Yahoo Finance ‘Shark Tank’ Star Robert Herjavec’s Best Tips for Building Wealth
Several paths exist for building wealth, but some are better than others. One of the best ways to figure out whose advice to listen to is to find someone who not only “talks the talk” but also who has “walked the walk.”
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Shark Tank’s Robert Herjavec is one of those people. Herjavec was born in Varazdin, Yugoslavia (present-day Croatia) and escaped the country with his family when he was only 8. He went from someone who grew up poor to becoming a multimillionaire. But it didn’t happen overnight. Instead, it took many years for Herjavec to go from someone who barely had $20 to his name, to someone owning plenty of successful businesses.
Here are three of Herjavec’s best tips for building wealth.
1. Avoid Too Much Debt
In an interview with Business Insider, Herjavec said he’s seen too many young folks get into too much debt when attending private universities. He suggests considering alternatives like a public university or finding the best program that won’t put you in a ton of debt. That way, you’re starting out on a stronger financial footing. The money you start earning can go towards investments instead of debt, for example.
2. Learn From Your Failures
In an interview with MSP Success Magazine, Herjavec said his success comes from leveraging the times he’s failed. He believes in being resilient and looking for as many opportunities as possible to build wealth. Whether that’s finding a better way to negotiate for a better salary or spotting business opportunities, he believes you should use challenges and failure to motivate your wealth-building journey.
3. Seek Mentors
Building wealth can’t be done alone. You will need to seek expertise and support each step of the way. In the same interview with MSP Success Magazine, Herjavec suggests looking for mentors, coaches or even reading books to help propel you toward achieving your goals. Use this support system to maintain momentum so you can find better and more efficient ways to build wealth.
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This article originally appeared on GOBankingRates.com: ‘Shark Tank’ Star Robert Herjavec’s Best Tips for Building Wealth
