Do you have the ‘millionaire mentality’?
My buddy tells this story about one of his friends.
His friend supposedly walked into a bank in New York City one day and asked to see a loan officer. He told the loan officer that he was going to Europe on business for a month or so and needed to borrow $10,000.
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His loan was approved, provided he put up some collateral for the loan.
His buddy handed over the papers to his new Lamborghini parked on the street in front of the bank. He submitted all the necessary documentation and everything checked out.
Many executives had a good laugh at the expense of the eccentric man, who used a $350,000 Lamborghini as collateral against such a small loan.
The car was held in the bank’s underground parking garage.
Supposedly, a month later, the guy returned, repaid the $10,000 and the interest, which came to about $40
The bank president said, “Sir, we appreciate your business. While you were overseas, we checked you out and found that you are a deca-millionaire. What puzzles us is, why you would need 10 grand?”
The man replied: “Where else in New York City can I park my car for 40 bucks for an entire month and have it taken care of so well?”
Most people who have been successful in life have done so because they are great stewards of capital and they see opportunity where most people don’t. They have made large amounts of money because every dollar has great meaning to them.
Remember, obstacles are the things you see when your take your eyes off your goals.
My investment newsletter, which many of you have read, has been successful because when most pundits see doom and gloom, I see opportunity.
About the Author: Bill Spetrino
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