Money Quote Friday – Model T Edition.
Well, I am not sure if I agree 100%, but there is something to this quote from Henry Ford. To “succeed” in life, one must concentrate on oneself as well as putting money in the bank. Whether that be by taking a class, finding time to relax, starting a business or whatever, to truly succeed is worth more than having money in the bank. And to me, having money without happiness doesn’t mean a thing.
“I think that much of the advice given to young men about saving money is wrong. I never saved a cent until I was forty years old. I invested in myself – in study, in mastering my tools, in preparation. Many a man who is putting a few dollars a week into the bank would do much better to put it into himself.” – Henry Ford
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I sure hope it’s wrong because I’ve saved much more than a cent and I’m not 40 yet. Maybe Henry hadn’t heard of compound interest.
Seriously, I get his point. The equivalent would be saying that you would rather save money than invest in a post-graduate education, for example – maybe not the best idea. In any case, a thought-provoking quote.
Happiness and money are really different things, i think