Reading time: 2 minutes

real reasonStep one: Get your hands on other people’s money

The real reason Donald Trump is rich. Really, really rich. And you’re not.

And there’s a very simple reason.

No, it’s not because he works harder than you. It’s not because he’s smarter, tougher or better informed either.

It’s not because he has mastered “the art of the deal.” It’s not because he dreams bigger than you. It’s not because he’s a “winner” and you’re a “loser.” It’s not even that he had a rich daddy, and you didn’t (although that helps).

Donald Trump is rich, and you’re not, because he knows one of the biggest secrets to making a fortune, and you don’t.

The secret?

Other people’s money.

The fastest and surest way to make money these days is by getting your hands on other people’s money — and then putting it to work for you.

You don’t need to build Trump Plaza to live high on other people’s money. Just keep piling up the credit card debt.

It’s really that simple.

Trump borrowed billions from bankers and used the money to put up buildings like Trump Tower and open casinos like the Taj Mahal. In his books, Trump says that by the early 1990s he owed more than $9 billion.

When things turned sour, his companies filed for bankruptcy — twice. The lenders had to eat the losses.

Too bad. What a bunch of losers!

He then raised more money from bankers, bondholders and even stockholders along the way. On two more occasions his companies filed for bankruptcy. Lenders and investors got hosed.

“Out of hundreds of deals & transactions, I have used the bankruptcy laws a few times to make deals better,” he has said on Twitter. “Nothing personal, just business. … It’s a very effective & commonly used business tool.”

No kidding.

“Like many great business people,” he says, “[I] have used the laws to corporate advantage — smart!” (His career raises some questions. For example, if his companies went into Chapter 11 in the early 1990s owing $9 billion, as he says, and today he’s worth $4 billion, according to Forbes, what happened to the other $5 billion?)

Now here’s the good news.

You can put this secret to work for you, too — just like “The Donald.”

Yes, even if you’re just a regular Joe or Joanna, an ordinary working stiff, you can get “smart” and put this very “effective & commonly used business tool” to help make you rich.

As Trump might say: Stop being a “loser” and start being a “winner.” Stop being a “dummy” and start being “smart.”

Thanks to our great country, its great financial system and its great laws, you have tons of opportunities to get your hands on other people’s money, quite legally and legitimately, and put it to work for you.

And like The Donald, you get to keep the upside — and let the others eat the downside.

Source: MarketWatch.Com

Leave a Reply

Your email address will not be published. Required fields are marked *