When It's said mind your own business, it means to build and keep your asset column strong.
Once a dollar goes into it, never let it come out.
Think of it this way, once a dollar goes into your asset column, it becomes your employee.
The best thing about money is that it works 24 hours a day and can work for generations. Keep your daytime job, be a great hard- working employee, but keep building that asset column.
As your cash flow grows, you can buy some luxuries.
An important distinction is that rich people buy luxuries last, while the poor and middle class tend to buy luxuries first.
The poor and the middle class often buy luxury items such as big houses, diamonds, furs, jewelry or boats because they want to look rich.
They look rich, but in reality they just get deeper in debt on credit.
The old-money people, the long-term rich, built their asset column first. Then, the income generated from the asset column bought their luxuries.
The poor and middle class buy luxuries with their own sweat, blood and children's inheritance.
A true luxury is a reward for investing in and developing a real asset.
What most people do is they impulsively go out and buy a new car, or some other luxury, on credit.
They may feel bored and just want a new toy.
Buying a luxury on credit often causes a person to sooner or later actually resent that luxury because the debt on the luxury becomes a financial burden.
After you've taken the time and invested in and built your own business, you are now ready to add the magic touch-the biggest secret of the rich.
The secret that puts the rich way ahead of the pack.
The reward at the end of the road for diligently taking the time to mind your own business.
most people work for everyone else but themselves.
They work first for the owners of the company, then for the government through taxes, and finally for the bank that owns their mortgage.
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