How to become rich

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How to become rich

Many people dream to become wealthy. The rich live in an abundance of financial resources and are capable to possess luxuries beyond the reach of ordinary folks. Fortunately, the door to become rich elite is open to us. Let us find out what are the paths that lead us to the mountain of gold.

Life is not fair. Some people have great privilege to inherit a lot of wealth. Being in the fortunate lineage makes you rich automatically. There are also lucky people who win big in gambling or luck related games and suddenly rise to the peak of their life. Despite the luck, if they don’t manage their wealth properly, they will lose it soon.

The quick way of getting rich is business. The return on investment is normally high. It’s better if your business has high profit margin (sorry for the jargon) and keeps cash rolling in. Some people become wealthy even from small business. However, business is not for everyone. Besides the risk involved, you have to work a lot for a long period of time and might have to deal with corruption and threats from dark society if you’re unlucky. What a price to pay.

There’s a popular “middle class” way of climbing the wealth ladder – save and invest. It’s a long term and passive way of accumulating wealth. You just need to increase your savings (by earning more or spending less or both) and convert it into investment assets that either grow in value, or generate streams of passive income, or both. It takes years or decades before your investment can grow big enough to support your lifestyle. If this is how you want to get rich, I recommend you to learn about personal finance and investing. You need to properly know about your investment.

While saving and investing is the passive way to gain massive wealth, there’s also the active way – being very good at what you are doing. I don’t have to explain how much money top surgeons and champion sport men can earn. Michael Schumacher and Jackie Chan can easily roll in millions of dollars. What these guys have in common is expertise, and they are the best in their trade. Top expertise is rare, and rarity can command huge income. The market always rewards the best. It’s hard to make it big if you are just above average. You have to be the top. Fortunately, through experience, hard work, and learning, we can reach this level. We just have to sacrifice and pay the price.

There are people who choose the dark side and become wealthy through criminal acts, such as illegal trading (drugs, weapons etc.), robbery, and corruption. Some criminals don’t look like Pablo Escobar the drug lord. They are well dressed “gentlemen” who commit white collar crime, suck your money into their Ponzi scheme, or sell you rubbish for a huge stack of money. These people will never live with clear conscience and are hunted down by the authorities (unless they are more powerful than the police). When the bullet hits their heads one day, all their money instantly fades away like dust in the wind.

Tagged as: finance, investing, life, money, rich, self improvement, wealth