What does it take to be Wealthy
Last Update: Mar 6, 2017
Wealthy people stay rich by earning money through various means. Hard work alone will not make you rich; millions of people work hard every day, they are still poor.
So what does it take to be wealthy?
1) A Healthy Lifestyle
Eating healthy food, regular exercise, having enough sleep and plenty of fresh air are what the rich people usually do. They know health plays an important role in their daily life. Imagine how much money and time you will save from medical fee and recuperating from a sickness.
2) Investment is better than spending on unnecessary things
Invest in good Shares, bonds, properties, gold and commodity. These will give you a good ROI over a period of times. Do note that certain things you spent will depreciate over time e.g. cars, jewellery, brand clothing, bags and shoes.
3) Time Investment and Training.
Working with a salary will not get you rich. However, you are the guarantee of a source of steady income monthly to cover your daily and monthly expenses at the start. Besides, you can contribute a certain percent of that money for training and self-improvement. Any fundamental knowledges will help to cut down the risk of losing money as you build up your investment portfolio later.
4) Tracking your Financial Status
Watch your finances carefully and track their net worth. Study their trend movements and financial records. Read Financial News and watch how the rich create wealth and learn from them. Spread out your Investment Portfolio wisely as some investments may not made you money.
5) Set Goals
Determine how much you wish to make in a short and long term. Visualise what you want to achieve. Be realistic and constantly working on the plan. You want to expand using the guideline of previous earning records and slowly adding more to those profitable investments. Do not over-invested and end up in great debt.
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