How to get rich and stay rich

Developing a niche. Those in my study who had a unique expertise in a particular area were paid the most by their company or were able to charge more to customers or clients than their competition. You can develop your niche on the side, in the mornings, at night or over the weekend through self-study or by taking classes.

Creating multiple streams of income. About 65 percent of the millionaires in my study had at least three streams of income. This creates a hedge against failure and poverty. When one stream suffers, the others come to the rescue.

Being patient. An overwhelming majority, 80 percent, of the rich in my study did not become rich until age 50. It takes a long time to create wealth. You have to learn to be patient.

Taking calculated risks. Success requires calculated risk, which require you do your homework in order to gain working knowledge in some area and then take action on that knowledge. It might be real estate, investing in some private business, starting your own business, etc. Roughly half, 51 percent, of the self-made millionaires in my study invested their savings in a start-up or private businesses or they made investments in specific areas such as real estate.

Being optimistic and enthusiastic. Almost three-quarters, or 71 percent, of the self-made millionaires in my study were positive about life. They believed in themselves. Their optimism affected those around them and they became magnets for other success-minded people. This helped them in creating teams that would eventually help lead them to success.

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