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10 Things Wealthy People Do That You Don’t - Business - Nairaland

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10 Things Wealthy People Do That You Don’t by TheAfrikan: 3:31pm On Nov 27, 2018
When you step back and take an objective look at the behavior of actual rich people, you will be surprised to find that more often than not they are not following those same patterns as those who are outwardly rich but inwardly poor.

10. Buy Second Hand
Rich people love antiques(which are not always particularly expensive) and second hand furniture, but most importantly they love the value of buying second-hand. Every penny that is saved by buying and re-covering a second-hand sofa versus a brand new sofa can then be invested or saved for a purchase that helps secure your financial future.

9. Buy Affordable Property
Fundamentally, rich people pay cash for their homes or have at least a fifteen percent deposit. And rich people tend to buy properties no more than two-and-a-half times their annual after-tax income. Rich people also tend to buy older pre-war homes and it is very rare for the affluent to buy a brand new home or have a home built.

8. Buy It For Life
Wealthy people will spend time investigating important purchases before they make them, to ensure that they are buying something that will last as long as possible and, ideally, retain some of its value.

7. Wait For Good Deals
The wealthy will wait months (and sometimes even years) to get the really best value they can for something. That is how the wealthy survive such chaosas the 2008 property crash. The people who were hurt most in that crash were the people who had bought houses they couldnt afford or used free money from the bank to build up a property portfolio in a get-rich-quick pipe dream.

6. Dont Retire
Rich people spend their lifetimes building up their wealth, by scrimping and saving, and following the other patterns described in this list. However, there is more of an incentive to not retire when youre rich: most wealthy men own their own business (small or large), and when you are self-employed you are far more motivated to keep working because you tend to be passionate about a business you own.

READ MORE: https://peptribe.info/read-blog/681

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