How to Build Wealth

10-Step Formula to Riches

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1. Live like an Undercover Millionaire

Income ≠ Wealth

How to live like an undercover millionaire:

- Spend less than you earn
- Avoid buying fancy clothes
- Avoid buying new & fancy cars

To feel rich, count the things in your life that money can't buy.
2. Always Look Ahead

To build a strong financial future, break down your goals into 3 categories:

- Short term goals (1 to 5 years)
- Mid term goals (5 to 10 years)
- Long term goals (10+ years)

Understand your goals and build a plan of action.

Make your goals a reality.
3. Become the Household CFO

Assign a purpose to every dollar.

How the wealthy budget:

- 529 plans
- Business accounts
- Retirement accounts
- Emergency savings fund
- Joint / Individual accounts

Want to budget stress free?

Automate the process.
4. Pay Yourself First

You might catch the famous Warren Buffet mentioning this phrase during his investment talks.

This means:

- You save/invest
- You pay your bills
- You spend the money that’s leftover

Save and invest first, before you spend money.

It's that easy.
5. Tackle Retirement Now

Envision how you want your future life to look.

Ask yourself:

- Where will you live?
- Which car will you drive?
- When will you retire (if ever)?

Today is the best day to start building your tomorrow.
6. Create Mind Tricks

Adopt mind tricks to decrease or stop overspending.

Some tricks I use:

- Eat before grocery shopping
- Pay with cash, cut up the cards
- Visualize my wealthier future self
- Track (and review) daily spending

Your mentality is your reality.
7. Pay off Debt

The first step to building riches is to stay out of "bad" debt.

Bad debt is high-interest debt.

Examples of bad debt:

- Store credit
- Payday loan
- Credit cards
- Cash advance loans
- Other consumer loans

With bad debt, you rob your future self.
8. Increase Income

The key to building riches is this:

Spend less than you earn.

Tips to spend less:

- Meal prep
- Cut the cord
- Cancel subscriptions

Tips to earn more:

- Start a side hustle
- Request a promotion
- Negotitate a higher salary

Maintain a balanced lifestyle.
9. Find an Accountability Partner

Use social peer pressure to your advantage.

An accountability partner can be:

- Your friend
- Your spouse
- Your partner
- Your mentor
- Your professor

Your partner will hold you accountable for your spending and saving goals.
10. Follow The MMW

Want to level up and improve your financial life?

Then check out The Millennial Money Woman blog today.

With The MMW blog, you will find:

- How to grow wealth
- The latest financial tips
- How to maintain wealth

Click the link below
https://t.co/I6D35yaI7D

More from The Millennial Money Woman 💵

More from Life

THREAD: 12 Things Everyone Should Know About IQ

1. IQ is one of the most heritable psychological traits – that is, individual differences in IQ are strongly associated with individual differences in genes (at least in fairly typical modern environments). https://t.co/3XxzW9bxLE


2. The heritability of IQ *increases* from childhood to adulthood. Meanwhile, the effect of the shared environment largely fades away. In other words, when it comes to IQ, nature becomes more important as we get older, nurture less.
https://t.co/UqtS1lpw3n


3. IQ scores have been increasing for the last century or so, a phenomenon known as the Flynn effect. https://t.co/sCZvCst3hw (N ≈ 4 million)

(Note that the Flynn effect shows that IQ isn't 100% genetic; it doesn't show that it's 100% environmental.)


4. IQ predicts many important real world outcomes.

For example, though far from perfect, IQ is the single-best predictor of job performance we have – much better than Emotional Intelligence, the Big Five, Grit, etc. https://t.co/rKUgKDAAVx https://t.co/DWbVI8QSU3


5. Higher IQ is associated with a lower risk of death from most causes, including cardiovascular disease, respiratory disease, most forms of cancer, homicide, suicide, and accident. https://t.co/PJjGNyeQRA (N = 728,160)

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@franciscodeasis https://t.co/OuQaBRFPu7
Unfortunately the "This work includes the identification of viral sequences in bat samples, and has resulted in the isolation of three bat SARS-related coronaviruses that are now used as reagents to test therapeutics and vaccines." were BEFORE the


chimeric infectious clone grants were there.https://t.co/DAArwFkz6v is in 2017, Rs4231.
https://t.co/UgXygDjYbW is in 2016, RsSHC014 and RsWIV16.
https://t.co/krO69CsJ94 is in 2013, RsWIV1. notice that this is before the beginning of the project

starting in 2016. Also remember that they told about only 3 isolates/live viruses. RsSHC014 is a live infectious clone that is just as alive as those other "Isolates".

P.D. somehow is able to use funds that he have yet recieved yet, and send results and sequences from late 2019 back in time into 2015,2013 and 2016!

https://t.co/4wC7k1Lh54 Ref 3: Why ALL your pangolin samples were PCR negative? to avoid deep sequencing and accidentally reveal Paguma Larvata and Oryctolagus Cuniculus?