Want to build wealth in lean and flush times? It’s easy. Just tame your brain
By Richard Sine
Step 1: Tune out the noise
You felt rich back in 2008, and now you feel poor. You’re not alone: As of late last year, nearly 80 percent of wealthy Americans had consciously reduced or deferred their spending, according to the American Affluence Research Center. Even the very rich are pinching 20s: About three out of four millionaires with up to $6 million of wealth are cutting back, and 56 percent of people worth more than that are doing the same.
But it’s your economy that matters, not your neighbor’s or even the nation’s. If your job is hanging by a thread or you’re drowning in debt, then it’s time to cut back. But if your job seems secure, your credit is good, and you have funds in the bank, then it may be time for some risks.
Given that we’re speaking about things within the region of
Men’s Health: “The New Route to Rich” | Your Mental Wealth, “paying it forward.” You’ve heard of that, haven’t you? If not, do a web search for it and you’ll see what I mean.