We've all heard stories of lottery winners, rock stars, heirs and heiresses, and professional athletes becoming millionaire morons who wake up rich but are broke by nightfall.

As a bull market turns into a bear market, the new pros turn into optimists, hoping and praying the bear market will become a bull and save them. But as the market remains bearish, the optimists become pessimists, quit the profession, and return to their day jobs. This is when the real professional investors re-enter the market.

The rich continue to get rich the same way they always have - by understanding how money works and making their money work for them.

I want parents to teach that academic intelligence is essential, but so is financial intelligence.

Typically in a panic, corporate bonds sell off as investors fear weaker growth, tighter financial conditions, or need liquidity.

Money can't buy poverty.

Even I have been at that point in my life where I thought I didn't have enough extra money laying around to start investing in stocks for my own retirement plans.

You can't get rid of poverty by giving people money.