Elayne Boosler: Charles Schwab Greedy

Elayne Boosler Money Quote saying Charles Schwab took investment money labeled as “safe” to invest in risky mortgages, lost it and paid investors only a dime on the dollar. Elayne Boosler said:
 

 

“Schwab took the money entrusted to it by people willing to accept very little, to protect their savings, and used it to buy high-risk junk mortgages to enrich itself on the back end. We weren’t greedy. Charles Schwab was” — Elayne Boosler

Elayne Boosler seems to be criticizing investment firm Charles Schwab for misusing customers’ savings that were entrusted to the company. She argues that Schwab took the money from customers who were content with modest returns in exchange for protection of their savings.

However, Schwab invested these funds recklessly by using them to purchase high-risk mortgage-backed securities, prioritizing profits for itself rather than maintaining the safety of customers’ money as expected.

Boosler implies Schwab’s greed and risky bets caused harm, while customers had reasonable expectations that their savings would remain secure. Overall, her remarks portray Schwab’s actions as a betrayal of customers’ trust for unjust enrichment.

Loris Gallina: Invest Savings in Trust?

Loris Gallina Money Quote saying we trust in professionals to give us valuable advice, but his bank has failed us as a financial advisor. Loris Gallina said:
 

 

“If I go to a plumber I trust he will fix my plumbing. If I go to a doctor I trust he will cure my health. If I go to a bank to invest my savings I trust it will look after them, So who do I trust now? Who can I trust?” — Loris Gallina

In this quote, Loris Gallina is expressing a loss of trust in the banking system. She notes that traditionally, people trust plumbers to fix plumbing issues, doctors to treat health problems, and banks to properly manage savings investments. However, Gallina asks “who do I trust now?” and “who can I trust?” in the current environment.

This suggests she no longer has the same level of confidence that banks will reliably look after people’s financial deposits and investments. The quote conveys a sense of uncertainty about where one can place their trust regarding money matters after the erosion of faith in banks.

Overall, Gallina appears to be lamenting a breakdown in the trust relationship between the public and the banking industry through this interpretation.

Bernie Sanders: They Bailed Out Banks

Bernie Sanders Money Quote saying while the working public lost their work, savings and houses, the government saved the banks. Bernie Sanders said:
 

 

“The American economy and much of the world was plunged into the worst economic decline since the 1930s. Working people lost their jobs, their homes and their savings, while the government bailed out the banks” — Bernie Sanders

In this quote, Bernie Sanders is describing the impact of the Great Recession that began in late 2007. He notes that the American economy and much of the world experienced the worst economic downturn since the 1930s Great Depression.

Sanders then outlines how this crisis affected working people specifically – they lost their jobs, homes, and savings. He contrasts this by saying that while ordinary citizens suffered greatly, the government’s response was to “bail out the banks.”

Sanders appears to be criticizing the lopsided nature of the recovery efforts, arguing that more could have been done to directly aid average workers rather than just the financial sector.

Overall, the quote captures Sanders’ view that the recession devastated many working families yet the banks received preferential treatment.

Robert G. Allen: Investing in Savings

Robert 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

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.

Bernie Sanders: Under $10K in Savings

Bernie Sanders Money Quotation saying large share of Americans have under 10k in savings, not enough to get them through a few months of retirement. Bernie Sanders said:
 

 

“Nearly half of all Americans have less than $10,000 in savings and have no idea how they will be able to retire with dignity” — Bernie Sanders

In this quote, Bernie Sanders is highlighting the precarious financial situation and lack of retirement security for many Americans. He notes that almost half of all citizens have less than $10,000 in savings, which is a relatively small buffer.

Sanders then states that as a result, nearly half the population “have no idea how they will be able to retire with dignity.” This suggests they do not have adequate retirement plans or funds put aside to support a comfortable standard of living after leaving the workforce.

Overall, the quote underscores Sanders’ view that a large portion of Americans face uncertainty and potential hardship in retirement due to insufficient long-term savings according to this interpretation.

Debt Free for Life – Infographic

Live Debt Free

Personal finances and money can cause a lot of stress and it is normally due to debt or not enough money to pay for bills and the things you want.

Getting rid of your bad debts and having cash reserves can lead to a simpler, happier life.

Here are five tips to start the road to a debt free life.

1: Create a Budget

The first step to ridding yourself of debt is to get your finances in order with a household budget. Write down everything that you have coming in each month and what you spend on bills, rent or mortgage, eating out, shopping and so on. Try to classify the costs out and look for non-essentials you can cut back on. If you find you have more out goings the incomings then your going to end up in more debt every month.

2: Track Your Spending

It’s hard to figure out exactly where all your money is going when creating a budget using bank statements as a reference. Using a notepad or a mobile phone app such as Toshl spend a few weeks tracking everything you spend. This will save you money by making you think twice before spending and also give you a detailed view of where your money goes so you can find further areas to make cut backs.

3: Pay off Debt

To be rid of your bad debt you are going to have to pay off your existing debt and stop creating new debt. Think about doing the following:

* Consolidating credit cards using a balance transfer or using a debt consolidation loan to bring as much of your debt into one place as possible at a lower interest rate.

* If you can’t get all your debt consolidated then focus efforts on the accounts with the highest interest rates first.

* Make room in your budget to pay off as much debt as possible each month.

* Avoid new debt by cutting up your credit cards and switching to debit cards linked directly to the money in your bank accounts.

4: Create a Savings Plan

Make sure you have a savings account with a high interest rate and then create a savings plan with short term and long term goals for items such as holidays, cars and emergency funds for unexpected costs.

5: Avoid Temptation and New Debt

Temptation will be with you all the way along the road so you need to resist it. Avoid taking up new credit, store cards or personal finance loans and try to stick to spending with your own money to enjoy the full benefits of a life without bad debt.

Karl Kraus: Inheriting Wisdom

Karl Kraus Money Quotation saying suggesting that it is far more valuable to gain experience and earn wisdom than to save cash and store earnings. Karl Kraus said:
 

 

“Experiences are savings which a miser puts aside. Wisdom is an inheritance which a wastrel cannot exhaust” — Karl Kraus

In this quote, Karl Kraus is contrasting experiences and wisdom. He argues that experiences are like savings that accumulate over time through effort and diligence. However, wisdom is more akin to an inheritance in that it cannot be depleted no matter how unwisely one acts (“a wastrel”).

The implication is that experiences can be “put aside” and collected gradually, but wisdom gained from those experiences becomes a permanent possession that will remain with a person even if they squander other resources or live unproductively.

So in summary, the quote views experiences as a savings that can be depleted, whereas wisdom obtained from experiences is seen as a more enduring inheritance or possession that is not diminished by poor decisions or wasteful behavior.

Birthday: April 28, 1874 – Death: June 12, 1936

Brian Tracy: Financial Security

Brian Tracy money quotation on Financial Security having three legs of reserves, investing and protection of money in his wise money advice.
 

 

“Financial security and independence are like a three-legged stool resting on savings, insurance and investments” — Brian Tracy

Brian Tracy is suggesting that true financial security and independence require having savings, insurance, and investments as complementary pillars of support. His view seems to be that no one element alone can provide a solid foundation, but rather like a stool needing three stable legs, long-term economic well-being rests on having savings for unexpected needs, insurance to mitigate risks, and investments to help savings and earnings grow over time.

The quote conveys Tracy’s message that a balanced and diversified approach incorporating these three elements is necessary to achieve lasting protection and autonomy in one’s financial affairs.

Birthday: January 8, 1944 – Present