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Added on the 20/01/2022 18:16:43 - Copyright : Euronews EN
Sarah Stanley Fallaw is co-author of 'The Next Millionaire Next Door: Enduring Strategies for Building Wealth.' By interviewing over 600 millionaires, she says that they tend to share the same traits: focus, resilience, discipline, and perseverance. Happily, Business Insider reports that just by doing two things, anyone can cultivate these qualities--even if they don't come naturally. The first is to understand where you are today. In other words, do some self-discovery to learn where you're tripping up. For example, if you tend to make decisions emotionally, ask yourself how that trait may be blocking your progress towards wealth. Next, build your new behaviors around your usual behaviors to get your new habits of saving and investing established. For example, turn a savings deposit into a 'bill' that you 'pay' yourself when paying all your other bills. Good luck!
Researcher and author Thomas J. Stanley burst onto the scene with his fascinating book, 'The Millionaire Next Door.' Based on his interviews with and surveys of over 1,000 self-made millionaires, the book delivers a number of pieces of solid advice for building wealth. According to Business Insider, the first task is to learn how to save and live frugally. Only when you have those habits ingrained should you turn to investing. Next, learn to base your investments on increased earnings. In other words, keep your lifestyle the same, and invest more and more of your remaining income. Third, save and invest to be financially secure, which is quite doable. Don't do it to be rich and lead a lavish lifestyle, which is precarious and unlikely to succeed. Multimillionaire W.W. Allan told Stanley that oftentimes, building wealth with the wrong motivations puts it out of reach. If your goal is to become financially secure, you'll likely attain it. If your motive is to make money to spend money on the good life, you're never going to make it. W. W. Allan, multimillionaire Finally, model your habits to your children so they can build wealth and financial security for themselves--not depend on you for it!
Business Insider reports health experts are encouraging people to get flu shots. It could help avoid the possibility of getting the flu and COVID-19 at the same time. According to a preliminary study, flu shots may also reduce your risk of catching COVID-19. Researchers found news about healthcare workers who got a flu shot in the 2019-2020 season. They were 39% less likely to have gotten the coronavirus by June. Additional research suggests that vaccines can boost the body's innate immunity to other diseases.
Business Insider contributor Kevin L. Miller II has vowed to give his children a running start to their adult life, by building wealth for them as they age. Within weeks of bringing each of his children home from the hospital, they all had a 529 college savings plan and a custodial account. In fact, Miller says that by the time his son turns 18, he'll have 75 times more in savings than he had at that age. To build generational wealth, Miller says it must start with communication. Speak with your children about saving, investing, and earning. Start early. Assuming a 7% annual return, by investing just $100 per month when your child is one year old, he or she could be a millionaire at age 61. But starting at age 25, Miller says, it takes $550 per month to hit the millionaire mark by 61, or $1,200 per month starting at age 35. Finally, don't just 'set it and forget it.' Keep a close eye on your finances and do an annual update to account for your life changes.
McLeod Ganj, Jul 10 (EFE/EPA).- Hundreds of Tibetans in exile on Friday gathered in Mcleod Ganj near Dharamsala to protest against China and make a call for global boycott of Chinese goods. (Camera: SANJAY BIAD).SHOT LIST: TIBETANS IN-EXILE BURN CHINESE FLAG AND EFFIGY OF CHINESE PRESIDENT XI JINPING DURING A PROTEST AGAINST CHINA, AT MCLEOD GANJ, NEAR DHARAMSALA, INDIA.
Hong Kong, June 3 (EFE/EPA).- Hong Kong's Demosisto party chairman Nathan Law, secretary-general Joshua Wong and Sonny Cheung launched a global petition calling on European leaders to oppose Hong Kong’s National Security Law being drawn up by Beijing. (Camera: JEROME FAVRE)FOOTAGE SHOWS DEMOSISTO PARTTY REPRESENTATIVES SPEAKING TO THE MEDIA OUTSIDE THE LEGISLATIVE COUNCIL IN HONG KONG.
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