Best Advice you've ever heard and followed?

Questions on how we spend our money and our time - consumer goods and services, home and vehicle, leisure and recreational activities
Trebor
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Post by Trebor » Mon Oct 19, 2009 6:01 pm

There is no such thing as a free lunch.
or
The best things in life are free.

Smile :)
TINSTAAFL

fishndoc
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Post by fishndoc » Mon Oct 19, 2009 6:02 pm

One of my senior surgery residents (a Texan) had a saying that he applied to preparing to preform an operation, but applies equally well to life in general:
"There's a snake under every bush".
" Successful investing involves doing just a few things right, and avoiding serious mistakes." - J. Bogle

pr
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Post by pr » Mon Oct 19, 2009 6:08 pm

Don't burn any bridges.

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White Coat Investor
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Post by White Coat Investor » Mon Oct 19, 2009 6:11 pm

Rick Ferri wrote:.
"The people who really want to help you do not ask for anything in return."

My father told me this when I was 17, just as I was about to do something very stupid, and I didn't do it.

Rick Ferri
I thought you said you DID join the Marines instead of the Air Force? ;)
1) Invest you must 2) Time is your friend 3) Impulse is your enemy | 4) Basic arithmetic works 5) Stick to simplicity 6) Stay the course

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jeff mc
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Post by jeff mc » Mon Oct 19, 2009 6:28 pm

you want something: cheap, fast, and good. pick 2.

i find that applies to computer applications, landscaping, shopping, car repairs, pretty much everything. we live in a world of trade-offs and limitations. (forget where i originally heard/read it, but it's a truism)

2nd thought: "get behind the counter". ok, i didn't hear that from someone, but made it up several years ago. i try to do that when talking to customer service reps, small business owners, bosses, waitresses, police ,etc. find out what motivates them, what they're trying to do/sell, what outcome they want, etc. it's disarming to have 'customers' relate to them as real people, i think. "so, how's business lately?" "getting sick of folks who ask for unreasonable, ridiculous things?" "what's your best tactic to get the sale?" i find it surprising how easily and often people open up and talk to you like a brother or neighbor, instead of the robotic typical interaction "how was everything today? save room for dessert?" type of interaction.

i guess it comes back to taylor's advice: the golden rule.

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DaleMaley
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Post by DaleMaley » Mon Oct 19, 2009 7:18 pm

First, always plot the data
---High School Math Teacher
This has saved me numerous times in both my professional and personal life.

I went to a small high school........so I had the same math teacher 3 out of 4 years of high school.
Most investors, both institutional and individual, will find that the best way to own common stocks is through an index fund that charges minimal fees. – Warren Buffett

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bcboy57
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basement

Post by bcboy57 » Mon Oct 19, 2009 7:30 pm

After I finally got done " finishing " our basement, my wife bought me a
t-shirt printed with ' measure twice, cut once ' :?

wolfbay
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Post by wolfbay » Mon Oct 19, 2009 7:42 pm

If it sounds to good to be true it probably is. Like Bernie Madoff's consistent 10% + returns for years.

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norookie
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Post by norookie » Mon Oct 19, 2009 7:43 pm

jeff mc wrote:you want something: cheap, fast, and good. pick 2.

i find that applies to computer applications, landscaping, shopping, car repairs, pretty much everything. we live in a world of trade-offs and limitations. (forget where i originally heard/read it, but it's a truism)

2nd thought: "get behind the counter". ok, i didn't hear that from someone, but made it up several years ago. i try to do that when talking to customer service reps, small business owners, bosses, waitresses, police ,etc. find out what motivates them, what they're trying to do/sell, what outcome they want, etc. it's disarming to have 'customers' relate to them as real people, i think. "so, how's business lately?" "getting sick of folks who ask for unreasonable, ridiculous things?" "what's your best tactic to get the sale?" i find it surprising how easily and often people open up and talk to you like a brother or neighbor, instead of the robotic typical interaction "how was everything today? save room for dessert?" type of interaction.

i guess it comes back to taylor's advice: the golden rule.
I've learned that too! When talking in front of those I know on the phone they ask me for tall wadeing boots because its getting deep............i used to be "_curt_" and right to MY point not considering the others helping me resolve a problem. Plus it always helps if the person is of the other sex for some reason,[wink] Great post! I think Taylors post is spot on and considerate too! I mean dealing with Joe, or John, or the generic names that are "advised" in call centers in India/or wherever,.. you get better response not acting like stupid upity american. And I mean.....really,.. wtf? BE NICE! Whats that old saying talking old sayings- "you get more flies with? JMO, be sincere and flexiable, bend with the wind or be blown over is another one.

rec7
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Post by rec7 » Mon Oct 19, 2009 7:54 pm

Is this like every rose has it's thorn?
http://www.youtube.com/watch?v=ZcqWyyHlCDA
fishndoc wrote:One of my senior surgery residents (a Texan) had a saying that he applied to preparing to preform an operation, but applies equally well to life in general:
"There's a snake under every bush".

Latecomer
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Post by Latecomer » Mon Oct 19, 2009 8:13 pm

You meet the same people on the way up...as on the way down.

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Tortoise
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Post by Tortoise » Mon Oct 19, 2009 8:20 pm

Slow and steady wins the race.

Save more than you spend.

If it looks like a duck, swims like a duck and quacks like a duck, then it probably is a duck.

Take responsibility for yourself and your actions.

And of course, the Golden Rule.

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Chas
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Re: Best Advice you've ever heard and followed?

Post by Chas » Mon Oct 19, 2009 8:50 pm

norookie wrote:My dad said "don't take anything that is not yours to take, try to pay as you go, and don't borrow anything unless you have to"- Then my mom said, "figure out what you want , then figure out how to get it"! :D You have any you'd care to share?
Both ideas from your parents was wise advice also expressed by some famous people.

"Neither a borrower nor a lender be,
For loan oft loses both itself and friend,
And borrowing dulls the knife that
would pare away excess spending." - Shakespeare

"When you set out to go someplace,
make sure you know where you're going
--- or else you might not get there." - Yogi Berra
Chas | | The course of true love never did run smooth. Shakespeare

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Chas
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Re: My dad to me about age 12

Post by Chas » Mon Oct 19, 2009 9:08 pm

Hexdump wrote:was to "be a man of my word". This coupled with a handshake was a rock solid promise of agreement.
"This above all: To thine own self be true,
And it must follow, as the night the day,
Thou canst not then be false to any man." - Shakespeare
Chas | | The course of true love never did run smooth. Shakespeare

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Chas
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Post by Chas » Mon Oct 19, 2009 9:16 pm

When I left home my mother said, "Son never eat in a place named, Mom's.

My dad said: "Son, if a man comes up to you and bets you he can make it rain in your ear and you take him up on it, you are gonna wind up with an ear full of rain."
Chas | | The course of true love never did run smooth. Shakespeare

tim1999
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Post by tim1999 » Mon Oct 19, 2009 9:37 pm

A bird in the hand is worth two in the bush.

If it sounds too good to be true, it probably is.

Don't count your chickens before they hatch.

Be yourself.

Don't be penny wise and pound foolish.

If you can't stand face to face with a man twice your size and say "no, you can't have what you're demanding/asking for" then you have no business being a landlord.

MarkNYC
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Post by MarkNYC » Mon Oct 19, 2009 9:44 pm

The biggest mistake a man can make is to sacrifice his health for any other advantage.

beardsworth
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Post by beardsworth » Mon Oct 19, 2009 9:53 pm

EmergDoc wrote:Live so they don't have to lie at your funeral.
Sounds like a variation of one of the Mark Twain aphorisms which begin various chapters in the book Puddn'head Wilson:

Let us endeavor so to live that when we come to die even the undertaker will be sorry.

Marc

Dupre
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Post by Dupre » Mon Oct 19, 2009 10:01 pm

Read Common Sense on Mutual Funds by John Bogle before you retire. Thanks! :D

Learn2earn
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Post by Learn2earn » Mon Oct 19, 2009 10:18 pm

Breaking up is alot cheaper than a divorce

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Toons
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Post by Toons » Mon Oct 19, 2009 10:22 pm

From My Mother "Eat Something,You will feel better" :D
"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee

jml39
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Post by jml39 » Mon Oct 19, 2009 10:32 pm

A word is dead when it is said, some say, I say it just begins to live that day.
—“A word is dead.”
Emily
Dickinson

yobria
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Post by yobria » Mon Oct 19, 2009 10:38 pm

Smell it before you eat it.
-Guy, 60 years my senior, in a bar in Morocco.

Stevewc
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Post by Stevewc » Mon Oct 19, 2009 10:40 pm

SP-diceman wrote:Frank Zappa:

Don't eat yellow snow.


Thanks
SP-diceman
Cause that's where the huskies go !!!

Now complete,
Steve
Ladies and Gentiles | Monkeys and Reptiles | I come before ya, to stand behind ya, tell you something I know nothing about !!!

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windhog
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Post by windhog » Tue Oct 20, 2009 12:52 am

A good friend in college pointed out that people are the most dogmatic about the things of which they are least certain.

Paul

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Tortoise
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Post by Tortoise » Tue Oct 20, 2009 1:25 am

Two that I learned while working on a farm back in high school, that have served me well as an engineer:

K.I.S.S. (Keep it simple, Stupid)

Murphy's Law -- Anything that can go wrong will go wrong -- is real, so be prepared.

notPatience
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Post by notPatience » Tue Oct 20, 2009 1:41 am

Two from my Dad:

The trouble with trouble is it starts out being fun.

There is no logic in volume. (Amazing how often this applies to TV financial shows.)

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NightOwl
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Post by NightOwl » Tue Oct 20, 2009 1:47 am

My personal number one, by far the best aphoristic advice I've ever received, courtesy of a friend:

"Handle your business. Don't let your business handle you."

This is what I say to myself when I really want to put off an unpleasant task and know I can't.

Second place goes to my Dad, who once chased a fat groundhog across an open field to the delight of my sister and me, only to slow up when he obviously could have caught it. His explanation:

"Don't chase something you're not sure you want to catch."

I'm not sure he intended that as sage life advice, but it has certainly stuck with me, and bailed me out on a number of occasions.

Third place, edited: "If you want to stop being criticized, stop [effing] up."

NightOwl
"Volatility provokes the constant dread that some investors know more than we do, making us fearful of ignoring such powerful price movements." | Peter Bernstein, "The 60/40 Solution."

Eureka
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Post by Eureka » Tue Oct 20, 2009 2:43 am

From my dad: Pay cash for everything, including cars and houses (couldn't quite do the house).

Don't try to match the apparent lifestyle of people who have no actual wealth.

Get a job where you don't have to deal with the public.

From my mom: If you act like a rug, people will walk all over you.

From Woody Allen: Eighty percent of success is showing up.

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Dinero
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Post by Dinero » Tue Oct 20, 2009 5:32 am

"Mind own business"

"Always cut cards"

Robert Heinlein in The Moon is a Harsh Mistress

Patchy Groundfog
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Post by Patchy Groundfog » Tue Oct 20, 2009 7:01 am

Toons wrote:From My Mother "Eat Something,You will feel better" :D
There's some wonderful advice on this thread, but this is the one I will take to heart and try to live by from now on!
The best things in life aren't things.

savermike
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Post by savermike » Tue Oct 20, 2009 7:39 am

"You should marry me"

Mike

Grt2bOutdoors
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Post by Grt2bOutdoors » Tue Oct 20, 2009 8:00 am

1) Be Honest - Treat people the way you want to be treated.
2) Your word is your bond.
3) Actions speak louder than words. If you talk the talk, you'd better walk the walk.
4) Sleep with two pillows under your head. In other words, diversify your assets and sleep with no worries.
5) Pay yourself first.
6) This one a teacher told me a long time ago, I think it's fitting for today's times: "If you don't have what you like, like what you have"
7) Don't BS people, it will come back to bite you one day.
8) What you do for you, you do for yourself, no one else is going to do it.
9) There is no free lunch.
10) Knowledge is something that can never be taken away.

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epicahab
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Post by epicahab » Tue Oct 20, 2009 8:40 am

My grandpa: "Moderation in everything."

Globalviewer58
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Post by Globalviewer58 » Tue Oct 20, 2009 9:11 am

TANSTAAFL: There ain't no such thing as a free lunch. Make sure what you buy is worth the price.

Analystic
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Post by Analystic » Tue Oct 20, 2009 9:53 am

"Be kind." - Dad

"Always tax shelter the maximum and don't change wives too often." JKT

"Ask for help BEFORE you get into trouble." JBA
Disclaimer: I am making all of this up.

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VictoriaF
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Post by VictoriaF » Tue Oct 20, 2009 12:54 pm

Black Swans happen. (Nassim Nicholas Taleb)

Ron
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Post by Ron » Tue Oct 20, 2009 1:53 pm

VictoriaF wrote:Black Swans happen. (Nassim Nicholas Taleb)
And sometimes, they are quite common, as in Australia (as quoted from Ron) :lol: ...

http://en.wikipedia.org/wiki/Black_Swan

Sometimes what you think is unusual is not, taken in a different context/view....

- Ron

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VictoriaF
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Post by VictoriaF » Tue Oct 20, 2009 5:38 pm

Ron wrote:
VictoriaF wrote:Black Swans happen. (Nassim Nicholas Taleb)
And sometimes, they are quite common, as in Australia (as quoted from Ron) :lol: ...

http://en.wikipedia.org/wiki/Black_Swan

Sometimes what you think is unusual is not, taken in a different context/view....

- Ron
Ron,

Of course, you are right. But your reference also supports another Taleb's major postulate, i.e., that after the fact, Black Swans seem trivial. We have a tremendous capacity to forget how we thought before a monumental event and are destined to repeat the same mistakes again.

Victoria
WINNER of the 2015 Boglehead Contest. | Every joke has a bit of a joke. ... The rest is the truth. (Marat F)

Ruben1898
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Post by Ruben1898 » Tue Oct 20, 2009 5:43 pm

My grandmother used to say to my aunt and I say to my daughter:

"There's no reason to buy the cow as long as the milk is free".

david99
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Post by david99 » Tue Oct 20, 2009 8:30 pm

Someone once told me that, "Extremes are usually not too healthy. Better to have some balance in most things we do." Balance work/play, balanced portfolio...

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auntie
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Post by auntie » Tue Oct 20, 2009 9:11 pm

My mother:

When in doubt, don't.

SteveB3005
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Post by SteveB3005 » Tue Oct 20, 2009 10:44 pm

Tony Soprano:

"Can't put shit back in the donkey."

slick_dealer_05
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Post by slick_dealer_05 » Tue Oct 20, 2009 11:04 pm

There is no short cut to success.

Never trust your relatives with investments.

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DaleMaley
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Post by DaleMaley » Wed Oct 21, 2009 4:59 am

If you get something out, put it away.
--My father in reference to tools
If something can go wrong, it probably will.
--Murphy's Law
80% of effect is caused by 20% of the inputs.
--Pareto's Law
20% of the people will have 80% of the income or wealth.
--Pareto's Law
Always conduct yourself and make decisions that will be upheld by a jury of common citizens.
Most investors, both institutional and individual, will find that the best way to own common stocks is through an index fund that charges minimal fees. – Warren Buffett

rockbottom
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Post by rockbottom » Wed Oct 21, 2009 5:43 am

Don't ever spend money you don't have. (from my grandparents)

One good measurement is worth a thousand educated guesses. (cranky high school physics teacher)

一分錢一分貨 "one unit of money buys one unit of goods" ~ there are no discounts where quality is concerned, you get only what you pay for (from my wife)

Most people are lazier and less confident than they seem. (source forgotten)

Appearances are more influential than reality. (source forgotten)

rockbottom
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Post by rockbottom » Wed Oct 21, 2009 5:51 am

Don't trust your own judgment first thing in the morning. (original)

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DartThrower
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Post by DartThrower » Wed Oct 21, 2009 4:26 pm

From my dad sometime around 1975: "Learn computers"
A Boglehead can stay the course longer than the market can stay irrational.

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Rick Ferri
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Post by Rick Ferri » Wed Oct 21, 2009 6:36 pm

EmergDoc wrote:
Rick Ferri wrote:.
"The people who really want to help you do not ask for anything in return."

My father told me this when I was 17, just as I was about to do something very stupid, and I didn't do it.

Rick Ferri
I thought you said you DID join the Marines instead of the Air Force? ;)
I waited until I finished college so that I could go in as an officer! BTW, the Air Force was my fall back if I did not get in the MARINES.

LynnC
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Post by LynnC » Wed Oct 21, 2009 7:10 pm

rokid wrote:
LynnC wrote:No such thing as a free lunch.
What about the G Fund? :lol: -----Jim
What am I missing here? Racking my brain for G fund and hidden meaning? hmmmmm

LynnC

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