Tips from the “DHDL” jury: Carsten Maschmeyer: This is how everyone can get rich and build up a fortune | message
No question of income
Because, according to Carsten Maschmeyer’s explanations in his book “Die Millionärsformel”, it does not matter how high the income or the already accumulated wealth is to get rich. Much more important than the amount is how the money is handled. A lack of consistency, too much greed and simple ignorance are among the most common mistakes in dealing with money, which is why he advises first of all to expand “money intelligence”. The acquired knowledge leads to a different way of thinking, which leads to power over finances and subsequent wealth. The “secret of wealth consists solely of a conscious decision, many small steps and a lot of discipline and perseverance”, says Carsten Maschmeyer in his book.
The “getting rich” strategy by Carsten Maschmeyer
In addition, in the context of a report on his book publication in “BILD”, Maschmeyer carried out the “getting rich strategy”, named after the second chapter of his book of the same name. This basically consists of setting aside 10 percent of monthly net income for the future and letting it work for you. “Yields generate further yields and this results in increasing” yield-yields “”, said Maschmeyer in his report. According to Maschmeyer, equity or index funds are particularly suitable for this. The main goal of wealth creation is to secure income for the future and to be able to post sufficient income even after working life. For this reason, the most important step towards wealth is to start with saving on the future account and then to continue regularly and consistently over a long period of time. “Over the years this will become a real independence account,” said the DHDL juror.
Carsten Maschmeyer’s ten commandments of money
In addition, he advises in the report to abandon traditional investments because they no longer work. “There is hardly any interest any more, government bonds are no longer so secure, property prices have risen sharply, private pension provision has become more difficult, endowment life insurance policies are dead, many stocks are now expensive”. Rather, in order to build up wealth and get rich, the ten commandments of money, which he explains in BILD, would apply:
• 1st commandment: Targeted further training increases the chances of career and income increases.
• 2nd commandment: Take out liability and occupational disability insurance in order to protect your assets and regular income.
• 3rd commandment: Eliminate avoidable and dispensable costs as early as possible.
• 4th commandment: Set up an emergency account for at least three months’ salary.
• 5th commandment: Life insurance to cover the financial risk of death, especially as a young parent or with small children.
• 6th commandment: Realizing a higher income through paid overtime or a second job, for example.
• 7th commandment: start building up a private pension plan as early as possible.
• 8th commandment: A regular payment into a future account in the form of an equity or index fund.
• 9th commandment: move away from renting an apartment and moving towards home ownership.
• 10th commandment: diversification of investments into tried and tested types of investment.
Finanzen.net editorial team
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