This book will affirm to you one thing: Most of the rich are secretive and humble, and the media as well as many others do not know what they have achieved. I find this book valuable in its research method, it does not collect information about the rich appearing in the media, but instead surveys 11,000 individuals with high income or large assets in the United States. In addition, the author also interviews 500 millionaires with a net worth of over one million US dollars.

I will summarize for you the common characteristics of the wealthy through this book. Of course, if the wealth of these people is inherited from previous generations, then we do not need to read this book because most of us cannot choose our background or family circumstances. All the subjects of this book are mainly self-made individuals, starting from zero, they have earned money to invest, then started their own businesses. We can learn about these people to find common traits among them, to understand how they used money, how they earned money, and how they became rich, why they were able to achieve financial freedom quickly, even faster than those with higher incomes. In conclusion, this book will show us how they relied on themselves to become rich. I think there are many useful principles in this book, and some cases you may consider may not be entirely suitable for you. However, there is a consistent wealth-building spirit here, which is patience. Patience to accumulate wealth, not pursuing quick ways to get rich.

Nowadays, people are rushing to make money to get rich, but most do not have the patience to do something. We often lack patience, not patient enough to make money, even simple tasks like reading a whole book never have enough patience. Yet many people like methods, tips, shortcuts to get rich quickly. We need to know that patience is the foundation for all success. To be patient, you first need to learn to keep your mind steady and relaxed. The more impatient you are, the more it shows your strong desire, the desire for what you have not yet achieved. At this point, all your focus is entirely on scarcity, according to the law of attraction, similar frequencies will attract each other, and you will attract more scarcity to yourself.

Common Characteristics of the Wealthy

First, "rice scoop picks up fish sauce" is more free in capital allocation. I have mentioned this saying before: the money you save is considered your wealth. In the days of our ancestors, "rice scoop picks up fish sauce" was just a way of spending for survival, they needed to spend frugally to feed themselves and ensure their lives. But in our modern era, "rice scoop picks up fish sauce" is a way of spending based on income, specifically you need to have the ability to save and increase your capital, to be more free in allocating them. You can use this money to accumulate assets, invest, or temporarily escape the constraints of salary, or do the work you want. Although almost everyone understands this principle, or many people spend within their income range every month, here is something we need to pay attention to: the focus of this characteristic is not on how much you spend safely within your income, but on how much money you need to gain more freedom in allocating this money. The best way for us to do that is to increase our income, cut unnecessary expenses, save more money to invest and manage our finances well.

Second, avoid excessive spending, seize opportunities to invest. Through interviews and surveys, the author concluded that most wealthy people are very careful in their spending in life. In their spending, they calculate carefully with the purpose of having more capital to invest, and once an investment opportunity arises, they will quickly seize it. However, this careful spending will also bring us its negative aspects, it will make us too focused on money, and lead to reluctance to spend money when encountering good investment opportunities. Therefore, the key here is to reduce spending on unnecessary things, but not be afraid to spend money. Instead, use money where it can truly improve your quality of life. Don't forget to add more books to your monthly reading list, invest in self-development courses, and spend money on rewarding yourself with trips to explore different people and cultures. In cutting unnecessary expenses, those who live a minimalist lifestyle do this very well. I myself am also pursuing that lifestyle. In summary, in this second characteristic, you need to use less money, balance your own psychology to be satisfied with spending, save more money to prepare for investment.

Third, they believe that inner freedom is more important than showing wealth outwardly. What is the purpose of making money for you? Some people answer that it is to enjoy life. Enjoying life is not wrong, but enjoying it even when we do not have enough money. Having enough money here means having enough money to invest, to accumulate. I think that is just an enjoyment that makes you lose more and more of your own freedom. If the joy in your life is just about indulging, chasing material races, having what others have, spending on unnecessary things, then you will always be bound by money. On the contrary, if you earn money to prioritize achieving financial freedom, put money ahead, abandon the intention of trying to please others, or escape the material race with the world around you, then in the end you will have the opportunity to become someone not controlled by money.

Fourth, know how to manage time, energy, and money. The common characteristic of the three factors of time, energy, and money is that they are all extremely scarce, they all have limits. You only have 24 hours a day, your energy also decreases over time from morning to night, and your money in the short term is also limited based on your income. These three things are not something you can have immediately when you want them. Those who know how to manage them well will be able to combine their support to live and work more effectively. For example, if you manage your time better, the value you create will be higher, you will have the opportunity to earn more income. If you already have enough money, you can take a break from work for a while without worrying about income, you will have more time for yourself or focus on some side job. If you have a lot of energy and good physical health, you will also be agile and maintain high concentration longer, thereby improving the quality of your life and work. Similarly, someone may take 3 hours to complete a task, but you can finish it in just one hour, so you can have more time and the opportunity to increase your income. Therefore, just by managing one of these three things well, it is an opportunity for you to grow the other two, and when all three are equally important, your long-term financial accumulation will be easier.

Fifth, devote yourself to work, choose a career that suits you. Steve Jobs once said, "The work you choose to devote yourself to must be a job you are passionate about, otherwise you will not have the perseverance." It is true, when we do things we love, our focus, perseverance, and creativity will reach a new height. This will not only help you improve the quality of your work, but also help you achieve a sense of accomplishment. This is an invisible motivation that can help you constantly push yourself and make your mind stronger. But not everyone can find a job that matches their passion, interests, and in reality, we need to know that before finding a job you love, you should take care of the current job first. After all, survival is more important. In addition, if you are not capable of doing a job you do not like well, how can you ensure that you can do well in the job you like? When you can do well in a job you don't like, then I'm sure you will easily excel in the job you like. In conclusion, try your best with what is in front of you, because our future is uncertain, it will always change. Your diligence today will be the real strength you accumulate for tomorrow. When you encounter a job that you truly love, these accumulations will help you develop quickly in your work, as well as your finances.

After hearing all these 5 characteristics, you may find that the methods above are nothing new, nothing unique, and perhaps we have heard them too commonly. But perhaps that's why many of us do not value them at all. There is a huge difference between the successful and the ordinary, between the rich and the poor, lies in such small things. It may be ten minutes of waking up early every morning to meditate, an hour of reading a book after work, instead of watching TV, or saving a few million dong each month. These are the small differences that may not show results in the short term, but they will help you accumulate great power, and in a long enough time, you will see results and reap what you deserve. And remember that we do not need to envy the achievements of others, because they are accumulated from their past efforts, but we cannot give up our own future, because all tall buildings need to be built from the ground up. And because we only live one life, only once, but grasp money, energy, time, and limited resources to reach the freedom you desire.

Users who liked