Did you learn how do people become rich in school?
In school, you have learned, like a Pavlov dog, how to become a good citizen, a good worker but you didn’t learn how to get rich and reach financial freedom!
Did you learn how to become rich from your parents?
Your parents have been hard workers all their life. They told you to go to school and get a degree and then to find a great paying job in a big corporation. But, they didn’t have the tools to teach you how to become rich simply because they didn’t know how to make it happen. They also didn’t know how society would evolve!
Did you learn how people do become rich in front of your big flat-screen TV?
Medias are filled with crappy information meant to make you believe that becoming rich is easy and that it could happen to anyone making an app or a videoclip on YouTube.
So…From who could you learn how do people become rich and how to become rich yourself?
Why not simply study the riches and do like them!
What do the riches do to get rich anyway?
Rich people are disciplined, they have a very different vision and approach of life than poor people. They have the gut to ask and take. They take problems in charge and become problem-solvers. They take calculated risks. They plan their life and take actions. They know how to use the tools offered by capitalism for their own profit.
While poor people work for a salary, rich people use more efficient ways to generate passive income. They know and understand how prices are fixed and why we should always negotiates. They don’t let money on the table for someone else to take… they take it!
7 principles riches follow while poor don’t
Control what you can control
“Rich people have a way of thinking that is different from poor people. They don’t let life or others rule their life. They follow their own path and take control over everything they can control in their life and accept that some things are totally beyong their control.”
Save a lot
“Most rich people have started to save at least 30% of their paycheck early in their life. They invest these savings in property…”
Be a good negotiator
“Rich people try to never pay the full or asked price. They negotiate and think before spending their hard-earned money…”
No to debts
“Rich people avoid debts. And if they don’t have a choice, then they focus on refunding these debts as soon as possible. If they have debts, they are usually tied to an asset as a financial lever to boost their wealth…”
“Rich people don’t work in exchange of a salary. They instead work toward creating themselves multiples sources of passive income or cash-cows and they know how to effectively use leverage to increase their passive income…”
The power of owning a corporation
“Rich people understand that the corporation business model offers a great advantage over the statute of a salaried worker because a corporation pays many of its expenses with before-tax income! They also can be eligible for subventions…”
Plan the future
“Rich people don’t let their future in the hand of luck. They know what to do, how to do it and take actions because a good idea is only good if it gives the expected results…”
Now think about what you could accomplish if you would apply all these principles everyday.
Rich people think outside of the box. They don’t follow the crowd. If you follow the crowd then you’ll be part of it.
It took me a while to understand that. I now have a steady source of passive dividend income bringing me more than a 100$ per month. It is not a lot yet but hey… that’s income that wasn’t there a year ago and it will compound!
Einstein was right!
There’s a rumor that Einstein would have said that doing the same thing over and over again and expecting different results is called insanity.
So, if what you’re doing right now is not making you wealthier than it may be time for a change.
Check my Getting started with dividend growth investing page!
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