Image courtesy of Free Digital Photos
Welcome to the second installment of our two-part blog series on some exceptionally insightful quotes from the richest man in the world, with commentary from Del Mar LPL financial advisor, John Lohrenz.
Let’s continue with five more quotes…
“There is nothing that was overnight.”
Forget all the get-rich-quick schemes and phony investing advice you hear and focus on hard work and long haul investing instead.
“Wealth is never created overnight and the sales people who try to convince you otherwise are not being realistic. If their advice really worked, would they still be trying to sell get-rich-quick schemes? No, they’d probably have moved on to bigger and better things. If it sounds too good to be true, it’s probably because it is.”
“Technology is just a tool. In terms of getting the kids working together and motivating them, the teacher is the most important.”
Educate yourself on financial basics and you’ll be better off than someone with top-of-the-line technology. No technology can replace a good financial education and a qualified LPL financial advisor.
“In this business, by the time you realize you’re in trouble, it’s too late to save yourself. Unless you’re running scared all the time, you’re gone.”
The market moves fast and it’s nearly impossible to time it. Choosing an asset allocation appropriate for your risk tolerance is a better way to approach investing.
“It’s always good practice to work with someone who has the expertise, time and resources to keep a finger on the pulse of the markets and your investments. Not even the most skilled of LPL financial advisors can ever predict with 100% certainty what will happen, but we are ever watchful for and respectful of the warning signs we see, which is what keeps our client’s principles guarded,” says Del Mar LPL financial advisor, John Lohrenz.
“The general idea of the rich helping the poor, I think, is important.”
Philanthropy is an important part of every financial plan, and you don’t have to be rich to support a cause you believe in.
“Charity is beneficial to more than just the receiver. Speak to your LPL financial advisor about how giving to those in need could benefit your financial picture,” says John Lohrenz.
“If I’d had some set idea of a finish line, don’t you think I would have crossed it years ago?”
Never put a limit on your financial success. If you’ve reached your monthly savings goal with money left over, save more or use the additional funds to further your education or invest in yourself and your business.
If you have any questions at all or would like individualized investment advice from our Del Mar financial advisor, please contact John Lohrenz at:
Phone: (858) 535-1705
Fax: (858) 535-1701
Alternatively, fill out the Contact Form and we’ll get back to you shortly.
731 S. Hwy 101, Suite 2K, Solana Beach CA 92075