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The prospect of penury in age is so gloomy and terrifying that every man who looks before him must resolve to avoid it; and it must be avoided generally by the science of sparing. For, though in every age there are some who, by bold adventures, or by favorable accidents, rise suddenly to riches, yet it is dangerous to indulge hopes of such rare events; and the bulk of mankind must owe their affluence to small and gradual profits, below which their expense must be resolutely reduced.
Lyndon B. Johnson
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Interpretation

What this quote means

This quote emphasizes the importance of financial prudence to avoid poverty in old age.

Lyndon B. Johnson's quote reflects the universal concern about financial security in later years. It warns against relying on unlikely fortunes and advocates for a disciplined approach to saving and spending, suggesting that most individuals will achieve wealth through consistent, small gains rather than relying on sudden wealth from luck or risk-taking. Thus, financial stability is best maintained by living within one's means and practicing the art of saving.

Themes

Financial SecuritySavingsPrudenceWealthFinancial Planning

In practice

Example use cases

This quote can be shared in a financial literacy seminar to highlight the importance of budgeting.

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You do not examine legislation in the light of the benefits it will convey if properly administered, but in the light of the wrongs it would do and the harms it would cause if improperly administered.
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Quote by Lyndon B. Johnson | QuoteProject