12 Money Truths that No One Talks About

- Thread -
1. Your Partner is the Biggest Financial Decision of Your Life

86% of millionaires are married and/or have a partner.

Find a partner who is:

- Frugal
- Like-minded
- Supportive of your money habits

Marry someone with a winning financial mindset.
2. Choose Your Friends Carefully

You are the average of the 5 people you hang out with.

You'll see that you:

- Think the same thoughts
- Have the same goals
- Lead similar lives

People can either inspire you or drain you.

Choose wisely.
3. Invest, Don't Just Save

Inflation will nibble away at your money's purchasing power.

Don't stash your cash.

Invest in:

- Yourself
- Real estate
- Your network
- Stock market
- Your business

Invest consistently and you'll see results.
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4. Outwork the Competition

To outwork the competition, you must believe in:

- Yourself
- Your team
- Your values

If you really want it, you'll find a way.

If you don't want it, you'll find excuses.
5. Understand Basic Financial Concepts

Lack of financial literacy cost American adults $415 Billion in 2020.

Financial literacy helps you:

- Earn
- Save
- Build
- Invest
- Protect

The rich become and stay rich because they understand the financial system.
6. Live Beyond the Comfort Zone

The most dangerous drug is comfort.

Push yourself to:

- Achieve more
- Learn more
- Grow more

The greatest achievements never came from comfort zones.
7. Change Your Mind, Change Your Life

88% of millionaires are self-made.

Anyone can win, if you:

- Change your habits
- Change your friends
- Change your mindset

If you want to be like the wealthy, you have to think like the wealthy.
8. A Healthy Mind Lives in a Healthy Body

76% of millionaires exercise 30 mins daily.

Exercise improves your:

- Judgment
- Mental health
- Physical health
- Critical thinking
- Learning retention

You can't enjoy your wealth if you're in bad health.
9. Protect Your Purpose

Don't be a slave to money.

Work for your purpose:

- Work to grow
- Work to build
- Work to Learn

Protect your purpose and your purpose will protect you.
10. Buy Used Cars, Not New

Only 23.5% of millionaires buy new cars.

Here's the benefit of used cars:

- Lower depreciation
- Lower insurance cost
- Low-cost financing options

Most new cars depreciate in value.

Don't invest in negative returns.
11. Ivy League Degrees Don't Matter

29.9% of billionaires didn't go to college

62% of millionaires went to state schools

Here's what matters:

- Grit
- Curiosity
- Discipline
- Determination

Experience is the greatest teacher.
12. Readers are Leaders

85% of millionaires read 2+ books per month.

Books offer advice on:

- Personal development
- Entrepreneurship
- Investments
- Business
- Family
- Life

If you want to succeed, you have to read.
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More from @The_MMW

10 Oct
10 Psychology Lessons from "The Subtle Art of Not Giving a F*ck"

- Thread -
1. Change is the Only Constant in Life

There's no such thing as "finding yourself."

You are always evolving and changing with your surrounding situations.

You'll probably never really know who you are - and that's ok because you'll always be discovering and learning.
2. Failure is Necessary to Grow

Failure teaches you and helps you grow.

Abraham Lincoln lost eight elections, twice failed in business, and suffered a nervous breakdown before becoming President.

Failure and success are not opposites.

They both are parts of the whole.
Read 12 tweets
5 Oct
10 Money Hacks they Don't Teach You in School

- Thread -
1. The 8th World Wonder

Albert Einstein once said:

"Compound interest is the 8th wonder of the world."

It works best when you:

- Invest consistently
- Invest as much as possible
- Maintain a long term mindset

Don't work for your money.

Let your money work for you.
2. Read More

85% of self-made millionaires read 2 to 3 books a month.

Why reading is good for you:

- Learn from the greatest
- Learn from successes
- Learn from mistakes
- Think like the best

Readers are leaders.
Read 14 tweets
3 Oct
11 Psychology Lessons from the Book "How to Win Friends & Influence People" - Dale Carnegie

- Thread -
1. Talk in Their Language

When President Roosevelt expected a visitor, he studied what the visitor was interested in.

Pay special attention to the other person's interests so you can talk in their language.

When you talk in their language, you build a stronger relationship.
2. Never Tell Them They're Wrong

Don't call out mistakes directly.

Do this first:

- Praise them
- Show appreciation
- Talk about your own mistakes
- Indirectly call attention to mistakes

Always talk about your own mistakes first before pointing out someone else's mistakes.
Read 13 tweets
28 Sep
17 Ways to Maximize Your Wealth

- Thread -
1. Pay Yourself First

Society tells you to:

- Spend
- Consume

Instead, use your paycheck to:

- Pay off credit debt
- Invest for your retirement
- Add to your emergency fund
- Add to your investment portfolio

Never live bigger than your paycheck.

That's financial suicide.
2. Build Multiple Income Streams

Don't rely on just 1 income.

Income streams include:

- Earned income
- Rental property income
- Second business income
- Active and passive income
- Dividends and interest income

Never put your eggs in 1 basket.

Diversify your income now.
Read 21 tweets
26 Sep
10 Critical Lessons from "Rich Dad, Poor Dad"

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1. Make Your Money Work For You

The rich aren't employees for long.

To become rich, you need to hire others for jobs, not be a job holder.

When you believe a job is the only way to earn money, you become trapped.

A business can give you a lasting income stream.
2. Control Your Emotions

All humans have similar emotions.

Avoid giving into fear, desire, laziness, poor habits, and arrogance.

It is how you choose to handle these emotions that separates the rich from the poor.

Control your emotions before they control you.
Read 13 tweets
24 Sep
11 Habits of Highly Effective People

// Thread //
1. They Take Action

Effective people act fast and act often.

They typically start before they even feel ready.

Instead of making excuses or thinking of reasons why not to start, they simply do it.

Without action, a plan is just a dream.
2. They Read

Most effective people read to gain knowledge and more insight.

Your brain is like a muscle and reading is your brain's exercise.

Read a book for 30 minutes a day and you will see your life change for the better.

If you want to succeed, you have to read.
Read 14 tweets

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