Yes, it’s true we all have equal opportunity to make a fortune but only very few seizes the opportunity. It’s not always about the Billion dollars[Billionaires] but enough fortune to live life happily and love what you do everyday. Here are the tips to become rich and successful from some of the top billionaires in world. See how many qualities, habits you can inculcate for your goals to enter billionaire club.
You can work really hard get up 5 am in the morning and work late in the night. But allow your money to work smarter for you even when you are dead tired after successful meetings. All the Billionaires suggest you should invest as much as you can. Albert Einstein said “Compound interest is the eighth wonder of the world. He who understands it, earns it…he who doesn’t, pays it”. Whatever you earn make first cut to yourself, this you will invest in your choice of investment. You can do the financial research meeting your time frame, area of interest, goals you have set for yourself and risk appetite. Consider the stock market [people have made fortunes with intelligent and informed investments here over the long term]; mutual funds if you want to play safe; invest in startups; invest in your side project [learn new skills, hire freelancers to help you in project because once the project is completed your small investments will compound to greater returns and satisfaction of completion]. These are some of the ways where your money can work in smart way over the period of time and become a billionaire.
Don’t be happy with steady paycheck:-
Those who had made billions have always believed in self employment rather than steady paycheck based on hours completed in office. I am not denying people haven’t made millions in steady paychecks. But for most this is the slowest path to financial freedom and promoted as safest. And it requires the same amount of energy with pressure to perform every month. While the world class billionaires continue to start new businesses and build fortunes. The masses satisfy themselves with a financial mediocrity by staying in the comfort zone in same job with modest salary and yearly basic pay raises that can’t even beat inflation rise per year in the country.
Put emphasis on earning more:-
Another way to work smarter, not only increase your savings but earnings too. The masses miss the major opportunities either because they are too afraid or believe in mere saving few bucks every month. However, there is no need to reject this habit way of saving. If you really want to make to the rich list you have to stop worrying about running out of money rather focus on how to make more money. A common thread we observed among billionaires is they develop multiple streams of income and adopt smart savings habits.
Don’t buy things you simply can’t afford and for the sake of luxury:-
If you have the habit of living above your income and needs, you won’t make a fortune even if you get a hefty raise. You buy the things on credit for which you pay interest and later realize you could have survived without it. Don’t spend money on things you can live without and avoid buying material to show-off people whom you don’t even talk often & they don’t care about it too. It’s your hard earned money, which should work for your goals. I read somewhere when a $ is in it should be very hard for it to go out.
Pursue your dreams:-
Yes, it is repeated in every advice and tips because it holds a significant importance. When you work on something you love and you become more passionate resulting in more financial success. Many people make mistake of pursuing someone else dreams like their parents, bosses, sometimes friends and forget to believe in their dreams. Billionaires suggest that when you start pursuing someone else dreams you lose interest in working which reflects in your compensation.
Step outside your comfort zone:-
Absolutely “Comfort zone is wasteland, nothing grows there, except guilt”. If you want to make wealth, get ahead in life and be successful, then you have to get used to discomfort and uncertainty. Taking calculated risks and overcoming fear are the key elements to achieving success. Successful thinkers learn early in life that becoming a billionaire is not easy and the need for comfort can be disadvantageous on their side. They learn to be comfortable while operating in a state of ongoing uncertainties.
So what’s your excuse for not taking a step towards financial freedom when you know deep down you can and you have to? What’s your tip to become a billionaire & make it to the rich list, Please comment below so that we can add in our check list?