Quotes About Wealth

As I said, the passage of taxes was only possible because the masses believed in the Robin Hood theory of economics: Take from the rich, and give to everyone else. The problem was that the government's appetite for money was so great that taxes soon needed to be levied on the middle class, and from there it kept trickling down.

simply keep deferring their real estate capital gains and then, at the end of their lives, roll that real estate into something like a charitable remainder trust.

If the ship was lost, the crew lost their lives, but the loss to the rich would be limited only to the money they invested for that particular voyage.

It is due to these legal loopholes that so many rich people donate their mansions or other parts of their estate at the end of their lives.

assets put money in your pocket.

The tax man will always take more if you let him. The first lesson of having money work for you, as opposed to you working for money, is all about power. If you work for money, you give the power to your employer. If money works for you, you keep the power and control it.

Their families have often become very wealthy through the deferral of the taxes on these assets they donate, and do not need the asset that made them rich anymore.

One of the reasons the rich get richer, the poor get poorer, and the middle class struggles in debt is that the subject of money is taught at home, not in school.

Always remember: Profits are made in the buying, not in the selling.

For example, one dad would say, "The love of money is the root of all evil." The other said, "The lack of money is the root of all evil.

They have made enough money to acquire other assets. Again, it does pay to be generous.

Cash flow tells the story of how a person handles money.

My personal basis is real estate. I love real estate because it's stable and slow-moving. I keep the base solid. The cash flow is fairly steady and, if properly managed, has a good chance of increasing in value. The beauty of a solid base of real estate is that it allows me to take greater risks, as I do with speculative stocks.

you want to be rich, you need to think independently rather than go along with the crowd.

Éste es el mayor problema de tener un empleo, que no es un activo. No lo puedes vender en eBay, no lo puedes rentar ni recibir dividendos por él. Entonces, ¿para qué pasar décadas, los mejores años de tu vida, trabajando para construir algo que no es un activo? O, para describirlo con mayor precisión, ¿para construir el activo de alguien más y no el tuyo?

The problem with "secure" investments is that they are often sanitized, that is, made so safe that the gains are less.

Of all the steps, self-discipline may be the most difficult to master if it's not part of your makeup. But personal self-discipline is the No. 1 delineating factor between the rich, the poor, and the middle class.

I can't afford it," your brain stops working. By asking the question "How can I afford it?" your brain is put to work.

So for most people, the reason they don't win financially is because the fear of losing money is far greater than the joy of being rich.

the socialists ultimately penalized themselves due to their lack of financial education.

No matter what the "take-from-the-rich" crowd came up with, the rich always found a way to outsmart them.

8.?Use assets to buy luxuries: the power of focus

Profits are made in the buying, not in the selling.

A business owner can pay for those things with before-tax dollars while an employee pays for them with after-tax dollars.