Top 7 Ways To Get Rich
I would like to edit the topic question: How can I get rich on my own while I am still young? If you looked at an annual financial statement you would see that we sold $ 1 million dollars of Widget A and made a 10% profit of $100,000. In my opinion, there are two categories of people that would find wealth creation and making money a difficult process.
Stocks can go up dramatically over a relatively short period of time and make you rich but you have to have the money to invest and you have to pick the right stocks at the right time. They learn to pick their own investments and they build businesses where others work to earn paycheck while their businesses pay them rich passive income.
Rich people will buy assets first (assets are things that put money into your pocket), and then they will spend the money the asset generates them (like rental income from a rental unit) on their liabilities (like cars, clothes etc). The passive income continues to come in and they can take their capital and look for another investment.
Keeping up with taxation, investments and credit laws is a full time job, even for be millionaire those who work at it every day. If your target is $ 1,000,000,000 and now you have only $100, then every year it has to grow 10 times in order to reach your target. There are 2 good ways to invest and get rich; the real estate market and the stock market.
This is not the type of training you can get in school, rather life methods and business building methods needed to create wealthy. If they are purchasing an investment property they seek to learn something new about how to invest in property better. The rich can afford to make investments to increase their wealth.
Say for example, two persons are looking at a yacht, admiring it. The person who chooses to remain poor would say: "I can't afford to buy a yacht." The person who chooses to find ways to create wealth would say: "What can I do to own a yacht?" The thinking process of the poor on how to make money is automatically shut down.