Kevin O’Leary, a self-made millionaire and “Mr. Fish tank” is not validated by the words that come to the financial habits known as “Mr. Beautiful” wealth. After the building and selling companies for decades, O.Leary, Millions, a common habit believing that the Americans believed to be weak.
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“When I see the children, I can’t stand when I see the children spent $ 28 for dinner in 70,” he said, “O’Leary Last interview with “the diary of a CEO.” “I mean it’s just stupid.”
But this is not just about expensive dinner. O’Leary’s criticism goes deeper than a single meal – it refers to the basis of financial discipline that sees the destruction of people Long-term wealth building potential.
The frustration of O’Leary stems from watching people and watching people The larger picture of ink growth. When I see someone spent $ 28 at lunch, he doesn’t see only one expensive meal. He calculates what the money becomes when it passes.
“Think about this about this about this about 8% to 10% in the next 50 years,” he said. Instead of $ 28 lunch, retirement can grow up to hundreds of dollars.
This perspective comes from the classes learned from the mother of the Holy Wealth by disciplined savings and investment. The weekly money will receive 20% of the money and put this habit for 55 years and put the dividend on the bonds.
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O’Leary recommends and wear how much you think that you are wearing or wearing or wearing or wearing what you do not wear or wear. “
This wardrobe test reveals a wider example of financial decision-making. People take something impulsively, rarely use and then repeat the cycle. Meanwhile, this money could work in investments for them.
“The creation of wealth goes into a word: discipline,” he said. “Look at something and” I’m going to work for me “I’m going to work.”
This discipline does not consist of only expensive lunch or unnecessary clothing purchases. This consists of consistent the mental frame Choose a long-term wealth building with short-term pleasure.
“Many people do not have this discipline,” he said. “Wealthy people have this discipline. You will meet them in life later, you understand that they are young and nothing, and even the employees have an order that the material is now available.”
The solution of O’Leary is true: Invest 15% of your salary before your chances of spending. Even for this purpose, for this purpose, it has built an application called Leanstocks, although many similar tools are available.
“If you earn $ 70,000 a year and leave 15% of your 25%, only if you invest only in the S & P 500, there are more than one million and a half dollars,” he said. “That’s what history tells you.”
Key automation. To remove the test to spend this money Invest in before you ever saw.
O’Leary’s investment philosophy comes directly from watching the success of his mother. Follow the simple rules that everyone can carry out:
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In none of the no stock is not more than 5%
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No more than 20% in any sector
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Focus on shares and bonds paying dividends
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In fact, only do not spend dividends and interests
“When I saw the results, I said, ‘I will invest. I will invest in the rest of my life.” He said. Extraordinary in the age of 55 “and” outside no hedge fund “.
Things to the criticism of O’Leary understands that the complex effect is both ways. Early invested money can grow sharply for decades, unnecessary purchases are wasted, not only immediate expenses, but the growth that money can occur.
No one spends $ 28 at lunch on lunch does not only lose this money – lose ten years of potential ink. In a 40-year career, the scattering of this lunch can easily cost a lost wealth of hundreds of thousands.
The message of O’Leary is not about living or not enjoying life as a silly. It is intentionally to be intentional and understand the real value of spending decisions. Every dollar spent on something unnecessarily is a dollar that cannot combine over time and cannot grow.
“There is a lot of things that don’t need.” The rich understand this principle and act in a row, while others are trapped in consumer periods that prevent them from building real wealth.
The way to financial freedom for O’Leary is clear: allow you to automate your investment, not unnecessary purchases and lifting complex growth. Those who master this habit are building wealth. Those who do not remain poor.
It’s simple (and at the same time difficult).
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