Sunday, 26 April 2020

Hidden Secrets Of The Rich About Money (2020)








HIDDEN SECRETS OF THE RICH ABOUT MONEY

In this article, you will get to learn the many secrets of the rich people that they don’t want the middle class and the poor to know. Because if you know all these money secrets, who would be serving them? Who would they be sending on errands and who would work in their companies?

Money is very important in life, if there is no money, you can hardly do anything in life, aside good health, I think money is the next thing, because you will always need money to survive, you will have to be feeding, getting shelter, sending your children to schools to get a good education and so many bills to pay.

Like they always say, a man that cannot put food on the table for the family to eat is not man enough, there is a reason why a man is being referred to as the head of the family, he is to provide the basic needs and also take good care of his family.

How Do Rich People Get So Much Money?

Have you ever seen a rich man driving his Rolls Royce Phantom car and sped past you? And you immediately start talking to yourself, that oh my God! When am I going to be as rich as this man? As a normal being we always aspire to be great in life and also to get the best things of life. But the question is – would you be able to work hard and as well sacrifice as the rich people do?

These are the things the rich people do right to attain their very high status:





 1. The rich people are always working daily to amass wealth, they don’t invest in liabilities, but they always buy assets that will keep bringing money into their business accounts. Assets bring money into the rich man’s account while liabilities take money from the accounts of the middle class and the poor people

 2.  The rich people don’t work for money, their money works for them and by that, they employ people to work for them. No matter how long a middle class or the poor work for the rich man’s company, they can’t always afford to buy all the things they desire and most times their expenditures are always higher than the income they make monthly. The middle class and the poor people jump from one bank's loans to another, they also indulge in cooperative societies which will put high interest on the loans they take, so at the end of the day, immediately they liquidate the current loans they have collected, they will still go back to collect another new loan because some bills have to be paid. At the end of the day the cycle continues and they will never be debt-free

3.  The rich people who own big corporations hardly pay taxes, whereas the middle class or the poor people who work in such corporations or the government establishments are automatically taxed before they even get their salaries at the end of the month, it means the tax would have been deducted from their income earnings before the rest is paid to their account every month.

      Government always wave taxes for big corporations  because they are always smart, they do employ smart attorneys that will make sure they get zero tax sometimes, but in the case of the income earners working in such corporations or in government, their taxes will not be waved



 4.  The rich people have perseverance, like they always say, about 95% of businesses don’t make it up to 5 years before they fold up, it is always very hard to survive. If the rich people fail in their businesses, they will still get up and make sure the business becomes a huge success. They don’t mind if they fail up to five times, they have the believe they will surely come back strong and have a successful business.



But when it comes to the middle class or the poor people, they will complain that a certain business is too risky, especially when they fail in the very first time they partake in the business. Some businesses before they later become stable, they would have failed for so many times, all you need is perseverance, patience and never give up. And you should always avoid taking “NO” for an answer. You must always act positively.

5.  The rich people who have actually made in the business would have actually worked for either government or companies before, except those that inherited their family's wealth. As the rich person was working for a private company or government establishment, and he was being paid, he always put a higher percentage of his earnings into his assets and refrain from buying liabilities that will never return value.

      But in the case of a middle class or the poor, what they do is that a high percentage of their income goes into buying expensive cars, expensive wristwatches and going for an expensive vacation, they will be living large and not knowing they are accumulating huge debts on themselves.

After the rich people have invested their money into assets and after a little time of patience, and the assets have started yielding good returns, they will still re-invest substantial amount of their profits into the asset again. And after re-investing, they will now think of buying the expensive cars, watches and going for that expensive vacation, and all these expenses that are being made are just some parts of the profits they made in their assets.


Conclusion:


If you intend to be very rich, you will have to have your own companies, in which you will make your money and people to work for you, and also keep investing on assets and do away with liabilities that will not bring profits to you.

But, If you actually want to work first for a private company or government in order to gather some capital to fund your business, it is also a good choice, because it is not everybody that will inherit wealth from their family, when you take your salary at the end of the month, you can be channeling a higher percentage of your salary into assets that will always yield good profits for you in the nearest future and as well make you financially free.



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