Secrets the Rich rather not share!
And how you can use that knowledge to your advantage
The Rich have a few secrets on how they gained their fortune, grew their fortune and kept their fortune. Those secrets is not something you learn about at school(which it should though in my opinion)
In this blog I will let you in on some of those secrets and give you some suggestions on how you could start with each one of those secrets.
1. You will not get rich with just a regular job
If you are working a 9 to 5 you are trading your time for money. That sets you up for limitations on how much money you can make.
! Change that by finding ways to make money that does not depend on an hourly wage. Like building an online business where you can automate many tasks or get a rental or if you have patience start investing.
2. They pay themselves first
Before paying the bills or others a significantly part of their income is paid to them first.(which they use to invest and make more money with)
! Make it a habit to make yourself first(like add an amount to your savings or stock fund before paying your bills)
3. They have at least 7 income streams
They have found a way to make money from several income streams. So if once income stream dries out, there are still others that provide them with money
! Let's say you have a 9-to-5, start with a side hustle in your spare time. Use that money you make in your side hustle to buy a rental. Use the rent money for stocks or buy another rental. And before you know it, you have multiple income streams.
4 They build solid networks
Invest in good friends and relationships, because having a good solid network is your ticket of making more money. People are inclined to help out others that they know. If there is a position vacant make sure you are in the picture for that position. Also information is valuable and know people that are in the same line of business as you are
5. Assets assets
Rich minimize their liabilities and increase in assets that helps them create their fortune, grow it and keep it!
! Live within your means and start using your money to invest in valuable assets that will give you a regular income stream which you can use to invest in more assets.
6. Opportunities
The rich see opportunities for making money everywhere and they are not afraid to grasp that t opportunity
! Get out of your comfort zone and try new things. Expand your network and find people who have proven to be good entrepreneurs and skilled at making money. Learn from them and put that knowledge to good us. .
7. Acquire knowledge.
Invest in your knowledge to increase your mind and money making skills.
Read more books about investing, money mindset and building a business.
Tips for books
- Rich Dad Poor Dad by Robert Kiyosaki
- I will teach you to be Rich by Ramit Sethi
Start with visiting seminars and workshops and learn from the best!
Invest in yourself so you have more knowledge and your skills are worth more.
Hopefully these secrets will make sense to you and you start implementing them into your daily life.
If you want to learn more about how to make money online and build an extra income stream. I have a few ideas for you that I talked about in my other blogs!
KJ
