In My Millionaire Neighbor, Thomas J. Stanley and William D Danko described the outcome of a study of the lives of wealthy people in the United States. In twenty years they have interviewed five hundred millionaires.
They found that these people spend less than they earn. They are not found in the prestigious suburbs, they do not have university degrees. For clothes, they do not fly to Milan in a private jet. You won’t meet them on the road in a sports car. Eighty percent are first-generation millionaires.
7 rules to get richer
In the book Rich Dad Poor Dad, American billionaire Robert Kiyosaki talks about 10 lessons his friend’s father taught him as a child.
To make sure these laws were right, Kiyosaki worked his way up from a merchant marine to a business coach and best-selling author. Donald Trump is one of the co-authors of Why We Want You to Get Rich.
First Rule
Answer the question – Why do you want to become more successful and richer today? You must give yourself a clear and precise answer to this question!
Many highly educated, hard-working, and well-paid people are not really rich. How does a person become rich who spends everything he gets?
The right motivation will help you find your way to “paradise” without tragic consequences.
Second rule
Find a mentor.
Perhaps someone you know has already gone part of the way to freedom. Ask him to be your mentor.
It’s simple: if you want to achieve something, then find someone who has already achieved it and ask him how he did it. If there are no such people in your environment, then visit places where they can be and get to know such people.
In parallel, read books on how to become rich. Many of the billionaires feel obliged to share with you the secret of success and give advice to the rich how to become rich.
And they are not driven by vanity.
Third rule
Take a look at your surroundings.
With which friends can you discuss plans for early retirement? Do the buddies listen to a real estate investing strategy or do they have other interests? Discussing how to become a successful and rich person?
If not, then it is worth reducing the time of communication with such friends. And spending more time with people who have similar interests are also eager for wealth.
Family and loved ones are your like-minded people. You just need to clearly explain to them which peaks you are going to. Rest assured they will follow you.
The Fourth Rule
How to become richer? Learn and develop.
Malcolm Forbes realized a long time ago that you can get rich off the investment advice of the rich by selling it rather than following it.
Don’t take financial advisers at their word. After all, they will still receive their commissions, whether you lose money or earn.
While you are learning and improving your financial literacy, choose a cautious strategy. Attend seminars, webinars, trainings. But treat everything you hear critically, double-check the information.
If you are an expert in any field, take a closer look at the assets put on the market by competitors. Knowledge of the state of affairs in the industry will significantly reduce the risks. Learn accounting. Read the financial information that companies whose stocks and bonds are listed on stock exchanges are required to publish.
The fifth rule
Make a financial plan.
How to become rich from scratch or even from minus? Make a plan.
Consider in your plan the strategy of a passive investor with a small initial capital (even from one thousand rubles).
The task of capital is to create a cash flow that will be directed to increase capital. So money will make money, and you will get rich.
The essence of the financial plan in three sentences:
- Determine your current financial status: your income and expenses, your assets and liabilities.
- Determine your target financial condition: the desired level of your income and expenses, your assets and liabilities, and when you want to achieve these results.
- Think about what you need to do to achieve this result.
The sixth rule
Take action and be disciplined
Getting started is an important step on the road to freedom or wealth. How will a person who has not taken the first step become rich? But it is even more important to be disciplined about what you have planned to do along the way.
How to resist spontaneous spending? Discipline comes first. It is necessary to strictly follow the plan, control the timing of payments and receipts.
Take care of the herd, because it will bring financial freedom.
Diversify your assets, keep in your portfolio only those instruments that generate cash flow and do not require funds to maintain and protect your herd.
Investments in art, gold and life insurance are not suitable for your portfolio, even if inherited. If at work they appreciated your merits and added a salary, do not rush to buy a sombrero. After all, before that, there was enough money to live on. Invest the surcharge received.
The Seventh Rule
Cultivate the habits of rich people.
Think like a rich person, not like a poor person. Study the habits of the rich and successful and develop them in your own. Here are some of the habits of rich people:
- Save money.
- Pay yourself first.
- Buy quality, not expensive.
Heroes of our days – look at the success of rich people
The French philosopher La Rochefoucauld said back in the 17th century: “Before you passionately strive for something, it’s a good idea to find out if the one who already possesses it is happy.”
The biographies of people who could climb Olympus not only from scratch, but from a minus mark are interesting. Those who were beyond despair, but managed to find the strength not to give up and finish what they started.
Chris Gardner
Coming from a poor family, Gardner served in the Navy and worked in a veterans’ hospital before an internship at the brokerage firm Dean Witter Reynolds. In 1982, he passed the exam and got a job in a brokerage firm. No one knew that while studying, Chris and his son wandered.
Chris Gardner is now a millionaire. Does charity work. In San Francisco, his foundation builds housing for the poor.
Chris Gardner winner of the “Father of the Year” award.
Raymond Kroc
Raymond Kroc (founder of the McDonald’s empire), worked as a traveling salesman until the age of 52, selling milkshake mixers. In 1952, work brought him together with the MacDonald brothers.
They were the first to develop a staffing system and equipment arrangement that allowed a visitor to order in 15 seconds. Ray Kroc bought the right to open restaurants with their name from the McDonalds. In 1955, he spent all his savings opening new eateries and training staff.
Bankers refused to lend to him, because he only sold a franchise to manage a restaurant. At a critical moment, he met Harry Sonneborn. The financier, who watched the bankers turn Cork down again, gave him an idea: to buy land for a restaurant and rent it out along with a franchise. Now the bankers were lining up to offer Kroc money. After all, he had a solid pledge.
At 81, Kroc came to the office in a wheelchair, strictly monitored the quality of the neighboring diner.
Alisher Usmanov
Co-owner of Megafon, owner of the Kommersant media holding and others. Ranks fifth on the Forbes list of Russian billionaires with a net worth of $15.2 billion.
He was charged with embezzlement. property and went to prison in 1980. He was released in 1986 on parole. The Guardian journalist Ian Cobain wrote that the editorial office of the newspaper has evidence that Usmanov was set up. Usmanov was fully rehabilitated. In 2000, the Supreme Court of Uzbekistan fully rehabilitated Usmanov, the case was considered completely fabricated.
Today Usmanov is known for his charity work.
Robert Kiyosaki
He told how he spent the night with his wife in the car after the first bankruptcy. It was then that they came up with the idea of teaching the creation of cash flow in the form of a game. He already went through his second bankruptcy on principle, not wanting to recognize the court decision in favor of the publishing house.
It was his phrase “Create a corporation. It’s only three pieces of paper.” makes entrepreneurs think about tax optimization within the law. Today, Robert Kiyosaki’s books inspire millions of people to get out of the “rat race” of life.
Conclusions
The rich and famous throughout their lives prove that wealth is quite achievable in our time. You just need to decide to take the first step in this direction.
And remember:
You need to start now.
Take the time to daydream and you will be motivated like no other.
Learn from the successful.
Talk to loved ones, make them allies.
Have a financial plan.
Be persistent.
Freedom is happiness.
