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Posts Tagged ‘To Build Wealth’

Advice From A Self-Made Millionaire: Treat Money Like a Jealous Lover (And Nine More Tips) [Video]

Grant Cordone, millionaire. Wonder if he owns a mansion and a yacht. Ha! Maybe that Bugs Bunny joke was too ‘old’ to get a giggle if you are under 30; but what Cordone promises you can get… is rich! To do so, Cordone says you need to get greedy, get away from get-rich-quick schemes, never give up, and be a good guy (ethical, willing to help others to succeed). That’s the gist. Here are the tips, via an Entrepreneur magazine write-up (and video above):

  1. Follow the money. You cannot save your way to millionaire status. Focus on increasing your income in increments and repeating that.
  2. Don’t show off — show up! Be known for your work ethic, not the trinkets that you buy.
  3. Save to invest, don’t save to save. The only reason to save money is to invest it. Put your saved money into secured, sacred (untouchable) accounts. Never use these accounts for anything, not even an emergency.
  4. Avoid debt that doesn’t pay you. Make it a rule that you never use debt that won’t make you money. Poor people use debt to buy things that make rich people richer.
  5. Treat money like a jealous lover. Ignore it and it will ignore you, or worse, it will leave you for someone who makes it a priority.
  6. Money doesn’t sleep. Money doesn’t know about clocks, schedules or holidays, and you shouldn’t either. Never try to be the smartest or luckiest person — just make sure you outwork everyone.
  7. Poor makes no sense. Bill Gates has said, “If you’re born poor, it’s not your mistake. But if you die poor, it is your mistake.”
  8. Get a millionaire mentor. Most of us were brought up middle class or poor and then hold ourselves to the limits and ideas of that group. Get your own personal millionaire mentor and study them.
  9. Get your money to do the heavy lifting. Investing is the Holy Grail in becoming a millionaire and you should make more money off your investments than your work. Investing is the only reason to do the other steps.
  10. Shoot for $10 million, not $1 million. Go for more than a million. There is no shortage of money on this planet, only a shortage of people thinking big enough.


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