First, we invest now so that we may spen... by William J. Bernstein | We Heart Quotes

First, we invest now so that we may spend later. In fact, this is the essence of investing: the forbearance of immediate spending in exchange for future income. Because of the mathematics of compound interest, spending even a tiny fraction on a regular basis devastates final wealth over the long haul.

- William J. Bernstein

Other quotes by William J. Bernstein

An index fund dooms you to mediocrity? Absolutely not: It virtually guarantees you superior performance.

- William J. Bernstein

It’s human nature to find patterns where there are none and to find skill where luck is a more likely explanation.

- William J. Bernstein

The best fishing is done in the most stormy waters.

- William J. Bernstein

Market history shows that when there’s economic blue sky, future returns are low, and when the economy is on the skids, future returns are high.

- William J. Bernstein

If you’ve won the game, stop playing.

- William J. Bernstein

If you are such an individual and become upset when one of your asset classes does poorly, even when the rest of your portfolio is doing well, then you should not be managing your own money.

- William J. Bernstein

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