Facts the rich know, and you don’t
By admin on Apr 11, 2008 in Rich Man Common Sense
Let’s talk about a few things you could do to get into the millionaire mindset. Many of us don’t have a planned approach to life and that’s why many of you remain where you are - stuck with the force of a disease called ‘averagitis’. Making wealth isn’t rocket science and in fact it is more like mining — long, consistent, hard work and getting your hands dirty at least until you find traces of whatever you were mining for.
Listed below are a few classic principles that the rich know very well. Their lives are planned and executed around these principles and you would do well to follow them :
Wealth rewards the risk takers : There, you see that? Well, now you know why no matter how hard you worked at your lousy day job, you’d still get the same payment. In some emerging economies where the inflation hovers around 6%, you will realize that your annual increments of about 10 % is a joke since the effective rate of increase is only 4% i.e your 100 $ becomes 104$ . Impressive, I must say! There is no wealth when you work for someone else, simply because the time you are putting in here doesn’t fetch you what you would have got if you applied the principles of leverage ( basic business)
Show me the passion, take the money : Without passion, you won’t even scratch the itch of being rich! There needs to be that fire in the belly. The craving, tearing through everything else type of aggression that should be fuelling each and everything you do.
Committed, not just wanting : The rich are truly committed to their quest of making wealth. They just don’t WANT to get wealthy. They create opportunities for themselves and then apply themselves 100% towards their goals of becoming rich. Day in and day out, they do stuff that will take them that much nearer to their goals. A life long commitment, they won’t rest until this is cleared.
Slogging their pants off : Notice the truly rich and trace back to their beginnings ( na, as usual, please ignore the inheritance ducks) . what do you see? You won’t see lazy bums day-dreaming about being rich and owning cars and mansions. You will see them working like their lives were at stake and sometimes selling peanuts ; WWF stickers and posters : Pokemon game sets; dictionaries and encyclopedias or sometimes selling ideas. They wake up earlier than most people and sleep much later than everyone else does.
Money maketh more money : After a certain time, all the money earned will slog to make more money. A relentless chain of working links that will all supplement your income to take into the millionaire league. Investing in appropriate vehicles like equity, businesses and real estate will allow this to happen and that is the true leverage that we keep mentioning about. The high Interest rates in the vehicles mentioned above will do a one-up on the inflation and give you sufficient rate of return such that your money is truly making more money for you — by the power of compounding.

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