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Rich people live by these 5 rules, self-made millionaire says: 'It's not just about cost'


Published on 2025-03-22 10:01:07 - CNBC
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  • Ramit Sethi has been teaching people how to get rich for nearly two decades. Follow these rules to build your wealth.

The article from MSN Money discusses five financial rules that wealthy individuals adhere to, according to self-made millionaire Grant Cardone. Firstly, rich people avoid wasting time, understanding that time is more valuable than money. They focus on activities that generate income or increase their wealth. Secondly, they don't spend money on depreciating assets like cars or gadgets, instead investing in assets that appreciate or generate income. Thirdly, they prioritize saving and investing over spending, often saving a significant portion of their income before any expenses. Fourth, they understand the power of leverage, using other people's time, money, or resources to grow their wealth. Lastly, they are not afraid to take calculated risks, knowing that high rewards often come with high risks, but they mitigate these through thorough research and strategic planning. These principles highlight a mindset focused on long-term wealth accumulation rather than short-term gratification.

Read the Full CNBC Article at:
[ https://www.msn.com/en-ca/money/personalfinance/rich-people-live-by-these-5-rules-self-made-millionaire-says-it-s-not-just-about-cost/ar-AA1BrPJ7 ]