A Quote by Thomas J. Stanley
Multiply your age times your realized pretax annual household income from all sources except inheritances. Divide by ten. This, less any inherited wealth, is what your net worth should be.
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Focus on all four of your net worth factors: increasing your income, increasing your savings, increasing your investment returns, and decreasing your cost of living by simplifying your lifestyle.
I guess there are different ways to handle success. You can multiply it financially and use it to multiply your net worth. That's always been very appealing to me.
Your profits are going to be cut down to a reasonably low level by taxation. Your income will be subject to higher taxes. Indeed in these days, when every available dollar should go to the war effort, I do not think that any American citizen should have a net income in excess of $25,000 per year after payment of taxes.
One of the dangers about net-net investing is that if you buy a net-net that begins to lose money your net-net goes down and your capacity to be able to make a profit becomes less secure. So the trick is not necessarily to predict what the earnings are going to be but to have a clear conviction that the company isn't going bust and that your margin of safety will remain intact over time.
Your net worth can fluctuate, but your self-worth should only appreciate.
The collective income of all these people - the bottom half - is less than three percent of global household income, and so there is a grotesque maldistribution of income and wealth.
Your net worth is not the same thing as your self-worth. Your value is not based on your valuables.
With each investment you make, you should have the courage and the conviction to place at least ten per cent of your net worth in that stock
The single observation I would offer for your consideration is that some things are beyond your control. You can lose your health to illness or accident. You can lose your wealth to all manner of unpredictable sources. What are not easily stolen from you without your cooperation are your principles and your values. They are your most important possessions and, if carefully selected and nurtured, will well serve you and your fellow man.
I am a financial planner, not a psychiatrist, but I do know that your net worth will rise to meet your self-worth only if your self-worth rises to accept what can be yours.
Here's an equation I want you to remember for the rest of your life: CZ = WZ. It means your "comfort zone" equals your "wealth zone." By expanding your comfort zone, you will expand the size of your income and wealth zone.
Multiply your death, divide by sex, add up your violence, what do you get?
I am struck by how, except when you're young, you really need to prioritize in life, figuring out in what order you should divide up your time and energy. If you don't get that sort of system set by a certain age, you'll lack focus and your life will be out of balance.
If you're a wealthy heir with a trust fund, and you sell stocks, make your 10% gains since Donald Trump, and then you buy other stocks, you can avoid paying taxes. And if your accountant registers your wealth offshore in a Panamanian fund, like Russian kleptocrats do - and as more and more Americans do - you don't have to pay any tax at all, because it's not American income, it's foreign income in an enclave without an income tax.
If you depend on your company to take care of your retirement, your future income will be divided by five. Take care of it yourself, and you can multiply your future income by five.
I can make a firm pledge, under my plan, no family making less than $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes.
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