Jul 29, 2021
The theme this week on the One Minute Retirement Tip podcast is: 5 inspiring quotes about money and investing.
Today’s quote comes from Thomas Edison. He said: “Opportunity is missed by most people because it is dressed in overalls and looks like work.”
Have you ever seen those ads on Facebook or YouTube that feature 20 somethings who have it seemingly all figured out. They’re living life in a tropical locale, fully embracing the 4 hour workweek, and telling you all about how you too can achieve passive income.
There are plenty of people who are wealthy who are making passive income through their businesses, their dividend paying stocks and/or their real estate portfolio, but I can certainly tell you that it didn’t come from hacking the system and earning a passive income stream straight out of the gate.
Building wealth is years and years of hard work and sacrifice. Warren Buffett, at the age of 90, he has accumulated just over $100 billion in net worth through patience and shrewdness. But what most people don’t know about Buffett is that the vast majority of his net worth was earned after the age of 65. He has been at it so long and putting in the time and effort and hard work, that his wealth has exploded in the last 25 years compared to the previous 60.
A lot of that is from the power of compound interest. He has been an investor for so long, and the doubling of his money happened a few more times because he has been investing actively for over 70 years now.
So I think Edison is right….“Opportunity is missed by most people because it is dressed in overalls and looks like work.” We all want the easy button, but it just doesn’t work that way and it’s not a sustainable wealth to earning and keeping wealth.
That’s it for today. Thanks for listening! My name is Ashley Micciche and this is the One Minute Retirement Tip.
---------
>>> Subscribe on Apple Podcasts: https://apple.co/2DI2LSP
>>> Subscribe on Amazon Alexa: https://amzn.to/2xRKrCs
>>> Visit the podcast page: https://truenorthra.com/podcast/
----------
Tags: retirement, investing, money, finance, financial planning, retirement planning, saving money, personal finance