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The six laws of wealth

 

The six laws of wealth

 

 

The six laws of wealth

 

 

 

Okay, from a guy who hasn’t had enough money to buy a postage stamp, to creating millions of dollars, let me give you my two cents (my 6 laws of wealth).

 

 

1. Do not worry about what other people think.

Just this one thing causes us to buy fancy cars, the big house, or take out loans to attend the most expensive schools. It causes us to doubt our ideas, and decreases our confidence.

 

Do your best to be confident in yourself, and your decisions. It’s okay to drive an old car, live in a small house, or go to a college you can afford - or maybe not go to college at all.

 

Worrying about the opinions of others caused me so much grief and frustration in my early years. Now, I don’t care, but I sure did when I was younger.

 

Concerning yourself with what others think, will do nothing but cause you worry, stress, and unhappiness.

 

2. Surround yourself with happy, positive, outgoing people.

I’ve been around the most negative people a good part of my life (a lot of family members), and it’s been nothing short of horrible. I’m tough, or I thought I was - I thought I could bounce that negativity like bullets against a force field. But, in reality, when I look back, my life completely sucked at certain points, and it was caused by all those nasty, negative people I was around. I sure didn’t realize it though, how bad it was, or how much I was being influenced, until I made the decision to quit, and search out those people that love life, the types that think anything is possible.

 

Stay very aware of your environment. Take notice, do you feel good or bad when you’re around certain people? I cannot overstate this enough, you absolutely must limit your time around people that are negative, and just tend to suck the life out of you.

 

Happy people, that’s what you want. Search them out, your future depends on it.

 

3. Be careful, very careful, as to who you choose for a spouse.

Oh, this one is so important! This kind of goes in with surrounding yourself with happy, positive, outgoing people. If you choose the wrong person to marry, to spend your life with, and the two of you do not have similar goals, or ways of looking at life, you are creating a life of torture.

 

That’s me, I did it. I married a person out of guilt. We had about zero in common, but I was young and dumb, and didn’t realize what I was doing to my future. Here I am, Mr. Entrepreneur, Mr. Real Estate, and marrying someone that didn’t care once ounce about those things.

 

So, I’m a person who puts their family first, and success and money second. What do you do your spouse doesn’t agree with anything you’re doing? What do you do when they threaten you at every turn, to divorce, and take your family? When I try to help other people because that’s just the way I am, and get told I’m an idiot, what do I do? How do I create wealth, when my spouse wants to spend every single dollar now?

 

It’s not her fault, it’s mine. I was not confident enough to believe in myself, to believe in my “gut.” I knew it wasn’t right from day one, but I did it anyway.

 

Anyway, you can see that I created my own misery by not waiting for the right person. Do not settle, I beg you. I’m not kidding, success can be 1,000 times more difficult when you’re with the wrong person.

 

4. Be confident, be proud of who you are, and just plain love yourself.

Confidence, it sounds so easy, but it’s extraordinarily difficult. When you have an excellent idea, but have to bounce it off of others, and then get discouraged because they don’t agree, all you are doing is wasting your life.

 

I’ve been there, always trying to find someone to agree with me, to say, “Your awesome, I know you can do it, go for it!” It took me decades to get out of the mindset that I always need approval, before moving forward on an idea or project.

 

This sounds strange, but I literally have to do things like: Sing out loud in the mall, dance in the street, or go to a party, and introduce myself to everyone in the room. That’s all heart palpitating, and makes me about choke, but doing those things that are out of the norm, builds confidence.

 

Have you ever noticed that many of the people that are rich and famous, are kind of weird? They do things that are strange, and everyone loves it - that’s why they are famous. So, however you need to do it, work on building your confidence, it’s extremely important.

 

5. Stay out of debt, personal debt.

I was raised in a poor family, we never really had anything when I was growing up. We had old cars, ugly furniture, and never took any awesome vacations. So, when I got older, like in my late teens/early 20s, I started buying everything I ever wanted. The bad thing, I did it on credit. It didn’t dawn on me that the reason I couldn’t start a business, or buy the properties I wanted, was because I was spending all my income on nice cars and credit card payments.

 

Now, I’m a debt-free weirdo, but back in my younger days, I was not the most intelligent when it came to finances. Pay off all that debt, sell the cars, the big house, and get yourself to a debt-free position. You’ll be amazed at the freedom you’ll experience, and how easy it is to make good decisions.

 

By the way, when I mention debt-free, this is on a personal level. Regarding business, including real estate, I think it’s okay, if you think it through. But, always have every business, and property, in it’s own entity (like an LLC), just in case things go bad. Never, and I mean never, personally guarantee a business loan. You want the asset to be the security. If you cannot pay for whatever reason (like a recession), then the lender gets the asset back to sell. Personal debt though, say “No.”

 

6. Tear the lid off of your limiting beliefs.

Do you believe that you can make $50,000 per year? How about $500,000 per year? $10,000,000 per year? $1 Billion?

 

We are taught from the time we are toddlers, what is, and what is not possible. The people teaching us? They are our parents, school teachers, and other well-meaning individuals that just do not know any better. We’ve been brainwashed into limiting our creativity, without even knowing that it’s been done.

 

We spend our time in school studying, memorizing, and taking tests. Our youth should be spent creating, and brainstorming with others. We’re taught to get good grades, go to a good college, get a good job, save for retirement, and then what? That’s a good question. Maybe we’ll live the good life when we get that second chance — not going to happen.

 

Many of our most well-known entrepreneurs dropped out of college, or never went at all. Why is that? They see opportunities, ignored “what they were supposed to do,” and went for it.

 

School teaches us to think in the box, to be trained to work for the entrepreneurs just mentioned. Many of these “crazy” entrepreneurs are completely changing the way we live. What are their limiting beliefs? I’m not sure they have any. But most of us sure do. We believe that we need a boss to tell us how much we can make for the year. We believe that it’s okay for someone else to tell us when we can go on vacation. We believe that we need a university to admit us, so they can force-feed us their ideas and opinions. We let ourselves be controlled by those around us.

 

Our beliefs are formed by what we “think” is possible (our mindset). I’ve always wondered, as adults, if we could wipe our memories clear, and didn’t know anything about anything, and were starting with a clean slate, what could we accomplish?

 

Analyze yourself. When you make decisions, ask yourself why you’re choosing one way over another. When you drive to work, ask yourself what is the purpose? When you have ideas about life, about vacations, about businesses, about anything, what keeps you from acting on those ideas?

 

It’s limiting beliefs that you’ve been taught. Step out, take chances, throw those beliefs into the wind, and you’ll be amazed at what you can accomplish.

 

Final Thoughts: Wealth is actually much easier than most of us realize. The problem is that we make it difficult. If we would just focus on staying in control, and keeping life simple, it would all happen so easily.

 

Ref : https://www.quora.com/What-are-the-six-laws-of-wealth

 

 


 

The six laws of wealth

The six laws of wealth

The six laws of wealth

 

 

The six laws of wealth

 

The six laws of wealth

 

The six laws of wealth

 

The six laws of wealth

 

 

 

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Categories : Finance    Themes : Wisdom
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