Now I will share with you Eight Steps to Become a Rich, which is a best-selling book in the United States. The author Charles Carlson systematically interviewed and investigated 170 millionaires in the United States and learned from their experiences in becoming rich. , summarized eight action steps to become a million-dollar person.
The first step is to start investing now.
What if you don't have the money to invest? Carlson suggests that investors force themselves to invest 10-25% of their income immediately; What if you don't have time to invest? Then immediately reduce the time spent watching TV and spend your energy on learning about investing and finance; What if you are worried that the stock price is too high? Don't forget that stock prices will always reach new highs.
The second step is to
set goals.
This goal can be to prepare college tuition fees for your children, buy a new house, or save enough for retirement before the age of 50. In short, any goal is fine, but you must set a goal and work hard to achieve it.
The third step is to
spend the money on buying stocks or stock funds.
Americans believe that buying stocks can make you rich, while buying government bonds can only preserve your wealth. The common experience of millionaires is: don't believe in gold, rare collectibles, etc., put your heart on stocks, this is the beginning of building wealth. From a long-term trend, the average annual return of stocks is 11%, while government bonds are less than 5%, so all opportunities with better opportunities should seize the investment opportunities in stocks.
The fourth step is to
Don't be short-sighted.
Millionaires don't get rich by investing in high-risk
stocks. They invest in common blue-chip stocks and UC stocks that cooperate
with the main players.
The fifth step is to make a fixed investment every month. Investment must become a habit and become a monthly "homework". Regardless of the amount of investment, as long as you make a fixed monthly investment, your wealth will be enough to surpass more than two-thirds of the people in the United States, because they usually only think about consumption and only think about investing when they are old.
The sixth step is to
buy stocks and hold them for a long time.
Surveys show that three-quarters of the rich people buy stocks, are after looking at the stock will pour all their money to invest, in order to get the maximum return, Warren Buffett, Soros, as well as Rogers is a very good example. If you are buying stocks on your own, it is recommended that you do not operate a short-term investment because buying and selling frequently is not only risky, but you also have to pay transaction fees, brokerage commissions, and so on. The more you trade in this way, the more it will not make you rich, but will only make the traders rich. Unless you are following the main force together with the co-operative trading, there is a stable grasp before you can make short-term investment.
The seventh step is
to View the tax bureau as an investment partner.
It is counterproductive to resent the tax bureau. Instead, you should view them as your investment partner. Stay up-to-date on new tax regulations, cleverly utilize tax-exempt provisions for legitimate investment and financial management, and make the tax bureau your wealth-building assistant. This is the positive approach.
The eighth step is to
limit financial risk.
Most of the million dollar millionaires can afford to come out, buy off-the-shelf suits, drive ordinary sedan cars, and shop at affordable malls. They usually don't like to change jobs frequently, don't have a bunch of kids, don't move, don't have a lot of surprises in their lives, and stability is a common trait among them.
Now you set yourself
a financial goal, with a goal of your heart, when faced with the persistence
required to open up and cut back on expenses, will become much easier.
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