Category Archives: Quote of the Month

Per­sonal finance as your new hobby? No.

“You do not need to make personal finance your new hobby.”

-Bruce Sell­ery, author of Moolala.

This picture is called "Perspective". Get it? Of course you do.
This picture is called “Perspective”. Get it?
Of course you do.

It is easy to get carried away with just about anything these days. I’m not going to list any specific examples, just in case you happen to be an enthusiastic member of the Society for the Appreciation of Historical Romanian Luggage (oops) but you know what I mean. Personal finance is certainly a subject that lots of people get very into. It’s hard to say that these people have gotten carried away because, well, most of them are richer than I am, so I would just sound bitter. But it is indeed easy to lose perspective and have wealth accumulation become an end unto itself, instead of a means to the end of a full, stable, satisfying life. Being able to provide this kid of life for myself and my family was, and still is, my ultimate reason for becoming involved with personal finance.

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“The first $100,000 is a bitch”

The first $100,000

Seems daunting from down here, doesn't it?
Seems daunting from down here, doesn’t it?

In her book Damn Right!: Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger, Janet Lowe credits Charlie Munger with uttering the sentence, “The first $100,000 is a bitch” at an annual shareholders meeting.

It may be tempting to roll your eyes and see this as some kind of platitude that has no real relevance to where you are today, but that would be a mistake.  There’s both wisdom and math behind that deceptively simple sentence.

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