Get it wrong first to get it right –
Most of the millionaires today, had to look stupid for a long time before they finally got it right.
But they eventually got it right.
The only way you’ll start getting things right is by
- Trying
- Failing
- Experimenting
- Failing, and learning.
The problem is, most people are afraid to separate from the crowd.
To live life on their terms.
It’s difficult, embarrassing
What will people say?
It’s not a nice feeling.
My advice forget "NICE", go for "GREAT".
Adopting a money mindset is not just about earning and saving money.
It’s a shift from the regular average “acceptable” mindset to a growth mindset.
Thinking different got Jeff Bezos and Elon Musk where they are.
As a personal finance professional, I am expected to give my clients the same old advice
· Save your money
· Get a good job with a good pay check
· Diversify your portfolio
· Be frugal
· Don’t take big financial risks
· Your home is your biggest asset
· Pay off your credit card every month
I expect everyone knows this.
So though most of the above ideas are definitely to be followed, ensure to include the following suggestions to scale new heights -
1. Do not follow the crowd
Look around. Most people are in debt. Most people overspend. Most people struggle with fitness. Most people waste time.
Why follow most people’s advice or actions? Get an expert to give you the right advice.
Like Mark Twain said
“Whenever you find yourself on the side of the majority, it is time to pause and reflect.”
2. Embrace criticism with a smile, not just praise
Criticism is inherent in any process where truly big goals are on the line.
If you want to be WEALTHY, stop running from criticism.
Start embracing it, realizing it’s not personal, it’s just you evolving into the best version of yourself.
Pay attention to what is being said. Work on it. This will make you sharper and adaptive. Both help in growth on professional and personal fronts.
3. It’s ok to look stupid
Just because you fail doesn’t make you a failure or stupid.
You learn from trying something new and different. You may suck at it. Practice can get you better. Sometimes it would completely flop. So what? If you don’t invest in your ideas who will?
The new age Unicorns are shining examples of doing something which people think will fail or be stupid.
The investors made a killing because they believed in themselves, their logic, and their research.
Not every investment will be a UNICORN, but you need only one to reach great financial success.
4. From a social media consumer become a social media creator -
Your time is your most valuable asset. Most people consume social media — a lot of it. It’s the first thing people do when they wake up, the last thing they do before they fall asleep, and one of the most common responses to boredom.
Stop consuming junk, start creating.
Help people by spreading a message that solves problems and makes people want to follow you.
If you do that long enough, you’re going to make a lot of money. Don’t waste your time otherwise.
Use your time to get better at what you do. Become indispensable
5. Buy assets not gadgets
I can’t repeat this enough. As an experienced expert in financial matters, this is the simplest advice I can give.
It’s free. It’s been repeated millions of times.
Remember Rich people buy luxuries from the money their money made them;
Poor people buy luxuries from the sweat of their brow.
If you want to be rich, start spending your money on assets — things that make you money over time.
I am sure you want to do more of this and get ahead in your financial story.
You can build a strong diversified portfolio that will help you retire in peace and prosperity.
Ramit Sethi wisely points out in I Will Teach You To Be Rich:
“Because of inflation, you’re actually losing money every day your money is sitting in a bank account.”
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