One-Sentence Financial Rules. There are 56,956 personal finance books on Amazon.com.
In aggregate, they contain more than 3 billion words. This seems absurd, because 99% of personal finance can be summarized in nine words: Work a lot, spend a little, invest the difference. Master that, and the other 2.999 billion words are filler. The most important finance topics don't require details. Most can be, and should be, summarized in a sentence or two. Here are some I've learned. Li Ka-Shing teaches you how to buy a car & house in 5 years. Hong Kong billionaire Li Ka-Shing shares some of his money wisdom, outlining an inspirational five-year plan to improve one’s lot in life This article is translated from the original Chinese by Edmund Ng at CeoConnectz.
Suppose your monthly income is only RMB 2,000, you can live well. I can help you put money into five sets of funds. The first $600, second $400, third $300, fourth $200, fifth $500. The first set of funds is used for living expenses. Second set of funds: To make friends, expand your interpersonal circle. Third set of funds: To learn. Fourth set of funds: Use it for holidays overseas. Fifth set of funds: Invest. Well, after struggling for a year and if your second year salary is still RMB 2,000, then that means you have not grown as a person. If your monthly income is at RMB 3,000, you must still work very hard. Try to buy minimal clothes and shoes. Businessmen everywhere need help. No matter how much you earn, always remember to divide it into five parts proportionately. The First Million Might Be The Easiest: How To Become A Millionaire By 30. 5 Ways to Become a Self-Made Millionaire. There is much more to life than making money.
But it's safe to say that earning more money can significantly change the course of your life--especially if it's $1 million or more. If you're wondering how to become a millionaire (and who isn't?) , the answer is that most of them are self-made men and women. It's certainly possible to break $1 million mark working at a corporate job, but as most employees can tell you, you often have little say in who gets promoted ahead of you. Not to mention that a big corporate payoff usually takes decades of work. [See 10 Ways to Start Earning Extra Money Now.] Entrepreneurs, on the other hand, can take control of their circumstances and create opportunities for earning more money. In his best-selling book The Millionaire Fastlane, author MJ DeMarco lays out five paths to earning large amounts of money relatively quickly. 1. However, there are many other ways to rent your assets outside of real estate. [See The Worst States for Millionaires.]