5 Lessons You Can Learn from the Wealthy to Create Wealth
If you observe the world and read the stories of the great men and women that lived and still live on this planet, you will notice that many of the highly successful & wealthy people are in a way or another living by a set of “golden rules.” So, this article delight presents 5 Lessons You Can Learn from the Wealthy to Create Wealth.
5 Lessons You Can Learn from the Wealthy to Create Wealth
Reading Might Be Boring, But You Got To Do It Anyway
According to the research of Thomas Crowley, 85% of self-made millionaires read at least 2 books per month. Not only millionaires, but even billionaires read a lot. Let’s check out what billionaires had to say about books:
- Elon Musk — When asked about how he learned the concepts to build rockets, his reply was “I read books.”
- Warren Buffet — “Read 500 pages every day. That’s how knowledge works.”
- Oprah Winfrey — “Books were my path to personal freedom. I learned to read at age 3 and soon discovered there was a whole world to conquer that went beyond our farm in Mississippi.”
- Mark Cuban — “My wife hates that I read more than three hours almost every day, but it gives me a level of comfort and confidence in my business.”
The Law of Compounding | 5 Life Lessons To Learn From Millionaires
The law of compounding is why many wealthy people live exotic lifestyles. Albert Einstein called compound interest the eighth wonder of the world. It’s not money that sustains them, but wealth which compounded over long periods of time. Invest first, and place your faith in the law of compounding to build disproportionate wealth. You may not make a billion dollars. But with time, you definitely can make the scale tip in your favor. Depending on how much you invest, it could take up to twenty years. But your resilience will result in the mind-blowing rewards. Warren Buffett, currently worth billions of dollars, made 90 percent of his wealth after the age of fifty.
5 Lessons You Can Learn from the Wealthy to Create Wealth…
Don’t start out pursuing wealth
Wealthy people don’t start out pursuing wealth. Rather, they pursue a Passion. Henry Ford pursued his passion–a horseless carriage. Bill Gates developed a passion for computers and programming at an early age. In the same path, Steve Jobs, and Warren Buffett pursued their passions. The person who said it best is no other than Steve Jobs:
“Have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary.” ~ Steve Jobs
The thing about passion is this, it drives people to move forward, to continue to push themselves, and to not surrender to failure or discouragement.
Continue Forward In Spite Of Failure
Would you believe that Walt Disney was fired because he “lacked imagination and had no good ideas.” Here is the man responsible for an empire of imaginative movies and play for children the world over, and yet, he lost his job due to a lack of imagination. So, another great lesson that you can learn is the importance of self-belief and self-trust, for there will be so many people who will try to stop you from walking your path. And if you personally don’t believe in yourself and the power of your dreams, chances are that you will give up and you will become one of the many people out there who complain about how hard life is and how nothing seems to work for your success. Every lesson learned, every failure, is a movement in the right direction.
Henry Ford is quoted as saying,
“Failure is simply the opportunity to begin again, this time more intelligently.”
Giving Is Receiving
If you’re blessed with the means to live a reasonably comfortable way of life , you have the ability to give. When you give to the less fortunate, you add to their lives, and by adding to theirs, you add to yours too. Also, when you give, you may have to make sacrifices. You learn how to do without certain things so that you can make the donation. There’s nothing wrong with feeling proud of your generosity and using that to spur you on to further acts of kindness in the future. Bill Gates, one of the top philanthropists in the world, is known for his generosity. He donates a large chuck of his wealth in helping the poor and making world a better place. He believes effective philanthropy requires a lot of time and creativity, just like a business requires focus and skill.
Final Takeaway | 5 Lessons You Can Learn from the Wealthy to Create Wealth
The rich are just like us , except when it comes to their money. That is where the two paths diverge, leading to two completely different realities. But the great thing about life is that you can always observe what the ones who have ‘made it’ do, and try to emulate it. And so, let us have a look at above 5 Lessons You Can Learn from the Wealthy to Create Wealth. You will surely find them very empowering, helping to live a more inspiring, balanced & successful life. While being wealthy is a combination of many factors, we can at least try to implement the right lessons in our own lives.
Read also : 5 Mental Tricks To Get Yourself Out Of Your Comfort Zone ( https://thebrightdelights.com/5-mental-tricks-to-get-yourself-out-of-your-comfort-zone/ )