E.M. Forster: You Have Money

Meaning of E.M. Forster Money Quote: saying when you have wealth, there are rarely great risk. E.M. Forster said:

 

 

“There’s never any great risk as long as you have money” — E.M. Forster

This quote from E.M. Forster suggests that having financial resources or money reduces the level of risk one faces in life. Some key points in interpreting his perspective:

• Forster implies that wealth provides a buffer or safety net that lessens the potential dangers or uncertainties people must contend with.
• He portrays money as enabling greater stability, flexibility and ability to weather hardships by meeting needs or seizing opportunities that those with fewer resources cannot as readily access.
• However, reasonable people can disagree on this, as no amount of wealth guarantees health, strong relationships, fulfillment or safety from all life’s unpredictable changes. Non-financial factors also determine well-being.
• A balanced interpretation is that while money offers advantages, it does not eliminate risk or hardship entirely. For many, a prudent balance of savings, investments, insurance and social support systems optimizes both security and independence according to one’s priorities, abilities and changing needs over the lifespan.

Overall, Forster’s quote conveys his perspective that money acts as a risk reducer. But the best analysis considers this viewpoint alongside others, recognizing that personal finance involves complex interactions between resources, relationships, life events and philosophies that shape prosperity – and no single factor alone determines outcomes or priorities for individuals according to their unique paths. Multiple perspectives have merit in discussions of optimizing welfare.

Birthday: January 1, 1879 – Death: June 7, 1970

Mark Carney: Necessary Investment

Mark Carney Money Quote saying if we value the lives we are currently living above the one we hope to live, making investments in the future are less likely. Mark Carney said:
 

 

“If we value the present much more than the future, then we’re less likely to make the necessary investments today to reduce risk tomorrow” — Mark Carney

In this quote, Mark Carney is discussing the relationship between how much value is placed on the present versus the future and the implications for making important long-term investments. He argues that if people and societies overvalue the present and undervalue the future, then they will be less inclined to make necessary investments in the present that can help reduce future risks.

By “investments” Carney seems to mean financial expenditures as well as other sacrifices made now for long-term benefits. The quote suggests that heavily prioritizing short-term gains over future security can discourage prudent actions today to safeguard against potential future threats. Overall, Carney appears to be emphasizing how hyper-focusing on immediate interests can undermine preparing for long-run risks according to this interpretation.

Frank Abagnale Jr: No Debit Card

Frank Abagnale Jr Money Quote saying debit cards are riskier than credit cards because someone could access your cash, not the bank’s money. Frank Abagnale Jr said:
 

 

“Never, ever use a debit card….. a debit card is certainly and truly the worst financial tool ever given to the American consumer. Why? It’s simple: Every time you use one, you put your money and your bank account at risk” — Frank Abagnale Jr.

In this quote, Frank Abagnale Jr. seems to be strongly advising against using debit cards due to security risks. By stating that a debit card is “certainly and truly the worst financial tool ever given to the American consumer”, and that each use puts “your money and your bank account at risk”, Abagnale implies debit cards expose users to potential fraud and losses.

The quote conveys Abagnale’s perspective that debit transactions directly access and deduct funds from one’s checking account, unlike credit cards where the user is not liable for fraudulent charges, making debit a riskier option.

Overall, Abagnale appears to be arguing from experience that debit cards provide little recourse if compromised compared to credit, and that consumers’ bank balances are more vulnerable as a result when using debit for payments rather than relying on credit lines alone that do not immediately debit available cash.

Kevin Costner: Money At Risk Movie

Kevin Costner Money Quote saying relying on his gut to make movies while risking money or home is worth it. Kevin Costner said:
 

 

“I have instinctually thought I could do things in my life, and I followed that up by sometimes putting everything I have at risk – my money, my house – to make a movie” — Kevin Costner

Kevin Costner is saying that throughout his career, he has had a strong belief and confidence in his abilities as a filmmaker. This instinctual self-belief led him to be willing to financially risk everything he owned, such as his money and home, in order to make some of the movies he envisioned.

By “putting it all at risk”, he means he was prepared to lose all his personal wealth and assets if those films ended up not being commercial successes. So Costner is explaining that for projects he felt deeply passionate about, he demonstrated tremendous dedication by gambling his entire financial security to ensure those movies got made, even at great personal financial risk.

Birthday January 18

Donald Trump: Don’t Love Investments

Donald Trump Money Quote saying investment risk should be measured by willingness to lose the amount you invest, so hold on to what you love and can’t afford to say goodby to. Donald Trump said:
 

 

“How much money can you stand to lose? That’s how much risk you should assume. If you can’t afford to lose it, play it safe. Never fall in love with your investments. Do that and you’re in big trouble. To be a visionary and to be a billionaire, you have to chase impossibilities. Few ever get rich easily” — Donald Trump

In this quote, Donald Trump provides some advice about taking risks with investments. Some key points in interpreting his perspective:

• He suggests the level of risk one takes on should correlate to how much financial loss they can withstand, implying greater risk is acceptable for the wealthy.
• Trump warns against becoming too emotionally attached to specific investments, as that could cloud objective decision-making.
• He portrays pursuing “impossibilities” and not taking the easy path as traits of visionaries and billionaires like himself.

However, a balanced interpretation would note that risk tolerance varies significantly between individuals, and past successes are no guarantee of future returns. While ambition and calculated risk-taking can lead to rewards, overconfidence in long-shot bets could also result in loss.

A variety of factors beyond risk appetite determine both investment outcomes and business success over the long run. Overall, the quote reflects Trump’s outlook but a balanced view considers multiple reasonable perspectives on complex financial issues.

Donald Trump: Other People’s Money

Donald Trump Money Quote saying other people take on investment risk when you use their money toward your goals. That’s OPM. Donald Trump said:
 

 

“It’s called OPM. I do that all the time in business. It’s called other people’s money. There’s nothing like doing things with other people’s money. Because it takes, the risk, you get a good chunk of it and it takes the risk” — Donald Trump

In this quote, Donald Trump is referring to the concept of “OPM” or “other people’s money” as a business strategy he employs frequently. Some key points in interpreting his perspective:

• He portrays using outside capital (OPM) as a way to take on ventures with less personal financial risk while still retaining significant potential profits.
• Trump implies this allows him to be more aggressive and take greater risks than if relying solely on his own funds.
• However, investors and partners also assume risk when providing capital, so a balanced view is their interests must also be protected for ventures to succeed responsibly.
• His tone suggests prioritizing his potential upside over acknowledging shared risk inherent in business partnerships.

Overall, while Trump aims to convey his approach, a balanced interpretation recognizes that reasonable experts may disagree on where to draw the line between prudent risk-taking and protecting the needs and investments of all stakeholders involved in enterprises. The quote reflects Trump’s viewpoint but not the full complexities of managing risk and reward across all parties.