segunda-feira, 8 de junho de 2015

The majority of self-made millionaires have a similar approach to earning money

The majority of self-made millionaires have a similar approach to earning money


"Keep all your eggs in one basket, but watch that basket closely." 
- Warren Buffett
This is one of Warren Buffett's most famous quotes. It is also one of the worst pieces of advice for anyone who is working on becoming rich.
My dad inadvertently took this advice with his own financial empire, and in one night lost everything when the main warehouse for his business burned down.
My dad's business was valued at around $3 million, which is north of $20 million in today's dollars. We lived in a very nice house in Todt Hill, one of the most affluent neighborhoods on Staten Island, New York. When my dad's warehouse burned to the ground, all of that wealth disappeared into thin air.
Our family struggled financially for the next 15 years, trying to recover from that nightmare; struggling almost daily to prevent foreclosure on our home.
My dad told me later in life that he wished he had his eggs in more than one basket. That would have been the smart thing to do, he told me.
In my five-year study of the daily habits of the rich and poor, I learned that most self-made millionaires generated their income from many baskets:

Read more: http://www.businessinsider.com/self-made-millionaires-have-a-similar-approach-to-earning-money-2015-5#ixzz3cTwNx3u9

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