A thumb rule says you are the average of five peoples by whom you are surrounded... whether it is your personality, values, character, or net worth. You might have observed that if five friends are smokers, the sixth one also gets addicted to this sooner or later. You become the average of five with whom you spent most of the time.
This rule also applies not only in life but in investing too. If your friends are traders, you start trading in the market. If all of them putting money in FD or taken a particular policy, you also start following their footsteps. Herd bias is very common in investors in which people start chasing the crowd blindly and suffer losses eventually.
One should understand and be aware that if your friend circle belongs to a mediocre mindset, you will never ever able to get rich. The difference between Rich & Poor people is that while Rich create at least 10 different sources of income, the Poor rely on a single source only. One should always ready to grab the opportunity whenever there is a chance to create an add-on source of income. It could be passive as well as active income.
Therefore, in life or in the wealth creation process, always follow those, who already succeeded in their respective field. Unsuccessful people can not make you successful and at the same time, poor people can not make you rich.
To grow in life, one should always seek for mastermind alliance to help, learn & grow together! However, one needs to keep on upgrading their knowledge, skillset, and become aware on a continual basis. Investing in a Brain is far better than investing in a Bank!
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