Sometimes in financial strategy, the best tactic is to call on the advice of those who have come before us. You’ll find that more often than not, the best advice is timeless, and considering it can bring you back to basics – grounding your mind in what your true financial goals are. We asked our team at Adroit Financial Group for some of their top finance quotes. Consider these the next time you need some extra financial guidance.
Ash Dowie – General Manager
“Compound interest is the eighth wonder of the world. He who understands it, earns it…he who doesn’t, pays it.” – Albert Einstein
Most people relate compound interest to debt, however, it is as beneficial to those who are willing to save and make money, as it is detrimental to those borrowing it. Basically, compound interest is the act of having money invested and allowing it to accumulate over that period at a rate of interest/return, then allowing that increased amount to make more money. The lesson…use the power of time, start early and let the money work for you while you sleep.
Samantha Clarkson – Financial Planner
“We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful” – Warren Buffett
This quote is in relation to contrarian investing. This means we should aim to ignore the emotional factors at play, and go against the masses: buy when the market is low and stocks are underpriced (when others are fearful, and selling), and sell when the market is high and stocks are over-priced (when others are greedy, and buying).
Bart Healy – Financial Planner
“By failing to prepare, you are preparing to fail.” – Benjamin Franklin
Although not a financial quote, it’s definitely applicable. I like this quote as it’s how I approach my work; I’m one of those people who writes a list each morning with what I need to do for the day and then plans accordingly. It’s the same for personal insurance – with some foresight and good advice; you can start planning for the unexpected.
Annette Ros – Financial Planning Assistant
“Planning is bringing the future into the present so that you can do something about it now.” – Alan Lakein
We all have goals in life that we want to achieve, whether it’s achieving the great Australian dream, developing your own business or raising a family.
All goals are different, but one thing they have in common is that there is always a plan outlining the steps required to reach that goal. Putting together a plan now, can provide comfort and peace of mind – if something happens, you are prepared and what you have worked hard to accomplish is protected.
Lisa Tran – Financial Planning Assistant
“Think ahead. Don’t let day-to-day operations drive out planning” – Donald Rumsfeld
It is important to make time during your busy day to prepare for the future. Having a financial strategy in place is important for creating wealth and protecting what you already have, as success will not come to people who do not take action.
Matt Hills – Financial Planner
“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
My view on the above quote is to spread your risk! Don’t have all your eggs in one basket. This will help maintain and grow wealth.
Sean Myles – Practice Manager
“Someone’s sitting in the shade today, because someone planted a tree many years ago” – Warren Buffett
With any financial strategy, it is important to realise that it will take time to achieve your financial goals – it won’t happen overnight. But with the right environment (a strong and prosperous economy), proper pruning (reviewing of strategy), water and fertiliser (contributions and reinvested dividends) a seed (small initial investment) can grow into a magnificent tree (a really fruitful investment). Truly great things can grow from the smallest of beginnings.
This article does not consider your personal circumstances and is general advice only – unless otherwise stated. You should not act on any recommendation without considering your personal needs, circumstances and objectives. Adroit Financial Group recommends you obtain professional financial advice specific to your circumstances.