What Everybody Ought to Know About the World's Richest Man
The world’s richest man doesn’t care about making money. He thinks it’s crazy if you keep on buying things.
Carlos Slim is a telecommunications tycoon that was ranked by Forbes as the world’s richest man in 2010.
He firmly believes that electronic communications is now the nervous system of society.
In an interview with CNN’s Larry King, Carlos opened up about money, life, business and family.
Carlos shared some incredible insights. These great insights should be studied carefully by new real estate investors.
Here is what you ought to know about The World’s Riches Man
- Family is the most important thing to him.
- His happiness does not come from buying things.
- He thinks that someone is “crazy” and that they “have a problem” if they “keep on buying things.”
- The more that you buy, the more that you will want. Materials things don’t matter.
- Family should not be looked at as an obstacle. Rather, you should turn to family for support.
Understanding Carlos’ point of view is very important for new real estate investors. If you completely understand and practice what Carlos preaches, you will have a much more fulfilling real estate investing career. Buying rental property should never be about making money hand over fist…which leads me to my next point…
1) Never buy rental properties solely for monetary gain
Your long term happiness as a real estate investor has more to do with than just making money. Don’t get me wrong… There is absolutely nothing wrong with monetary gain. However, you have to have other, more dominant motivations, fueling your desire to invest. If you just invest to make money, you probably will not fully enjoy the experience of being a real estate investor. Any super successful real estate investor, like Donald Trump will be the first to tell you that you have to do what you love.
2) Your family can help you become a better real estate investor
View your family in a positive light. Gain strength from them. Work as a team, not against each other. Look to them for support during tough times. This is what Carlos believed, and continues to believe today. Many real estate investors, including myself got to where they are today because of the support of their family.
Best Regards,
Neil Uttamsingh
PS: Learn from the most successful people in the world, and learn how to become a real estate investor simply by subscribing to my blog.
Comments (6)
Nice Post Neil. I'm sure Carlos has multiple family members around him in his business on a daily basis which helps to build a lasting legacy. Not just in terms of the business, but in passing along his values and ideals. I am also quite sure that Carlos values his time with family away from the business as well. People can learn a lot by simply studying and modeling the very small details of those who have found success. Thanks for pointing out a few things about Carlos for all of us to consider.
Chris Clothier, almost 14 years ago
Agree with your points. Good job on linking the points to real estate.
Sharad M., almost 14 years ago
I agree with making your business your family's business. get everyone on the same page, pulling the same direction, supporting each other like a championship team. also teach your kids to create there own job/future when jobs are scarce.
Jon Klaus, almost 14 years ago
Took me a moment to read between the lines. Your first point is more about doing what you love to do. Which is an excellent point. Trying to become a doctor or lawyer simply because these are high paying jobs would be nuts. Becoming a real estate investor because you could make a lot of money usually doesn't work and if you are successful (not as likely) tends to lead to unhappiness. The second point is not so much about putting family first, but making your business a family business because that way it doesn't matter if there the days are long. To amass the kind of wealth Carlos has taken a lot of effort. Finding a way to involve your family in what you love makes a lot of sense.
Account Closed, almost 14 years ago
that is great to read that he puts family first. Thanks for sharing!
Kevin Kaczmarek, almost 14 years ago
Greetings Everyone, Please leave me a comment and let me know what you think about this post. Happy New Year! Neil.
Neil Uttamsingh, almost 14 years ago