Passive income strategy
“As I grow older, I pay less attention to what men say. I just watch what they do.”
– Andrew Carnegie
Do you really want to be rich? Or have you been pretending about it? I know that’s a foolish question to ask but it is necessary that I do.
How do wealthy people think? What’s so special about the way they think that has always made their wealth to grow increasingly? By thinking like them can anyone become rich too?
If you are serious about being wealthy you will have to learn how the wealthy think. You will have to know the lingo and the language, where they eat and live, how they work and relax, how they invest and save, and what they think about money in general.
If you’ve made up your mind to be wealthy like I did, here are few questions you must ask yourself about wealthy people:
¤ What’s their value for time?
If there’s anything wealthy people value so much it is time. They understand that Life = Time. That’s to mean, if they waste their time, they are wasting their life.
The more time you save, the more money you are likely going to make. So why not save more of it?
¤ What do they think about money?
Yes! Everyone has his right to think anything about money but until you think it the way wealthy people do, the money will neither come or stay long if it ever comes. The poor thinks that money bring happiness but the rich knows it doesn’t.
Jean Paul Getty said; “money is like manure. You have to spread it around or it smells. Build wealth as a by product of your business success. If wealth is your only obective in business, you will probably fail.”
¤ What do the wealthy think about passive income strategy?
I have written an article about Passive Income Strategy here before so I wouldn’t bore you with the meaning and how to profit from it but if you are interested to know more you can search it out right here in my blog.
Few wealthy men of the 19th and early 20th century hardly believe that passive income strategy is necessary to becoming the wealthiest in life. Someone like Andrew Carnegie advices that to be wealthy you should put all your eggs in one basket and keep a strong watch over the basket while others like Warren Buffett, Aliko Dangote, Richard Branson and the rest of them believes in ‘a little on the right, a little on the left’ which simply explains passive income earning.
No one becomes wealthy doing one thing. Otherwise in time of crisis he or she will experience total meltdown economically.
¤ What do the wealthy think about networking?
The wealthy believes that no one is self-made. Everybody needs someone. Sometimes the someone you might need will be a customer, a mentor or a new business partner. Warren Buffett said; “it is better to hang out with people better than you. Pick out associates whose behaviour is better than yours and you will drift in that direction.”
¤ What do the wealthy think about buying and selling?
Just like Rich Dad rightly taught us, learning sales skills is the best choice anyone can make. J. Paul Getty and Carlos Slim Helu taught us that buying when others are selling is the best formula in becoming wealthy in life.
In buying, don’t waste your time in liabilities, go for assets. Liabilities are those ones that takes money away from you while assets are those ones that brings money in.
Based on this explanation; how many assets and liabilities are in your budget this year? If you want to think like the wealthy you must learn how to buy more assets over liabilities.
¤ What is the perception of the wealthy about failure?
An average man sees failure as a stumbling block while the wealthy or one who thinks like the wealthy sees it as another opportunity to try again. Oprah Winfrey said; “Think like a queen. A queen is not afraid to fail. Failure is another stepping stone to greatness.”
The wealthy became wealthy the day they identified the needs of the people and accepted to meet it. They do this through the Law of Potential Difference by feeding the emotions of the masses and feeding their own intelligence.
Almost all wealthy people became wealthy by first thinking it. After then came the organisation of those thoughts. So by thinking like them, reading the kind of newspapers they do and following every point I have listed above, will you become wealthy in life.
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