Stock prices aren't real things. They're just froth on a wave. The wave is the only real thing, which investors forget when they're watching the ticket slither by.

You normally don't get a margin call unless your securities, minus the debt, are worth 30% or less of their nominal market value.

The best real-estate investments with the highest yields are in working-class neighborhoods, because fancy properties are overpriced.

Financial planners who take commissions have a built-in conflict of interest...even with disclosure, my choice would be a Fee-Only planner.

A faithfully kept program of savings and conservative investments can give you more money and a better life than that of your neighbors who spend everything they get. This is probably the oldest financial advice in the world, but there are some things you can't improve on.

Three reasons not to have a [spending] plan: 1. You're rich enough to buy anything you want and still have plenty of money left over. 2. I forget the other two.

Where you stand should not depend on where you sit.