Amazing article on CNBC about NVIDIA guy. Read it yourself, and here are key takeaways:
- We can use wealth to distract us from our deeper issues by spending money on things we don't need, or worrying about losing our wealth
- I used to believe that people were inherently reasonable and good. This process taught me that I should not assume that people can be relied upon, or that other people will necessarily receive from me in the same way that I receive from others... I now never help people who don't ask me for help, and even then I only help them to the extent that they ask.
- The frugal blogger Mr. Money Mustache tells us that luxury is weakness.
- I've had a lot of experiences of people treating me very differently when they got a sense of how much money I had.
- Most financial advisors know nothing
- The most valuable information I learned was from Warren Buffet.
- most of the people on Wall Street either don't know what's really going on, for one reason or another, or they're unable to make the most effective decisions... It's hard for even hedge funds to make effective long-term choices, because they are always trying to keep their investors happy in the short-term.
- I highly recommend getting a therapist or coach to work with you on your money-related limiting beliefs.
- However, once you have assets you have to manage them, protect them, and maintain them. You need to worry about being sued, so you need insurance. You need to hire people to do stuff for you, and you need to manage them. Delegation is really hard.
- I recommend finding a guide who can help you to attain and retain the wealth you desire
http://www.cnbc.com/2017/03/28/i-was-a-multi-millionaire-by-27-heres-what-i-learned.html
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