I would always advise young people to follow their star - not my star. They have to live their own life. If they decide they want to go into the investment business, do it, but make it a better business than it is today.
John C. BogleRead
If you put nothing away for retirement, I can tell you, to the last penny, how much you will have when you retire: nothing.
Interpretation
What this quote means
Planning for retirement is crucial; without savings, you will have nothing to rely on.
John C. Bogle's quote emphasizes the importance of saving for retirement. It starkly illustrates that neglecting to set aside funds for the future will lead to a lack of financial resources when the time comes to retire. The quote serves as a warning and reminder that proactive financial planning is necessary to ensure a comfortable and secure future.
Themes
RetirementSavingsPlanningFinancialFuture
In practice
Example use cases
In a financial planning seminar, encourage attendees to start saving for retirement early with this quote.
More from John C. Bogle
All quotes βWhen our financial system - essentially our money managers, marketers of investment products and stockbrokers - put up zero percent of the capital and assume zero percent of the risk yet receive fully 80% of the return, something has gone terribly wrong in our financial system.
John C. BogleRead
Entrepreneurs or international conglomerateurs, or large financial institutions buy or create mutual fund management companies to create a return on their own capital. It's capitalism at work, where the rewards tend to go to the managers rather than the investors.
John C. BogleRead
Net return is simply the gross return of your investment portfolio less the costs you incur. Keep your investment expenses low, for the tyranny of compounding costs can devastate the miracle of compounding returns.
John C. BogleRead
Investing is a virtuous habit best started as early as possible.
John C. BogleRead
Wise investors won't try to outsmart the market.
John C. BogleRead
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