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Three Easy Ways to Get Rich

By Edited Sep 28, 2016 0 3

If you're like most people the you'll be thinking about money every day – not having enough of it mostly, and how to distribute what you have. Wouldn't it be great if things were different, if you didn't have to worry about money, that you knew, without frantically doing account balances, that things are OK for you financially. There are ways to make that a reality, and it's called wealth building, which is pretty much just a polite way of talking about getting rich.

 

It's much more than just getting money though, and building a big pile of it under your mattress for a rainy day. It's about making what money you have work for you, to make more money, and then re-investing that to make even more money. That's so easy to say – but how do you make it happen? It's remarkably simple – but it does take time, dedication and a dash of stubborn determination doesn't go astray either. To make it even simpler – here's the basic outline of how to achieve all your dreams – at a pace that suits you.

Dollar Fist

Save your cash and put it in the bank

This is a really old way to build wealth, and it may sound silly – but people have been putting money away in banks and similar financial institutions since … well … ages. And it works, at a snail's pace, and not really my style, especially since the interest rates aren't always that great, which affects your rate of return. If it's safety you want, but lower returns, this option is for you.

Invest in the stock market or forex

Everyone knows about the stock market, but the general feeling about it is that you have to practice some sort of voodoo to understand it, but that's not true. Shares (as stocks are known as in some countries) are a great way to invest your cash and make some money while you build up your capital and learn more about other investment strategies. As well as the stock market, you should consider forex, or foreign currency exchange markets to make some money in the short term. The best thing about forex is that your capital is massively leveraged and your profits stand to be large in comparison to your outlay. Of course that means your losses stand to be large too, but that's the risk you take!

Real Estate (35995)

Invest in real estate

A long term strategy as well as a short term one (depending on how you work it), real estate can be a great investment in your financial future and truly make you rich. There are so many different ways to make it in real estate both with capital and without any at all, that's my favourite investment vehicle for excitement value. The potential for earnings is enormous – of course depending on what you're doing with your property, and there is great opportunity for big profits in a down market.

I've outlined three popular techniques to get rich, and really recommend that you specialize in one of them, before you diversify into another. You must be dedicated and be goal focused every step of the way… do this groundwork and you'll be amazed how quickly your financial dreams come to fruition. Remember that 95% of people can be rich, but choose not to – don't be one of those people - learn more about money, finances and how to build your family's future. Enjoy your journey, and never give up.

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Comments

Dec 27, 2010 7:47pm
Sookie
I lean towards real estate, as I like to be able to touch and feel my money! Great article
Dec 29, 2010 4:19am
ErikRose
Real Estate's good, but doesn't have the sheer thrills and spills of the stock market/forex option. Different strokes for different folks though. Thanks for the comment!
Jul 18, 2011 9:25pm
smoot27ryan
I like the stock market. I have a portfolio thats invested in McDonalds, Altria, Johnson and Johnson, and Proctor and Gamble with a few other companies on my watchlist that I will invest in. I plan on holding these stocks for the long term and reinvesting all of my dividends until I plan on retiring
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