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Rich people are not necessarily the smartest, but they know how to use their money wisely

A question that billionaire Steve Siebold always asks: “What do you teach your children about the secret of success?”. With his own experience and observation of rich people for many years, he concluded in the book “Secrets self-made millionaires teach their children”, in which there are 4 outstanding things he advises his children.

4 things self-made billionaire Steve Siebold teaches his children: Rich people are not always smarter, but they know how to accumulate and make money work for them - Photo 1.

There is no such thing as a success with a commission, so if you can combine your hobby with making money, it will be much easier.

Wealth and success must be reaped with effort. “Being financially independent will be the battle of your life. You’ll have to be willing to sacrifice time, sleep and leisure time to build something great, you will,” Siebold said. have to work while your friends are having fun.”

However, if you have to make such a complete trade-off, your life will become very dry and tasteless, losing the inherent joy of living. So, if possible, skillfully combine the responsibilities of making money and solving problems with your hobbies. This formula will help you do what you love and still make a profit.

The rich are not always smarter, but the core lies in the accumulation of wealth and the ability to solve problems.

Siebold has always kept in mind: “The idea that the rich are always smarter than everyone else is downright wrong. The truth is, most of them are not smarter than the average person who is struggling to make ends meet.” Because the story of getting rich is not only in how much money you earn, but also in how you use and accumulate it. Therefore, as Siebold said: “Getting rich is not entirely intellectual, but most importantly depends on the accumulation of wealth”.

4 things self-made billionaire Steve Siebold teaches his children: Rich people are not always smarter, but they know how to accumulate and make money work for them - Photo 2.

Not only that, to be able to make a lot of money, it is necessary to understand that money comes from problem-solving ideas. Siebold advised: “If you want to be rich, solve a problem; if you want to be extremely rich, solve a bigger problem.”

While many people solve minor problems for their employers, the rich solve big problems and are compensated accordingly. This makes getting rich easier than ever, because “when you solve a big problem and the world will gladly pass their money on to you”, Mr. Siebold asserts.

Always let yourself be surrounded by successful people to always nurture big aspirations and dreams

“You need rich friends, because their exposure and high levels of awareness greatly expand your thinking.” So there’s no reason not to cultivate relationships, Siebold notes. good with rich, successful people.

Find ways to cultivate relationships with wealthy, successful people: “Read their books, attend their events, donate to their charities… and whatever else you need can do to get referrals and build relationships”.

4 things self-made billionaire Steve Siebold teaches his children: Rich people are not always smarter, but they know how to accumulate and make money work for them - Photo 3.

In addition to broadening vision, connecting with the super rich can also nurture dreams and develop aspirations. Rich people often set high expectations. They are not afraid to think big, expect to become rich in their 20s or 30s. Of course, success or wealth won’t come overnight, but it won’t be lost either. life. Dare to dream, dare to expect and believe in themselves will partly help them to go in the right direction. “Most self-made millionaires I’ve come in contact with over the past 30 years say he aspires to be rich,” Siebold adds.

Money solves most problems, but it must be used wisely

The rich are not afraid to admit that money can solve most problems.

Siebold shared that being rich will not make people happy, but it will solve 90% of the problems children are facing. “Make money solving problems, and you’ll be rich enough to solve your own problems,” Siebold says.

Money has great power, but in order to maximize its function, it also needs to be used smartly and skillfully. The rich are investors, not spenders. They invest their money today, so they will have more tomorrow.

4 things self-made billionaire Steve Siebold teaches his children: Rich people are not always smarter, but they know how to accumulate and make money work for them - Photo 4.

To be a successful investor, stick to what you know or what your child is interested in: “If you’re interested in playing guitar, you can research the classical guitar market. If you’re a fan baseball, consider investing in rare baseball cards. If you like to dissect stocks, you can research the stock market,” he analyzed.

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