Robert G. Allen: Investing in Savings
on Thursday, January 28, 2016Robert G. Allen Money Quotation saying Savings are not for growth, but for safety and reserves. Invest for growth to get wealthy. Robert G. Allen said:
“How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case” — Robert G. Allen
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In this quote, Robert G. Allen is making the point that few people become truly wealthy simply by saving money in low-risk savings accounts. He seems to be suggesting that accumulating substantial wealth usually requires taking on greater investment risks that offer higher potential returns, such as investing in the stock market or owning a business.
By asking rhetorically how many millionaires are known who got rich from savings accounts alone, Allen is implying the answer is very few. He appears to be advocating for a more aggressive investment approach in order to achieve a high level of financial success and build significant wealth over time, rather than playing it too safe with savings accounts that provide modest returns at best.
The overall message is that generating millionaire-level returns typically demands investment strategies that go beyond conventional savings.