THE FASTEST WAYS TO BECOME RICH

11:38 AM


The fastest ways to become rich: Below you will find a list of the fastest ways to become a millionaire. None of them are easy and some of them require significant risk and you could and people do loose their money and hard earned savings.
1.      Establish multiple streams of income: Most millionaires have more then one income source. They might be a doctor, lawyer, or business man, or even Mr. White Collar worker, however, they have established other streams of income.  I recommend that you read Rich Dad Poor Dad it is an excellent book about creating multiple stream of income.
2.      Invent something: Do you ever think of an invention only to see it in the store one year later and everyone seems to be buying it? Doesn't that just grind you the wrong way. Inventing something is a fantastic way to get rich. A lot of times you think of an idea and you don't really pursue it or don't know how and that is how your invention idea fizzles and stays nothing more than an idea. If you are going to try to invent something go for it and don't do all the work alone. Don't worry too much about trying to patent it, file a statement of invention for $80 with the patent office to protect it for one year and then spend the next year trying to manufacture the product or sell the product.
3.      Start a business: There are a million different ways to ways to make a million and there are a million different business to start. I would recommend picking something that you are passionate about. Again the goal is to make money, if you can make your first $50 then you are on your way, you need to replicate the first $50 again and again and when you get too many orders or requests for service you need to hire a person and then the next person and so on. Make sure you take advantage of the Small Business Association in your area to learn from the resources that they have to help you start a business.  Another thing to remember is don't try to just create another job for yourself.  Find a business that allows you to create passive income.
4.      Smart stock investing: Warren Buffet is probably the most recognized stock investor. He not only buys stocks but he buys entire businesses as well. Getting rich with stock investing is not easy, you have to do a lot of homework and research and the tough thing for me is to know when to sell my dogs and not take huge losses.
5.      Investing in real estate: Investing in real estate is a popular way to become a millionaire. Unless you have great foresight and were able to invest in places like Florida or Vegas before they started to boom you will probably not get rich overnight with real estate but it is a great way to develop a passive income. You can buy and hold and rent property, buy and flip fixer uppers, or many other methods.
6.      Produce something: What do I mean by produce something. Most people know what movie or TV show producers do, they underwrite a show and hope to make a profit off the show. There are many different things to produce that are much smaller than producing a movie or a TV show. For example one person that I knew organize and produced a bike tour in Michigan. They had over 10,000 people a season going on their bike ride and they made money by booking the hotel rooms and accommodations for the bike tour.
7.      Sell something: Ebay has make this very easy for most people to sell something. The great part about selling is that is repeatable. If you find something to sell and can sell 10,000 of them you can potentially make a lot of money. For example I see people on eBay selling ink cartridges and cell phone batteries and they specialize only in these items and they have sold tens of thousands of them. Not a bad side business in my book.
8.      Solve a big problem or fill a big need: Do you have trouble find a lead for your Tupperware? I do. So someone who had the same problem invent that silly little Tupperware hold with all the same type lids and now and sold thousands of them one TV and in stores everywhere and the get $20 bucks for it. This person solved a problem and not is making big money off of the idea.
9.      Write a book: Did you know that J.K. Rowling is a billionaire. The Harry Potter books and movies have been incredibly popular over the years. I am not saying you need to be the next J.K. Rowling but selling 100,000 books on some topics might be a nice side income for you.

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