ToastMaster CC1
2017.7.11
Last year there is a well-known saying set a small goal to make 100 million by Wang jianlin. But now I do not have even half a million. How to become a rich guy in your daily life when you don't have a rich dad. Maybe starting your own business is one way, but there is a small chance to be success like you win a lucky-draw. Today we talk about a way that is more likely to become rich.
First, the most important secret is compound interest law. The most powerful force in the universe is not atomic but compound interest is the opinion held by Einstein. Here I give you an example. Saving 60thousands a year, at the same time your money increase with a rate of 20% each year. Guess what the number is 30 years later. 100millions. The most tough period is the first ten years. You will find your payback is rarely, and you maybe doubt the power of compound. But hold on and you will find your wealth become bigger and bigger after 20 years. You may find out the amazing power of compound, and the power of time. Warren Buffett get most part of his money in the last 30years of his life. Wealth will become more step by step like your speaking English, you will not find much different when you finish cc5, but you will find big improvement when you finish ac10.
I show you a picture. The horizontal coordinate of the picture denotes years；and the vertical coordinate denotes the amount of money.
It is easy for most of us saving 60thousands a year. But how to let your money increase with a rate of 20%. it is a bit difficult. You can find the answer in the book Rich dad&poor dad. Pay attention to your own Balance Sheet. Spend the most part of your money to buy asset, like a house for rent, stocks and something you can get cash flow back. The most important thing is to find a slope long enough with wet snow, then your wealth will grow like a snowball rolling down the slope.
As you all know that, inflation will steal your money. So never let your money sleep in your account, even when you are at asleep. Money should flow in security 24H.
Another thing is Make good use of second-hand market. When I was in college I have a electronic dictionary, if I sell it when I graduate, I can get 50rmb at least. But now it is still in my house, and no one need it any more. You can not only sell unused stuff in second-hand market, but also buy things at a very cheap price.
In the last but not the least. Invest yourself . Buildup more competence, you will meet the best of yourslef in the near future. You should make more money not only by your career but also by your money. Don't just work hard, work smart. #End
