In the long run, it's not just how much money you make that will determine your future prosperity. It's how much of that money you put to work by saving it and investing it.
Social Security is the foundation stone of that kind of retirement security. It not only needs to be strengthened in order to make sure it's there for younger baby boomers and Generations X and Y, but it probably needs to be strengthened and expanded because the retirement benefits now being offered by most employers are not sufficient to support middle-income Americans in their long years of retirement.
Financial security puts me at ease and makes me reel good about my future
I'm not gonna buy something without planning. If I buy $100,000 worth of gold, I gotta put $100,000 aside for my family in case something happens. You look kind of stupid wearing all that gold and you didn't have no plan.
This is something that I do consider to be good advice: I took my first paycheck and I put it in the goddamn bank. Then I took my second paycheck and put it in the goddamn bank. I had seen the roller coaster of my father's career - top of the world, then unemployed - and I never wanted to take a job because I needed money.
Thankfully, in my youth I had the best financial advisor a son could ask for: my dad Walter. When I got that first signing bonus in 1978, Dad took my cheque, announced, 'This is what we're going to do,' and bought an annuity with it.
As part of Social Security reform, I believe that private savings accounts are a part of it - along the lines that President Bush proposed.
If I do not do sensible things about investments I shall spend my old age in a workhouse, where nobody will understand my jokes.
When we lavish our money we rob our heir; when we merely save it we rob ourselves.
The truth is, if you are a woman saving 10% of your income for retirement, and you put it in the bank account, your chances of retiring well - living on 90% of your pre-retirement income for your full life - is 0%.
Shortly after I met my mentor he asked me, ‘Mr. Rohn, how much money have you saved and invested over the last six years?’ And I said, ‘None.’ He then asked, ‘Who sold you on that plan?’
Save your money, pay your taxes, it doesn't last forever.
The essence of any plan for financing old age is saving-to put aside some part of today's earnings for the future. Anything that saps the value of savings-and inflation is the worst single threat-is the enemy of the aged and of those who expect to grow old.
Social Security Works! puts expanding Social Security front and center on the national agenda, where it belongs. Everyone who has a stake in the debate should read this important book.
Take Charge Of Your Financial Future. I believe investing small amounts each month in the stock market will give you financial freedom in the later years of your life.
I will always have enough money to last the rest of my life...as long as I don't buy anything.
Thrift is not some obsolete Victorian notion. . . . It will be the difference between those who prosper and achieve respect and those who become a burden to their children and society.
When I retire, I wanna be able to just lay back. Only way to make it happen is to be investing my money, not spending it.
No one is talking about restructuring Social Security or Medicare for current retirees or for those that are near retirement. For those under 55, the answer is let's talk about it.
In the next 15 or 20 years, I hope I'll be the richest man in the world. That's one of my goals. I want to be a billionaire. I want to get to a position where generation on generation don't have to worry about nothing. I don't want family members from my kids to my son's kids to never have to worry. And I can't do that now just playing basketball.
Every man has problems that only life insurance can solve. In the young man’s case, the problem is to create cash; for the older man, to conserve it.
Often, the more money you make the more money you spend; that's why more money doesn't make you rich - assets make you rich.
I don't invest in the stock market, but I have pension funds - some in America and the UK.
Some families sell their stocks off a little bit at a time to live high, and then - boom - somebody takes them over, and it all goes down the drain.
Buy an annuity cheap, and make your life interesting to yourself and everybody else that watches the speculation.
