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Ep 44: Applying Mark Twain Quotes to Finance

Home 9 Podcast 9 Ep 44: Applying Mark Twain Quotes to Finance

The Concept:

Mark Twain is considered one of the greatest writers in American history and many of the things he wrote and said are still very applicable more than 100 years later. To celebrate his humor and wisdom, we pulled some of his best quotes and applied them to financial planning.

The Reality of the Matter:

Part of becoming a successful person and investor is learning from others. History provides us with many great role models and it’s important to revisit the work of others in order to improve ourselves.

One source of endless wit and wisdom was the great author Mark Twain. Not only was he one of our country’s greatest writers, but he was also an entrepreneur, lecturer, and humorist. His quotes continue to be used more than 100 years after his death, and many of these can be applied to finance and planning.

That’s the plan for this episode of the Retirement Reality Podcast. We pulled six great quotes that cover everything from saving money to politics and we asked Mike Kojonen to tell us how they relate to money. It’s pretty amazing how much insight can still be pulled from these quotes and we enjoyed running through this list.

Just for fun, we threw in a handful of Yogi Berra quotes as we await the return of baseball to Minnesota. These aren’t as much financial-driven as they are just plain funny and witty.

MAILBAG

Our mailbag this show takes us to investment strategies. This listener is a couple years away from retirement and wonders when they should shift their focus from growing money to protecting it. This is a great question and gives us a chance to discuss how planning strategies shift depending on age. When you’re that close to retirement, it really is a good time to begin limiting your risk and thinking more about protecting what you have and Mike will give us a breakdown of how to change your thinking.

Listen to the full episode or click on the timestamps below to skip around to a specific topic.

1:29 – Before we turn to Mark Twain quotes, let’s begin with our favorite Yogi Berra quotes.

3:58 – 1st Mark Twain quote

5:43 – 2nd Mark Twain quote

7:05 – 3rd Mark Twain quote

8:44 – 4th Mark Twain quote

10:26 – 5th Mark Twain quote

12:02 – 6th Mark Twain quote

14:37 – Mailbag Question: When should I start focusing less on growing my money and focus more on protecting it instead? I plan on retiring in two years and the volatility makes me nervous.

Thanks for checking out the Retirement Reality Podcast. We’ll talk to you again next week.

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