CINCINNATI, OH (FOX19) - Cincinnati restauranteur Jeff Ruby says he wasn't born with a silver spoon in his mouth, but as one of Cincinnati's stand-out success stories, he knows a thing or two about making it big.
Ruby ran away from him at age 15 and ended up with a scholarship to Cornell University. After that, he set his eyes on the restaurant business.
Along the way, Ruby says he broke every rule and "did it my way." Successful people make their own rules, he claims.
"I think in business and in life, the most important element in all elements is confidence," said Ruby.
Confidence is one of his three keys to success. Urgency and passion of your long-term goal follow next.
Some of the key steps Ruby followed are outlined in a recent Forbes article about "How to get rich."
The magazine says, like Ruby, most high net-worth investors come from humble beginnings. It also mentions that most successful people prioritize long-term goals.
Simply Money Financial Expert Ed Finke agrees. He says most successful people get an early start in planning their financial future. He suggests a simple formula for how much you need to save to start building your own fortune.
- 50 percent of your earnings goes toward what you need, like food and housing.
- 30 percent of your earnings goes toward what you want, like entertainment, dining out or vacations.
- The other 20 percent should go to savings.
To see Jeff Ruby's entire interview about his success, check out the video above.