A Quote by Grant Cardone
Rich people use debt to leverage investments and grow cash flows. Poor people use debt to buy things that make rich people richer.
Related Quotes
Avoid debt that doesn’t pay you. Make it a rule that you never use debt that won’t make you money. I borrowed money for a car only because I knew it could increase my income. Rich people use debt to leverage investments and grow cash flows. Poor people use debt to buy things that make rich people richer.
We've turned the post-war economy that made America prosperous and rich inside out. Somehow most people believed they could get rich by going into debt to borrow assets that were going to rise in price. But you can't get rich, ultimately, by going into debt. In the end the creditors always win.
I do not like debt and do not like to invest in companies that have too much debt, particularly long-term debt. With long-term debt, increases in interest rates can drastically affect company profits and make future cash flows less predictable.
People who are rich want to be richer, but what's the difference? The toys get different, that's all. The rich guys buy a football team, the poor guys buy a football. It's all relative.
What I think is bugging this guy [Steven Lerner] is the belief that debt - forced debt upon middle-class people, students (i.e., student loans and so forth) - has made Wall Street bankers and financial people excessively, unfairly, out-of-proportionally rich.
I use a "Debt Dash" approach to paying off debt. I recommend people focus on paying off the debt with the lowest balance first. So if the primary has less debt you would focus on that.
Growing richer every day, for as rich and poor are relative terms, when the rich are growing poor, it is pretty much the same as if the poor were growing rich. Nobody is poor when the distinction between rich and poor is destroyed.
Once again, the 90/10 rule of money applies - 10% of the borrowers in the world use debt to get richer - 90% use debt to get poorer.
Have a great compassion for people. To be able to have a heart full of compassion, we need to pray. Especially be kind, be loving to the poor. We think we do so much for the poor, but it is they who make us rich. We are in debt to them. Do you want to do something beautiful for God? There is a person who needs you. This is your chance.
Free enterprise is the best economic system in the history of the world, because it is the only system where you can make poor people richer and you don't have to make rich people poor.
Make the people sovereign and the poor will use the machinery of government to dispossess the rich.
One of the reasons the rich get richer, the poor get poorer and the middle class struggles in debt is because the subject of money is taught at home, not at school.
Immigrants use debt intelligently. They understand the difference between active debt: creating a business, or something to make business better, and dead debt: buying that new sports car or the 60 inch television. Those things don't lead to the good life. They delay getting it.
People tend to think that paying a debt is like going out and buying a car, buying more food or buying more clothes. But it really isn't. When you pay a debt to the bank, the banks use this money to lend out to somebody else or to yourself. The interest charges to carry this debt go up and up as debt grows.
This is a guy [Steven Lerner] who believes, for example, that Reaganomics or trickle-down economics means, "The rich got rich by stealing from the poor," or stealing from the middle class and making them poor via debt. He has worked with unions in Europe.
Welfare mostly subsidizes people in poverty, helping few escape from it. In their hearts, most people who are poor would like to be rich, or at least self-sustaining, but this president never talks about how they might achieve that goal. Instead, he criticizes those who made the right choices and now enjoy the fruits of their labor. Rather than use successful people as examples for the poor to follow, the president seeks to punish the rich with higher taxes and more regulations on their businesses.
Related Authors
Candace Gingrich-Jones Quotes
American
Speaker
Dave Ramsey Quotes
American
Speaker
Deepak Chopra Quotes
American
Speaker
Eckhart Tolle Quotes
German
Speaker
James Arthur Ray Quotes
American
Speaker
Jordan Belfort Quotes
American
Speaker
Judson Laipply Quotes
American
Speaker
Les Brown Quotes
American
Speaker
Marshall Sylver Quotes
American
Speaker
Matthew Kelly Quotes
English
Speaker
Sam Cawthorn Quotes
Australian
Speaker
Steve Rizzo Quotes
American
Speaker
Tony Robbins Quotes
American
Speaker