The self-made rich certainly had not behaved like the majority of society and had done different things. This can be deduced from their different destinies.
Everyone who does different things gets different results.
When we read the biography of rich people we understand that they haven’t done extraordinary things. Just a series of things we leave half-finished, they finish them. Many plans come to people’s minds and some of them are somehow practical, but almost all plans are abandoned. There are only hard working people and people who have goals that when there is no reason other than laziness to give up work, continue it and bring it to fruition. This is the only difference between the self-made rich and the rest of the people.
Poor people imitate riches when they get money?
Most people in the world are very careless in managing their money, and the first extra money they start imitating rich people blindly and they start buying things that do not help them get rich and even cost extra. For example, imagine an employee, that If he borrows extra money, even if he does not need it, he will immediately buy a higher model car and mobile phone. Do you think this person can think of being rich? This person not only does not get more comfort by buying a car, but he also has to bear the extra expenses of the car and he should always worry about this, That this capital should be preserved and doesn’t lose them in car crashes or by thiefs. Over time, the car’s depreciation also causes its quality and price to decline. The only hope he has is with rising prices and inflation in the society, his capital is preserved to some extent, while if he directs this capital more carefully, he can use it and Make a profit and also increase his capital over time.
What does a wealthy mind do with money when it earns it?
A rich mind tries to increase it by earning extra money. He invests money somewhere with reasonable risk and makes a monthly profit from it and the principle of capital also increases over time due to his rational behaviors. In the previous example, if instead of an ordinary employee we put an employee with high financial intelligence the simplest thing he can do is to buy a house or a shop with the money he gets instead of buying a car that he does not need much, or everything looks like an independent or partnership form to both benefit from the lease and preserve the original capital low risk and lack of worry about contingencies also bring add its benefits.
The only way to get surplus capital is not just to borrow
David Bach: With my method, you will definitely get rich
David Bach, a self-made American billionaire, has a very easy way to get rich that is impossible to ignore. He invites you all to an easy and useful investment that hasn’t been advertised in any newspaper. He writes in his book called “Automatic Millionaire: “If you want to get rich, all you need to do is make a decision that most people in the world do not make.”
Give yourself money at first
Bach explanes :the first thing that most people in the world do after achieving money is to give their money to someone else. To the landlord, to the car leasing company, to the telecommunication company, to the government,and, etc.the way of thinking of these people is like that fundraising is just forgiving money to others and whatever was left at the end of the year or month or for retirement is for themselves.
In rejecting this mindset, Bach says: “Because this system does not work, most Americans go to strange ways to get rich. In their view, the path of money is “Winning al-Tari”, “marrying rich people”, “inheriting” or “receiving compensation” are summed up. “But Bach wrote in his book that to get rich there is only one proven way, which is ironically the simplest of all.Until you don’t decide to give yourself money first, there is nothing that can make you rich. Bach recommends that you start by simply deducting 10% of your gross income and depositing it into your retirement account (something like life insurance)
If 10%is a lot for you and you can’t afford your life you can start from a little money but start it as soon as possible. For example, put 1% of your gross income first then, gradually increase this number to 3%, 10%,15%and 20%. Bach emphasizes that if one day you decide to do this, try to make the deposit of money to your account automatic. That way, in no time you are not used to having this money and this makes it easier for you to invest. He says: “If you find out how much money you can save with such a small amount of effort, you will make a fortune,” Whatever it is, the money that is not in your pocket, You can not spend.”
Conclusion: Obtaining capital from Bach method and investing in a safe place
With the explanations given, we come to the conclusion that one of the least risky ways to get rich is first initial savings in a limited time and then investing. It is in a low-risk place for greater profitability. Exactly when to put savings into action depends on your intelligence and investment plan. If you do this too late, the value of your capital may be lost, and if you do it too late, you may choose a plan in a hurry and don’t make a satisfactory profit.
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