J Paul Getty: Wealthy Advice
on Thursday, October 21, 2021J Paul Getty Money Quote saying If you desire wealth, take advice from the wealthy rather than friends who have little to offer. J Paul Getty said:
“Seek advice on risk from the wealthy, who still take risks, not friends who dare nothing more than a football bet” — J Paul Getty
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In this quote, J. Paul Getty seems to be advising people to get counsel on risk-taking from those who have accumulated wealth through calculated risks, rather than from cautious friends whose idea of daring is a casual football wager.
Specifically, Getty implies that the truly wealthy attained their status by venturing capital into opportunities that involved substantial risk, but where the potential rewards justified the gamble if the risks paid off. These individuals therefore understood risk assessment and management.
In contrast, Getty suggests average friends who limit their own risk-taking to trivial recreational bets are not as knowledgeable about meaningful risk-reward calculations involving life-changing amounts of money or investments.
The best interpretation is that Getty believed the most insightful advisors on consequential risk-taking are those who succeeded through prudent risk-taking themselves to achieve wealth, not casual acquaintances who shy away from meaningful risks. According to Getty, the wealthy who still take smart chances have lessons to offer others contemplating major risks and opportunities.