5 Things I Never Do, To Stay Rich

To me being rich is having enough to cover all your expenses, so working becomes a optional, although always recommended. I have seen people go from having enough to achieve this to wasting it all, risking it all or just simple being dummies.

So knowing myself and how much of a dummie I can be, here are something that I do, to make sure I don’t make these mistakes.

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Don’t watch the news

How this relate to money

Well my investment strategy is a simple one

Invest money into the stock market into boring investments

The problem:

Sometimes things get to exiting and you start to watch the news and worry about the entire planet ending, like the movie 2012 that had everyone going crazy

My game is one of time, patients and contniued invstmens

And knowing every details about every disaster doesn’t help

Not just with money but also with life

The world is not okay, and that’s obvious

And I’ve learned that if certain event is big enough

It will get to me wthout me needing to watch the news

Don’t take advice from fast people

I have a friend, he is great at making money but I’m not sure how great he is at keeping it

You see to make money you need to take risk

But to keep money, you need to be smart and manage your risk to preserve your capital

So when ever I have a friend or the internet tellingme about a new way to get rich overnight, I ignore it

You may ask, doesn’t that mean you are going to miss some opportunities

The answer is yes, but I don’t have to take every opportunity to get to my goal

I just have to stick to the one I have already

I don’t go into Debt

2022 was officially my last year with debt

I have no credit cards and I don’t owe anyone any money

It one of the best feelings ever

Now don’t get me wrong:

Most people will have to borrow to buy a house

But that’s the only time you need to borrow money

For everything you can pay cash just like I do

Debt is one of things that keeps people enslaved financialy forever

The better your score the more you borrow

People pay things off to borrow more

And I gurantee you cant remember what you bought on your credit card in the last 12 months

I don’t try to impress people.

Every purchase that I make

Is one that really want to make

Whether it’s a need or a liability

I don’t think about what other people are going to think about it

Here what I mean

I just got an apartment, its 2bed, I don’t get care for a fancy house to invite people to impress them

I’m currently saving up for a car, I could buy fancy car but instead I will be going for reliable

My clothes I buy quality, on sale clothing, I don’t care much for brands

Trying to impress is a great way to go broke

Don’t ever believe the hype

I know tomorrow I could lose my ability to earn income

I know the market can go down

I know my plans can change

This does 3 things for me

It keeps me humble

It keeps me conservative

It keeps me prepared

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*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I’m an Accountant but I’m not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.

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