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Five things that make people rich

Rich people have a financial plan and stick to it without trying to keep up with the market, explains financial planner Patrick Rush. Wealthy people are also looking for ways to cut taxes and carefully plan their retirement. Over the years of working with millionaire clients, Patrick Rush has identified five ideas that help affluent people increase their wealth over time, writes Business Insider.
Five things that make people rich

They stick to their financial plan

Wealthy people who increase capital always have a long-term financial plan.

They don’t care about their investments and often don't manage them.

According to Rush, most rich people do not think about stock trading. They don't worry about how to keep up with the market or make a lot of money on the next "hot" stock. Affluent people prefer a long-term approach to investing. For many of them, the secret to successful investing is patience.

They carefully plan their retirement

For many people, quitting a full-time job means having to live on a smaller income by sacrificing the usual quality of life. However, wealthy people stay wealthy in retirement thanks to careful planning.

They find ways to lower taxes

Affluent people learn to reduce their tax liability. Paying less taxes means saving more money in the long run, Rush believes.

They include charity in the financial plan

Rich people often include charity in their financial plans. Charitable contributions can lower your overall taxable income allowing you to reduce income tax or even insurance premiums at retirement age.

Source: https://incrussia.ru/news/5-veshhej-delayut-lyudej-bogatymi/

Photos are from open sources.

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