William D. Danko Sözleri ve Alıntıları
William D. Danko sözleri ve alıntılarını, William D. Danko kitap alıntılarını, William D. Danko en etkileyici cümleleri ve paragragları 1000Kitap'ta bulabilirsiniz.
Begin earning and investing early in your adult life.
It's much easier in America to earn a lot than it is to accumulate wealth.
Remember, wealth is blind. It cares not if its patrons are well educated.
What if your goal is to become financially independent?
Your plan should be to sacrifice high consumption today for financial independence tomorrow.
Why would someone who is a millionaire need to budget?
They became millionaires by budgeting and controlling expenses, and they maintain their affluent status the same way.
What does he find? That people accumulate significant wealth by minimizing their realized/taxable income and maximizing their unrealized/nontaxable income.
Most successful people who are self-employed work ten to fourteen hours per day. In fact, this is why many employees shy away from even considering "going out on their own." They want something less demanding. They want to be employees.
Look at this case study. Here's a woman, Lucy L., who had $7 million just a year before she died. She lived on her pension money. Never in her life sold a share of stock out of her portfolio. Her wealth doubled in just the six years between her seventieth and seventy-sixth birthdays. But what did we get out of it? In terms of income tax, nearly zip. She essentially had no realized income from her portfolio. I hate unrealized income.
What is risk? Having one source of income. Employees are at risk. They have a single source of income. What about the entrepreneur who sells janitorial services to your employers? He has hundreds and hundreds of customers, hundreds and hundreds of sources of income.
Money should not be wasted, no matter how much I earn.
Don't chase money. If you are the best in your field, money will find you.
Whatever your income, always live below your means.
I have always been goal-oriented. I have a clearly defined set of daily goals, weekly goals, monthly goals, annual goals, and lifetime goals. I even have goals to go to the bathroom. I always tell our young executives that they must have goals.
What, then, is our message? If you cannot increase your compensation significantly, become wealthy some other way. Do it defensively.
The majority of people do not have the ability to increase their incomes significantly. Yet income is a positive correlate of wealth.