6 LESSONS FROM THE RICHEST MAN IN BABYLON

 

6 LESSONS FROM THE RICHEST MAN IN BABYLON


1)PAY YOURSELF FIRST

        TRY TO SAVE ATLEAST 10% OF YOUR INCOME. THIS IS NECESSARY FOR A BETTER FUTURE.

2)INSURE A FUTURE INCOME

3)LIVE BELOW YOUR MEANS

4)PROTECT YOUR MONEY

      THIS MEANS DON’T LET YOUR HAND EARNED MONEY GETTING LOST.

5)MAKE MONEY WORK FOR YOU

6)INCREASE YOUR ABILITY TO EARN

 

 

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BECOME A MILLIONAIRE AT 30 BY DOING THESE 8 THINGS

BECOME A MILLIONAIRE AT 30 BY DOING THESE 8 THINGS

FOCUS ON EARNING

THE FIRST STEP IS FOCUS ON INCREASING YOUR INCOME IN INCREMENTS & REPEATING THAT.
EXAMPLE: ASK FOR RAISE & START A SIDE HUSTLE.

DEVELOP MULTIPLE STREAMS OF INCOME
65% OF MILLIONAIRES IN THOMAS CORLEY’S
STUDY HAS AT LEAST 3 STREAMS.
EXAMPLE: REAL ESTATE, INDEX FUNDS, & BUSINESS OWNER.

SAVE TO INVEST, DON’T JUST SAVE
BY INVESTING YOUR “SAVED” MONEY, YOU LIVE BELOW YOUR MEANS & FOCUS ON INCREASING YOUR INCOME.
EXAMPLE: MAKE AUTOMATIC (WHEN PAID) TRANSFERS INTO AN  S&P 500 INDEX FUND.

CHANGE YOUR MINDSET ON MONEY
GETTING RICH BEGINS WITH THE WAY YOU THINK & WHAT YOU KNOW ABOUT MAKING MONEY.
EXAMPLE: RICH PEOPLE KNOW MAKING MONEY IS AN INSIDE JOB, SO KEEP LEARNING.

INVEST IN YOURSELF
WEALTHY PEOPLE ARE VORACIOUS READERS. WARREN BUFFETT DEDICATES 80% OF BIS WORKING DAY TO READING.
EXAMPLE: READ, TAKE COURSES, HIRE A COACH & EXERCISE.

DITCH THE STEADY PAYCHECK
KEEPING JUST A STEADY PAYCHECK & YEARLY PAY RAISES IS THE SLOWEST PATH TO PROSPERIT.
EXAMPLE: WHILE WORKING 9-5, CREATE A BUSINESS, BECOME A BUSINESS PARTNER, INVEST & DIVERSIFY YOUR MONEY.

SET & VISUALIZE COMPLETING GOALS
CREATE A CLEAR GOAL & THEN A SPECIFIC PLAN FOR HOW TO ACHIEVE THAT GOAL.
EXAMPLE: COMMIT TO ATTAINING WEALTH BY WRITING DOWN & VISUALIZING YOUR GOALS.

SHOOT FOR $ 10 M, NOT $ 1M
GRANT CARDONE SAID,”THE SINGLE BIGGEST FINANCIAL MISTAKE I’VE MADE WAS NOT THINKING BIG ENOUGH.”
EXAMPLE: WHATEVER YOUR GOALS IS, INCREASE THEM 10x AS YOUR “ STRETCH GOAL”. PUSHING YOU TO WORK EVEN HARDER.
 

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WHY PEOPLE LOSE MONEY IN STOCKS

WHY PEOPLE LOSE MONEY IN STOCKS

TRYING TO GET RICH QUICK

HOLDING ONTO LOSSES, TAKING PROFITS EARLY
BLINDLY FOLLOWING THE CROWD

LACK OF KNOWLEDGE

Don’t Give up Great Things Take Time

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