New Year Resolutions are not a new thing. Every year, millions of people make plans to change their life for the better. We at World's Rich People would like to share with you the best resolutions that you can ever make. Having research and look into the life of many billionaires and millionaires all over the world, we realize that following their examples will enrich your life and also the lives of those around you.
1. Be Prudent and Save Money
In a culture that loves to spend money and have instant gratification, the habit of being prudent and saving money for rainy days are long gone. Only a handful few will ever think about their financial future. The truth is, unless you are a rich heiress or heir to a business empire, you will run out of money sooner or later. One of the greatest investor in the world, Warren Buffett who is worth $55 Billion is known to be extremely prudent when spending money. He never wastes unnecessary money and is also known to search for bargains when buying coca cola. No wonder he is so rich today.
2. Own Your Own House
There is some truth in the saying "Own Your Own House". Every man (or woman) should be a master of his own home and own his own house. There are many benefits of having your own house. First of all you have a safe place to go home every night. Secondly, you save on rent. Thirdly, it forces you to save money to pay the interest on the house. Fourthly, your house will act as a hedge against the effects of inflation and last but not least you get to own your very own property. House prices will always rise except in most exceptional cases while your car will always depreciate in value. Be wise!
3. Buy Lands or Real Estate
Once you own your own house, you should learn to invest in lands or real estate. Real estate covers houses, shops or lands. As the world population increases, the need for land will increase. The real estate that you own will most likely increase in value. At the same time, it can generate rent or income for you to pay off your loan. Never underestimate the value and wealth effect of real estate. You just need to look at the success of Donald Trump, Robert Kiyosaki or Larry Ellison who is one of the largest landowners in America to know that Real Estate really does generate wealth.
4. Build a Business
Why would you want to build a business? Well, the simple reason is that if you really want to be rich and impact the lives of others you need to have a thriving business. It is never easy to build any business. There needs to be lots of hard work, sweat and perseverance but the fruits are sweet. Ingvar Kamprad who made $52 Billion in his lifetime started IKEA selling low cost furnitures and today it is a multi-billion business. Not only this company generate fortunes for him and his family, it employs thousands of people all over the world enabling others to participate in the wealth multiplication effect that great businesses always have.