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Manizz
8 Risk You Must Take If You Wanna Be Rich
~6.2 mins read
The rich also have fear, the only thing is they do not allow it to stop them.
Believe me “Rich and successful people are not born, they are madeâ€, either you’re rich or poor, both are the result of your actions.
According to research 80% of the richest and most successful people in the world today are born poor, and they built their wealth from scratch.
Consigning that, there are common traits among the rich and successful, which includes the act of taking risks.
I’ll be sharing with you some of the risks rich people do take which year can also emulate to be successful.
DEARING THE UNFAMILIAR
For you to be successful in life you need to come out of your comfort zone, coming out of your comfort zone, is not as easy as you just read it, because you need a lot of courage to dear it.
Leaving your comfort zone is like an adventure into the forest, you’ll get across so many challenges but the more you face it, the more you grow.
I dear you get out of your comfort zone today and start that business.
ENDURING FAILURE
The only thing we see in rich and successful entrepreneurs are the freedom and wealth, but we never considered the amount of failure and rejection that they have to endure before they got there. In the book “failing forward†it was explained that the more you fail the more you get closer to your goals, because failure shows you the way not to do something, and the more you know the way things should not be done the more you have insight on how it should be done. Thomas Edison failed 10,000 time before he invented the light bulb, Steve courage failed in the business world for over 8 years and so is other successful entrepreneurs, but the general trait among them is, they never give up.
LONELINESS
You see for you to achieve significant success, you have go against the crowd, this means doing what everyone you know are not doing, and this always makes the journey to success a lonely one.
It’s is said that entrepreneurs are lone rangers because they always find themselves alone in their battles, it’s not easy to find someone to believe in you when you think big.
Remember “If you’re not losing friends, you are not progressingâ€
ADAPT TO DISCOMFORT
Before a Gold shine it has to pass through fire, before you can achieve any significant success, you have to go through hard times and you must learn to adapt to the hard times, this will make you to endure easily and never give up.
Consider an Opera Hub Creator as an example, before you can be successful as a creator on Opera, you’ll be faced with lots of challenges like rejection and low impression, indeed the journey is not easy at the start, but if you get the right motivation and adapt to the challenges, you’ll keep doing it till you succeed.
BEING SINGLE
This doesn’t mean that you can’t achieve success with a partner in your life, what I’m saying is that you must avoid toxic relationships, you must never date someone with a poor mindset or less serious person.
It’s better to stay single than to date someone who’s is not serious about life.
STARTING AGAIN
This is like saying you’re climbing a mountain and you later discovered that you’re climbing the wrong mountain, you’ll need to climb down and restart again.
Same thing in the journey of success, you’ll are prone to make a mistake which will you requires you start your journey all over again, example you’ve been selling a product for years and later discovered it’s not what the people want, you’ll have to start again and start selling what they want.
This has been a big issue for so many people in life, because they are afraid of starting again or afraid of even taking the first step to try, because they’re thinking what if it’s the wrong mountain to climb.
If you really desire success, you must learn how to always look deep into your journey and restart if necessary.
BEING REJECTED
There may be a time in your journey which you’ll need to approach people for financial assistance, and majority of them might reject you and you’ll be hurt and disappointed, but you never let that feeling discourage you from trying again and again.
This is also an obstacle to some people success in life, they often feel to ashamed to approach people for help or raise.
It’s advisable you read books about negotiation and networking, so you can build yourself on how to approach people.
BURNING YOUR BRIDGES
This is most powerful trait in all successful people, this means you focus on one activity till you succeed.
A dullard who is persistent is more guaranteed to succeed than a brilliant person who give up easily.
For to be successful in life, you must be ready to focus on one activity without looking left or right till you succeed.
Many people are poor today because they jump from pillar to polls, they start blogging this year and jump to forex next year and jump to vlog the following year, all because they fail to understand that they have to stick on a particular activity for long time till they succeed.
Always remember this eight points every day of your life.
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Manizz
9 Things To Do In Your 20s To Make You A Millionaire In Your 30s
~7.0 mins read
We can't guarantee millionaire status, but doing these things won't hurt your odds
[This article was first published in 2017]
"In a free-market economy, anyone can make as much money as they want," emphasises self-made millionaire Steve Siebold, who has studied over 1,200 of the world's wealthiest people.
And Siebold says it's never too early to start making money.
To help you reach the seven-figure mark by 30, we rounded up nine pieces of advice from people who became millionaires at a young age, as well as those who have studied hundreds of self-made millionaires.
We can't guarantee millionaire status, but doing these things won't hurt your odds.
1. Focus on earning
"In today's economic environment you cannot save your way to millionaire status," writes Grant Cardone, who went from broke and in debt at 21 to self-made millionaire by 30. "The first step is to focus on increasing your income in increments and repeating that.
"My income was $3,000 a month and nine years later it was $20,000 a month. Start following the money, and it will force you to control revenue and see opportunities."
Earning more money is often easier said than done, but most people have options. Read about 50 ways to bring in additional income, some high-paying jobs you can do on the side, how you can earn passive income, and the first step to take before starting any business, from an entrepreneur who earns up to $170,000 a month.
2. Develop multiple streams of income
One way to earn more is to increase your streams of income.
In author Thomas C. Corley's five-year study of self-made millionaires he found that many of them develop multiple streams of income: 65 per cent had three streams, 45 per cent had four streams, and 29 per cent had five or more streams.
These additional streams include real-estate rentals, stock market investments, and part-ownership in a side business.
"Three streams of income seems to be the magic number for the self-made millionaires… but the more income streams you can create in life, the more secure will your financial house be," he writes.
3. Save to invest, don't save to save
Cardone says: "The only reason to save money is to invest it. Put your saved money into secured, sacred (untouchable) accounts. Never use these accounts for anything, not even an emergency.
"This will force you to continue to follow step one (increase income). To this day, at least twice a year, I am broke because I always invest my surpluses into ventures I cannot access."
Investing is not as complicated or daunting as we make it out to be. The simplest starting point is to contribute to your 401(k) if your employer offers one, and take full advantage of your company's 401(k) match program — which is essentially free money — if it has one.
Next, consider contributing money toward a Roth IRA or traditional IRA, individual retirement accounts with different contribution limits and tax structures — which one you can use depends on your income. If you still have money left over, you can research low-cost index funds, which Warren Buffett recommends, and look into the online-investment platforms known as "robo-advisers."
The key to consistently setting aside money is to make it automatic. That way, you'll never even see the money you're contributing and you'll learn to live without it.
4. Don't show off — show up
"I didn't buy my first luxury watch or car until my businesses and investments were producing multiple secure flows of income," writes Cardone. "I was still driving a Toyota Camry when I had become a millionaire. Be known for your work ethic, not the trinkets that you buy."
Need inspiration to save more and spend less? Read up on tips and strategies from regular people who saved enough of their incomes to retire before 40.
5. Change your mindset about money
"Getting rich begins with the way you think and what you believe about making money," self-made millionaire Steve Siebold explains.
At the end of the day, "The secret has always been the same: thinking," he emphasises. "While the masses believe becoming wealthy is out of their control, rich people know that making money is really an inside job."
6. Invest in yourself
"The safest investment I've ever made is in my future," writes Tucker Hughes, who became a millionaire at 22. "Read at least 30 minutes a day, listen to relevant podcasts while driving and seek out mentors vigorously. You don't just need to be a master in your field, you need to be a well-rounded genius capable of talking about any subject whether it is financial, political or sports related. Consume knowledge like air and put your pursuit of learning above all else."
Many modern-day successful and wealthy people are voracious readers. Take Warren Buffett, for example, who estimates that 80 per cent of his working day is dedicated to reading.
7. Set goals and visualise achieving them
If you want to make more money, you have to have a clear goal and then a specific plan for how to achieve that goal. Money won't just appear — you have to work at it.
Self-made millionaire T. Harv Eker says it's possible if you have precise goals and a clear vision: "The number one reason most people don't get what they want is that they don't know what they want. Rich people are totally clear that they want: wealth."
8. Start hanging out with people you admire
Andrew Carnegie, who started with nothing before becoming the richest man in the US, credits all of his riches to one principle: the Master Mind.
The idea is to surround yourself with talented people who share your vision, because the alignment of several smart and creative minds is exponentially more powerful than just one.
Plus, we become like the people we associate with, which is why the rich tend to associate with others who are rich.
"In most cases, your net worth mirrors the level of your closest friends,"explains Siebold. "Exposure to people who are more successful than you are has the potential to expand your thinking and catapult your income. The reality is, millionaires think differently from the middle class about money, and there's much to be gained by being in their presence."
9. Shoot for $10 million, not $1 million
"The single biggest financial mistake I've made was not thinking big enough," writes Cardone.
"I encourage you to go for more than a million. There is no shortage of money on this planet, only a shortage of people thinking big enough."
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