Creativity is the most rewarding way to get rich. Other than that I don't believe there is a sure fire way to get rich. Its all about taking chances when it comes to getting rich by means of business. Other than that, I figured out ways to get rich over time.
1. Get a well paying job (preferably one that pays $100,000 or more)
2. Get good tax advice ( Get a good accountant who understands how to legally minimize your tax bill)
3. Save at least 20% of everything you earn (rule of thumb: expenses rise to meet income)
a. arrange to have 20% of your income removed into a savings account
b. keep your savings account separate from your spending account (you will budget your living expenses around the money that you have easily accessible)
4. Conservatively invest the funds that build up in your savings account
ex: mutual funds accounts, property funds, and a money market fund
5. Reinvest any income you get from your assets straight back into buying more assets
6. Never touch these funds
7. Wait ten years and you should be in the top 20% of wealth holders
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3 comments:
Creativity is key to being successful. Good Advice
good advice!
good advice seriously.
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