How The Rich Get Richer: Financial Wisdom From The World’s Richest People

It’s always advisable to start young in any field you would want to excel in, but it is never really too late for anybody to try for success. Just like in any career, each of us needs inspiration, a mentor, or someone to look up to perceive the greatness you want to achieve.

Knowing is half the battle, and although you have the skills and talents to be a self-made millionaire, advice can help you better yourself. There are also tips worth learning especially if it’s from the people who went out there, did it, and succeeded. Here are the most well-known and best financial advice from the world’s leading money-making minds.

  1. Billionaires Stick to Budget

Most millionaires, and billionaires, still stick to a budget plan. They still live below their means as to not touch the money they are making as much as possible, for that is how they save up the money to millions. Warren Buffet once said that he doesn’t like toys because at some point they will become a pain in the neck. Yachts and cars are actually considered as distractions and mere luxuries by most of the world’s richest.

  1. Be Your Own BossA great percentage of the world richest are bosses of their own businesses by using wealth management tools by OCBC Bank

Although a bit played out advice to some, to most millionaires it is a classic mantra. A great percentage of the world richest are bosses of their own businesses, people who recognized different demands in different fields and created their own jobs. So it is important to keep an eye out for the area you want to build a career in and look to innovate.

  1. Look Out for the Long Run

As Timothy Sykes, a self-made millionaire once said, long term goals are great motivators in building a career and climbing the ladder. Having several short term goals are great if they are used to create your path to your long-term goals. Set a goal early and keep straight at it. Proper management of your money and property is key. To make it easier for you, use tools such as wealth management products by OCBC to monitor your finances.

  1. Risk for PotentialMan building leader leading to sky --- Image by © C.J. Burton/Corbis

Wealth building, just like anything in like, takes a bit of strength and confidence to take risks and get greater rewards. Gary Heavin, a college dropout by 20 and a millionaire just five years later, firmly believes this. One must be comfortable with the uncertainties that they might face, and adjust to rapid change as told by QR Pharma President, Maria Maccecchini. Surely, no one wins big by betting small.

  1. Be Debt Free

Mark Cuban, a newspaper boy who went on to persevere and now owns the NBA team Dallas Mavericks, reminds us to pay debts first before anything else to be truly free to grow. He states that being debt free is worth more than any amount of money that you will earn.

These are just some of the best financial tips and career advice from the experts. Remember that success alone is not guaranteed, so it would be advisable to get professional help too. So keep these things in mind, arm yourself with proper knowledge and take the world by storm in no time.

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