The Online Investing AI Blog

No, I’m not talking about Gisele, Kathy Ireland, or Janice Dickinson.

They are entrepreneurial super models who make millions by lending their names and faces to products and services. But, that’s not exactly what I’m referring to.

I’m talking about the entrepreneurs who you would model your own startup career after.  After all, it’s easier to visit the frontier if you have a guide. In this case, an entrepreneurial super model can be from any industry, any time period, and any position. They don’t really even have to be famous. The guy who owns a killer use record store that’s still in business might serve as one of your role models.

You don’t have to mimic these models exactly.

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Business Strategy, Great Books, Investing, Money, Online Investing AI Bill Gates, entrepreneur, models, role models, startup, startups, super models, wright brothers

This is the last post in the series. See the bottom of the post for the other nine posts.

90% of Financial Success Is Psychology

Have you ever looked at the list of the world’s wealthiest people? It seems that each person found a different way to get rich. Some people, like Bill Gates, did it by building a software business. Others did it through investing. Warren Buffett is a great example. Still others did it in different ways.

So that begs an interesting question. If there’s so many different ways of getting rich, what do they all have in common? The answer is, a certain way of thinking.

90% of financial success is determined by how you think. The remaining 10% is the specific strategies people use to get rich. Most people love to focus on strategy. They talk about who to hire, how to do marketing, or which properties are best to buy. But all of these strategies will only work if they are built on a certain mindset. And this mindset is the psychology of financial success.

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Investing, Money, Success Bill Gates, education, financial industry, mindset, psychology, secrets, Warren Buffett, wealth

For millions of Americans and people around the world, a college education is thought to be the key to financial success. I think this is especially true among people who have never been to college. They think that if they can educate their children better, their children will be better off financially.

I don’t think this is true at all. College teaches people to be good employees. And if you think employees are wealthy, or that a high salary creates wealth, then you will probably disagree with this whole post. Employees are poor because they spend all their time at work. By the time they come home, they don’t have enough time, energy, or desire to get rich. And they will never get rich working for someone else.

A high salary does not create financial wealth either. A high salary only creates high expenses. Nearly all Americans spend as much as they make, and then a little bit more. The higher the salary, the more they spend. It means a more expensive house, cars, dinners and a bunch of junk that will never help them get rich. And, what’s worse is that people think that they are doing well financially when they have a high salary. When in fact, they are actually doing poorly.

Most people are aware that some of the wealthiest people in the world did not graduate from college. The most famous example is Bill Gates. He dropped out because he wanted to focus on Microsoft, and he knew that learning the information taught in college would not be a good use of his time.

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Money, Success Bill Gates, college, education, financiers, Money