10 Things about Personal Finance
1. Salaries won't build wealth.
And they are not very stable. 55 million people were laid off in the pandemic.
2. Don't invest for wealth (in the stock market)
The best investors return about 10% per year. If you can do that consistently you can raise a hedge fund and make millions on the fees. That's how they all do it.
3. Come up with ten ideas a day. This doesn't seem like "personal finance" but it is.
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F) Come up with ten ideas for how two people can help each other. Introduce them and stay out of the way. This is real networking. Not fake networking where people hand business cards to strangers.
G) When you have wealth, never invest more than 2% of your wealth in any one idea.
H) Don't enter a business with a lot of competition. Enter a business with a monopoly. This means high profits, high perks, great education.
I) Read a lot about things that have nothing to do with finance. Then combine them.
J) Sleeping 8 hours a day might be the most important personal finance rule.
K) Be around people who love you and who you love. Eliminate people who bring you down.
L) Gratitude = Abundance. You can only be grateful for what is abundant in your life or what will be abundant in your life. So practice gratitude / abundance all day long.
4. Don't try to save money by not buying expensive coffee or taking subways instead of cabs. That's a myth. The best way to save money is to make more.
5. Learn how to copywrite.
6. Come up with ten ideas for how two people can help each other. Introduce them and stay out of the way. This is real networking. Not fake networking where people hand business cards to strangers.
7. Come up with ten ideas for how two people can help each other. Introduce them and stay out of the way. This is real networking. Not fake networking where people hand business cards to strangers.
8. When you have wealth, never invest more than 2% of your wealth in any one idea.
9. Don't enter a business with a lot of competition. Enter a business with a monopoly. This means high profits, high perks, great education.
10. More:
I) Read a lot about things that have nothing to do with finance. Then combine them.
J) Sleeping 8 hours a day might be the most important personal finance rule.
K) Be around people who love you and who you love. Eliminate people who bring you down.
L) Gratitude = Abundance. You can only be grateful for what is abundant in your life or what will be abundant in your life. So practice gratitude / abundance all day long.
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