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.
: 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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