Discover the secrets to accumulating wealth with insights on embracing a proactive money mindset. Leila shares transformative principles like the importance of speed in wealth creation and how frugality sparks innovation. She emphasizes ignoring advice from broke individuals and mastering your emotions around finances. Additionally, learn why having a financial safety net is crucial and the value of patience in decision-making. Buckle up for a journey through effective strategies for achieving financial success!
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volunteer_activism ADVICE
Ignore Broke People's Advice
Ignore advice from broke people, especially if they have less money than you.
Their financial advice might hold you back from achieving your goals.
insights INSIGHT
Money Loves Speed, Wealth Loves Time
Money favors speed and action, making quick decisions essential for accumulating it.
Wealth, however, requires time and patience, especially for irreversible decisions like investments.
volunteer_activism ADVICE
Focus on Making Money
Focus your attention on making money, not just saving it.
Redirect energy spent on cost-cutting towards revenue generation for higher returns.
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What the Rich Teach Their Kids about Money - That the Poor and the Middle Class Do Not
C.P.A. Sharon L. Lechter
Robert Kiyosaki
The book tells the story of Robert Kiyosaki's two fathers: his 'poor dad,' a highly educated but fiscally poor man, and his 'rich dad,' the father of his best friend who was a successful entrepreneur. It emphasizes the importance of financial education, distinguishing between assets and liabilities, and building wealth through investing in assets such as real estate and businesses. Kiyosaki argues that a good education and a secure job are not guarantees for financial success and provides practical lessons on how to make money work for you rather than working for money[1][3][5].
“If you want to make more money, you need to be able to resist urges to spend or to give them money.” Today, Leila (@LeilaHormozi) shares critical strategies for wealth accumulation, including the importance of speed in wealth creation and innovation through frugality. Learn from her journey to a net worth of over $100 million, as she emphasizes the need for a proactive money mindset to build and maintain wealth successfully.
Welcome to Build where we talk about the lessons I have learned in scaling big businesses, gaining millions in sales, and helping our portfolio companies do the same. Buckle up, because we’re creating an unshakeable business.
Timestamps:
(1:50) - Principle #1: Ignore advice from broke people
(5:24) - Principle #2: Money loves speed, wealth loves time
(7:25) - Principle #3: Money goes where attention flows
Build with Leila Hormozi 