Wealth building ideas (200+), for a good review or primer. (This will save a lot of time compared to reading 50 books.) Reader assumes all risk and responsibility for attempting to execute these ideas.
Table of Contents
Entrepreneurship and side-hustles:
- Publish eBooks and audiobooks that answer several commonly asked questions. Ebooks can be turned into audios or videos. Audios, videos, and eBooks can be turned into webinars. Then, you could hire and train coaches to teach your material in other locations. Make sure your product’s value is much higher than its price. Some people offer amazing free content to build their lists. Most Kindle eBooks that generate revenue tend to be from the erotica and psychological thriller genres.
- Outsource small tasks at Upwork, oDesk, crypto Twitter, or another outsourcing site. Or hire a freelancer outside those sites. You have to understand the task you’re outsourcing. This frees up time for you to work on more valuable tasks. There is the possibility the freelancer will waste your time or constantly try to upsell you. Be clear on the job description and make sure the freelancer agrees and understands the job.
- From the start of your online business, build an opt-in list. Quality freebies, joint ventures, and Hellobar (a pop-up that asks for an email address when a site visitor is ready to click the X) build lists. Mail Chimp is a free email list program. You can also use Aweber to manage your list. See if you can ethically find multiple uses for your opt-in list.
- Optimize your web-based business and digital products for smart phone, tablet and the metaverse. Depending on your business, you might soon want to optimize for space travel, mass migration, virtual reality, and the teetering of obsolete but still powerful institutions and corporate monoliths.
- Obey MJ DeMarco’s 5 Commandments for your business. Obey the Commandments of Need, Entry, Control, Time, and Scale. Read The Millionaire Fastlane, Unscripted, or The Great Rat Race Escape, if you haven’t already. Just click one of our books at your right and that’ll take you to Amazon.
- If you are at all a manager, ask yourself, what business could you turn around or help turn around? This can lead to fairly rapid wealth. Read about Lee Iacocca and Carl Ichan and other corporate turn-around pros. Talk to people in your neighborhood who modernized or revitalized floundering businesses.
- Make your customer’s experience with your business as seamless, easy, and pleasant as you can. Read about reverse engineering the customer experience.
- I saw a sign that said, “rent kayaks.” That could be a good idea.
- Again, build your list(s) even if you are not completely sure what you will sell or tell your subscribers. Treat your “tribe” well. See our Networking page.
- When everyone, the dumb money, people in hiding…everyone is in on a craze, do three things: 1) get out and 2) determine if, and what you should sell to the people in the craze. And it’s probably a side-business. 3) hedge against (unintended) consequences of the craze.
- Make an app that drives customers to your business location or to your web site. You could also make an app that complements your existing products. A stand-alone app probably won’t make you rich. (A few do, but most don’t.)
- Accept payments in bitcoin or another alternative currency. Gab.com and Facebook may launch their own cryptocurrencies someday. Monero is said to be the cryptocurrency of “the resistance.”
- Publish your Kindle eBooks to paperback. My paperbacks outsell my kindles 3 to 1.
- If investments are your vehicle to excess cash, you need to start an investments company, hedge fund or private equity firm. Owning stocks alone will only get you so much wealth. Look at the Forbes 400 and see how many hedge fund managers are billionaires.
- Remember there is no honor among thieves. (Per, King Solomon)
- Experiment with combining things differently. (Ball crawl in a pizza place, A PC in every home…)
- Your TV leaves you a rat in a cage, so kill it. Do some market research, or ride your bike, or read investment newsletters instead. Watch the movie ‘Idiocracy.”
- Establish a cashflowing business before you invest in rental real estate. Getting paid to work is not cashflow. Let employees handle sales, etc, while you look for deals.
- “Crazy beats logic.” IM said something like that. Be prepared to sell to irrational and emotional people.
- Pitch your potential business or investment idea to a kid for feedback. Or try the pitch to your MasterMind group.
- Read about “Growth Hacker Marketing,” especially if you sell digital products.
- Get your noggin joggin by reading articles about new web sites and start-ups. This may help you identify trends, and locate ideas you could use. (See our Links page for a list of business news sites and sites of interest to the personal finance space.)
- If you have enough hard to find practical information, publish a book. Charge a premium.
- You’ll get far richer selling shares, via IPO, of a business you built than buying common shares of a company. (H/t Robert Kiyosaki)
- Build (virtual) monopolies. Competition limits profits. (See, Zero to One, by Peter Thiel)
- Be first or be best (or both) to market. Maybe you can establish the first or best business, foundation, institute, for-profit business, or nonprofit.
- Solve bigger problems. There are many problems not limited to affordable education, clean energy, clean water, sanitation, housing, space travel, transportation, earthquake proof buildings, etc.
- Ask yourself: How can I serve more people?
- Ask yourself: How can I do more with less? (as Kiyosaki says)
- Ask yourself: How can I serve richer people?
- Ask yourself: Where do my target customers hang out online and offline? How should you advertise to your target customers? (H/t Ryan Holiday)
- I know of a guy who buys used medical equipment from hospitals in the U.S. and then sells used medical equipment to hospitals in the 3rd world through eBay.
- If you are in a developing nation, what could you sell to U.S., Canadian, and European customers?
- Make a video game or a series of video games (desktop or smartphone) that complement a business, industry, or academic subject.
- Buy large lots of a product, like 100 1 oz silver rounds, and then sell small lots with a mark-up.
- Never reveal any competitive or unfair advantages you have.
- If you see a business overseas or in a different city, consider starting a similar business where you live.
- What would you do if and when your products become commoditized? (Avoid cutting prices.)
- You might thoroughly research any niches you are an expert in or know about. What kinds of businesses are in each niche? Who leads the niche? How large by any measure is the niche? Are there conventions for the niche? Is there a major online “hub” for the niche? Maybe you can find a sub-niche or create a hub within the field. Research different “animals” or business models in your field.
- Ventures that you know or decide will be of short duration are Ok, as long as you have an exit strategy. Normies won’t get it and they’ll call you a loser when you pull the plug.
- Take a business with a lot of serious problems, like buying a new used car or getting a cab. Find the “pain points” of most customers and find ways to reduce or eliminate them. Or just make the product or service cheaper. This is innovation.
- An entrepreneur may find it worthwhile to make his business a meritocracy, rather than a Machiavellian or a frivolous social or political movement. You may find it helpful to read business autobiography as well as management gurus Deming and Drucker. A business owner would not lose his business/property in a meritocracy. Promotions, raises, benefits, etc. would go to employees with the most merit. An entrepreneur must have a dictatorship.
- Use Google Alerts to get all relevant web posts on industry or company/product complaints or developments you want to keep an eye on.
- Incentivize your employees, outsourcers, etc. to sell, and/or be productive. If your employees and vendors lose interest in the usual salary or whatever, other companies will advertise incentives to help them reach their goals. The great recession is over and inflation, overemployment and a labor shortage are simultaneously here.
- You may find branding more practical than SEO work.
- Attempt to reduce the number of steps for customers to make a purchase from your business. Make it easy to find your product(s).
- The entrepreneur might consider exclusive back-end products, services, and benefits.
- One might have an easier time getting best practices (essentially) while traveling far from home.
- It may be better to write copy for your customers, not the search engines.
- Learn to cloak affiliate links. (Make sure its legal in your location. Avoid having the aff program admin find out.)
- Use an AI service to conduct boring tasks and to help you analyze data.
- From the onset of a business, develop (simple) systems that someone can understand and run in your absence.
- Experiment with popcorn pricing, where it makes no sense to buy the small size.
Investments:
- Buy stocks with high betas. Run a stock screener, like the one Yahoo offers, and research high beta stocks that you think will do well. The beta of the market is 1. So, betas of 2 and up are considered high. For best results, buy during the close of a recession or correction. A stock with a high beta can collapse on you faster than a stock with a low beta.
- Buy closed end funds (CEF’s) below their NAV’s. You’ll probably earn high dividends. I doubt you’ll be able to hold CEF’s forever. So, keep an eye on them. If you don’t have, let’s say a million to invest, stick with the best growth stocks you can find.
- Look into currency trading. Currency trading is more transparent than stocks and interest is higher, and paid more frequently.
- Rehab foreclosures. Then rent them out or sell them (to hedge funds or foreign investors or just hire a Realtor).
- This one may take a long while… Buy bonds before interest rates are cut. (Look into foreign bonds.)
- Go to the CBOE site and learn about options. Remember, 90% of options expire worthless. But you are protecting the bulk of your capital from loss. You can insure big holdings with “long puts.” Or, you can speculate with “Calls” rather than large amounts of cash. One big winner could make all the difference.
- If you are really sure about your investment, and if you can afford the risk, consider using (debt) leverage.
- Gold (and uranium) streaming companies also have a very high profit margin.
- Good old value investing. When a good company is temporarily down, determine whether or not to buy shares. Make sure the company isn’t going to go out of business. If the company gets taken over, this should be good for you.
- Remember, Warren Buffet, one of the richest 5 or so people in the world, detests risk. Know what you are doing. Don’t randomly gamble. Ask yourself if it’s possible to overcome the odds. Find out how, if possible.
- One bright anon had the idea to start a crypto & defi pawn shop.
- If you’ve done your research, guard against being shaken out of a solid investment by commentators or (gold) marketers or trolls.
- Financial markets and math do not care what your demographic make-up is. Your bets just have to be right.
- Usually, an IPO will rise initially and then cool off. This is usually the best time to buy shares if you were already going to buy. Of course, buying before the IPO is good too 🙂
- Buy low and sell high is often repeated but not always executed. Buy into panic and fear if you are accepting of the risks. if you and your team are informed, make a trading plan. A decent plan should keep you from getting whipsawed. I wouldn’t second guess guidance from qualified advisors.
- Software and Internet companies (and REITs) tend to have the highest free cash flow.
- Farmland, anywhere in the world could/should be an excellent investment. The demand for organic food is growing.
- Remember, buy quality investments at bargain prices. This requires patience. This may require a good team. This requires you to look at many deals.
- You can learn everything a fund manager or financial writer has learned. You might consider reading Capitalist Exploits for a while.
- Stocks and bonds seem very highly valued. That leaves cryptocurrencies, commodities, certain consumer goods, and collectibles to speculate in. Save up for your dream home 🙂
- Live in a plex or apartment complex that you own. This frees up more income for other investments. This is called house hacking.
- Be aware of any type of major change occurring that affects you or your investments or employment.
- Research new retail chain stores in person and check their financials online.
- Determine whether to buy gold/silver miners when said miners are oversold.
- Read Rule #1 Investing.
- Keep in mind most penny stocks are a total rip off. Also keep in mind that some traditional mega companies aren’t going to get much bigger.
- One day, the system of printing of money and issuance of debt will collapse. But in the meantime, the bears are wrong all the time. I’d invest with the Fed for the time being. (H/t Jim Cramer)
- Look for asymmetrical risk/reward. Determine if your business or investments reward is greater than the risk of capital loss.
- Rather than buying an oil stock, why not invest in oil exploration directly?
- For real estate, can you enhance a location?
- How could you profit from a debt bubble, a crisis, or an emerging trend? Try to think of more ways than buying shares at the bottom. Determine which shares to buy. Write down and watch your potential picks.
- Remember, in real estate, they say your profit is made when you buy.
- When deciding between capital gains or cashflow investments (or both), remember your income stream from cashflowing investments could go up nicely over time. That’s an often overlooked concept. (H/t Kiyosaki.)
- Don’t invest exclusively for dividends if you have little capital.
- Familiarize yourself with financial statements, like company profiles on Yahoo Finance, if you don’t understand them. Know what the price to earnings ratio, price to book ratio and other ratios and figures mean. Read 10K and 10Q reports from your employer (if publicly traded) and companies you own.
- If you read a report or newsletter about a speculative stock, be sure to research the company’s competition. Compare the 10K and 10Q to more widely held or more highly rated companies. You can find 10K and 10Q reports at Yahoo Finance or your brokerage.
- Insider buying is a good sign, not a guarantee, but a good sign. Stock buyback plans and investments by funds are a good sign too. At Guru Focus, you can get a list of stocks with insider buying, guru buying, and a stock buyback plan. Those odds are better than most. Give your selections up to a year to perform.
- Sell NFTs for fundraising.
- Wall Street Bets groups are fun, but use caution.
Mindset:
- Failure by testing and experimenting (like Edison) should be perfectly OK. But failure through recklessness and sloth can be ruinous.
- Invest in and bet on yourself. Statistically speaking, you’re an undervalued asset.
- Your theory, prediction or bet is wrong until proven right. (Think Gates in the 1980’s, Michael Burry in 2005, and the Bow Tied Jungle on 2035.)
- The more complex the idea, the tougher the execution.
- Don’t accept responsibility without authority.
- The greater your sphere of comfort the greater wealth you can attain.
- Examine your excuses. Are they lame? What can you change? How would you change? Are you listening to too much idiotic commentary? Can you replace any self-defeating beliefs? Are you spending time with the wrong people? Do you want to live your dreams or your excuses? Do you want to live your dreams or your fears? (As Les Brown says.) Who’s standards are you using?
- You could endure extremely tough work or training one minute at a time. (h/t Dan Bilzerian.)
- Guard your self-esteem. Don’t listen to spineless country comedian.
- Learn about universal laws. (To get started, see our Commandments and Glossary pages.)
- Take inventory of your strengths. Then keep building on your strengths. See our resources page for a few self-assessments.
- Don’t worry about Hollywood or the Pravda Press. Worry about large numbers of customers and your biggest customers being pleased.
- Don’t automatically ask for sources. This might be an unnecessary delay. If it’s a “tip” for speculation, you might limit your bet or use a call option. If the people in your life say, “It’s not to discredit your source,” it’s to discredit your source. There are several venues, including school where you might not flash knowledge that isn’t prescribed by the people who start useless wars, owe $30T, and who have no plan for curbing homelessness.
- Immediately investigate or test hunches, theories, and leads. Write down ideas while they’re fresh.
- The race to wealth is a marathon, not a sprint.
- You can make a small group seem like a large group. One can make wildly successful small groups. See our Networking page.
- Look at the bigger picture for the right answer.
- If you believe your original thesis is right -> strong hands.
- What work can you get paid to do that overseas outsourcers, AI, robots, consultants, and other entrepreneurs and their employees can’t? (See: The StartUp of You.)
- Work to get and keep positive momentum.
- The results YOU get matter more than things like worry, concern, fear, and so forth. Keep the main thing the main thing.
- Look for mistakes competitors and market makers are making. (Arbitrage)
- Learn every aspect of your job/ business/ niche/ industry. (H/t Brian Tracy)
- Decide what you want. What will the what-you-want give you? How will achieving your goal make you feel? Anticipate the reactions of others if/when you get what you want.
- Be realistic in your expectations surrounding college degrees, progressive credentialism, and earning occupational licenses. You may want to observe “unqualified” people entertaining, connecting buyers and sellers online, etc. without advanced degrees or red tape.
- Try to determine how accurate any given data is. At least keep in mind sales reps and advertisements can fib a little. Solid plans with accurate information are important, but execution is king. (MJ Demarco) Don’t waste time defending data you gathered yourself when you don’t have to.
- Get out of bed or the shower to write down a good idea? Absolutely. Listen to your superconscious mind.
- There’s something to be said about stoicism.
- Hang out with the best. Work for the best (which hopefully is you). Hire the best. Appreciate and observe the best. Collaborate with the best. Give your best. Inspire your MasterMind group to be their best. Become the best you can. You won’t regret it.
- Don’t just aim for cash, have specific written goals in mind. What will the cash buy? What kind of person would you like to become in generating a fortune? How long will the cash last? What will be your next source of income?
- Seek new perspectives, and realities. This helps build rapport, and good will. This also expands your circles of knowledge. Building rapport leads to greater harmony, and then possibly money. Good will can be as good as cash. Understand people like billionaires, industry leaders, your role models, your target customers and typical customers. See the perspective of people you’d like to do business with.
- Model entrepreneurs who do or have done what you must do business-wise to succeed. How did your role models handle critics? How did they finance their business or the expansion of it? What is your role model’s work space like? What is his/her self-talk like? What are his/her routines and rituals?
- Warren Buffett said, “Public opinion polls are not a substitute for thought.”
- Tai Lopez says to invert your thinking. What could you not do in order for your business to fail?
- A good question to ask is what would prevent you from being ruined by wealth? This could eliminate self-sabotage.
- Do not let money control your emotions. Confront personal cognitive dissonance. (Per, Buffett and Munger).
- You probably want cash and cash flowing assets more than you want credit, status, recognition, etc.
- Pay attention to your agenda, not the agenda of the news and entertainment media. Be concerned with your balance sheet and income statement more than some crusader’s agenda. Helping good customers with their agendas helps you.
- Remember what Kiyosaki says: Rich people build networks.
- You might want to avoid advice from people who lose nothing when you lose taking their advice. Make sure your MasterMind is absolutely committed to each other’s success. You might want to eventually learn what your boss and financial advisors know. (H/t Robert Kiyosaki)
- Keep in mind you can/could make a huge difference to many people. Again, read The Millionaire Fastlane and note “The Law of Effection.”
- Cut losses short. Let winners run. This saying applies to many things in life.
- Learn as much about your field or dream field as you can, even if you have no start now. Remember, luck is where preparation meets opportunity.
- Don’t wait for the government with its $30 trillion-dollar debt to step in and fix everything.
- Again, find work you enjoy.
- Get in the habit of making lists of excellent and workable ideas. (H/t The GoGo’s)
- As Charlie Munger says: increase your worth-a-damn factor. (H/t Tai Lopez).
- During some quiet and reflective time, ask yourself what you’d do if you had to raise capital or start a business or where to invest a windfall.
- Jim Cramer says, “Don’t turn an investment into a trade and don’t turn a trade into an investment.”
- Andrew Tate’s championships don’t take away from Tom Brady’s Super Bowls. We sometimes see scarcity where there is abundance.
- How could an entrepreneur overcome competitors who adhere to the 5 commandments and the other rules at our commandments page? Considering AI, this becomes important.
- Understand and be able to identify shell games.
- Understand smash and grab. Someone drops alpha. Crook copies alpha. Crook leaves bad reviews of, complains to supervisor of the person dropping the alpha.
- Have a damage control plan for every bad decision a client or employer is contemplating.
- Getting a real name is a plus. But so is noticing patterns, trends, routines, gestures and talking points.
Strategy and economics:
- If/when your country’s or the world’s political/economic environment changes, you’d be glad if you 1) were exceedingly competent at all functions of the business 2) you had only a handful of employees and vendors 3) you have little to no bad debt, 4) you sell necessities, 5) you have a second and third passport.
- Remember: scale x value = wealth.
- Read about the law of diminishing returns. Too much of a drop in a nation’s currency doesn’t only have the effect of increasing exports. Surrendering “territory” doesn’t just conserve resources and buy time. There can be very big underlying problems beyond the issues of trade or political or military conflict.
- Take company after company public and sell it (serial entrepreneur) or find motivated business sellers after motivated business seller and acquire businesses.
- Networking is making a comeback. (See our networking page.)
- Identify and disrupt your adversaries’ shell games.
- Determine how to benefit/profit from decentralization.
- Tech companies cannot manufacture authentic street preachers.
- How could straw men, teachable moments and PR fit together?
- One might consider crowdsourcing to raise money for a business / business product.
- Study and/or become an activist shareholder.
- Hedge funds diversified into specialized ETFs. What profitable space could you diversify into?
- Remember, the trend is your friend. What trends help your planned investments and businesses? Look at opportunities with the most trends in their favor. Use math and common sense. Be wary of BS, or Blue Sky thinking. Look into trend stacking for products.
- Why did/does Elon Musk want Twitter? For control of the algorithms.
- Look into the concept known as a VRIN score. VRIN stands for Value, Rarity, Inimitable, and Non-replaceable. Honestly analyze your VRIN or hire a consultant to analyze your VRIN.
- Competing with everyone pays the least. Creating a market pays the most.
- Don’t waste any resources casting pearls before swine. If the government requires you to volunteer, or to mingle your business or personal affairs with swine, or anything similar, go on strike. (See, Atlas Shrugged, available here.)
- Of course, there is mass production and 3D printing. There is just in time manufacturing. You can also build a prototype when you find buyers (demand).
Questions:
- Hopefully you can honestly answer “yes” to the following questions.
- Can you control both or all sides of a market, enterprise or debate?
- Can you immediately identify fake news, gas lighting, smoke screens, false claims, etc?
- How quickly can you absorb new information?
- Can you lead and inspire your team and customers with consistent action, not just words?
- Do you maintain an internal locus of control?
- Do you use spare time wisely?
- Think of the worst ways to go about reaching your goal and don’t do those things.
- Are you surrounded by people better than you?
- How well do you know what yourself and your team are and are not capable of? You have to have an idea of the best and worst they can do for / to you.
- Do you have a personality pleasing enough to pleasantly pass a little time with customers or stakeholders? (Napoleon Hill)
- Can you and do you follow through? Do you normally aim a little beyond your target?
- Do you understand your niche well enough? Do you know the mind of your target customers?
- Can you harness and (re)direct strength and power in an optimal way?
- Anti-fragility again. How quickly and soundly can you respond to bad news?
- Are you good at working independently?
- Can you work two remote jobs? (A.k.a., overemployment.)
- Should you use VA benefits to buy a 4-plex?
Skills and traits:
- Being highly adaptable and possessing the ability to rapidly recognize patterns is a plus.
- Several noteworthy people claim detecting B.S. is an essential skill.
- To get rich, you need to get control over your emotions and your behavior.
- Non-traditional education, and practical experience will doubtlessly prove more valuable than theory, thought, and indoctrination in school.
- Many billionaires have excellent photographic memories. (H/t Martin Fridson)
- Don’t be reluctant to spend time mastering a skill.
- Is there something you could try to do or make for money that you could be the top 1% at? Consider the first couple chapters of the 4HWW.
- Take it and flip it on ‘em. Look up what Richard Branson did when he initially called Virgin Cola an aphrodisiac.
Using AI:
- Explore and experiment with many prompts for rewriting any type of text or web copy.
- Have ChatGtP narrow down tweets and posts that are more likely to go viral.
- Use AI to tailor your message to your target audience/end user.
- Use AI to craft a winning resume.
- Use AI to edit videos.
- Use AI to narrow down ETF and mutual fund choices based on your criteria.
- Automate your data entry, SM posting, to-do lists, or contracts using Zapier or another AI program.
- Use Rose to visualize data via charts.
- Use AI to explain code (i.e. Python) to you.
Misc:
- If you’re a Libertarian, the Biden Administration might give you cash and weapons. (H/t Spike Cohen.)
- After communism ended in Russia, MLMs became huge business.
- One competent economist (Aaron Clarey) recently said that “sanity is the future of wealth.”
- What do you really get paid for? What is the most profitable thing you do? Do an 80/20 analysis and focus your time and energy and other resources on the important things. I am not saying to ignore defense.
- Study anti-fragility. Are your stock holdings, products, and companies anti-fragile? Do criticism and attacks or shocks make them stronger? Determine how to enhance your overall anti-fragility.
- Play around with the math. Apply probability to things like social psychology or politics. Look at the news from sources you trust and like and identify industry or economic trends with intention of finding winning stocks and/or entrepreneurial opportunities. If word of your plan gets out, be prepared for fake news and trolling.
- For inspiration, mindset, and economic threat analysis, read Atlas Shrugged, by Ayn Rand.
- Know and understand displacement. What if you’re shaken out of the right investment, answer or course of action? You and maybe others become demoralized.
- You can be right and win. If the question is phrased be right or win, it’s basically displacement. You can be both. Don’t feel bad because you held on to a winning course of action despite strong pressure.
- If you lack a high IQ, you could use cunning or a large group to further your goals. If your work ethic is poor or if your intentions aren’t good these may not work. (H/t @Illimitableman) You might operate where you’re strong. If crazy persuades a logical crowd, watch out!
- What are the most profitable uses of your time, energy, and resources right now? You can start small and level up in the near future.
- Observe how hedge funds use artificial intelligence to help make better trades. What new tech should you consider using?
- Prevent and point out financial and material waste for your employer. Help your employer save money and stretch their dollars and they may help you in return.
- Keep in mind technology and economics pretty much will overwhelm and transform politics, labor unions, cultural traditions, long standing industry, and any resistance these societal segments offer. Keep in mind profiting from investing in disruptive technologies can take several years.
Using new technology in your business might not take long to implement at all. Definitely determine whether to try out new technology, software, etc. in your business. Would your customers and/or shareholders mind if you went green? - Just like the ACA, TPP, and Kyoto could never happen, a bail-in (MyIRA) could never happen. So, I’d have cash, bitcoin, etherium, rental properties, farmland, heirloom seed, and investments outside the U.S.
- If you’re smart, get paid in BTC/ETH to explain to normies how to do something others won’t/can’t.
- A scalable side-hustle might be better than stock and crypto speculation.
- Taking action and doing good work tends to increase opportunities.
- Quit any wealth building strategies that are not helping you financially.
- Don’t accept financial advice from desperate, angry, frightened, or irrational people. Generally speaking, avoid people who constantly bait or rudely troll honest harmless people. There are also people who work to keep certain jurisdictions “ungovernable.”
- Patience and self-discipline are key to finding and executing the best deals. (i.e. keep your hands off your emergency fund. Don’t listen to an excited salesman, have realistic expectations, etc.)
- Every mom used to say, “If everyone else jumped off a roof, would you too?” This question applies to personal finance, business, employment, investing, and health.
- In Wall Street, Gordon Gekko said, “Money never sleeps, pal.” Robert Kiyosaki’s books say, “Money has velocity.” Study the movement of money. Follow the movement of markets and test your theories & hunches.
- If you are concerned about being displaced by robots, you could learn one or more robot programming languages (WSFN, EusLisp, Logo, etc.)
- Cooperate, collaborate, and share answers with your spouse, MasterMind, forum, team at your work, etc. (But don’t be a sucker.) Pretend it exam time in school, but cooperation is allowed. 🙂
- Hire a bookkeeper. (H/t Robert Kiyosaki)
- Prepare for opportunity (or other events, goals, etc.) while it’s easy.
- Are you able to work 60-80 or more hours per week?
- Make a list of times when you reaped the biggest windfalls. Strain your brain. Which of your ideas could you do again and again? Compare notes with your MasterMind group.
- Learn the definition of words related to subjects you want to know. As Kiyosaki says, “Words are tools for the brain.” “Words are free.” If you feel you need to upgrade your vocabulary, see our Glossary
- You will generally perform better, if your health is good. Visit our Health is Wealth page (see Financial Videos tab above), and see if that info helps you.
- Remember, he who has the gold makes the rules.
- Break Parkinson’s Law, by not spending money or taking on debt in anticipation of future income.
- Ask yourself if your proposed venture, investment, course of study, etc., is really the most valuable (highest reward) opportunity. Are there better opportunities for you? Make sure you have sufficient demand before you launch a new product. Don’t major in minor things.
- Be very wary of crooks, trolls, and idiots angling for your savings and seed money. Sometimes the scandal is what’s legal.
- If you’re going to work for someone else, work where there is incentive for excellent performance.
- Banish all excuses for not starting small or in the hole.
- Take a look at our Financial Education Videos page for more ideas.
- Machines and scale decrease personalization but should/could increase income. Conservatives finally have astroturf (a machine) like Tammany Hall. But what they lack are industrial titans, financial barons and teachers who are committed, honorable, relatable and have superior skill. Whether you build a business “machine” or a political “machine” you’ll get more crazies with false accusations the more successful you or your org becomes.
- See our Answers page to see a guide on decision making, a video on scale and a video on *gasp* the first trillionaire.
- To secure your cryptocurrency securely, see our Crypto & defi page. Unless you have the keys, the coins belong to the bank! New crypto regulations make me suspect cryptocurrencies won’t be banned. Go to the Crypto & defi page and get a Ledger from us.
- Don’t niche down for no reason.
Did you enjoy this list? Feel free to send the link to a friend.