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The wealthy follow one rule: never lose money. Most people chase risky bets hoping for a big win, but the rich focus on protecting what they have. The shift from hunting gains to defending existing wealth is what separates them.
The wealthy follow one rule: never lose money. Most people chase risky bets hoping for a big win, but the rich focus on protecting what they have. The shift from hunting gains to defending existing wealth is what separates them.
What do actual rich people do? What I was doing was what I thought rich people do. And it turns out the way they think about money is completely different than most of us think. Most of us take on a lot more risk than actual rich people do. The number one rule of the wealthy is to never lose money. And what I was doing was going out and spraying and praying and shotgunning my capital everywhere and hoping that I was going to strike it big and invest in the next Uber when all I should have really been doing was transitioning to be a defender of wealth and protecting what I had already built.
