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The Independent You

The Independent You
@TheIndependentU

Nov 25
11 tweets
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I became a millionaire at age 36… Here’s what rich people know but won’t tell you:

1. Money buys you time Millionaires don't view work as exchanging time for money. They work to create wealth so they have more time for family and doing what matters to them.
2. Working hard is not enough Most millionaires are self-made and have a high work ethic. But they work smart not hard. They focus their time on activities with the biggest return, like growing income or cutting costs.
3. Money is not evil "If you secretly despise wealth, it will elude you." - Naval Ravikant. Millionaires don’t: ▪ think money is the “root of evil” ▪ worry that money changes them ▪ say money makes them unhappy
4. There's no such thing as luck Millionaires understand there is good fortune, but no luck. They consistently place themselves in a position to take opportunities.
5. Saving money is only the first step Millionaires use the power of compounding interest to grow wealth. They save money to have a significant backup in case they need it. They invest all other capital so that their money works for them.
6. Diversify for safety Millionaires know the risk of having one source of income or asset type. Typical millionaire investment strategies: ▪ Take stakes in multiple businesses ▪ Buy property other than their home ▪ Less than 30% of net worth in stocks
7. Failures are inevitable Millionaires weigh risk differently. They understand: ▪ some investments will fail ▪ failure is a part of building wealth. They know when to cut their losses and move on.
8. Children need to learn about money Millionaires teach their kids about: ▪ finance ▪ real estate ▪ stock markets So they can become economically self-sufficient as adults.
TL; DR 8 secrets millionaires know but won't tell you: 1. Money buys you time 2. Hard work hard is not enough 3. Money's not evil 4. There's no such thing as "luck" 5. Saving money is the first step 6. Diversify for safety 7. Failures are inevitable 8. Teach children finance
I'm building this account to inspire 1000s to go from $0 to millionaire by making sound financial decisions. If you enjoyed reading: 1. Follow me @The Independent You for more content like this. 2. RT the post below to share this thread with others. twitter.com/TheIndependent…
I became a millionaire at age 36… Here’s what rich people know but won’t tell you:
The Independent You

The Independent You

@TheIndependentU
I became a millionaire, lost it all, then became a millionaire again. I share everything I learned along the way to help you become financially free forever.
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