Crucial Money – Making Principles from the World’s Richest People
People with money tend to think and see the world differently than others who are less fortunate. Many of the world’s wealthy actually had to make their own fortunes as well as trying to keep and add to them.
And most of them have admitted that preserving and enlarging their riches is much more difficult than making a fortune in the first place. So, is there anything we can learn from them? Following are 7 crucial lessons about money that these privileged people have learned and wish to share with the rest of us:
1. Money means freedom
Although money cannot actually buy freedom, it does give the opportunity to choose what you wish to do and when. Having the opportunity to fulfill your wishes and meet your needs at any time is a liberating experience.
If you are bored with your job, you are free to quit – something that gives a certain peace of mind making the job more enjoyable. If you want to go on holiday, it is not a problem. You are free to choose when you will work and where. If you want to start a new business, you have the contacts and funding to do so. Should you fall sick, you are fortunate enough to obtain the best doctors and care.
Bear always in mind, though, that money can never be a substitute for personal relationships.
2. Be on the lookout for investments on a daily basis
Rich people always have an eye to the future and are incessantly looking for new opportunities to invest and make more money. Their inner radar never sleeps and they are able to find new ideas wherever they may be. They make sure to keep an ear to the ground for inspiration to follow new leads.
Thus, if you want to follow their example, you should find the suitable consultants that can deliver exceptional proactive advice instantly and add value for your investments. Experience Consulting teams can offer professional services and advice suitable for every kind and size of business and individuals. Exceptional Business consultants can recommend you ways to invest and grow your money. Learn how to do the right steps for a new investment.
3. Keep investments simple
Wealthy people tend to avoid complicated investments and keep things simple. Why? Because getting involved in hedge-funds or their ilk means not being able to control the situation. It is best to avoid high risk investments where expensive fees are often involved. If it is hard to understand the investment, it is better not to invest in it. Bear also in mind that investments promising extremely high returns far more quickly than usual are extremely dangerous. So be cautious and remember that impatience has a reputation of devouring fortunes.
4. Money in the pocket is money earned
It isn’t necessary to become a Scrooge but the less money you spend, the more you have to re – invest. You don’t have to spend money just for the sake of it or because you have it. Better to be more prudent and have more leeway for new investments which will earn extra money in the future.
On the other hand, do not confuse prudence with nearness. If you want to make profit you will have to spend some money – just take care to do it wisely.
5. Make investments in appreciating assets
It is wiser to invest in assets that will appreciate or increase in value, thereby bringing in more income. These assets could include stocks, bonds or property. Again, getting reliable information from trustworthy sources is extremely important.
6. Don’t put all your investments in one place
It is far wiser to diversify and include various investments in stocks, bonds, property, collectibles and any business ventures which seem feasible. Never risk putting everything into just one area – such a decision could make you lose everything.
7. Money doesn’t make the man
Individuals who have money realize that money can never buy the qualities needed to earn you love, admiration, true friends or lasting happiness.
Money doesn’t make you a better person (often quite the opposite in fact!) A vast majority of the very rich are lonely and fearful that others are just after their hard earned cash, they lock themselves away like Howard Hughes. Frequently, the man in the street, with a wife and kids, true friends and a full life is far happier than the man counting his riches alone in his castle.
PHS & Partners is working with many business people! We know the key to success and how to grow a business with the right investments. Contact us and we will provide you with free consultation and help you turn your tax into investment.
If you want to work with professionals who provide exceptional quality standards of services in Cyprus, the simplest way is to fill in this contact form.
We will analyze your case and advice you on:
- What company structure suits you best,
- What is the best Tax solution(s) for your business,
- What Banking and cash flows arrangements available.
We will take you through a step by step process from A to Z in creating the perfect business in Cyprus.
Can’t wait any longer? Fill in the form and submit your inquiries make your first step and we will deal with the rest.
Become even more successful by working with accountants you can count on and be among the thousands that already did.
If you want to work with professionals who provide exceptional quality standards of services in Cyprus, the simplest way is to fill in the contact form below.
We will take you through a step by step process from A to Z in creating the perfect business structure in Cyprus.
Can’t wait any longer? Become even more successful by working with accountants you can count on and be among the thousands business that already did.