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11 wealth creation principles that will put you in the top 5%:
1. Invest early and often
Don& #39;t underestimate the power of compounding interest, start investing right now.
It& #39;s not how much money you put in, but how long you do it.
Don& #39;t underestimate the power of compounding interest, start investing right now.
It& #39;s not how much money you put in, but how long you do it.
2. Don& #39;t wait for perfect conditions
Trying to time the market is a fool& #39;s game.
The key is to start now and keep doing it consistently.
Invest the same day of every week, it should be on auto-pilot.
Trying to time the market is a fool& #39;s game.
The key is to start now and keep doing it consistently.
Invest the same day of every week, it should be on auto-pilot.
3. Live below your means
People upgrade their lifestyle as they earn more, but this is a mistake.
If you want to get ahead financially, live below your means and invest the difference.
People upgrade their lifestyle as they earn more, but this is a mistake.
If you want to get ahead financially, live below your means and invest the difference.
4. Invest in yourself
Investing in yourself is the best investment you can make
It& #39;s never too late to learn new skills, take on new challenges, and improve yourself.
Investing in yourself is the best investment you can make
It& #39;s never too late to learn new skills, take on new challenges, and improve yourself.
5. Take calculated risks
Know what you can afford to lose
If there is an opportunity, seize it
You need to take calculated risks that have a chance of paying off, not just sit on the sideline.
Know what you can afford to lose
If there is an opportunity, seize it
You need to take calculated risks that have a chance of paying off, not just sit on the sideline.
6. Have multiple streams of income
Don& #39;t put all your eggs in one basket, have multiple streams of income.
This way, if one goes down, you& #39;ve got others to fall back on.
Don& #39;t put all your eggs in one basket, have multiple streams of income.
This way, if one goes down, you& #39;ve got others to fall back on.
7. Invest in assets, not liabilities
An asset is something that puts money in your pocket.
A liability is something that takes money out
Make sure you& #39;re investing in the right things.
An asset is something that puts money in your pocket.
A liability is something that takes money out
Make sure you& #39;re investing in the right things.
8. Peace is more important
If you can& #39;t sleep at night because you& #39;re stressing about money, it& #39;s time to make a change.
It& #39;s not worth sacrificing your health and well-being for a few extra dollars.
If you can& #39;t sleep at night because you& #39;re stressing about money, it& #39;s time to make a change.
It& #39;s not worth sacrificing your health and well-being for a few extra dollars.
9. An Aspirational Hourly Rate
Knowing your Aspirational Hourly Rate (AHR) is a great way to keep perspective on your spending
It& #39;s the hourly rate you need to earn to afford the lifestyle you want.
Knowing your Aspirational Hourly Rate (AHR) is a great way to keep perspective on your spending
It& #39;s the hourly rate you need to earn to afford the lifestyle you want.
10. Automate your finances
You should automate your finances as much as possible
That way, you& #39;re not manually transferring money around all the time.
This helps avoid mistakes and maximize returns
You should automate your finances as much as possible
That way, you& #39;re not manually transferring money around all the time.
This helps avoid mistakes and maximize returns
11. Emergency Fund
Save 3 - 6 months of living expenses.
This way you& #39;ll be prepared for anything life throws your way
Don& #39;t get caught with your pants down
Save 3 - 6 months of living expenses.
This way you& #39;ll be prepared for anything life throws your way
Don& #39;t get caught with your pants down
Follow @JoeHolka for more on habits, mindset, & business.
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