Australia is a country of millionaires. According to the Australian Bureau of Statistics, household welfare has reached $ 1 million, due to high real estate prices and a growing balance of long-term benefit payments. These data raise the question of how an investor can rise to such a level to become a multimillionaire.
How to become a millionaire
Hugh Bickerstaff, investment director of ventible capital group Investible, said that people should not be fixated on income. Bikerstaff, a graphic design firm, currently stands at $ 3.5 billion. He himself believes that when people are faced with a choice between income and risk, they almost always choose income.
Young people, instead of investing in pension funds and investments, usually assume that projected higher incomes will be more significant in the future than the savings that they will begin to make now. But the reality is that you cannot become rich only because of one salary.
The right investment
Bikerstaff is convinced that you need to make your money work for you. And if you succeed, it is much better to do it at earlier stages of life, when you are not limited by the costs of raising children or the consequences of an unforeseen emergency. He believes that whenever possible Diversify your portfolio with assets that provide wealth over time. This includes stocks, property and extra length of service contributions.
Relationship
Entrepreneur Nick Bell, ohthe founder of several companies, including the digital agency Appscore, whose net worth is estimated at $ 170 million, advises the formation of social ties. is he believes that it is never too early to seek mentors. Perhaps this advice really works, as in recent years the entrepreneur has expanded his business with the help of the LinkedIn social networking site and the WhatsApp dialogue platform.
The WhatsApp Group, which he manages with other business owners with a value of over $ 50 million, provides instant advice. He himself, in case of doubt, asks a question in the group, and after five minutes answers begin to arrive.
His other advice is to be ambitious: “Think and act big. You must believe in yourself and show it to others. This approach does not mean that you should be arrogant or rude towards people, but it means confidence in your abilities.”
Meanwhile, you should be careful if you want to get rich quick. According to Bell, almost all such attempts are completely unsuccessful. He believes that in this case it is better to buy a lottery ticket or donate your investment to charity, because wealth is built through long-term business projects.
Nick Bell believes that people should never take themselves too seriously and enjoy the process of creating wealth without humor. There is nothing more discouraging than a meeting with someone who has succeeded financially and constantly reminds about this. This is the fastest way to lose family and friends.