Wealth

“Urgency gets you out of poverty. Patience gets you to wealth is what I had to learn.”

“And you get to a certain amount of money, then you decide there are some things I don't have to do anymore. I don't have to be a security guard. I don't have to flip burgers. Right. But that very quickly goes up for the thing. I don't have to tolerate certain …”

“The problem is the majority of us look at wealth through the amount of income we make. We don't calculate wealth based off how long do I not have to work and I'm still okay.”

“The equity that you build isn't really wealth because you, when you sell that house, you probably have to buy another one that went up in value just as much. And unless you are moving to a cheaper city, which of course that happens, You're not getting any bene…”

“And so the things that make my wife and I happy, we like walking our dog, and we like that 10 years ago as much as we do today. And even before we had a dog, we like going for walks and doing this. We like laughing and talking about things in one. It's things …”

“You have just like in a portfolio and I'm not, wait, look, I'm not saying you want to maximally diversify all the time, right? It's a tough way to build wealth at least quickly.”

“Relative to where I was five years ago, I don't have more better days, but I think I have fewer bad days, which is a lifestyle improvement. That is a better life. That is an upgrade. But let's not pretend that when people make Some amount of money. They're jus…”

“Like, if I, gun to my head, I think you will be more wealthy if you do one thing, but you're more likely to be miserable and not have an enjoyable life.”

“So that is a huge release, you know, of stress that I just don't care about that stuff anymore. So that just takes like, I don't know, one third of the problems, and I'm just like, ok, I don't care, just pay it, you know, move on.”

“When people get money that they maybe didn't deserve or they didn't earn, then they're forever living in a scarcity mindset because they're afraid of losing it. Because if you have something that you covet that you have no way of getting back if you lose it, t…”

“There's no way to like earn your way into the upper class anymore. Right. Into wealth is not mathematically possible. The way to do it through income. Right. The only way to do it is to make highly asymmetric bets with your time. Right. Or with your capital.”

“One thing I also noticed is that there was not a correlation between how much money they made and how much wealth they built. Sometimes it went in opposite directions, which means, you know, the more somebody made, maybe the more debt they had being independen…”

“When you get rich, the point of getting rich, in a way, is to separate the questions of, what do I do with my money? What do I do for money? And what do I do with my time? Those are now separate questions for you. But before, when you have no money, they're th…”

“Even if this person has like, let's say 10 times the net worth that we have, they don't have like 10 times the better life. They don't even have maybe two times the better life. I actually don't think that there's really like any link, and I don't mean better …”

“What's wrong with accumulation of anything? Wealth, status, success. It's great. Enjoy it. Now, when you cling to it, you're starved and you're on a survival mode.”

“His saying is, is we buy stuff to give it away. And it's true. Like, I didn't buy this boat so I could be on this boat by myself. I bought this boat to share memories with my friends. I didn't buy this property to just sit out here like Little Lord Farm or in …”

“The weird thing here is that wealth is the money that you don't spend. That's what wealth is, like the homes you didn't buy and the car you didn't buy. It's money that you saved and invested. That is going to give you independence, and that's a hard thing for …”

“You don't want the wealth that you pass your kids to burden them into a lifestyle that they don't want for themselves. You just want to be like, here's enough money so that you can have the leverage and the tools to find out who you want to be and live the lif…”

“If you raise your kids, even if you have a lower income, but you raise them with an obsession with money, To like, that's the scorecard of measuring other people. It's like, well, what's your net worth? What's your salary? That's why I'm going to measure you b…”

“Don't think that all poverty is due to laziness and don't think that all wealth is due to hard work. It's not. If you are just ranking people by their net worth and ranking their value by the net worth, that's probably the most dangerous thing you can do with …”

“To me, wealth is nothing but storage of energy. And therefore the reason wealth is not zero sum because energy is, and we are just finding all ways to convert energy in our advantage.”

“Money is a way of moving wealth, and in practice, they are usually interchangeable, but they are not the same thing.”

“A great programmer could create a million dollars worth of wealth in a couple weeks. A mediocre programmer over the same period will generate zero or even negative wealth.”

“Wealth is getting concentrated into so few hands that it becomes dangerous. And you never know where it starts. You never know the moment of ignition.”

“You work hard, you deserve, you get the reward. But that doesn't mean that what you got as a reward is for you. You know, you may need a limited part of it, actually, you know, so what you deserve and what you got is something else, what you need is maybe a po…”

“I think every dollar over for most people, ten million is pretty marginal. It doesn't really add anything else.”

“Without question, tokens help distribute wealth.”

“Well, maybe that's worse because everyone feels indebted to you and they're awkward about it. And there's all this status. Like I think wealth just in many ways just makes that stuff worse.”

“If you grow up poor, at least for me, there's always this odd thing where you're afraid that it's going to be taken away.”

“You can kind of sweat your way to like maybe five or ten million in a lifetime, but becoming a billionaire and this huge outlier, I think it takes like a particular type of skill. Like you just genetically Predisposed to have it in your favor. And I think that…”

“Cause basically to me, when the phrase I'm busy means I'm poor, it's like, if I think wealth is freedom of time and to be able to spend it how you want, then saying I don't have time means I'm poor.”

“Wealth is, is an accelerant. It's like, if you're a really greedy person, it makes you more greedy. If you're a really generous person, it makes you more generous.”

“The difference between being broke and wealthy is a very small sum of money. In other words, especially early in your career, I was 22 at the time. If you can pull together enough cash to buy a house, to buy a car, to furnish your house, which by the way is no…”

“I will guarantee you that that path will continue to bind you in unhappiness, because there is no point where you suddenly wake up once you're on that treadmill and think, oh, that was it. That extra million, or that extra ten million, or that extra billion, t…”

“When they create wealth, 90% of it goes into their communities and their families, and we give more money to nonprofits as a percent of our wealth.”