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- The Rich don’t work for money: The rich work to build assets that will make money work for them.
- Know the difference between assets and liabilities. Assets put money into your pocket. Liabilities- take money out of your pocket.
- Mind your own business: Manage your own accounts, create your own business, have your own investments. Seek the advice of others, but know your business.
- Investment vehicles: Business, Stocks, Bonds, Mutual funds, Income producing real-estate, Notes (IOU’s) are some examples of Investment Vehicles, Royalties
- Own your own corporation: Own corporation: earn-spend-tax OR Work for corporation: earn-tax-spend
- Live below your means first, then when you get rich expand your means.
- Pay yourself first- Tax yourself on every dollar you earn. Get 3 piggy banks, One for savings, investing and tithing and put a dollar in each bank.
- If you want to be rich print your own money. When I say print your own money, I’m not talking about counterfeiting, but ways of bringing in money. Receiving passive income from e-book, articles and affiliate programs are all examples of printing your own money.
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