Some of the best fatherly financial advice comes from the world’s most famous dads. Many of these fathers have experience earning and managing millions of dollars at a time. In honor of Father’s Day, see what some of these celebrity investors, actors and musicians have to say when it comes to the topic of money.
1. Warren Buffett
“You don’t have to swing at every pitch. When you’re ready to invest [in a stock], it looks like a fat, slow-moving ball.”
Warren Buffett once used this baseball analogy with his son Peter, illustrating that when it comes to investing, you don’t always need to hit it out of the park each time. It’s OK to pass up on some investments if they don’t suit you right now — but you’ll know for sure when one is worth swinging at.
2. Bob Marley
“Money can’t buy life.”
These were Bob Marley’s alleged last words to his son Ziggy as he laid on his deathbed, The late reggae legend knew that money can’t buy happiness either, that it must come from within.
Instead, its the goals we set in life and the pursuits we endeavor to achieve that make life worth living. If money is a part of it, we should look at it as a nice reward, but not our main objective.
3. Robert Kiyosaki
“Education is cheap. Experience is expensive.”
If you thought those student loans were costly, Robert Kiyosaki would beg to differ. Pursuing a college education means nothing if you don’t harness what you’ve learned and put it into action.
The “Rich Dad, Poor Dad” author and financial expert would encourage anyone to major in what you’re passionate about, seek out an internship, and find the right job opportunity that speaks to you. Follow your dreams, and the money will follow. Suddenly, those tuition costs will all seem worth it in the end.
4. Fred Trump
“My father didn’t give me much money, but what he did give me was a good education and the simple formula for getting wealthy: Work hard doing what you love.” — Donald Trump
It’s common knowledge that Donald Trump, one of America’s most famous businessmen and presumptive Republican party presidential nominee, was born into money. However, his father — famous real estate developer Fred Trump — taught him the value of money, instead of spoiling him with empty dollars.
Parents who instill in their children the importance of working hard, with diligence and dedication, teach a valuable lesson that a solid work ethic makes the money you earn worth more. Something we should all consider this Father’s Day.
5. Will Smith
“Money and success don’t change people; they merely amplify what is already there.”
Famous actor, producer and musician Will Smith gives a valuable lesson in learning that money can change us for the better — or for the worse. It can foster altruism and giving, or exacerbate greed and selfishness.
Ultimately, when we find some money in our hands, it’s up to us to decide what we do with it.
6. Bob Dylan
“What’s money? A man is a success if he gets up in the morning and goes to bed at night, and in between, does what he wants to do.”
Even when his words are spoken outside of a song, the enigmatic singer and songwriter manages to espouse more wisdom about money in one or two sentences than even the most financially savvy people can muster in an entire lifetime. Dylan has never been a man who places value on material wealth, and it’s likely he taught this lesson to his kids about the unimportance of financial status in the grand scheme of things.
It’s not about questioning, what is money? Rather, what is success? This Father’s Day, consider the notion that real riches aren’t measured in the money one has in the bank, but the freedom to pursue whatever one likes.
7. Dave Ramsey
“The world will try to tell you that you need stuff to be somebody. Don’t listen.”
Ramsey, one of today’s foremost financial experts, is an advocate for staying out of debt. One surefire way to go into debt is buying things you don’t need to be happy and make an impression on others.
Don’t risk going broke or into the red just to keep up with the Joneses. Your identity comes from what you make of yourself and your direction in life, not from the amount of money you show off externally. Not even the biggest bank account in the world can match that sentiment.
8. Robin Williams
Before the beloved comedian’s untimely death in August 2014, Williams had established trust funds for his three children, Zak, Zelda and Cody. While it’s not confirmed how much the trusts were valued at, Williams’ estate was estimated at $100 million, so it’s likely that he left a significant amount of money to his sons and daughter.
Although we can’t all earn that kind of money in our lifetimes, the power of compounding interest means we can set aside some funds for our families that will grow over time. That’s a lesson we can all learn this Father’s Day.
Need a student loan?Here are our top student loan lenders of 2018!
|1 Important Disclosures for CollegeAve.
College Ave Student Loans products are made available through either Firstrust Bank, member FDIC or Nationwide Bank, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.
Information advertised valid as of 11/1/2018. Variable interest rates may increase after consummation.
2 Important Disclosures for Discover.
3 Important Disclosures for Ascent.
Before taking out private student loans, you should explore and compare all financial aid alternatives, including grants, scholarships, and federal student loans and consider your future monthly payments and income. Applying with a cosigner may improve your chance of getting approved and could help you qualify for a lower interest rate. Ascent Student Loans may be funded by Richland State Bank (RSB). Ascent Student Loan products are subject to credit qualification, completion of a loan application, verification of application information and certification of loan amount by a participating school. Loan products may not be available in certain jurisdictions, and certain restrictions, limitations; and terms and conditions may apply. Ascent is a federally registered trademark of Turnstile Capital Management (TCM) and may be used by RSB under limited license. Richland State Bank is a federally registered service mark of Richland State Bank.
* Application times vary depending on the applicants ability to supply the necessary information for submission.
* The Sallie Mae partner referenced is not the creditor for these loans and is compensated by Sallie Mae for the referral of Smart Option Student Loan customers.
4 = Sallie Mae Disclaimer: Click here for important information. Terms, conditions and limitations apply.
5 Important Disclosures for PNC.
PNC Bank is one of the nation’s largest education loan providers. For over 40 years, PNC has been committed to helping students and their families make possible the adventure of college.
6 Important Disclosures for SunTrust.
Before applying for a private student loan, SunTrust recommends comparing all financial aid alternatives including grants, scholarships, and both federal and private student loans. To view and compare the available features of SunTrust private student loans, visit https://www.suntrust.com/loans/student-loans/private.
Certain restrictions and limitations may apply. SunTrust Bank reserves the right to change or discontinue this loan program without notice. Availability of all loan programs is subject to approval under the SunTrust credit policy and other criteria and may not be available in certain jurisdictions.
SunTrust Bank, Member FDIC. ©2018 SunTrust Banks, Inc. SUNTRUST, the SunTrust logo and Custom Choice Loan are trademarks of SunTrust Banks, Inc. All rights reserved.
7 Important Disclosures for LendKey.
Additional terms and conditions apply. For more details see LendKey
8 Important Disclosures for CommonBond.
A government loan is made according to rules set by the U.S. Department of Education. Government loans have fixed interest rates, meaning that the interest rate on a government loan will never go up or down.
Government loans also permit borrowers in financial trouble to use certain options, such as income-based repayment, which may help some borrowers. Depending on the type of loan that you have, the government may discharge your loan if you die or become permanently disabled.
Depending on what type of government loan that you have, you may be eligible for loan forgiveness in exchange for performing certain types of public service. If you are an active-duty service member and you obtained your government loan before you were called to active duty, you are entitled to interest rate and repayment benefits for your loan.
A private student loan is not a government loan and is not regulated by the Department of Education. A private student loan is instead regulated like other consumer loans under both state and federal law and by the terms of the promissory note with your lender.
If your private student loan has a fixed interest rate, then that rate will never go up or down. If your private student loan has a variable interest rate, then that rate will vary depending on an index rate disclosed in your application. If the interest rate on the new private student loan is less than the interest rate on your government loans, your payments will be less if you refinance.
If you don’t pay a private student loan as agreed, the lender can refer your loan to a collection agency or sue you for the unpaid amount.
Remember also that like government loans, most private loans cannot be discharged if you file bankruptcy unless you can demonstrate that repayment of the loan would cause you an undue hardship. In most bankruptcy courts, proving undue hardship is very difficult for most borrowers.
9 Important Disclosures for Citizens Bank.
Citizens Bank Disclosures
|3.94% – 12.78%1||Undergraduate, Graduate, and Parents|
|4.06% – 13.06%3||Undergraduate and Graduate|
|4.34% – 12.99%2||Undergraduate and Graduate|
|4.25% – 11.10%*,4||Undergraduate and Graduate|
|5.03% – 11.23%5||Undergraduate and Graduate|
|4.12% – 13.13%6||Undergraduate and Graduate|
|5.62% – 10.01%7||Undergraduate and Graduate|
|3.93% – 9.81%8||Undergraduate, Graduate, and Parents|
|4.26% – 12.13%9||Undergraduate, Graduate, and Parents|