The Money Mustache Community
Learning, Sharing, and Teaching => Investor Alley => Topic started by: RapmasterD on October 03, 2014, 12:41:11 PM
-
This is the personal finance columnist who returned to the Wall Street Journal a few months ago. Read this interview conducted by Vanguard. Nothing profound here for readers of the MMM Forum, but you'll appreciate his comments about money and frugality, no really you will.
LINK: https://personal.vanguard.com/us/insights/article/clements-investing-082014?SYND=RSS&Channel=AN
-
That was good.
For those that don't want to read the whole thing, here's the comment RMD was referring to:
Q: As a cyclist and runner, do you think there are any parallels between investing and endurance sports?
A: Self-discipline is clearly crucial both to managing money and to training for a sporting event. But self-discipline isn't just about keeping your head when the markets go crazy. Much more important is the self-discipline of saving regularly. Over the years, I have met thousands of everyday Americans who have amassed seven-figure portfolios—and the one attribute shared by almost all of them is that they're extremely frugal. When I was at Citi, I used to joke to the bankers that they would know a couple was wealthy if they pulled up to the branch in a second-hand Civic, wore clothes from J.C. Penney, and asked to have their parking ticket validated.