Let me introduce two of my favourite books - The Millionaire Next Door and Stop Acting Rich, both written by the late Dr. Thomas J. Stanley. The main theme of the books is that you can’t judge a book by its cover when it comes to personal wealth. The author has spent many years researching the typical life of a millionaire, which goes against many misconceptions that people still have today. In Stop Acting Rich, Thomas defines a group of people he calls "aspirationals" as people who choose to act rich, but don’t have the financial resources to back it up. They are typically high income earners but aren’t wealthy, and are low net worth individuals with little savings. Aspirationals often spend exorbitantly beyond their means (think luxury homes, country clubs, BMWs, Rolex watches, and the like) just to appear rich, leaving them vulnerable to losing everything should their financial positions turned for the worse.
Whenever I hear Warren Buffett speaks or read his annual letters to the shareholders at Berkshire Hathaway, there are always words of wisdom to be found. After all, he is the Oracle of Omaha, one of the most successful businessmen of the 20th century, and consistently rated as one of the wealthiest people in the world.
Warren Buffett has continually shared bits and pieces of his investment philosophy through a lifetime of memorable quotes where he uses simple, jargon-free language when referring to business and investments. There's much to learn from the quotes and quips by the legendary billionaire investor, which have exerted great influence over my own investment strategies as well. In this blog post, I have compiled 20 of the best insightful quotes from Warren Buffett.
People are getting more health-conscious nowadays. Their growing expenditures on gym memberships, fitness equipment, health supplements, organic foods, etc. are testament to this fact. Surely, it’s not difficult for you to find health-conscious colleagues and friends around you. While people are concerned about their physical health, they don’t really pay much attention to their financial health. Most people don’t have the habit of conducting regular financial health checks for themselves. They simply don't care, or don’t really know how to and where to start.