Think Like the Rich: The Million Dollar Test
Adrian Brambila
My new book is out! Start Thinking Rich grab a copy wherever you buy books!
I’m about to give you a rich test. I want you to answer honestly and reply to this without scrolling down below to see the correct answer?—?deal?
If I was to give you a million dollars tell me exactly what you would do with it.
Would you buy a nicer car? A nicer home? Or are you a generous person and would buy a better place for someone you love like your parents?
Would you pay for your kids college? Invest that money to start a business? Maybe pocket 10% for fun and the other 90% would go to savings in your bank account?
Ok?—?reply to this email with the answer and scroll down for the correct rich answer to see if you past this test…
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Answer: There is actually only one correct answer to pass this rich test. Only one!
A rich person would take this extra $1M dollars and invest 100% if it without any exceptions.
If you did NOT answer this I hate to break it to you but you failed and I want to explain why.
All of your idea even the generous ones are not wise. Every wealthy person MUST pay themselves first. Wealthy people know about a thing called wealth preservation. If you just inherited a million dollars the last thing you should do is spend any of it! Most people don’t want to be a millionaire they just want to spend a million dollars.
Even if your answer included things like paying off debt or starting a business these answers are incorrect. You should pay yourself with this extra money vs pay it to your mortgage.
Investing any part of this money into a business is a 95% way to lose it all since 95% of all businesses fail.
When I say pay yourself first I mean investing that money like into the S&P 500 that pays a dividend.
Based on conservative market historical returns that money would grow by 7% a year. That is $70,000 a year that the $1M would make.
You could do something like the 4% rule which withdraws from the dividend you get or growth which would be $40,000 a year.
Now with that money you could do whatever you want with it. You could start that business, buy that gift, put that downpayment on a house.
This is called living off your investment and because you will never touch your principal with this 4% rule that million dollars will continue to pay you $40K minimum each year which you can live off or pay off debt with and eventually it will keep growing and growing.
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This is the rich answer. The right answer. This is how the rich keep getting richer. They think differently about money and I want you to start thinking like the rich.
I talk about this specifically and how to attain it in my upcoming book Start Thinking Rich which comes out this month! Get it here today free (so you don’t have to pay thousands if you want to get it later): startthinkingrich.com/join-group
-Adrian
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