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The Rules of Wealth, 3rd Edition by Richard Templar

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RULE 49

Build a bit of capital then invest it wisely

Lots of people don’t get prosperous because, as we saw earlier, they are too lazy. But a lot fail because they don’t know what to do once they start to earn some money. It’s easy to think, once you’ve got your hands on a bit, that you have earned it, you deserve it, you’re going to spend it. You have earned it – assuming you haven’t robbed anyone to get it – and yes you probably do deserve it. But no, don’t spend it all now, no matter how much you want that new car, holiday, cottage by the sea, whatever.

I’ve done it. I guess we all have. I once got a massive tax rebate. I don’t remember why I was being taxed so highly but I was for several years and when they repaid me it was quite a handsome ...

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