When I started out in the world of investing, I made sure that I take in as much knowledge as I can from different reliable sources. I read books, scoured the internet for content that will help me understand the ins and outs of the market, attended conferences, and many more.
As I do my ‘homework’, I also started to have lodis (“lodi” is the Filipino slang term for a person you idolize) and became inspired by how they achieve their success. So if you’re aspiring to become successful in investing someday, I want to share with you some of the most helpful words of wisdom from professional investors that I’ve read.
Let’s hear it from the legendary investors—here are seven timeless quotes for success that are worth to read.
1. “An investment in knowledge pays the best interest.” – Benjamin Franklin
You’ve probably heard the saying: “Knowledge is power.”—this is true, even in investing. Nothing will pay off more than making informed decisions. By educating yourself, learning how to analyze the markets, and keeping yourself updated on market news and information, you will surely be able to make wiser investment decisions.
2. “I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful.” – Warren Buffett
Learning when to go against the trend is just as important as knowing when to jump on it. Always remember that it is important to have a certain degree of independence when it comes to your investment decisions, and not just join the bandwagon at all times. Be ready to invest in a down market (that is destined to go up) and jump off a rising market (that is going to burst anytime soon).
3. “In investing, what is comfortable is rarely profitable.” – Robert Arnott
No single person on earth became successful without taking a risk. If you want to achieve significant gains, you should not be afraid of stepping out of your comfort zone. However, before you do, you should also make sure that you are well-equipped with market knowledge and risk management strategies.
4. “Invest in yourself. Your career is the engine of your wealth.” – Paul Clitheroe
Everyone wants to be rich and successful, but the question is: How do you achieve it? If you want success, you must possess exceptional skills, knowledge, and talents. You can invest in your self-improvement through self-studying, sending yourself back to school or learning from experts, getting a quality job that will help you acquire the necessary skill set, or by learning from your own experience.
5. “Financial peace isn’t the acquisition of stuff. It’s learning to live on less than you make, so you can give money back and have money to invest. You can’t win until you do this.” – Dave Ramsey
The message here is pretty simple: you need to learn the art of modest spending and living a frugal life. Instead of splurging on stuff you don’t actually need, why not invest to prepare for your retirement or give back to the community?
6. “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 for.” – Robert Kiyosaki
These words of wisdom from Kiyosaki are somehow related to the one above. This quote is about being wise in your spending and growing your investment portfolio to the point that even the next generations in your family will be able to reap and enjoy its fruits.
7. “How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case.” – Robert G. Allen
Sure, investing your money in a savings account is good because you can use it in case of emergencies. However, you should also be aware that this will only earn you minimal gains because of the low interest rates. So instead of just letting your money sleep in the bank, why not invest in the stock market and earn significant returns?
When it comes to investing in the financial markets, many people easily become overwhelmed and even terrified. However, if you actually know what you’re doing, you will find yourself more confident in your investment decisions and the markets become less scary or intimidating.
Also, speaking from experience, it actually helps to have someone (or people) you look up to. By reading about them, you will learn a thing or two from their strategies and insights and apply those in your real-life decisions. Anyway, what better way to become good in investing than to take some pieces of advice from the experts who have made their way to the top?