Want a peek into the playbook of the ultra-wealthy? The super rich have mastered a set of rules that drive their success and sustain their fortunes. These aren’t just financial tips but principles that shape their approach to life and business. Discover the 10 rules to learn from the super-rich and find out how to use them to level up your own financial journey.
Live Below Your Means — Mark Cuban
Cuban’s mantra is simple: don’t spend more than you earn. Overspending leads to debt, a one-way ticket to financial ruin. Identify and eliminate unnecessary expenses to maintain your finances healthy and secure.
Invest for the Long Term — Warren Buffett
It is commonly known that Warren Buffett invests in undervalued companies and holds onto them for long periods of time. His strategy has stood the test of time, and his net worth is a testament to its effectiveness.
Use Coupons — Kristen Bell
Using coupons is one way Kristen Bell promotes financial responsibility. In a chat with Kirby Howell-Baptiste, she emphasized the importance of teaching children about savings and financial prudence. Ignore the naysayers; prioritizing your financial health is what matters.
The 10X Rule — Grant Cardone
Grant Cardone’s book, The 10X Rule, encapsulates two critical lessons: set goals ten times higher than you think you can achieve and put in ten times the effort. This approach significantly boosts your chances of success.
It Must Be An Investment — Bethenny Frankel
For Bethenny Frankel, investing is the only way to spend money. Whether you’re buying a watch or a house, make sure it promises a substantial return on your investment.
Be Ready Before You Expand — Daymond John
As a “Shark Tank” judge, Daymond has often advised against scaling too soon. To avoid draining your company’s cash flow, ensure you have the necessary resources before launching new products or expanding into new markets.
Create Multiple Income Streams — Beyoncé
Beyoncé is more than just a singer. She owns Parkwood Entertainment, which produces movies and clothing lines. Diversify your income sources to achieve financial stability and growth.
Know What You’re Investing In — Oprah Winfrey
Oprah Winfrey’s $43 million investment in a company paid off big in 2018. Her success was no fluke; she thoroughly believed in the company’s potential. Before investing, she says one must understand and believe in the business.
Enjoy Some Freedom — Tim Ferriss
During a year-long introspection vacation, Tim Ferriss realized the importance of work-life balance. A little freedom can enhance well-being and boost trust among your team, as demonstrated by his business flourishing during his break.
Know When To Ignore Rules — Jeff Bezos
Jeff Bezos ignored some well-meaning advice to create Amazon, which revolutionized online shopping. Sometimes, breaking the rules and following your instincts can lead to extraordinary success.
