The 5 Lessons A Millionaire Taught Me About Life And Wealth Book Summary
- Author
- Bronson Wilks
- Published
- Mon 31 Jan 2022
- Episode Link
- None
In this episode I discuss some of the highlights and key insights from The 5 Lessons A Millionaire Taught Me About Life and Wealth written by Richard Paul Evans. This book is a very simple read with practical money management strategies to help you become wealthy.
The 5 Lessons
1) Decide to be wealthy. Wealth just like other aspects of our lives is the outcome of our mindset and determination.
2) Take responsibility for your money. Know how much you're making, where it comes from, assign every dollar a job and track your net worth monthly.
3) Keep a portion of everything you earn. This is another way of saying invest 10-20% of your income regularly and don't touch it. Let if grow over the long term. The money you keep is your actual wealth.
4) Win in the margins. Find ways to make a little extra money on the side, then invest most of that extra money earned into your retirement accounts.
5) Give back. Money does not make people happy, it can however allow you the time and resources to help others.
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