’s The Man
“No wealth can ever make a bad man at peace with himself.” – Plato
What happens when an evil person gets the money? Their evil actions are scaled to a larger level.
What happens when a good person gets the money? Their good actions are scaled to a larger level.
If you’re naturally a good person (hopefully) your money will magnify your actions.
Donating $100k instead of $100
Helping 10,000 people instead of 1 person
Leaving a legacy to your family to enjoy forever.
So, before you pursue wealth, make sure you’re a worthy candidate for it.
Thank You for Reading.
CONTRIBUTED BY Long Term Wealth
Read More: Charlie Munger Advices: How to Succeed