The 7 step formula to make it to Rich People list

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The 7 step formula to make it to Rich People list

You too could make it to the Rich People’s list where you read names like Bill Gates ( USD 86.4 bln), Mukesh Ambani ( USD 31.1 bln), Azim Premji (USD 15.9 bln) and the likes.

Most of us may already be doing some of these 7 steps.

Simply notice, what specific steps are you missing out and focus your energies there.

Step 1. Work Smart

You must equally work hard and smart. One way is to invest your money in the stock market or retirement funds.

Step 2: Don’t be content with a steady salary.

Rich people opt for self-employment and choose to get paid based on results. So, if you are having a steady job, I am not asking you to dump the job immediately. Instead, from today, do your job as if you were self-employed. Soon this attitude will pay off tremendously.

Step 3: Consciously work to increase your earning, not just savings

Most people are focussed on discounts and living frugally they simply miss out on bigger opprtunities.

If you want to start thinking like the rich, stop worrying about running out of the money and focus on how to make more. Develop multiple streams of income.

Step 4: Don’t buy anything that you cannot afford

Living above your means will always keep you poor with so many EMI to pay.

Step 5: Start Investing

The earlier you start is better. Start by investing in your retirement savings or fixed deposits or recurring deposits and you will see huge returns in long run.

Step 6: Pursue Your Dreams

You must love what you do — that means pursuing your passion. Stop chasing someone else’s dreamsuch as your parents. If you do then, you may eventually become unhappy with your chosen profession.

Step 7: Step outside your comfort zone.

You must get used to uncertainty or discomfort. Overcoming fear and taking calculated risks are the key elements to achieving success.

Becoming a millionaire isn’t easy and the need for comfort can be devastating. You must learn to be comfortable while operating in a state of ongoing uncertainty.

Do share with me what steps are you already following in your quest of becoming rich.

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The detailed report is compiled using the proprietary research notes that I have written over last two decades.