8 LESSONS THE RICH TEACH THEIR KIDS

By SOPHIA BELL

 While most people find selling difficult, successful people understand its importance.

1.LEARN SALES

Your income is limited by your 24-hour availability, even if you don't need to sleep.Your own business has no boundaries.

2. ESTABLISH YOUR OWN COMPANY

The poor have the view that riches can only be attained via saving.Saving money is a wonderful thing, but it won't make you wealthy.If you want to be wealthy, you must work hard for it.

3.PURPOSE TO EARN MORE

 It's simple to raise your spending when you have more money. Many people fall into this trap.

4. AVOID GROWING YOUR LIFESTYLE

Alex Fergurson

Charlie Munger once said, "If it doesn't cash flow, just say no."Market fluctuations shouldn't worry you while investing for cash flow.

5. INVEST FOR CASH FLOW

An asset is something that consistently generates income for you.

 6.BUY ASSETS, NOT LIABILITIES

This requires sound financial judgement. Consider evaluating the danger.

7.LEVERAGE GOOD DEBT 

People who are unemployed desire titles to improve the appearance of their resumes so they may land better jobs. Rich people desire expertise and experience to expand their enterprises and possessions. 

8.FOCUS ON LEARNING, NOT TITLES