How to become rich!
Most people think there is a “secret” to becoming rich, that only certain types of people can become rich, that they have no chance at becoming rich… False on all three assumptions.
There is no secret to becoming rich, it just takes time, hard work, and persistence. All you have to do is save as much money as you possibly can and buy assets with your money and not liabilities.
Assets are things that increase in value over time. This includes: A home, stock in a company, real estate, bonds, other investments…
Liabilities are things that decrease in value over time. TV’s, cars, clothes… Just to name a few.
Liabilities might be more fun to own, you might get more of a short term thrill from buying them, but in the grand scheme of things what do liabilities do for you? Is there a huge difference between a 32 inch TV that was on sale for 400 dollars and a 52 inch TV that costs 2 thousand dollars? Is there a huge difference between a used car in good condition and a new car that will set you back 30 grand?
You do not have to be a genius to be rich, you just have to be smart with the financial decisions that you make. Invest as early and often as you can in the stock market or real estate. Over time you can expect an 8% return. After twenty and thirty years an 8% return annually will do amazing things to your original investment.
Have discipline and make smart money decisions and you will be rich before you know it, it is a fun ride to the top!