1. Benefits of being financially independent
Key to achieving independence Being frugal
Beliefs
By constantly reminding yourself Cars
Inoculate yourself from heavy spending Time spent purchasing luxury items
YOU AREN'T WHAT YOU DRIVE Inverse relationship between Clothes
Expensive clothing Time spent planning one's financial future
Jewelry Luxury Never in their lifetimes Spent near $65,000 for an automobile
Most millionaires
Cars Many people who have high-status artifacts More than half the millionaires Never paid more than $30,000 for a car
Pools But most of us do not spend the time, energy, and money
Wealth Most of us want to be wealthy
required to enhance our chances of realizing this goal
Have little wealth
Spend a lot of time planning my financial future
Earn a lot than it is to accumulate wealth
It's much easier in America to Usually I have sufficient time to handle my investments properly
People drive the best they can afford Consumption-oriented society
When it comes to the allocation of my time, I place the
Achieve management of my own assets before my other activities
Create wealth Nearly all (95 percent) of the millionaires Own stocks
Wealthy need to
Become financially independent Have 20% or more of their wealth In publicly traded stocks
Millionaire Mindset
Build something from scratch Don't follow the ups and downs of the market daily
Display a high-status lifestyle Poor need to The Millionaire Next Door - Luxury vs Wealth Most Don't call their stock brokers each morning to ask how
- Thomas Stanley the London market did
Work
Don't trade stocks in response
Career
120 hours a year
To spend more Popular motives
Allocates about ten hours in a typical month
Why?
To studying and planning his future investment decisions
Not to become financially independent
Financial independence More important than displaying high social status
Fom one level of luxury to the next Series of trade-ups Financial independence
You Aren't What You Drive If your goal is to become financially secure, you'll likely
Should never change one's values
attain it. But if your motive is to make money to spend
Making money is only a report card Money money on the good life, you're never gonna make it.
It's a way to tell how you're doing
Not something that will change your lifestyle Building wealth
Ivan Staroversky - www.StarOverSky.com