Monday, January 16, 2017

9 gems on how wealthy people create wealth

Kochy  tells Daily Telly readers to take a leaf out of a Wealthy People's habits if they are to become wealthy

1. Don't fear money - have a plan to reach a goal and be persistent in working towards achieving that goal. Don't get emotional about money issues. Work through them 

2. They make money for themselves . They give it a go and as a result generate there own income and assets.

3. They take smart risks - they understand the concept of no pay - no play . Whether it's growing a business or an asset portfolio - the wealthy understand the concept of taking a risk for a return - the secret is minimising the risk and maximising the return..

4 They do their homework - they research, understand their industry and "sharpen the saw". They are not emotional - if the deal doesn't make sense they walk away. They use experts and upskill regularly

5. They don't feel failure - most have been on the brink and out their assets Amon the line 

6.  They live within their means - more money comes in than goes out . They make frugal and conservative decisions and extend this principal into all aspects of their finances

7. They work really hard - rarely there is such a thing as work life balance .

8. They Drive a hard bargain - they are tough negotiators - they want the best deal and will haggle to get it. 

9. They keep their feet on the ground - they have their family and friends around them . Those who have made it are usually generous friendly people who are prepared to share their time with those they know like and trust. You can't put a value on your family and friends 

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