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Mindset Billionaire

Discussion in 'General Business' started by robertbanking, Aug 13, 2023.

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  1. #1
    Hello you very intelligent and amazing people that make up this forum. I truly hope you are doing well and in good spirits.

    I have always run small businesses with 1 - 2 people mainly based in web marketing, which i enjoy. However i have always dreamed of scaling things up and becoming a billionaire. I would like in the future to help put more money into the early detection and cure of cancer. I kindly wondered please if anyone could recommend any books please on how to become a billionaire? I know the whole mindset has to be different and if i remember correctly even Warren Buffett did not simply buy stocks at low prices, he negotiated deals with businesses through his reputation. I am interested to really read up on the real work and mindset required to become a billionaire. If anyone kindly had any thoughts on this i would be forever grateful and thankful for your support.

    Sending you lots of good wishes and i hope you have an amazing life and achieve all your goals. All the very best to you and take care.
     
    robertbanking, Aug 13, 2023 IP
  2. sarahk

    sarahk iTamer Staff

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    #2
    1. The millionaire next door
    2. Rich Dad Poor Dad

    One of the key things is to ensure that money is spent on necessities, assets and not luxuries.
    Cars are not an asset, they're an expense
    Fancy watches are not assets unless you intend to sell them for a profit and that's a realistic goal
    The first book is interesting because the wealthiest didn't appear wealthy

    But if it was that easy everyone would be doing it...
     
    sarahk, Aug 13, 2023 IP
  3. Andrea Tan

    Andrea Tan Peon

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    #3
    I am sceptical about the Rich Dad Poor Dad book, even a little critical. It seems to me that there are a couple of good tips in it, but in general it is no longer relevant in the current period. The author focuses on real estate, but my business acquaintances do not advise investing in real estate now because it is very risky due to the low demand for rent, etc. The book also contains a lot of generalities and zero specifics.
     
    Andrea Tan, Sep 3, 2023 IP
  4. sarahk

    sarahk iTamer Staff

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    #4
    I guess real estate in a war zone isn't a great investment. bitcoin sucks. Stocks are unreliable.

    YMMV but real estate is still a sound investment in many countries. In mine, most investors invest in residential only moving to commercial when they've acquired significant wealth. Most never get that far and have only 2 or 3 properties, often managed by a company - and while that's enough to fund a comfortable retirement they're not billionaires.

    In the US however residential investors will own entire apartment buildings and that's mind-boggling for me. I'm guessing they're held in a company structure with more than one investor.
     
    sarahk, Sep 3, 2023 IP