July 16, 2022, 08:08 | Business
Things the rich do differently.
Everyone wants to know what "secrets" rich people have – thanks to which they created their huge fortunes, informs Ukr.Media.
Must be that they know something that we don't know?
In today's article, we will talk about things that the rich do in a completely different way than the average person. They were the reason for the rapid growth of their well-being. It's possible that you can 'wrap around' some of this to maximize your income and wealth.
Most people think that high income leads to wealth
This is how they fall into the trap called “work – home – work”. In such cases, they have twice as much work, and there is practically no free time for their family and their own lives.
The question arises: why do you need money if the children do not see their parents, and parents of their children? And the earned money goes directly to the treatment of earned sores.
Rich people perfectly understand that their money should work instead of them. And they do not deviate from this rule by actively investing and buying income assets.
Real estate is not such a profitable investment of money
If you buy a large apartment or country house, it is very good for your family.
But for your financial well-being, it is very bad because the money is 'frozen'. in concrete and stop working for you.
Rich people know very well that rental real estate (that is, one that can work and bring income) leads to wealth. You can own real estate in completely different ways: you can live in it (as most people do), or you can make money from it.
Wealthy people rarely sell their investments
But they very often invest by buying new income assets.
While people with below-average incomes prefer not to invest at all, or do it in a rather strange way. In particular, they buy stocks when they are quoted at the very top of the market, and then sell them in a panic (when the stock market collapses on bad news).
Rich people consistently form their investment portfolio, which they plan to hold for a very, very long time (to receive dividends).
If they suddenly need money urgently, they take a loan against their investments – but do not sell them!
Rich people have a strategic plan
Rich people clearly understand that everything good in life comes from long-term planning.
Low-income people usually , live "one day". The most they can think about in advance is where they will spend their next vacation.