Protz millionaire reveals: This is how you too can become rich! Tips from the Viennese entrepreneur

Protz millionaire reveals: This is how you too can become rich! Tips from the Viennese entrepreneur

Florian Koschat, a 50-year-old entrepreneur and investor from Vienna, recently published his new book “Still rich!” published. In it he gives hope to young people from financially disadvantaged households and wants to encourage them to actively improve their financial situation. In an interview with oe24 Koschat explains that he earned his first million at the age of 25 and is committed to a radical change in financial education.

His criticism is primarily aimed at the existing school system, which, in his opinion, does not provide adequate financial survival strategies. The entrepreneur lists five central tips that should help you become rich. These include changing your mindset, ignoring work-life balance in favor of hard work, making smaller investments and taking initiative, as well as changing your environment to surround yourself with successful people.

Five tips to get rich

• Mindset ändern: Armut ist oft eine Denkweise, die durch familiäre Überzeugungen geprägt ist.
• Work-Life-Balance ignorieren: Erfolg erfordert harte Arbeit und Fokus, nicht Pausen.
• Klein anfangen: Bereits kleine Investitionen sind besser als keine; Wissen ist entscheidend.
• Eigeninitiative zeigen: Mehr Bewerbungen schreiben und aktiv nach Jobs suchen.
• Umfeld wechseln: Sich mit erfolgreichen Menschen umgeben und deren Denkweisen übernehmen.

In addition, his book offers a 10-question test to identify unhealthy financial beliefs. As an additional incentive, Koschat is giving away tickets for a test drive in a Rolls-Royce, which includes a photo shoot.

Financial literacy is key

The topic of financial education is also becoming increasingly important internationally. On September 24, 2024, Christian Lindner and Bettina Stark-Watzinger accepted a proposal from the OECD for a national financial education strategy for Germany. Although there is a diverse range of educational resources in Germany, there is a lack of common objectives and quality assurance Federal Government stated in a report.

The OECD highlights that Germany does not perform badly internationally when it comes to financial education, but there is still some catching up to do in certain areas and target groups. These include long-term savings, participation in the financial and capital markets and budget planning. Particular attention is paid to strengthening digital financial literacy.

Florian Koschat could make a valuable contribution to financial education with his initiative. His recommendations and desire for an educational offensive reflect the growing needs and challenges of financial education in today's society.