December 9, 2022

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10 golden rules you must have to follow to become a millionaire

10 golden rules you must have to follow to become a millionaire

With rapid globalization and an ever-growing economy, the number of rich people has increased more than ever before. This increasing online culture has made more millionaires in the last decade than last 100 years. Now becoming a millionaire in this economy is easier than ever before. Right now, the USA alone is producing 1700 new millionaires every day. if you want to become a millionaire then you have to understand that there is no hard and fast rule for it but surely there are some golden rules you can’t afford to leave and must follow religiously

Never spend more than you earn

We all already know from our parents that we have to save and don’t spend recklessly but in this social media culture, we have forgotten the wisdom of our elders and spend heavily on the things we don’t need we spend just to get attention, admiration from the people we don’t even like. People follow the herd mentality and buy what their neighbors, friends, and relatives are buying just to please them and to maintain a fake profile in society there is one thing common in every rich people they make their path and don’t follow the herd. Make your principles and follow them. Some millionaires follow the principle that they will only buy a liability if they have ten times more money in their bank account.

Start investing early

Investing in the equity market, NFT and cryptocurrencies can be very beneficial and make you rich if handled properly. Many millionaires and billionaires like warren buffet become so much wealthy just by investing in the right place at the right time and it is previously said that ‘now is the right time. You have to take calculated risks or even a little bit more to get extremely lucky with money. If you are not taking any risk, you are at the biggest risk. Get started with your comfort zone but start investing as early as possible.

work on your purpose

If you see one thing common in all extremely wealthy people they worked on their purpose more than just seeking money. They already know that money is the by-product of the value you provide to the world. The more valuable you become the more success and money will find its way to you. All highly successful people like steve jobs and Elon musk give their whole life for their purpose. Do something that excites you, learn new skills, and follow your dreams. Don’t just chase your dreams go and hunt them.

let your money work for you

If you are trying to earn in exchange for your time then you will only earn how much time and work you put in but we all know that it’s not the millionaire’s way they don’t trade their time for money, instead they put their money into work. They invest their money and let it multiply. They buy assets like Real estate and invest in stocks, and equity to multiply their money.

Invest in gold

Before these crypto and other digital currencies people invest heavily in gold and why not they are one of the biggest assets ones can ever get. Paper currency is regulated by law and can lose its value at any time but things like gold retain their value for a long time. Gold is an important component of every electronic device so its requirement will always be there. You can use your gold to take gold loans also. Gold due to its everlasting nature is the best investment you can make and also you can not put all your eggs in one basket you need to diversify your investments.

learn and upgrade daily

The world is changing at such a fast pace that if you are not constantly upgrading and updating yourself then you are lacking behind. Learn new skills and new things from time to time to keep your place in this cutthroat competition. Read books, listen to podcasts and consume only the right and worthy content, and not only binge-watch reels and television. Even throw your television out of your home and never get it back it’s just trash. Don’t consume negative news and drama shows that only make you dumb. Invest your time wisely and always track your progress. Make sure you are not just getting the feeling of accomplishment. Always measure your progress by using numbers not just from feeling and experience because experience is for looser because you have limited time on earth and you can’t afford to do all your mistakes and learn from them. Learn from other people’s mistakes and constantly work on yourself.

Conclusion

Being rich is the thing that everyone desires but not everyone wants to do the work where you can get the treasure. Learn new things, go after your dreams, and most importantly take risks because not taking any risk is the biggest risk you have been taking but forget to be happy and grateful on the way because the path is everything, not the destination. Go for the wildest dream you have dreamed of and fulfill your desire to become rich and abundant. Rember richness is your birthright.

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