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The Definition Of A Rich Person
Someone rich is someone who has the prestige and social status that comes with living a lavish lifestyle. This definition ignores the fact that some rich people have their finances in disarray and live paycheck to paycheck or in debt.
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1.44K reads
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Characteristics Of The Wealthy
- They live in homes just large enough for their needs and drive used cars.
- They have affordable interests.
- They don’t worry about having the highest credit score possible as they have enough saved to skip loans and make large purchases with cash.
- W...
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2.09K reads
Rich And Wealthy
By making wealth your priority now, you could be both later. Establish a strong financial foundation that will give you financial security and peace of mind moving forward.
Living paycheck to paycheck is a guaranteed way not to build wealth.
If you’re...
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How To Become Wealthy
- Investing in stocks is simple if you avoid lucky stock picking. Keeping long-term perspective, invest early, especially in low-cost index funds.
- Rental properties.
- Small business ownership.
- Delaying gratifications.
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Rich Vs Wealthy
- Being rich is having the ability to spend lots of money now;
- Being wealthy is accumulating assets that allow to you preserve your money for use in the future.
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1.69K reads
On Being Wealthy
Your wealth is the value of the assets you own.
A wealthy person aims to build or acquire assets that hold their value or generate ongoing income, thus providing security and peace of mind.
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Things To Do Before Focusing On Building Wealth
- Create a budget and stick to it
- Pay off your debt – especially high-interest credit card debt
- Learn how to save money to cover unplanned expenses
- After establishing an emergency fund and becoming debt-free, go all-in on building wealth!
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"Making money is art and working is art and good business is the best art." ~ Andy Warhol
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6. Create Your Own Definition of Success
Remember that just because someone else has what you want, doesn’t mean you can’t have it too. Create your own definition of success and you’ll be less threatened by people who are striving to reach their goals.
Keep your eyes on your own path. Every minute you spen...
The 4 Hour Work Week Formula
Tim Ferriss outlines a process for escaping the 9-to-5 & living a fulfilling life:
- Define your ideal lifestyle. What do you want your life to look like? Probably it's not about being rich but sick at an old age.
- Eliminate the unnecessary. Ident...
Examining another definition
Bradberry and Kruse define leadership as a process of social influence which maximizes the efforts of others toward the achievement of a greater good. But even this definition is too narrow.
- Some leaders influence others not for the greater good: Adolf Hitler is an e...
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