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The secrets of wealthy people

The headline seems to be mysterious, but ultimately it's no secret how wealthy people have reached their state. Many people do not use the approach of those, which have already achieved the financial freedom or they simply do not know. I would like list here a few essential points.

A high income from active work is not enough to be wealthy
There are people who get a high income from their active work. These are sometimes 100,000 Euro or Dollar or any more per year. If these people spend the money again, they are already poor, if they do not want (or not able) to go to work anymore. Because they have always changed their time for money. Financially educated people have tapped sources of income, with which they do not need exchange time for money.

They work on projects that generate a regular cash flow, no single payment
One of the main differences between the financially educated people and those who are not, it is focusing on "projects" that flush regularly money into his own wallet. The middle class and the others work not necessarily less than wealthy people, but they only receive a single payment for their work. Or other words, the wealthy people let their money work hard for themselves instead only self to work hard.

Payout of dividends and interest rate

Wealthy people diversify their income as well as asset classes
Unless there is only one income stream, then someone goes taking a big risk. Because if this flow of money runs dry, then no more money flowing into your own wallet. Financially educated people create multiple streams of income. These can both originate from the exchange of time for money as well as other activities.

They understand the nature of money
Most people see money as a medium of exchange, and especially as a finite resource. The financially educated people see money as seed. Similar to how a farmer sows seed, it has later more fruit / harvest than before, they deal with money. It is invested (money sown) to "harvest" more money afterwards. Here, the effect of compound interest works is particularly effective for the investor.

They act and help the "good luck" on the jumps
For many it is a common misconception that the financially educated people would have just been lucky to have become wealthy. If every day you go to work and in the evening sitting just in front of the TV or wherever you are lazy, then you will not change this situation. Wealthy people, however, are constantly looking for further investments or collect ideas for new products. It is sometimes a long and hard journey, but there comes a point at which a project pays off eventually. Viewed from the outside, it looks for the "working class" and "middle class" as if luck is the only reason for the success. In truth, constant activity and considerations are behind the money flowing streams.

Wealthy people are not or only a little bit interested in the current happenings in the stock market
An important question for the middle class is what the stock market is doing. And the hectic happenings of the stock market then drives them useless in trading activities. Financially educated people look but only occasionally in the stock market, but overall they put their focus on a different target. Wealthy people think about what brings a long-term investments and get a regular dividend.

They are interested in what other wealthy people do
Most people are more likely enviously when someone is talking about successful people. On the other hand financially educated people admire wealthier people and they are interested in their activities in order to learn from them possibly even more. Similarly, the negative opinion in not financially educated people when someone advertises itself or its products. Advertising and the sale of products is considered by many - wrongly - as indecent.

If you are searching for profitable investments, look at these plenty of ETFs with high dividend or interest rate and the high yield/dividend depot.


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