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- Contains 7 key ideas
Money (2019) is for everyone who spends their life working hard for money instead of having money work hard for them. These blinks provide a blueprint for financial independence and enduring wealth. They explore how your ingrained attitudes toward money may be holding you back and set out simple formulas to help you master your finances.
Key idea 1 of 7
There’s absolutely no reason why you can’t be a millionaire if you have the right attitude.
There were 35 million millionaires in the world in 2017. That’s not a small number. So why shouldn’t you be one of them?
Millionaires come in all shapes and sizes, from rock stars to inventors, horse-whisperers to Slinky sellers. What they have in common is that they’ve all found a way to turn their personal wealth – their abilities, skills, or passions – into financial wealth. Even if you don’t quite believe it yet, you can do the same.
A lot of us are held back from mastering money because we believe some common myths about wealth.
One is the idea that money won’t make you happy. Well, the author wants you to know something: it absolutely will. Money gives you the ability to do things that will make you happy. The best things in life may well be free – being in love, spending quality time with your children, experiencing art or nature. But if you want to experience these things, you need a form of income that doesn’t rely on you working, so you have some time for them. The idea that everything great in life is free doesn’t make sense if you’re stuck in the office for 60 hours a week.
A second attitude to abandon is the common grumble that there’s just not enough money out there. The author used to buy a lot of designer clothes from a local shop. Once, at the height of the recession, he popped in for a browse. When he asked the owner how business was going, he received a grumpy reply. “No one’s got any bloody money,” the owner grouched.
But the reality is, the global economy is awash with money by whatever measure you choose. According to former Bank of England chief Mervyn King, there’s £80 trillion in the global economy and £150 to £180 trillion in stocks and bonds. Meanwhile, estimates suggest that there’s $8.2 trillion of gold out there. Even for modern crypto-currencies, you’ll see that there’s around $38 billion in Bitcoin alone.
Put simply, there’s easily enough money in the world economy for you to be a millionaire. So if you are stuck moaning about the lack of money out there for you, dump that attitude right now. You need to embrace an abundant view of money.
There’s loads of money out there. Are you going to take your fair share?