My father was an engineer, inventor, businessman, and investor among many, many other things. He made a point to pass his wisdom along to me and my brother as we grew up and became men. Last month he passed away at the age of 87. It was his time to visit heaven and he passed peacefully.
This post is a tribute to his memory and a passing down of some of his wisdom. Much of which is just as valuable today as the day it first entered my ears.
I have written as if he were speaking to you.
Lessons from my father...
- I am perfectly capable of making a deal on a handshake and keeping my word but most people aren’t. Always get everything in writing, especially if someone is making a promise to you.
- There are more opportunities today than there were ten years ago, and ten years ago there were more opportunities than ten years before. It will always be like that, there will always be more opportunities for creative and visionary people. It is a matter of finding them and being inventive and committed enough to see them through to fruition.
- Rich or poor it’s always good to have money.
- Youth is wasted on the young and wisdom is wasted on the old.
- One gets rich by finding a really big pie and figuring out how to get a small piece of it.
- In hindsight everything is 20/20.
- Buy low/sell high, a higher stock price absolutely does not make a stock a better deal.
- There are always people out there who know more than you, there is always going to be inside information and insider trading in markets.
- People have an infinite ability to rationalize for their own benefit.
- The way to get rich is to have people work for you, not to work for them. That’s why I became an inventor and an entrepreneur.
- Everything in moderation.
- You don’t have a gain until you take it.
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