"To earn millions, you must impact millions. This... - Deepstash
Mj demarco

"To earn millions, you must impact millions. This is the Law of Effection."

MJ DEMARCO

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MORE IDEAS FROM THEBOOK

Wealth Is Not a Road, but a Road Trip

Getting wealthy is a process, not an event. For example, when you see a cooked meal, you see an event. You don’t see the process that has been completed to cook the meal. It is the same with millionaires. What you see is that they have millions, but you don’t see the process they had to go through to get it.

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Charlotte .p. gilman

"Until we see what we are we cannot take steps to become what we should be."

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Wealth-The Fastlane Roadmap

People don’t make millions because of wishful thinking. The well-known Law of Attractions does not work at all. Thinking about wealth will not make you wealthy. So, what will? Impacting millions. The more people you impact, the wealthier you will be. Think of this as the Law of Effection: The more lives you affect in an entity you control, the richer you will become.

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Lao tzu

"The journey of a thousand miles must begin with a single step."

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Your Vehicle to Wealth

Poorness comes from bad choices. Similarly, wealth comes from good choices. Choices are the steering wheel of your life. It’s not enough to be interested in something. To really get things done, one must commit and work hard toward it. It’s not enough if you are interested in e-commerce. Only commitment and hard work will provide you with results.

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The Gullible Teachers

Beware of financial gurus who teach how to get rich but did not use the same strategy to get rich themselves. Very often those financial gurus get rich only because they teach how to get rich. Also, many people don’t really understand the mechanics of getting rich, yet they perceive themselves as experts. Some send you emails to join one webinar or the other, but it's all for personal gains.

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Mj demarco

"Your biggest asset is time. Not money. People who exchange time for money do not actually have much time to really live."

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Mj demarco

"You will not become rich if you are in the consumers' group. Only the producers get rich fast."

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Mj demarco

"I'd rather live in regret of failure than in regret of never trying."

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RELATED IDEAS

Investing is not magic. Remember that ...

  • most people don't invest at all
  • 75% of new traders quit within the first 3 months. 
  • 90% of new traders quit within the first 6 months. 

If you can stick around long enough and keep learning, you will be successful at this game. Learn the basics and practice. 

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Jamie DIMON, CEO OF JP MORGAN

”Investing should be a permanent thing. Save, invest. Save, invest. Guessing at market tops, market bottoms – that is a complete loser’s game. I’ve never seen anyone win at it. The smartest investor in the world, Warren Buffett, would say that is not the way to invest.” 

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  • Create a full inventory of expenses in front of you: Categorize them into fixed and variable; urgent and non-urgent; necessities and luxury; avoidable and unavoidable.
  • You can create a hierarchy of needs and decide which one’s to address first. It’s all about prioritizing. 
  • Accept that you have limited resources and unlimited wants. But you have to manage your resources. The sooner you accept this fact, the better you can control your impulses towards avoidable expenditures.

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