A self-made millionaire shares his secrets to getting rich. What are 8 differences between rich people and ordinary people?

Recently, Grant Cardone shared in a CNBC column that he has met many millionaires in his investment career. He spent several years observing them and found that their thoughts on money are different from ordinary people. He realized the following 8 major differences. Where:

1. Will not diversify investments immediately
   Generally speaking, it is a good idea to diversify your portfolio by investing in different stocks, funds, and other investment products, but wealthy people often use all their resources to build their net worth, and then as their income increases Just started to diversify assets. For example, Elon Musk bet all the $22 million he made selling his first company, an online business directory called Zip2, on his next business, an online banking service called X.com. After X.com merged with PayPal, he earned $180 million from the sale of PayPal to eBay, and then used the funds to invest in Tesla, SpaceX and other companies.
2. Will not borrow money for personal desires
   Grant Cardone said that he would not accumulate debt to buy non-necessities such as designer clothes or luxury homes. Even if he could afford to pay the bills, he would not waste money paying interest. Even buying a house was paid in cash, so he never accumulated interest on his credit card. . Instead, he invests all the money he makes in the business to make more money, noting that in some cases, if a person plans to start a business, debt can help by giving the business earlier access to income-producing assets. make money.
3. Will not regard “buying a property” as the primary investment project
   Whether in Hong Kong or in the United States, many people want to have a comfortable home. However, Grant Cardone pointed out that the first thing wealthy people buy is usually not real estate. He believes that houses cannot obtain the same rate of return as investing in other places. As for the three houses he owns, he didn't buy them until he had enough cash.
4. Will invest in real estate to increase passive income
   Although real estate is not your first investment, investing in commercial real estate, which allows you to earn rental income after deducting mortgage payments, property taxes, and maintenance costs, is a great way to increase your passive income. And selling them is often easier than selling a primary residence, because when selling a home you have to find a buyer who expects to live there, but when selling commercial real estate as a profitable rental property you just have to find a buyer who expects to make a profit. Home.
5. Prefer to purchase in bulk
   They are willing to spend more time on each purchase to get better prices and save time on repeat purchases. This applies to business planning, such as signing a contract to purchase a large amount of supplies or equipment, and also applies to daily life, such as buying things in bulk that have no shelf life.
6. Can manage one's own network
   Grant Cardone said that most of the real estate he owned was traded with people he knew, because both parties had already established a relationship and they were confident in their ability to deal. He added that the better people know you, the more they will trust your talents and skills, which will lead to better opportunities, faster decisions and higher profits. Therefore, time and resources should be invested in establishing and maintaining yourself. connections.
7. always keep pursuing
   Grant Cardone also shared the observation of another CEO friend of his, who has worked with some of the richest people in the world. He said that what rich people have in common is that they are not satisfied with the past or the current situation, and are always thinking. The “next thing,” their belief that they can achieve more, helps them think deeply about future business ideas, inventions, investments, and other wealth multipliers.
8. won't waste time
   Rich people know that time is truly the only scarce resource and people cannot buy more of it. Therefore, they will make the most of their time, not obsess over every little detail of the business, and will effectively delegate to good and smart people to help them exchange time for money.