Tropical MBA: Entrepreneurship & Founder Lifestyle #764 The 5 Approaches for Getting Rich + Budgeting for Wealth
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Jul 18, 2024 Learn the five common strategies of wealthy individuals to build and maintain financial wealth. Explore the distinction between being rich and being wealthy. Discover approaches like high-energy risky strategies and strategic identity creation. Embrace cryptocurrencies for wealth-building opportunities. Explore comprehensive arbitrage and 'Old Man River' approach for steady income growth.
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Zero-Based Budgeting
- Implement a zero-based budget, tracking every dollar's purpose.
- Allocate funds intentionally for giving, enjoyment, and wealth building.
Equity and Delegation
- Prioritize acquiring equity in ventures.
- Delegate tasks to individuals with greater expertise.
Wealth Identity
- Cultivate a wealth-focused mindset, prioritizing asset acquisition over money or status.
- Align with long-term thinkers and industries.