The first step is to start investing now. In his book, he said that in the United States, more than 60% people have not even taken the first step to become millionaires. Everyone has a bunch of reasons when taking the first step, but in fact these reasons are just irrelevant excuses. Some people may say, "No time to invest." Carlson said, "Then why don't you spend less time watching TV and concentrate on learning about investment and financial management?"
The second step is to set goals. Whether the goal is to prepare children's tuition, buy a new house or retire comfortably before the age of 50. No matter what your goal is, you must make a plan and work hard for it wholeheartedly.
The third step is to spend money to buy stocks or funds. "Buying stocks can make you rich, and buying bonds can only keep your wealth." The millionaire's experience is: don't trust those things like gold and rare collectibles, but focus on stocks, which is the beginning of building wealth.
Step 4: Low-risk millionaires will not get rich by investing in high-risk stocks. Most of them only invest in ordinary blue chips, which is slow but low risk.
Step 5: Fixed monthly investment. Make investing your habit. No matter how much you invest, as long as you invest regularly every month, it will be enough for you to surpass more than two-thirds of people.
The sixth step, persistence is victory. The survey shows that 3/4 millionaires buy a stock and hold it for at least 5 years, and nearly 40% millionaires buy a stock and hold it for at least 8 years. There are frequent funds for stock trading, so it is not only necessary to bear risks, but also to pay high capital taxes, transaction fees, brokerage commissions and so on. "Too many transactions will not make you rich, but will only make the agent rich."
The seventh step is to make good use of the tax bureau as an investment partner. Disliking the tax bureau is not constructive thinking, but should regard the tax bureau as your investment partner, pay attention to the new tax regulations, be good at using tax-free investment and financial management tools, and let the tax bureau become your assistant to get rich.
The eighth step is to limit financial risks. Most millionaires lead a boring life. They don't like changing jobs, they have only been married once, they don't have many children, and they don't move at ordinary times, so life is not too unexpected or fresh. Stability is their common feature.
Financial management is a "marathon" rather than a "100-meter sprint", which is more about endurance than explosiveness. For investments with unpredictable short-term and high long-term returns, the safest investment strategy is to invest first and wait for opportunities before investing. Share this article quickly and let more people know about this financial knowledge!
Original source: Apollo network