Money Advice from Millionaires
Everyone needs a little inspiration now and then. If your present economic situation isn’t unfolding the way you had planned, take a break and read on.
If you don’t know any of these names, perhaps a bit of your own research on these colourful figures will inspire you to take your plans to the next level.
John Paul DeJoria (Italian immigrant left in an orphanage, founder of John Paul Mitchel hair products, Patron tequila):
Know what it feels like to give to others less fortunate than you.
Cosmas Madukaç “My friends, I tell you that unless you have a vivid picture in your mind of what you want to create; you will not be passionate about pursuing and actualizing the goal.“
Tom Robbins, best-selling author:
Set aside a portion of what you make for yourself – “pay yourself first”. 10% is all it takes.
Grant Cardone says the same thing: “Invests your money before paying anyone else. This way, you are never even tempted to spend or waste money that’s sitting around.”
He adds, “Self-made millionaires tend to have at least three sources of income.”
Ken Blanchard also agrees: A business is always hungry. Any amount of money that you feed your business, it will eat. Pay yourself, first.
Zara Mohamed Abdulmajid: “My mother used to say to me ‘Iman, ‘no’ is a complete sentence, learn to say ‘no’. You don’t have to explain it, you don’t have to say anything after it. It’s a complete sentence’.”
Ashley Fieglein Johnson, chief financial officer of Wealthfront: “I lived below my means.”
Mark Cuban: “[I learned that] credit cards are the worst investment that you can make.”
Tim Ferriss, angel investor: “In your 20s, optimise for learning, not earning.” “The only true job security is a superior skill set.”
Steve Siebold: “The fastest way to make money is to solve a problem. The bigger the problem you solve, the more money you make.”
Warren Buffet: “Be fearful when others are greedy. Be greedy when others are fearful.”
Benjamin Franklin: “Well done is better than well said.”
Newsgate NY: Know when your business has become a fad. Can you grow past your “hero” product?
