10 Things Rich People Do

 How to Get Rich

1. Build Multiple Income Streams The average millionaire has 7 income streams. Income streams could include: - Primary job - Partner's job - Real estate income - Side hustle income - Interest and dividends Don't put your eggs in 1 basket. Diversify your income today.

2. Use the System in your Favor 66% of millionaires are business owners. The wealthy use: - Tax deductions - Tax advantages - Personal liability protection Understand different business structures: - LLCs - S Corps. - Sole proprietorships Build a lasting empire now.

3. Be a 401k Millionaire As of 2020, there is a record number of 401k millionaires. How to be a 401k millionaire: - Invest early - Invest consistently - Use employer matches - Increase investments with raises With time and consistency, you can be a 401k millionaire.

4. Pay Yourself First Use money to make money. How to pay yourself first: - Deposit your paycheck - Automate your investments first - Any money left over can be spent Create your wealth before you consume. You owe it to yourself.

5. Find an Accountability Partner Find a trusted partner to hold you accountable for your financial goals. An accountability partner can be: - Your friend - Your spouse - Your partner - Your mentor - Your professor Use your network to your advantage.

6. Invest, Don't Just Save "Compound interest is the 8th wonder of the world" - Albert Einstein. Invest in: - Yourself - Your network - Your business - Your retirement There is no such thing as the "perfect time" to invest. Start today to build a better tomorrow.

7. Avoid Debt Get out of high-interest debt today. Debt can hurt your: - Credit score - Quality of life - Chances for retirement - Ability to open a business - Chances for continuing education If you hold high-interest debt you are robbing your future self.

8. Don’t Spend Money on Stuff you Don’t Need Instead of buying: - Luxury cars - Luxury clothing - Lavish vacations Use your money to: - Pay off debt - Invest in yourself - Invest for retirement Don't buy stuff to impress people that don't care.

9. Automate Bills & Investments Why automation works: - More time - Less stress - Consistency Automation will help you: - Stick to your plan - Remain consistent - Not miss any due dates When you automate your life, you automate success.

10. Create a Plan of Action Every dollar has a purpose. That means: - Start a budget - Track your budget - Review your budget daily - Discover opportunities to improve The hardest step is starting. Make a plan today.