Financial guru tells how millionaires attract wealth
Investor, entrepreneur, and millionaire Luke Belmar is known for his frank, unbiased advice on finance and lifestyle. In a recent YouTube video, he stated that he doesn't chase money, but attracts it. But how does he do it?
GoBankingRates writes: "He makes no secret of his success and has even launched The Capital Club, a digital community of more than 15,000 entrepreneurs that is available by invitation only." In his address to the CapitalClubCommunity contest, Belmar said that most people are focused on the output - the result, how to make $1 million - rather than the input, which they can control. And this is their main mistake.
What should a future millionaire know?
According to the entrepreneur, the question to ask is this: "How can you pick up a book today that will teach you the history of money? You don't even know what this thing is that you're chasing."
On his website, Belmar has recommended several books that are worth reading to get started - from Sun Tzu's The Art of War to Roger James Hamilton's The Millionaire's Master Plan, as well as Satoshi Nakamoto's Bitcoin: A Peer-to-Peer Electronic Money System.
Who is Luke Belmar?
Belmar has earned more than $10 million through businesses and investments that include dropshipping, e-commerce, NFTs, and cryptocurrencies.
Talking about the benefits of investing, he said in the video: "Do you think I'm going to work for ten years thinking I'm productive for 1.2 million when I can make that in trading, understanding how the world works?" He advised business owners, whom he called "hustlers" (a person who makes money by any means necessary), to manage their business rather than letting the business manage them.
"Most people spend the money they earn during the 'hustle' period on themselves, pretending to be bosses."
Belmar said: "A real boss invests that money in the business to create sustainability. And then, having achieved stability, they can indulge themselves."
In particular, Belmar advises aspiring entrepreneurs not to spend money on designer clothes and luxury cars. This can be done, he says, when the money works and you have a solid passive income.
To prove his point, the businessman gave several examples in numbers. He explained that a business that generates $20,000 in net profit may have $10,000 left over after taxes and expenses. "How much will it be in ten years?" - He asked. "1.2 million dollars."
On the other hand, if you invest that money, you can get passive income that will grow exponentially.
"Understanding how the market moves, how currencies change, how new currencies appear, I'm ready to pay $100 million rather than pay $1.2 million over ten years," Belmar said.
The financier also emphasized other aspects of life that he believes are more important than money.
"Your happiness cannot be tied to a number, because once you achieve it, you will want more. There is no amount of money that you can invest in good health, good relationships, peace of mind and heart. You can't buy it. You get purpose, peace, and peace in balance."
