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12 ideas
·9.7K reads
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100
3.56K reads
Understand that assets put money in your pocket, while liabilities take money out. Invest in assets like stocks, real estate, or businesses that generate income, rather than liabilities like cars or consumer goods that depreciate in value.
108
830 reads
Look for investments that provide ongoing cash flow, such as rental properties, dividend-paying stocks, or royalties from intellectual property. This way, your money can work for you even when you’re not actively working.
102
728 reads
Continuously educate yourself about personal finance, investing, and entrepreneurship. Read books, attend seminars, and seek out mentors who can provide valuable insights and guidance.
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659 reads
Don’t be afraid to take risks, but make sure they’re informed and calculated. If you encounter setbacks or failures, treat them as learning experiences and use them to grow and improve your financial knowledge and decision-making skills.
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558 reads
Develop a deep understanding of financial concepts such as compound interest, tax strategies, and asset allocation. The more you know about how money works, the better equipped you’ll be to make smart financial decisions.
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504 reads
Stay curious and open-minded, and always be on the lookout for new opportunities to expand your wealth-building knowledge and skills.
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502 reads
Look for ways to create value and generate income outside of traditional employment. This could involve starting a side business, freelancing, or investing in ventures that have the potential for high returns.
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464 reads
Keep track of your income and expenses, and strive to maintain a positive cash flow by maximizing income and minimizing expenses. This will help you build wealth over time and weather financial downturns more effectively.
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428 reads
Live frugally and resist the temptation to spend money on unnecessary luxuries. Instead, focus on saving and investing your money wisely to build long-term wealth and financial security.
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409 reads
Diversify your sources of income by building multiple streams, such as rental income, investment returns, or income from a side business. This will reduce your reliance on any single source of income and provide greater stability and security in the long run.
90
401 reads
IDEAS CURATED BY
CURATOR'S NOTE
Teachings for understanding and succeeding financially.
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Curious about different takes? Check out our Rich Dad, Poor Dad Summary book page to explore multiple unique summaries written by Deepstash users.
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Curious about different takes? Check out our book page to explore multiple unique summaries written by Deepstash curators:
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