Rules That Can Help You Make a Fortune

We all dream and set goals at some point time in our life. We always think about it and find different ways to fulfill it. We know some of the rules we should follow to become successful in life such as self-discipline, hard work, integrity and many other we all know. But here are some of the rules which we are not familiar with. These are the rules which can be the deal-breaker between you and your goal.

• The 10 X Rule:-

The 10 X rule

This rule was written by Grand Cardon in his book THE 10X RULE. The 10X rule says that -

1.  you should always set targets for yourself that are 10X (10 times) greater than that you believe you can achieve.  
2. you should take actions that are 10X (10 times) greater than what you believe is necessary to achieve your goal.

The biggest mistake people make that they don't set goals high enough.Taking massive actions is the only way to fulfill your true potential.

People always think about how much work it is, don't worry about how much work it is. Think about how great the results will be.

• The 47 rule:- 

                              This rule says that if you are working 40 hours a week, you should at least work 7 hours on yourself.Your life only gets better when you do work on yourself .

No one can achieve their goals without having some savings or without doing any money management. Here are some of the famous rules of money management.

• 50/30/20 rule:- 

50/30/20 Rule

This rule asks you to break your in-hand income into three parts. Where 50% of your after-tax income goes to needs, 30% of your income goes to your wants and 20% goes to your savings and investments.

Breaking the 50-30-20 proportion.

Needs 50%:- Needs are the things which we require for our survival. Needs are actually things like Bills, food, house rent, insurance premiums, minimum debt payment and more such things which are required to live peacefully. However, needs do not include TVs, Cable, Netflix, gym, etc. They come under wants.

Want 30%:- Wants are the things which are not required for basic survival but are things which you aspire for like phone, car, TV, different EMIs you took a loan for etc.

Savings 20%:- While needs and wants are important in living your life. But savings are required for your future, which makes savings the most important among the three. And one must never ignore this section.

• The 72 rule:-

                                   This rule is widely used by financial analyst and stock investment firms to calculate their income on their investment made. We can also use this before making any type of investment (investment is very important for everyone click here to know why?). This rule helps us to calculate how much time is required to double your money. 

The formula is Double return= 72/ rate of interest.

For example, if you invest the X sum of money and you get 10% interest on it so, how much time is required to double your money?

Double return= 72/10 = 7.2 years.

So, you will have to wait 7 years and 2 months to double your amount.

These were some rules you must require to follow for achieving your goals along with the common ones. But then also some people couldn't achieve it. Because they tend to compromise with their goals for some reasons in their Life. Never ever compromise with your goals. You have one life so why to compromise "live life king size."

 ~By Suddha.