Things that rich people around the world follow
Everyone dream of being rich and also try to achieve that. However, most of the time, people do things that are exactly opposite of what rich people do. People, usually, invest more in products to feel that they are rich but rich people invest in experiences rather than the product. Having said that, to become rich one needs to first overcome four fears in life. The first one is the fear of unemployment, especially at the fag end of their career. The second one is whether you can live up to retirement. The third fear is that if children get the right foundation, which is possible with a good education. The fourth one being the fear of outliving one’s retirement corpus. Rich people have no worries about these four fears, as they have already taken care of. Hence, after overcoming these four fears, you can try the things that rich people follow.
Rich people take risk
One of the reasons why rich people are rich is that they take risks while investing. The risk is not in the vague form. They take a calculated risk. They know and understand where they are investing and how much risk they are taking for the probable high returns. Hence, it is always prudent to increase your willingness to take the risk. This is possible with experience, wherein you would get comfortable with the product and take informed risks.
Rich people save
As it is rightly pointed out that 'to save Rs. 1 you need Rs. 1 but to earn Rs. 1 you need to earn Rs. 1.30'. This is simply due to the taxes. Thus, it is always prudent to save Rs. 1 rather than earn Rs. 1. Rich people follow this principle. This does not mean that they do not spend at all. They do spend on that luxurious car and mansion. However, the thought behind their spending is an experience. They spend to gain experience. Those, who are not rich, spend to show they are rich.
Rich people prefer to be debt-free
Debt is okay at times of emergency but if not used wisely, it can wipe the whole country. So, it is sensible not to rely on debt unless it is necessary. Rich people often like to be debt-free and they do not rely on debt. Some people take loans for vacation and marriage. But it is not necessary to spend on it if it is beyond your capacity. It is always better to first save for them and then spend it.