Why Do the Rich Keep Getting Richer?

Why Do the Rich Keep Getting Richer?

Why Do the Rich Keep Getting Richer?

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Rich people think differently. They have a different mindset. A mindset for gaining assets instead of liabilities. They work hard on their goals that they set and continue to achieve them.

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Living paycheck to paycheck is not something they do. So why do rich people keep getting richer? Here are 6 ways Rich people keep getting richer.

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One thing rich people have is an emergency fund. An emergency fund is enough savings that can cover you in an emergency.

They have an Emergency Fund:

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One thing rich people do that helps keep them rich is that they pay themselves first. They have money automatically withdrawn from their savings into their investments.

Pay Yourself First:

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Not Keeping Up  with the Joneses

Not Keeping Up  with the Joneses

Not Keeping Up  with the Joneses

Not Keeping Up  with the Joneses

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Well, this is how the concept of the Jones’ work. We want to keep up with our friends in buying that new gadget, that new car, new clothes, and buy lavish drinks and good food.

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Rich people do not spend money on those things. Those things come and go. Rich people buy assets instead of liabilities.

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Rich people work hard and early on investing money in order to let compound interest have the time needed to create even more wealth.

The Snowball effect:

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