The Power of Habit

Wealth inspiration part 25.

image by Clker-Free-Vector-Images by pixabay

Wisdom can often come in small packages, and wisdom about building wealth is no different.

Today’s quote is from Warren Buffett, but the original quote has been attributed to both Samuel Johnson and Bertrand Russell, both celebrated British authors and philosophers:

“You can transform yourself into the person you want to be, but you have to decide early. The chains of habit are too light to be felt until they’re too heavy to be broken.”

Buffett has used this quote in speeches encouraging people to avoid destructive behavior early.

There are obvious habits to avoid like drugs, alcohol, violence, and other vices. But numerous less obvious ones concern building wealth such as:

• speculation
• short-term focus
• excessive greed
• investing in things you don’t understand well
• trying to get rich quick
• excessive risk-taking
• following the herd
• fear of missing out
• buying something because someone famous buys it
• spending everything…