Just Keep Buying Quotes

“So, in order to know when you can retire, you need to figure out what you will retire to.”
― Nick Maggiulli, Just Keep Buying: Proven ways to save money and build your wealth

“To build wealth it didn’t matter when you bought U.S. stocks, just that you bought them and kept buying them. It didn’t matter if valuations were high or low. It didn’t matter if you were in a bull market or a bear market. All that mattered was that you kept buying.”
― Nick Maggiulli, Just Keep Buying: Proven ways to save money and build your wealth

“One of Jay’s key insights was that not everyone learned like he did: “The biggest mistake is for an instructor to teach exactly the way he was taught. Once a teacher said to me”
― Nick Maggiulli, Just Keep Buying: Proven ways to save money and build your wealth

“One of the biggest worries for new retirees is that they will run out of money. In fact, there is overwhelming evidence that the opposite seems to be happening—retirees aren’t spending enough. As researchers at Texas Tech University stated, “Rather than spending down savings during retirement, many studies have found that the value of retirees’ financial assets held steady or even increased over time.”11 The authors demonstrated that this occurs because many retirees don’t spend more than their annual income from Social Security, pensions, and their investments. As a result, they never sell down the principal on their investments portfolios and, therefore, typically see their wealth increase over time. This is also true despite required minimum distribution rules (RMDs) that force retirees to sell down a portion of their assets. As the researchers concluded, “[this] is evidence that retirees take required distributions and reinvest them in other financial assets.” What percentage of retirees do sell down their assets in a given year? It’s only about one in seven. As the Investments & Wealth Institute reported, “Across all wealth levels, 58 percent of retirees withdraw less than their investments earn, 26 percent withdraw up to the amount the portfolio earns, and 14 percent are drawing down principal.”12 The end result of this behavior is lots of money left to heirs. According to a study by United Income, “The average retired adult who dies in their 60s leaves behind $296k in net wealth, $313k in their 70s, $315k in their 80s, and $238k in their 90s.”13 This data suggests that the fear of running out of money in retirement is a bigger threat to retirees than actually running out of money. Of course, it is possible that future retirees will have far less wealth and income than current retirees, but the data doesn’t seem to support this either. For example, based on wealth statistics from the Federal Reserve, millennials had roughly the same per capita wealth as Generation X, who had roughly the same per capita wealth as baby boomers at the same age and after adjusting for inflation.14”
― Nick Maggiulli, Just Keep Buying: Proven ways to save money and build your wealth

“As Aristotle once said, “Those who know, do. Those that understand, teach.”
― Nick Maggiulli, Just Keep Buying: Proven ways to save money and build your wealth

“We begin our lives as growth stocks, but end our lives as value stocks.”
― Nick Maggiulli, Just Keep Buying: Proven ways to save money and build your wealth

“Jeremy Siegel, the famed financial author, summarized it best when he wrote: “Fear has a greater grasp on human action than does the impressive weight of historical evidence.”
― Nick Maggiulli, Just Keep Buying: Proven ways to save money and build your wealth

“To save for your future self. To preserve your money against inflation. To replace your human capital with financial capital.”
― Nick Maggiulli, Just Keep Buying: Proven ways to save money and build your wealth

“If you want to save more, the main point is to tighten up where you can, then focus on increasing your income.”
― Nick Maggiulli, Just Keep Buying: Proven ways to save money and build your wealth

“Those who know, do. Those that understand, teach.”
― Nick Maggiulli, Just Keep Buying: Proven ways to save money and build your wealth