You’ll want to read this. Scratch that. You’ll need to read Mark Cuban’s latest blog post if getting rich is on your To-Do list. It doesn’t get more factual than this.
For the benefit of those who can’t afford the time, let me help by summing his post up as best I can:
- There are no shortcuts to getting rich.
- Beware of deals being offered to you that sound too good to be true.
- Save your money. Every penny you can. Put your savings in 6 months CDs in the bank.
- Cut up your credit cards. If you use a credit card, you don’t want to be rich.
- Getting rich requires discipline.
- Be a smart shopper. The greatest rate of return you will earn is on your own personal spending.
- Have cash available.
- Invest in yourself by becoming knowledgeable about a business you’re passionate about. Or get a job in the business that supports it.
- Read everything there is to read about the business.
- Booms are when smart people sell. Busts are when rich people started on their path to wealth.
And if I could just add an eleventh point:
11. If you can’t afford the time to read Mark Cuban’s post, you really don’t want to be rich.