Mat Steinwede

24.08.10

Today I met with one of the wealthiest men I know and he gave me some advice about wealth, business and life so I thought I would share it with you:

1. Spend less than you earn.
2. Learn about the value of compound interest.
3. Only invest in what you know.
4. Buy property in an area close to where you live and understand the market.
5. Don’t sell property unless you are using the money to fund a superior property or have a better use for the money in a superior investment.
6. There is no quick money and if there seems to be ignore it.
7. Only buy what you can afford.
8. Success takes time.
9. Nurture relationships, as much of his success has come from long standing relationships.
10. Always make decisions based on high integrity otherwise don’t make them.

I spoke with this man for approx 2 hours and the conversation was inspirational. He would be worth many billions of dollars and has no debt. He just purchased another prime property recently for $100,000,000 and paid cash. Now that’s real wealth!

It was one of the best meetings of my life.

I learnt more about wealth in those 2 hours than I have learnt in many years.

Just goes to show how important mentors are in your life!

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