How do wealthy people stay wealthy?

Have you read the article on my website on how to have plan A, B, C and D of both your income and your savings? Look for it if you did not because it is important to know how wealthy people stay wealthy. I continue here by stating that;
1. Wealthy people diversify: They put their eggs in different baskets. Baskets A, B, C, D, etc.  They spread risk across different types of assets, so that a decline in value in any one holding isn’t so bad. Forget about money. They wealthy also diversify their “personal equity” … financial, personal and professional experience and prospects and earnings power. How you are going to build your equity in the future. Tart thinking about where you will be earning your living – adding to your savings – in coming years. Where is your paycheck coming from? What other sources of income do you have? Where is your professional network – and how strong is it? How transferable are your skills? How many languages do you speak – and how easily could you work in a different country?
Rich people diversify their assets across markets and sectors… wealthy people do that too, but also diversify their personal equity across businesses, countries and currencies.
2. Wealthy people learn from others: If you want to be a successful at anything, the first step is learning from other successful people. Rich people take a look at what other successful people have said and done… how they’ve overcome struggles… the mistakes they’ve made… and the wisdom they’ve gained. Wealthy people make sure that they understand how others have succeeded. Rich people talk to someone who’s done it all before, and who knows what to look for, and what works and what doesn’t work. Wealthy people talk and learn.

Do not wait to learn from your own mistakes. Learn to avoid the mistakes that others made.

3.Wealthy People find their own way: They neither get trapped in other’s shadows, Nor do they feel like it is too late. It’s human nature to think that if the majority is doing something, then it must be the right thing to do. Wealthy people also know that just because everyone else is doing it does not mean it is the right thing to do. They find their own way.

For more on proven habits of wealthy people, you will have to read my books.

By Victorine Mbong Shu.

Victorine is in education and training since 2002. She is the CEO of Profounder Intelligence Management Services, Publisher, Editor, Researcher, Transformational Speaker, Mentor, Material Developer, Facilitator, Assessor, Moderator and TV Talk Show Host at Children Television South Africa (CTVSA). She is the owner of Profound Conference Centre in Bramley-JHB. She and Dr. Fru are raising 4 bubbly children, including Africa’s youngest multiple award-winning author of chapter books, Stacey Fru. Victorine is a respectable Involved Parenting Conversationalist with a Master’s Degree in Communications. She is a BrandSA Ambassador and Awards Winning Author of the following books:

  • ‘Stop Complaining! and Bring Back Involved Parenting,’
  • ‘Trapped in our shadows,’
  • ‘Proven habits for financial freedom,’
  • ‘Not too late: Stop Complaining and Bring Back Involved Parenting.’

 

 

Comments

comments

Leave a Reply

Your email address will not be published. Required fields are marked *