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Lessons from the billionaires

Posted by on April 9, 2011

(to get regular secrets of raking in money into your life regularly send secrets to this emaill address ‘beawealthmagnet@getresponse.com’)

 

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You are not everybody,do not try to be like everybody.go to the mirror and tell the person you see there that BE YOURSELF!there are several billionaires who owns a jet company but does not own a private jet and so frugal to the core.i remember Ingvar Kamprad

The founder of the Swedish furniture phenomenon Ikea struck success with affordable, assemble-it-yourself furniture. For Kamprad, figuring out how to save money isn’t just for his customers, it’s a high personal value. He’s been quoted as saying “Ikea people do not drive flashy cars or stay at luxury hotels.” That goes for the founder as well. He flies coach for business and when he needs to get around town locally he either takes the bus or will head out in his 15-year-old Volvo 240 GL.

Chuck Feeney

Growing up in the wake of The Depression as an Irish-American probably has something to do with Feeney’s frugality. With a personal motto of “I set out to work hard, not get rich,” the co-founder of Duty Free Shoppers has quietly become a billionaire but even more secretively given almost all of it away through his foundation, Atlantic Philanthropies. In addition to giving more than $600 million to his alma mater Cornell University, he has given billions to schools, research departments and hospitals.

Loath to spend if he doesn’t have to, Feeney beats both Buffett and Kamprad in the donation category, giving out less grants than only Ford and the Bill and Melinda Gates Foundations. A frequent user of public transportation, Mr. Feeney flies economy class, buys clothes from retail stores, and does not wast money on an extensive shoes closet, stating “you can only wear one pair of shoes at a time”. He raised his children in the same way; making them work the same normal summer jobs as most teens.

Frederik Meijer

If you live in the Midwest chances are good that you shop at Meijer’s chain of grocery stores. Meijer is worth more than $5 billion and nearly half of that was amassed when everyone else was watching their net worth drop in 2009. Like Buffett he buys reasonably-priced cars and drives them until they die, and like Kamprad he chooses affordable motels when on travel for work. Also, like Chuck Feeney, rather than carelessly spending his wealth Mr. Meijer is focused on the good that it can provide to the community.

The Bottom Line

The dirty little secret of some of the world’s wealthiest people is that they rarely act like it. Instead of over-the-top spending, they’re busy figuring out how to save and invest to have that much more in the future. It’s a habit you might want to consider in order to build up your own little storehouse of cash.

(to get regular secrets of raking in money into your life regularly send secrets to this emaill address ‘beawealthmagnet@getresponse.com’)


www.setgroupafrica.com/sa

http://www.setgroupafrica.com/?pages=books

www.setgroupafrica.com

 

 

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