Life rules to help you get rich
Mark Minervini is a stock trader and writer. Here’s a take on his nine rules to get rich:
1. Go where the money is - choose a career with good conditions for money making.
2. Forget about money - once you’ve chosen a career, stop thinking about money and instead focus on becoming really good at what you do.
3. Think in decades not years - wanting to reach goals too fast will make you quit too easily.
4. Leverage yourself - make sure you use the right tools and team up with the right people.
5. Live modestly until you are at least a millionaire - don’t spend on fancy stuff until you’re actually rich.
6. Follow the 10% rule - don’t spend more than 10% of your wealth on things that lose value once you start using them.
7. Only lend what you are willing to give - give friends and family money gifts that you can afford but don’t expect them to pay back. That will keep you from losing relationships over money.
8. Never lay odd - think in odds or probabilities when making money decisions. What are the odds of winning or losing?
9. Consider your savings at zero - don’t eat into your savings during tough times. Instead, make adjustments and cut your expenses as if you had zero in the bank.
Top Mental Qualities for Stock Trading, Investing From Mark Minervini (Business Insider)
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