I discovered a long time ago that wealth built over time lasts longer and is much better to manage and enjoy than sudden wealth
I suppose I should share a 'sub-discovery' under this one. Do you know what this 'sub-discovery' is? It is this:
More than 90% of every young person you meet on the street wants quick money. Quick, and plenty money.
You know the problem about this arrangement? It's infinitely rare to come across quick and plenty money.
Possible sources which include, the lottery, inheritance, a big cash win, or a big cash gift, all does not happen that frequently. You could wait for a lifetime and still not come across any of the above, or any other way of coming across quick money.
And it gets even more interesting.
Research on lottery winners and unexpected large inheritance recipients show that most, if not all of them, within a few years, come back to the level they were before they became wealthy.
What's going on here?
It's a simple thing. Wealth is better built from the ground, just like a house. When sudden riches come upon a man. Wealth which he did not work for, you know what happens? Such a man is immediately overwhelmed with all the things he could buy with the money.
Isn't that the first thing that comes to your mind when you have money? WHAT CAN I BUY?
This, dear reader, is the root cause of poverty. When you're always thinking of what to buy.
So, guess what our newly wealthy guy does on a daily basis. Buy and buy, and buy. He keeps spending the money. He keeps trying to look like someone in his new class is supposed to look.
He squanders his riches. It only takes a matter of a few years, depending on how much he started with, for all the money to grow wings and fly away, little by little.
Most folks who encounter quick riches don't know much about making their money grow, work for them and earn more money. They only know how to spend and spend and spend.
That's why they tend to lose all the wealth almost as quickly as it came by.
The best structures are built on solid ground. Wealth that lasts is built slowly and carefully. This is what I learned a long time ago.
Should I reject a big cash gift, or an inheritance? Are you kidding me? Of course not!
What I should do is to learn how to grow money. It is an art. It can be learned. Wealthy people who enjoy and keep enjoying their wealth have learned how to keep the source of their wealth constant. The more they take out of their pockets, the faster their pockets get filled with more money.
That's what I learned a long time ago.
That's the key, friends. Learn some money management. You can grow to be a billionaire with almost nothing. As long as you have determination, ideas and a plan. A lot of people have done it.
And yes you can...
To your success...
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