If you're in the middle, forget it.ĭiversify, diversify, diversify. That age-old axiom is so true it isn't funny. That's why only the poor and very rich can afford it. Divorce is a geometric progression - to the poor house. Each time you get divorced, that's another divide by two. Stay married. I've seen it over and over again: one of the most common killers of wealth is the good old "divide by two." Think about it. My advice: quit tweeting and linking and get out and network with real people in the real world. While it's true that I've been very, very lucky, it's also true that I never stopped searching for opportunities and never hesitated to go for it when I found even a glimmer of a possibility. Manufacture your own luck. It's said that luck is when opportunity meets preparedness. The same was true of Steve Jobs when he ran Apple and Pixar. So does Elon Musk, who runs two companies and is not much of a delegator. Work your living tail off and make lots of sacrifices. Yahoo CEO Marissa Mayer is a serious workaholic who works 90 hours a week. Nobody ever got ahead by playing it safe. You'll be wrong more often than not but that's okay. Take smart risks, the ones that make sense to you. Take risks, make mistakes and trust your gut. Most people are either ridiculously risk averse or take dumb risks they know they shouldn't take. The vast majority are small business owners who live on budgets well below their means, invest their money, and never received any kind of inheritance, according to the book "The Millionaire Next Door." Do you really need that new car or iPad? Nope. Own your own business and live like a monk. Two-thirds of America's millionaires are self-employed. The reason? Technology startups are the land of equity and opportunity. Microsoft alone accounts for an estimated 12,000 millionaires among former or current employees. to Silicon Valley. The high-tech industry has created enormous wealth for millions of people, and not just top executives, either. If you follow your passion - and so do customers - the money will follow.įollow the yellow brick road. If you haven't found it yet, keep looking. and pray there's a market for it. Steve Jobs said, "The only way to do great work is to love what you do. Competition and adversity breed great leaders.ĭo what you love. Starbucks founder and CEO Howard Schultz and Goldman Sachs CEO Lloyd Blankfein grew up not far from where I did in Brooklyn. Start with nothing and grow up in a tough neighborhood. Lots of wildly successful people started with nothing and fought hard every day of their lives to make it. For the rest of us, this is how real people make gobs of money in the real world. And while there is no silver bullet for making it big, it isn't rocket science, either - unless you happen to be Tesla and SpaceX founder Elon Musk. Sorry to break this to you, but you live in the real world, not a fantasy novel. The problem is people want it to be easy, like a winning lottery ticket, a magic formula for timing the stock market or a get-rich-quick pill. So how do you get ahead - and stay ahead - of the ever-increasing cost of living? Surprisingly enough, there's no secret to making big bucks.
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