One of the people I follow shared today the following Secrets of the Wealthy. Of course, there is more context than just the sound bite. The secrets:
- Pay yourself first
- Live on 20% of your income
- Don’t lose money
- Invest in assets that cash flow
- Have more passive income than earned income.
He goes on to say:
“The most important is to be patient and invest for the long term. If there is immediate gratification, it is most likely an expense rather than an investment. Investments take time to bear fruit.”
I will expand on these points in the next few posts. So don’t get your hackles up on the live on 20% until I’ve expanded on that…
If you would like to discuss any of these, or any other topics, please reach out!