Jack Bogle: Money Hard to Come By
on Saturday, October 15, 2016Money Quote from Jack Bogle, founder of investment giant Vanguard Group saying at 87 that frugality is important. Jack Bogle said:
“You understand a whole lot about money when there isn’t any. What you learn is that money is hard to come by, and it is important not to waste it” — Jack Bogle
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In this quote, Jack Bogle seems to be sharing lessons he learned from experiencing financial hardship or scarcity at some point. A few key points:
- He notes that when money is lacking or absent, it leads to truly understanding “a whole lot about money” – likely referring to a deeper appreciation for its value and importance.
- Bogle implies that not having funds available teaches the harsh reality that acquiring money requires significant effort and “is hard to come by.”
- He suggests another crucial lesson is recognizing the need to avoid wasting money and instead make the most of limited financial resources.
Overall, the quote conveys Bogle’s perspective that struggling with insufficient money provides valuable insights into properly valuing and managing finances prudently. His experience shows that times without wealth foster greater respect for the difficulty of earning funds and importance of using money carefully rather than frivolously.
Birthday: May 8, 1929 – Death: January 16, 2019