Become rich and stay rich.
You don’t have to rely entirely on your assets; you can definitely work a day job too. However, do not use your day job as an excuse to forget about your asset column—you must work hard to build it up.
It is one thing to become rich, but you must follow the above two steps if you want to stay rich. Otherwise, you risk losing your money to bad investments, careless endeavors, or debt.
- Build your asset column, and keep it strong.
Once a dollar goes into your asset column, never let it come out.
- Buy luxuries last.
If your goal is to simply look rich, you will end up buying luxuries as soon as a little cash flows in. However, this will lead to debt on credit. If your goal is to be rich, you will have to put in the time and effort to make money first and buy luxuries only when you have the cash to afford them.
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