By Ernie J. Zelinski
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(Facts, Quotes, and Sayings about Investing Money and Spending Money Wisely for the Retired and the Soon-to-Be Retired)

Spending Money Wisely  

Can I retire early with the money I have in the bank and in my Social Security entitlements at my retirement age? Likely not, if you are asking the question.

Life's Secret Handbook states: It is one thing to blame your financial  shortcomings on someone or something. It is another to escape the consequences by blaming yourself and doing something about it.

Benjamin Franklin's Advice about Money


Here is something written by Benjamin Franklin that relates to money management. If more Americans, not to mention people in other countries, followed this strategy, they would not have a problem with their finances in their retirement.


"When I was a child of seven years old, my friends, on a holiday, filled my pocket with coppers. I went directly to a shop where they sold toys for children; and, being charmed with the sound of a whistle, that I met by the way in the hands of another boy, I voluntarily offered and gave all my money for one. I then came home, and went whistling all over the house, much pleased with my whistle, but disturbing all the family. My brothers, and sisters, and cousins, understanding the bargain I had made, told me I had given four times as much for it as it was worth; put me in mind what good things I might have bought with the rest of the money; and laughed at me so much for my folly, that I cried with vexation; and the reflection gave me more chagrin than the whistle gave me pleasure. This however was afterwards of use to me, the impression continuing on my mind; so that often, when I was tempted to buy some unnecessary thing, I said to myself, Don't give too much for the whistle; and I saved my money." 

BENJAMIN FRANKLIN, letter to Madame Brillon, November10, 1779. - The Works of Benjamin Franklin, ed. Jared Sparks, vol. 2, p. 181 (1836)

Also see Importance of Money in Retirement 

Quotes about Investing and Spending 

Money Wisely in Retirement

Here are some quotations about money that offer advice and humor about investing and spending money wisely in retirement. 

People who don't respect money don't have any.
— J. Paul Getty

People who are foolish with money are foolish in many other ways too.
— Dave Erhard

The greatest stock market you can invest in is yourself. Finding this truth is better than finding a gold mine.
— Byron Katie

A November 25, 2003 Wall Street Journal article revealed that the median car payment in the U.S. is $383. says that it is $447. Many are $600 or more per month. Given that one third of Americans are saving enough for retirement, shouldn't this give us some ideas?
— Jon Hanson

Beware of little expenses: a small leak will sink a great ship.
— Benjamin Franklin

Money is easy to handle;
There are two secrets:
The first is spend less than you make.
If this doesn't work for you, then the second one is definitely for you:
Make more than you spend.
That's all there is to handling money.
— from Life's Secret Handbook

It is not helpful to help a friend by putting coins in his pockets when he has got holes in his pockets [and his brain].
— Douglas Hurd

Better a good dinner than a fine coat.
— French proverb

The money you enjoy spending frivolously to enhance your retirement is money well spent.
— from How to Retire Happy, Wild, and Free

Don't ask the barber whether you need a haircut.
— Daniel S. Greenberg


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There are two times in a man's life when he should not speculate: when he can't afford it, and when he can.
— Mark Twain

The way to make money is to buy when blood is running in the streets.
— John D. Rockefeller

Stay in love with a security until the security gets overvalued, then let somebody else fall in love with it.
— Roy Neuberger 

Don't buy expensive socks if you can never find them.
— Unknown wise person

Real richness in retirement is in how you spend your money.
— Unknown wise person

When I get a little money I buy books; and if any is left I buy food and clothes.
— Eramus

Life is too short to do anything for oneself that one can pay others to do for one.
— W. Somerset Maugham

Never economize on luxuries.
— Angela Thirkell

I don't think you can spend yourself rich.
— George Humphrey

The waste of money [particularly in retirement] cures itself, for soon there is no more to waste.
— M.W. Harrison

Never buy what you do not want, because it is cheap; it will be dear to you.
— Thomas Jefferson

It is wonderful to think how men of very large estates not only spend their yearly income, but are often actually in want of money. It is clear, they have not value for what they don't think you can spend yourself rich.
— George Humphrey

Misers amass wealth for those who wish them dead.
— Polish proverb

After spending some money in his sleep, Hermon the miser was so hopping mad he hanged himself.
— Lucilius

Once you have decided to keep a certain pile, it is no longer yours, for you can't spend it.
— Michel de Montaigne

Riches are to be used and not to be hoarded. After all, what's the ultimate purpose of money, but to spend it?
— from the international bestseller How to Retire Happy, Wild, and Free: Retirement Wisdom That You Won't Get from Your Financial Advisor

Money is only useful when you get rid of it. It is like the odd card in Old Maid; the player who is finally with it has lost.
— Evelyn Waugh

The sage does not hoard. Having bestowed all he has on others, he has yet more. Having given all he has to others, he is richer still.
— Lao-Tzu (6th century B.C.), Legendary Chinese philosopher.

Misers aren't fun to live with, but they make wonderful ancestors.
— David Brenner

Invest in the known before the unknown.
— Suze Orman

Nobody ever lost money taking a profit.
— Bernard Baruch

Buy on the cannons, sell on the trumpets.
— French adage

Buy on the rumor, sell on the news.
— Wall Street adage

Take care to sell your horse before he dies. The art of life is passing losses on.
— Robert Frost

Whatever you have, spend less.
— Samuel Johnson

Attend no auctions if thou hast no money.
— The Talmud

Never buy expensive wine, luggage, or watches.
— H. Jackson Brown, Jr.

Your best purchases in retirement will turn out to be the ones that you never made.
— from the book The Joy of Not Working

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Never buy a thing you don't want merely because it is dear.
— Oscar Wilde

What a lot of things there are a man can do without.

— Socrates

Any man who has $10,000 left when he dies is a failure.
— Errol Flynn

If you want to really know what your friends and family think of you — die broke, and then see who shows up for the funeral.
— Gregory Nunn

It's better to live rich than to die rich.
— Henry David Thoreau

It's a wise man who lives with money in the bank; it's a fool who dies that way.
— French proverb

To die rich is to have lived in vain.
— Jiddu Krishnamurti

He who gives while he lives also knows where it goes.
— Percy Ross

Ah, well, then I suppose I shall have to die beyond my means.
— Oscar Wilde

Note: See Retirement Income and Spending Retirement Money Wisely for information on how not to be a fool with your money. 

Retiring Happy Image - 3


Regardless of how money you have in your retirement portfolio, what you don't know about what makes people happy in their retirement can hurt you. Surprisingly, money is important, but not as important as how well you can handle leisure time — and a number of other essentials.

Retirement is a double-edged sword. You either make it work for you — or it will cut your happiness in half. The more you know about the secrets to a successful retirement, the happier you will be once you retire.

That's why you must give yourself the most important retirement gift that anyone can receive:

Secrets to a Happy Retirement That

You Won't Get from Your Financial Advisor


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by Ernie J. Zelinski — All Rights Reserved
Author of The World's Best Retirement Book

 I will do today
what others won't,
so I will have
tomorrow what
others don't.
— John Addison
No organization — government or
otherwise — can take great care of you in retirement.     Organizations aren't capable of this — only  you are!
— from Life's Secret Handbook

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Surveys of seniors overwhelmingly      suggest that higher incomes don't drive satisfaction in   retirement. That said, there is a minimum
of income required to enjoy retirement.
— Dan Richards
I'm regularly asked     what my [retirement]  plan is, and I    deliberately don't have much of a plan. I've had lots of plans in my life and it might be nice to have a period      that is less planned.
— Malcolm Hamilton, Expert on Pensions 
& Retirement Planning

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