Getting rich through investing only requires an income, decent spending habits, and excellent investment discipline.
Source
In fact, anybody with those traits can get rich in just a few years and it's possible to do so even if you're already poor. You don't have to be born into money, either. If you work hard at it, you can become wealthy over time.
But it takes a special kind of person to invest wisely. That's why the best investors are people who are not motivated by greed or ego. They aren't out for quick
profits. And they know how to avoid the pitfalls that plague most speculators.
The best thing about these investors is that they're honest. They tell you exactly what they think, and they never try to fool you. I've had many long conversations with some of them, and I always leave feeling like I learned something.
So if you want to learn from some of the world's smartest investors, then read about them. But first, let me give you a word of warning: these people are very smart. If you don't understand everything they say, you'll probably get confused and lose your way.
So if you find yourself lost along the way, stop reading now and go back when you have a good grasp of the basics.
Read books about investing
You can start by reading books that will teach you how to analyze stocks, commodities, currencies, and other investments, as well as how to use charts to predict market trends.
There are dozens of books that can help you become an investor. If you really want to dive deep into this subject, though, I recommend The Warren Buffett Way, which you will learn the same principles that made Warren Buffett one of the richest men in the world.
If you're interested in learning more about how to become wealthy, I highly recommend the book, Rich Dad, Poor Dad. This book explains the two different kinds of people that make up our economy—the rich and the poor. Most people have no idea that they are members of one of these groups. You may think you're part of the middle class, but if you're not careful, you could end up being a member of the lower class.
And you might not even realize it until it's too late.
If you're a rich person, or you aspire to be one someday, you should read this book. After all, you won't get any richer if you keep thinking you're middle class. Now that we've established that everybody can become rich, let's talk about how to actually do it.
Becoming Wealthy
Most people assume that becoming wealthy is difficult and that certain barriers must be overcome before anyone can achieve financial security. But the truth is, most people have already achieved wealth. We just don't know it.
Let me explain.
As I mentioned earlier, the best way to become wealthy is to work hard, save money, live modestly, and invest.
If you want to become wealthy, you need to think about two things:
• How much money do you need to earn to support yourself and your family, and
• How much money do you need to invest to grow your wealth?
•
The amount of money you need to earn depends on several factors:
• Your age.
• Your gender.
• Your marital status.
• Your career path.
• Your children.
• Your state of residence.
• Your health.
• Your current standard of living.
• Your net worth.
Once you have a good understanding of these factors, you can calculate the minimum amount you need to earn each year to support yourself and your family. It's important to note that this amount doesn't include savings. You will need to save money to build wealth.
Earn as much money as possible.
But that's easier said than done. Most people don't have the discipline to work hard and save money, so they end up relying on other people to support them. If you're one of those people, then you'll never become wealthy.
Of course, there's always the option of becoming self-employed. If you're willing to risk failure, then you can set your hours, choose your clients, and decide what to charge. But remember that self-employment isn't easy. You'll need to put in a lot of effort before you start making real money.
It's also important to consider your expenses too. If you don't control your spending, you'll never get rich.
Managing your finances
To help you manage your finances, I recommend starting with the following three books:
• I Will Teach You to Be Rich
Book by Ramit Sethi.
This book explains how to budget, save, invest, and protect your financial future.
• Rich Dad, Poor Dad, by Robert Kiyosaki.
This book reveals the secrets of the rich and gives you the tools you need to achieve financial independence.
• The Millionaire Next Door By Thomas J. Stanley and
William D.
• Secrets Of The Millionaire Mind by T. Harv Eker.
These books show you how ordinary people can become millionaires.
These three books will teach you the basics of personal finance. After you read them, you'll know how to manage your money.
You'll also learn about investing, saving, and protecting your money. These skills will serve you well for the rest of your life.
Once you have a good grasp of your current financial situation, you can use this information to determine how much money you need to earn each year. Once you have a rough idea of your income requirements, you can begin earning more money.
To increase your income, you can either look for a new job or try something different from your existing job. Either way, you need to think outside the box.
For example, you could sell something, open a restaurant, or become a professional athlete. Or you could go back to school to study computer programming. Whatever you choose, make sure you stay flexible. Otherwise, you'll miss opportunities that come along.
Wealth takes years to accumulate
If you're looking to build wealth over time, then you need to be patient. It takes years to accumulate significant amounts of money, and you'll probably need to work long hours in the process. Before you jump into any of these methods, though, you should ask yourself the following questions:
• Do I really want to earn more money?
• Is it worth it?
• What do I need to do to earn more money?
I'm sure you've heard people say that you shouldn't judge a book by its cover. Well, the same thing applies to money. Money is a tool. A tool that can help you improve your life greatly. So go out there and make some money for yourself.