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| Benjamin Graham |
I blamed myself not so much for my failure to protect myself against the disaster I had been predicting, as for having slipped into an extravagant way of life which I hadn't the temperament or capacity to enjoy. I quickly convinced myself that the true key to material happiness lay in a modest standard of living which could be achieved with little difficulty under almost all economic conditions.
~ Ben Graham
Ben Graham, of course, is the father of value investing and co-author of the most widely read investment book of all time, Security Analysis.
The quote fits in well with the first chapter of the online book discussion of Millionaire Teacher I am facilitating on my other blog. I am reminded of a lady who one time read the first 3 chapters of Millionaire Teacher and with a lilt to her voice told me, "I already know this stuff." In looking over her finances, she really didn't!
This is great wisdom. Extravagant lifestyle is way overrated.
ReplyDeleteI have always felt lucky in this regard. The things that give me pleasure are mostly low cost. Good books and being with friends aren't costly!
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