Imagine you and three friends want to take vacation together. You discuss different places you could go, you suggest a camping trip up in the mountains, another person suggest a four day trip to Carribean at a beach resort. Needless to say the camping trip is a far cheaper option, you already have most the … Continue reading Paying Your Fair Share
Wealthy people own assets that growing in value without any additional work. Wealthy people have skills that generate high rates of income, poor people have skills that generate low incomes. Wealthy can afford to take risks that pay off long term, poor people much focus on immediate returns. Wealthy people know wealthy people, poor people … Continue reading What reasons make the rich richer and the poor poorer?
Some people have valuable skills and knowledge that because increasingly profitable. Others have skills (or lack there off) that become commoditized and less valuable. To become wealthy, whether you are a person or organization, you need something valuable that can grow. This can be a skill, system, brand, patent, real estate, or anything that can … Continue reading What makes the rich richer and the poor poorer?
A lot. Believe it or not, most people hold on to their money tightly. To become a millionaire, you need to provide millions of dollars of value to a lot of people. This takes time. Regardless of what field you are in, how smart you are or how hard you work, convincing people to give … Continue reading How much dedication does it take to become a millionaire?
Most people in the US have little or no money saved when they turn 40. Most people in their thirties today are still paying off student loans, have giant mortgages and a lifestyle they can’t afford. Becoming wealthy isn’t about how much money you have today though, it is about your ability to make money. … Continue reading You can become a success after 40.
They delay gratification. This is the main difference between people who are wealthy versus people who are not. Being able to delay gratification has been one of the greatest predictors of someones likelihood to become wealthy. This is because throughout your life, you care given opportunities to invest something now and get a larger return … Continue reading What do wealthy people do that poor people don’t?
It’s absolutely true that wealthy people have multiple streams of income. Some would even argue that the definition of being wealthy is having multiple streams of income that are on some level passive and sustainable long term. There are obviously substantially different types of was to generate income, they all fall on a spectrum. Most … Continue reading If wealthy people have multiple forms of income, how do you do that when you are struggling financially?
I can’t speak for everyone, I can only speak for myself. I do. I don’t try to make money all the time, I don’t solicit my friends and family to buy things from me or invest. I don’t try to take advantage of situations where it would be inappropriate to seek a profit. I don’t … Continue reading Do entrepreneurs look for ways to make money in every aspect of life?
At times in my life, I’ve been in positions where I’ve worried constantly about saving money. I’ve also been in situations where I had more than enough cash to go around with little to worry about. In my experience there has only been one thing that has ever alleviated the stress of my finances (I’m … Continue reading What is the best money saving tip?
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