Felix Dennis: Wealth Preservation

Felix Dennis Money Quote saying that unless you’ve stopped working altogether, that making money is a great way to preserve wealth. Felix Dennis said:
 

 

“Unless you are completely retired, earning money is the best form of wealth preservation” — Felix Dennis

In this quote, Felix Dennis seems to be emphasizing the importance of continued income generation for maintaining one’s financial prosperity and security over time. The best interpretation is:

• Dennis states that as long as one is not fully retired, actively “earning money” through work, business ownership or investments is the most reliable means of “wealth preservation.”
• He implies that relying solely on existing assets or savings carries more risk of depletion from inflation, taxes, expenses or market volatility compared to earning a living.
• Dennis appears to believe maintaining revenue streams is crucial for sustaining wealth, as it provides new inflows to offset costs and replenish resources on an ongoing basis better than passive assets alone.

Overall, the quote conveys Dennis’ perspective that as long as retirement has not begun, the surest path to preserving one’s prosperity is through ongoing income generation activities that supplement existing wealth, rather than assuming current assets in isolation can reliably maintain one’s standard of living long-term according to his view on optimizing long-run financial preservation.

Birthday: 27 May 1947 – 22 June 2014

Steven J. Lee: Investment Advisor Smarts

Steven J. Lee Money Quote saying Take care in who you trust to handle your money, based on their personal success at investing their own money. Steven J. Lee said:
 

 

“Thy shalt not worship thy investment advisor, for if she were so smart she would be retired by now” — Steven J. Lee

In this quote, Steven J. Lee is cautioning against putting too much blind faith or trust in an investment advisor’s recommendations and abilities. By saying “Thou shalt not worship thy investment advisor”, he means people should not idolize or revere their advisor as infallible.

Lee then argues that if an advisor truly had unparalleled insight or predictive powers, they would have amassed enough wealth from successful investing to have already “retired by now.”

This implies that even professionals cannot forecast markets or returns with certainty. Overall, the quote encourages skepticism of advisors and emphasizes that investors should make independent assessments rather than assume advisors necessarily know more or have special gifts according to this interpretation.

Richard Rainwater on Luck & Timing

Richard Rainwater Money Quotation saying luck plays a bigger role in wealth than many believe – but access to the right place doesn’t come to everyone. Richard Rainwater said:
 

 

“I’m just a retired guy who made a couple billion by being in the right place at the right time” — Richard Rainwater

In this quote, Richard Rainwater is downplaying his success and wealth in a self-effacing manner. While he acknowledges making “a couple billion” dollars, he attributes it primarily to being “in the right place at the right time” rather than his own skill or efforts.

Rainwater’s statement suggests that a significant portion of achieving great financial success comes down to circumstances outside one’s control, like timing and luck, rather than just talent and hard work alone.

His comment positions himself as just an “ordinary retired guy” rather than emphasizing his accomplishments. Overall, the quote conveys Rainwater’s perspective that amassing a large fortune can be as much a matter of being presented with the right opportunities at the right moment as it is the result of any unique abilities on his part.

Birthday: June 15, 1944 – Death: September 27, 2015