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Because these three numbers are going to determine whether youretire richor broke, he said in the video.
Here are the seven rules to follow to make it retire a multi-millionaire,according to Singh.
Dont go out and finance that Gucci.
In the end he said you are only making someone else rich by making frivolous purchases.
According to him, there are a few ways to go about it.
Number one is buy what youre already spending money on, he said.
If youre going to spend $11,000 at Apple, spend $200 buying some of the company.
The other tip is about real estate.
Warren Buffetts wealth really grew and accelerated after his 50th birthday.
Secondly, having sufficient cash to jump on an opportunity is something that can make a huge difference.
That doesnt mean you should listen to much of it.
Because if it doesnt, its you who loses the money, not them, he emphasized.
Learn the Rules of Money
Finally, Singh believes financial literacy is key to getting rich.
When you become an investor, number one you start benefiting from the wayour economic systemworks.
Because when youre an investor you own a piece of something, you own an asset, he said.
you’ve got the option to also benefit from the tax system.
Because our tax code incentivizes investors throughlower tax ratesand higher potential tax write-offs, he added.
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