20 timeless money rules

Money Magazine collected the best advice from some of the smartest investors (and other people) who have ever lived.

Just do it
14. Just do it
It takes as much energy to wish as it does to plan.
--Eleanor Roosevelt


Financial planning is an unnatural act. The brain is wired to make us undervalue long-term goals and exaggerate the cost of short-term sacrifice. Yet studies show that people who do even a little retirement planning had twice the savings of those who did almost none. Heed the words attributed to Mrs. Roosevelt by doing the following:
  • Set concrete, attainable goals. "I'll pay an extra $100 a month on my credit card" is more likely to succeed than "I'm going to get my act together."
  • Then commit. Tell someone your plan and agree to a penalty--you'll do your spouse's chores for a month if you haven't saved $10,000 extra by June.

Confucius

Friedrich von Schiller

Benjamin Franklin

Miguel de Cervantes

Gary Brinson, Brian Singer and Gilbert Beebower

Warren Buffett

Edwin Lefevre

Peter Lynch

Jack Bogle

Coco Chanel

Warren Buffett

St. Augustine

Harry Truman

Eleanor Roosevelt

John Kenneth Galbraith

Stanley Kunitz

Pablo Picasso

John Maynard Keynes

Martin Luther King Jr.

Jonathan Swift
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Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.