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Outsmart the Money Magicians: Maximize Your Net Worth by Seeing Through the Most Powerful Illusions Performed by Wall Street and the IRS

Book by Christopher Manske · 3 quotes · Finance, Wealth, Consumerism

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Outsmart the Money Magicians: Maximize Your Net Worth by Seeing Through the Most Powerful Illusions Performed by Wall Street and the IRS Quotes

“In our race to show off our wealth, we are more like a rat on a wheel consuming material goods while trying to keep up with the Jones family.”

“Money made by our own effort is limited by how much time, energy, and attention we can give to a task along with what other people will pay for us to do that task. Making money in this firsthand fashion is hard on us because we run our own personal rat race.”

“Don’t increase your lifestyle until your passive income surpasses your active income. You’ll know you can and should buy that luxury item when the cost of keeping it is totally covered by your passive income. The things you own (such as dividend-paying stocks, oil partnerships, and real estate investment trusts) should pay for the things you enjoy and consume.”