THIS IS THE ONLY SECRET OF WEALTH | Andrew Carnegie | Big Money Investing Review

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[Music] they say that the world of finance is cruel and unfair although in fact such statements are only meant to scare people who want to get rich because basically having a successful experience with money and adhering to the rules of wealth make it easy for anyone to reach millions of dollars in their account an excellent example of this would be the most inconspicuous billionaire in history andrew carnegie he was one of the first to become the wealthiest man in the history of mankind so what were his principles and how can his experience help you become richer you will find out all the answers by watching this video until the end welcome to the main channel on finance your journey to wealth begins by clicking the subscribe button today the name carnegie is associated with dale and books published in millions of copies the title of which begins with the word how but a hundred years ago every newspaper reading person knew that carnegie was just andrew and dale carnegie himself at the beginning of his literary career changed the spelling of his last name from carnegie to carnegie like andrew who had passed away by that time he was guided by a simple calculation at the time carnegie’s last name was synonymous with success a reminder of a man who had made more money than john rockefeller and john peer pont morgan if one were to count the fortunes of current and past billionaires by inflation or by the share of their capital in the world gdp at the time andrew carnegie would be in first place among businessmen and in the overall standings would be fourth second only to the great emperors of ancient times the future billionaire began his journey in poverty and even in a foreign country andrew was born in 1835 in scotland but his parents had to leave in search of a better life so they moved to the united states and settled near pittsburgh pennsylvania at the age of 13 having completed only five grades he was forced to take a job as a coiler in a spinning mill earning 1.5 dollars a week ultimately andrew would become one of the wealthiest businessmen in human history i made carnegie’s life path in the form of rules that helped him succeed in business and will now share them with you build your career step by step from your childhood the following job young andrew took was a boiler stoker in a factory basement such a profession was much easier than working as a coiler and he was also paid more two dollars soon he was transferred to work in the office for his beautiful handwriting another teenager would have settled down after getting out of that industrial hell but not andrew he then left the quiet office paradise to work as a street messenger however it was in the telegraph in those years the telegraph whose commercial use did not begin until 1837 was the latest technology opening up unprecedented horizons this made him the personal telegrapher for thomas scott the local branch manager of the pennsylvania railroad company and he was already getting 35 a month for the job he was only 18 years old and within five years he had raised his original salary 30 times and just as importantly made friends with a supervisor thomas scott who eventually became his business partner don’t save money make it work for you the average 18 year old boy like carnegie would have had two options to spend his paycheck on entertainment in his spare time or to save money but andrew chose the third option he invested the money in stocks carnegie was already buying new shares only on the dividends from the previous ones it seems that the take it or leave it principle was not about him to understand how unusual this was for a kid from a poor working class family recall that there were no how to get rich courses at the time and andrew’s education was limited to five grades still he would borrow a new book weekly from the local library but there were no business manuals yet moreover to buy stock in the adams express railroad company carnegie mortgaged his parents house and borrowed money from his former colleagues the railroad like the telegraph was a state-of-the-art invention back then so carnegie can rightly be called one of the first venture investors and his calculations were justified in a year and a half fifty thousand dollars invested in shares turned in to six hundred thirty thousand dollars and carnegie went on buying up shares of railroads bridge building and oil companies interestingly carnegie was already buying new shares only on the dividends from the previous ones it seems that the take it or leave it principle was not about him when investing look for new niches and combine risk and calculation by buying shares of bridge building companies carnegie could be guided by accurate foresight and even calculation the us was developing practically from scratch and therefore required infrastructure construction on the other hand the search for oil was a venture capital business at the time carnegie was buying plots of land in the most abandoned parts of the country guided only by residence tales of where oil could be found sometimes he was lucky and sometimes he was not carnegie could not sell the plots he bought but never got the black gold from them with a total area of twenty thousand hectares for thirty years still the oil-bearing site he bought for forty thousand dollars gave carnegie an annual income of one million dollars in ten years and was valued at 5 million dollars fine motivation for 2.50 at the dawn of his career carnegie received a 2.50 cents bonus he gave this money to his parents to support his family he later said no subsequent victory in recognition thrilled me more than this one back then i felt like i was in heaven from that moment on carnegie realized he wanted to become rich but not for himself he dreamed of money for his parents to live a decent life once carnegie found motivation his enthusiasm and performance began to experience an incredible boost he didn’t have enough incentive to help himself but he was motivated to do everything for someone else so whether you’re doing it for your parents your children or to help people who don’t even know your name there has to be a constant incentive in your mind to help you cope with the inevitable challenges on your path to success follow the rule of nine tenths this story changed the entire course of carnegie’s life it is about an elderly man whose life was full of tragic events people in town pitied him but the old men replied yes my friends everything you say is true i have lived a long life full of misery but there is one curious fact nine tenths of my troubles were not really there carnegie understood from that story that most of the problems and doubts that trouble us don’t really exist our brain has a tendency to imagine the worst options and act accordingly but in fact most of the imagined negative scenarios never materialize and even when they do things don’t actually turn out as bad as they seemed before by reminding himself of the rule of nine-tenths carnegie freed himself from the fear of the unknown and was able to take the risks necessary to achieve significant success step out of the shadows one afternoon a young man walked into carnegie’s office to interview him and ask questions about his success carnegie could have told the young men about his journey from poverty to wealth and his intense business relationship with john rockefeller but instead carnegie told him something else carnegie said the most essential thing in his life was his ability to forget his problems and smile at life he said that the talent to look at life through the lens of optimism was more important to him than millions of dollars young people should know they can develop this the mind like the body can be moved from shadow to light carnegie said this is also true in business being free from the oppression of the negative perception of life carnegie could concentrate on the good things quickly recover from failures and find opportunities where others could not the key to success one of the most valuable resources in a person’s life is of course experience this thing is priceless but few can adequately use it the rules of life which helped andrew carnegie to become rich can bring a massive amount of money in your life the main thing is to believe and not be afraid to act i am sure you will succeed it’s the main channel on finance subscribe and become rich [Music] you

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