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Mitt Romney Shares 5 Tips for Financial Success

Last night, Mitt Romney spoke to a full house at Abravanel Hall in Salt Lake City. Discussing everything from terrorism to global warming, he also shared a few bits of wisdom to help people improve their financial situation.

1. Do your present job well.

“There are some people who are always unhappy with what they’re doing,” Romney said. “But if you want to be successful, do your present job well.” 

He went on to tell the story of how his “body man” from his 2012 presidential campaign—who did a variety of tasks from getting him clean clothes to scheduling bathroom breaks—went on to get a great position by a highly successful company because the right person noticed his work ethic. Moral of the story: by being the kind of person people want in their organization, you can find opportunities for growth and advancement.

2. Keep your eyes open.

“Watch to see if there are opportunities being missed by your current employer when you can go to [him or her] and say, ‘Hey, here’s a way we can solve a problem,’” he counseled. “Or there may be an opportunity for you to create an enterprise of your own and start a new business.”  

3. Don’t expect God to make you rich.

“There are a lot of people who think that God wants to make them rich because they will pay a certain percentage back to Him,” he said. “He’s doing more important things than worrying about your money—you’ve got to worry about your money. Don’t invest on faith, or just hope your investments will do well.”

Instead, Romney suggested you build personal investments in two ways: 

First, invest in things you know well—things like your job, or purchasing an apartment building down the street.

Second, invest in things that will protect your savings. “Invest in stocks and bonds,” he counseled. “The objective is not to get rich off of that kind of investing, but to ensure your nest egg is preserved.”

4. Look before you jump.

Romney said that before you jump into the next big opportunity, make sure you are ready to take the risk. “You have to be prepared to make a move. Do you have the support of your spouse and family? Do you have savings to fall back on? If it doesn’t work, where will you go next? You’ve got to think about where you’ll land.”

5. Don’t measure your success in life by material wealth.

“If you measure yourself by how many promotions you get or how much money you have, your success is going to be, to a great degree, up to chance,” he said. 

“If you define yourself and measure yourself by your faith, your service, the number of friends you have, the people you love, if you measure your success by those things, your success is entirely in your own hands,” he said. “The successful people I know make every effort to get those things right. Measuring yourself by what counts most will bring you the greatest happiness.”

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