Auto-rich habit(Book)

 

After reading the (book) The Habit of Getting Rich, I summarize only the main points of the book.

Through the book, I tried to change my thoughts and actions and put them into practice.

Everyone strives to get rich. Even if I look around me, I'm trying to get rich. Struggling to get rich.

If you want to get rich, you need to know how to do it.

It's about knowing and practicing the auto-rich system.

Now, let's all take a step forward to achieve financial freedom in order to become rich.

 

 

Let money be earned by habit, and you invest in life! Making money is also a habit.

You need an automatic rich habit. David Bark says you can get rich like a turtle.

It's a common-sense way of life that can realistically lead to financial independence.

 

They say that you can change your life with automatic automotive.

When you change your thoughts, you change your actions.

You don't have to make a lot of money. You can also get rich from your job.

The reason why the rich got rich was because they invested in themselves.

The most important thing is to have an automated system.

If you don't follow the automated system, it can fail.

 

Listen to your financial advisors. Together with the wife, the couple's money needs to be managed.

Few people can retire in their early 50s. Early retirement requires a significant amount of money.

Sufficient funds are needed. e.g. tax returns, debts, financial statements, Property List 450 Million - House 350 Million Rent House Retirement Pension.

2 billion won invested without debt, 26 million won in interest and dividend income, rent and pension came in.

Habitually learned how to get rich.

 

He amassed this kind of wealth in his early 50s. (Mr. and Mrs. McEntire)

Their way of managing money is not inheritance.

You have to learn how to manage your money well.

You have to be truly rich.

Many people who looked wealthy were on the verge of bankruptcy.

15 minutes Explanation Live what you teach.

They married early (21/19) and lived their lives seriously. We need to make money work for us.

Every time you earn a penny, you have to invest it for yourself first.

People get paid their salaries and pay off their bills first.

Take care of yourself first and pay off the bill.

It's useless to make a budget. 10% of your income is saved unconditionally.

Even if you don't have 10% of your income, you can adapt and live. At first, he saved 4% of his income,

but now he saves up to 15%. The money was first used to save for retirement.

 

 

Then they save money to buy a house. Reduce your consumption and focus on saving for freedom and safety.

Decorating your home is a great way to get rid of small consumption habits later in life (e.g. coffee lattes, cigarettes... etc.), check where you are spending a lot of money.

 

Reduce consumption and pay off loans.

Pay off half of the loan every other week.

As a result, the 30-year repayment period was reduced to 25 years.

Have your car checked by a trusted mechanic and buy a used car.

Never take out a loan.

Don't take out loans outside of your home.

Never overdue your credit card.

It wasn't willpower, it wasn't self-control.

You don't need willpower. It's that simple.

I know I need to do something, but how?

It was simple and obvious. Hands off.

Start by investing in yourself.

 

When your salary comes in, make sure your savings are automatically transferred.

Direct debit is a system that becomes a self-reliant system.

It's a way to protect yourself. Some of the income was to go into the Martial Fund. Anyone can do it.

Automate your system so it can't fail.

Just let everything run into an automated system and you're done.

She taught her children the same.

To live with only 90%. Lived not to be stingy.

I don't have to worry about money every day.

 

 

Make yourself successful. What Is the Right Way?

If you know what to do and create an automatic system like that, that's what happens.

Automate it. It's slow, but if you create a system, you can get rich.

You can get rich with a few thousand dollars a day.

 

Here's how to get rich once again.

1. Invest in yourself first. Invest at least 5% in your retirement plan.

2. Maintain an emergency fund. Save at least 3 months.

3. Automate Dream Money. (To go home, car, travel, cram school)

4. Make sure your credit card is paid on time. Pay it all on the date specified on the bill. The best thing to do is not to use a credit card. I read this book and got rid of all my credit cards.

5. Automate donations.

6. Check how much you're spending per day.

7. Automating the finance program eliminates the problem. 8. If you do the above things, most of the worries in your life will disappear.

2024.02.18 - [분류 전체보기] - Bodo sheper- How to increase your income through wealth leverage

Bodo sheper- How to increase your income through wealth leverage