How to be rich?

My Paper interviews the co-creator of the "Chicken Soup for the Soul" self-help books.

Mark Victor Hansen made his first million at age 35. He's now an accomplished wealth guru coaching people and giving seminars around the world (obviously making more money).

Like other self-help gurus, Mark has advice for people who aspire to be wealthy. Let me gloss over the standard stuff and highlight what I think is important.

Standard stuff (mostly vague):

- Have a vision
- Be a team player, work with people
- Have a system of generating wealth quickly (but how?)
- Have "tools"
- Save 10% of what you earn, donate 10%, and invest 10%

Here's what I think is useful: find a mentor. Yes, get someone who's been there and done that to coach you. (But I don't think this is the same as attending get-rich seminars, so please save your money.)

If you're lucky to find such a mentor - maybe a close relative or a good friend - ask him these questions politely:

- How did you make your first million?
- How long did you take?
- If you were to do it again in today's context, how much time do you need? Would you do it differently and how?
- If I want to be rich, what's your advice for me?
- What is the most important lesson you picked up in the process of getting rich?
- What do you think is the most important habit that helped you?
- Any missed opportunities? Can I make use of these opportunities?

I want to add one more question: Do you think luck plays a part?

The reason for asking this question is that luck is a very much underrated "quality" for getting rich. Too many people are saying it's just hard work, having a "system", perseverance, networking, etc. But you actually need to be lucky to have a good brain, to meet the right people, to be at the right place, to invest at the right time, and so on.

So, it helps if your mentor can give you an understanding of how luck plays a part in getting rich.

This Web age gives us a peculiar advantage to have many great mentors:
Learn from all the successes that can be found online.

However, this rich and convenient method demands one important quality:
Be a self-driven, diligent student at:

a) seeking out all that information
b) reflecting on the lessons
c) acting to improve.

The problem is most people does not have a great mentor

Money Tips:
1) Have or adopt rich parents
2) Stay lucky
3) Start ur own business - have a scaleable business!!!!!!!!

What business to start?

When I was a younger guy, I too thought that I could make it in the world just based on my talents alone, but the older I get, the more I realize the huge part that luck plays. This is not to say however that you should just stay home and wait for money to drop from the sky. Somebody once mentioned that a large part of his success is just showing up i.e. you’ll still have to do the work but leave the luck part to higher powers.

Its about working hard, developing your hard and soft skills, and look out for opportunities that can bring you to the next level. If you fear hard work, then be contented with just moving along

It's about working hard, grabbing opportunities when they come AND being lucky. Hard work alone can only bring you so far. The cows work hard too. My maid is very hardworking as well.

Sorry, don't mean to sound belittling. I have nothing against my maid, and really appreciate her help. (btw, I heard when maids go back home, they are actually quite rich!)

[Husky]

Originally Posted by lucky

It's about working hard, grabbing opportunities when they come AND being lucky. Hard work alone can only bring you so far. The cows work hard too. My maid is very hardworking as well.

I am with lucky. Capability and hard work count for nothing if you don't have luck or opportunities. And opportunities are like parking lots, the good ones are always taken.