Learning Stuff About ‘Wealth & Success’ Category
I recently read the book Outliers, The Story of Success by Malcolm Gladwell. This is the same author who wrote The Tipping Point. I thoroughly enjoyed reading Outliers. There are a number of intriguing points made. This will probably be a series of posts where I will try to relay some of what I learnt from reading this book.
This is Sullivan’s law #2. This essentially means learning from experiences. It is possible to have many experiences yet learn very little. If we do not consciously think about what worked and what didn’t in the given situation or event, then we run a very big risk of losing out on the great opportunity for growth, and of course quite likely repeating the same mistakes multiple times.
A few years ago I bought and read the book, The Laws of Lifetime Growth, by Dan Sullivan. As the title would suggest, it is about personal growth.Â The book advocates 10 laws. In this brief post, which will the first of a series, I will highlight the first one.
I recently read the book The Richest Man in Babylon. I had seen it around and heard of it before, but just never bothered to make an effort to acquire it. Oh how I wish I had read it years ago!
If you have read the article, So You Want to be a Millionaire? you would have seen how becoming a millionaire can be achieved in relatively simple fashion. The drawback is that it could take 20 to 30 years. In this article, we want to start focusing on reducing this timeframe. Read the rest of Multiple Income Streams »
Give back to the community
Now that your mind is set on the millionaire path and you have a plan in place, allocate some portion of your funds for a charitable cause. Demonstrate confidence in your fortune to come Read the rest of Give Back To The Community »
Eliminate Bad Debts
There are some debts that are terrible, and some that actually result in profit. Read the rest of Eliminate Credit Card And Other Bad Debt »
Buy a Home?
The heading is phrased as a question rather than an advice statement, because there is a debate about whether this is really a good idea. It is pretty much agreed that owning a home is a good thing, but the question is, at what point is it best to do this Read the rest of Buy A Home? »
Build a reserve
Now that you are saving, you need to have some targets. Maybe you want to buy a car, and/or a house. You need to plan for these things. How much do you want to pay upfront, and how much are you willing to borrow? Read the rest of Build A Reserve Fund »
One of the regular problems with a good plan, is getting it implemented. It is good to put away a portion of your income to a retirement fund. It is good to save. But human nature being as it is, causes the plan to abort, if not before it even gets started, then probably in the very early stages. Most people just don’t have the discipline required to carry out something positive on a regular basis, for extended periods.
The good news is Read the rest of Automate The Millionaire Plan »
If you’ve read any of Robert Kiyosaki’s books, or other books on acquiring wealth, you’ve probably heard this phrase before. There’s one guy, who when first encountered it, used to wonder how practical this was. That’s because he did not understand the meaning. He would reason that if he paid himself first, then tried to take care of the bills, then there might not be enough. Or, he would have to pay himself only what he knows he would have remaining after all expenses got taken care of, and in which case, it wouldn’t matter whether he paid himself, or the bills first. Read the rest of Pay Yourself First! »
That sounds simple, and probably too simplistic for some. But do not overlook it! Consider how much saving $100 a month will impact your monetary value in 20 to 30 years time. Read the rest of Save And Become A Millionaire »
For many people, the idea of becoming a millionaire, triggers thoughts of all sorts of get rich quick schemes and scams, or maybe winning the lottery.
Naturally, one would rather be rich sooner than later. But how would you feel if you spent your time pursuing these quick fixes, only to reach retirement age with little or nothing to show for it? Read the rest of So You Want To Be A Millionaire? – Introduction »
The term wealth indicates great value. But how should this be measured? Is financial worth the only measure? Is it even the most important? To answer these questions, let us consider the following cases. Read the rest of What Is True Wealth? »