7 secrets of rich people in Canada | Join rich people in the world

7 secrets of rich people in Canada | Join rich people in the world

March 4, 2020 Investing Money News 1
7 secrets of rich people in Canada Join rich people in the world

It is not a secret that the rich people in Canada or generally rich people in the world are far more different than the rest. From the way they dress to the way they conduct themselves, they can be easily differentiated.

Why are Rich people different from everyone else?

Why-are-Rich-people-different-from-everyone-else

A study conducted by the University of Toronto in 2016 suggests that you can see if a person is amongst the rich people in Canada or not. Simply by their face only. Without even looking at their dress code. Of course, the study is not limited to rich people in Canada only but the world over. The study concluded that rich people tend to look happier than anxious. It attributed to the fact that our faces tend to show-off our life experiences. Apparently facial features say a lot about us than we may think, rich people, are much happier and less anxious.

If you want to join the elite club of rich people in Canada or want your children to be rich there are certain things that you will need to learn or teach your children. Rich people have similar traits and these are what differentiate them from the rest.

So you want to be one of the rich people in the world? Then perhaps this article is what you have been looking for. Here are 7 things that rich people share.

Rich people in Canada are focus on gaining skills and capacity

Yes, rich people spend most of their time on that one thing that they know best. For example in his book Outliers, Malcolm Gladwell emphasis that one needs to spend 10 000 plus hours to become an Outlier. When calculating Malcolm’s 10 000 hours to be spent to become an outlier to an 8hr day job or study, you will need to spend roughly 4 years to be an outlier in a particular field this calculation excludes weekend breaks.

You may have seen it before that those who spend most of their time working on something end up achieving more than those who dedicate less time. If you want to earn those millions of Canadian dollars you definitely need to put the time and specialize. Specializing and investing time in what you specialize in will cut you above the rest.

Don’t go around doing everything that is out there. Instead, choose that one thing that you want to do and do it so well that it becomes part of your subconscious. In this way not only have you programmed your mind but you will be quicker to complete tasks and be more efficient.

To achieve specialization you will need to learn how to focus, this is easier said than done. However, if you have mastered this art then you are one step to become one of the rich people in Canada.

Rich people in the world invest in what they understand and know best

Investments can go wrong in as many ways as possible and there is definitely no surety in the markets. However one can use history and some knowledge to take advantage of the markets. Rich people invest first in knowledge.

Billionaire investor Warren Buffet spends 80% of his day reading while Facebook founder Mark Zuckerberg read at least 1 book per week. That’s at least a total of 54 books per year.

Rich people in the world invest in what they understand and know best

But why is reading so important? The answer is simple, you get to know more about a subject. Indeed many people invested in bitcoin without any knowledge of what bitcoin is. Even today people are investing in bitcoin. But most of them don’t really understand what is causing all the fluctuations.

If you really want to be amongst the rich people in Canada, invest more time in knowledge and understanding. Understand the company where you want to buy stocks. Go deeper int what types of products or services the company offers. In this way you will make an informed business decision rather than pumping money on sinking businesses.

Rich people in Canada focus on getting money at an early age

Why plan to be rich when you are retired instead of being rich in your 20s? Probably this is what a person who is planning to be rich will ask themselves. If you want to save up for retirement it is fine, you can save 10% of your salary and still be well off when you retire. On the other hand, if you can go all-in instead of putting away 10% of your salary in an annuity you can join that super league of rich people in Canada sooner rather than later.

Although this need to be well thought. Going all-in means that you are investing most if not all of your income after covering your basic needs. This will enable you to leave your job earlier to focus on your investments.

One of the secrets of rich in the world is that their purchases are long term oriented

When rich people purchase they think long term. They may look mediocre and their style may be dull to some people but they know how to plan financially. So people will ask so if he is a millionaire why is he driving Kea? Chances are they are getting value for their money on the Kea whenever they tend to utilize it. Remember the budget and efficient utilization of resources drive the rich. There is no point driving a Lamborghini if it will chow 30% of your net worth considering that there are service and maintenance cost, you will be better off in a humble automobile.

Arguably the greatest secret of the Rich is the way they build Networks

They say you are an average of five people you spend time with. If you want to be a programmer better spend time with programmers. Then you will be a better programmer and learn new programming skills. Networking is very important if you want to make money. The market is too broad and there are many opportunities out there and you cannot explore them on your own. Choose the market that you want to participate in and be part of a network. Knowledge will come flowing to you and you will create good relations with relevant people

Take advice from successful people

As hush as it may sound, it is as real as it gets. Rich people in the world and Canada included take advice from successful people. If you remember from the book THE RICHEST MAN IN BABYLON you will recall that Arkad went to the richest man in Babylon at the time who was Algamish to seek for advice about money-making and he himself (Arkad) later became the richest man in Babylon. If you want to be amongst the rich people in the world it is ideal to learn from those who have already made it since they have made more mistakes but were able to overcome them and make a success of their situation.

Rich people in the World use other people’s money to get rich

You don’t really need money to make money or maybe just sufficient money to get along. Your idea is your ticket to a rich life. To make it you need people to invest in your idea and yourself. If you are that good and have an idea that has the potential to make money then you just need to find an investor who will believe in you and your idea.

There is way more to learn is you want to be amongst rich people in Canada or if you are ambitions enough, to be accounted amongst Rich people in the world. Keep in mind that the more you learn the better you become. Getting wealth requires skills and mastery. Be versatile and feed your hunger for knowledge.

Don’t be dogmatic in the process of wanting to become rich because there is no set of rules to become rich.

Lastly, always seek opportunities to make money, check out some easy ways of making money here

 

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