How Everyone CAN Get Rich - Practical Guide

[bylto]

I would just like to bring to everyone's attention an article I have written about how to get rich. The reason I think it is of interest is because most books, programs on this topic teach you how to acquire the mindset of a wealthy person (which is extremely important) but not the practical steps of how to acquire it. Here, I detail one that I feel is very do-able. The emphasis is on becoming a millionaire. A shameless plug, I know . Thanks guys, please check it out.

Build Your Life To Order ™ » Blog Archive » How EVERYONE Can Get Rich - A Practical ‘How To’

[Cron]

If there is a limited amount of wealth ( material resources ) in the world can everyone be rich? Doesn't one person having more, mean that other people must have less?

[bylto]

No Cron, I think that's a very old-fashioned view of wealth. To get rich doesn't mean taking it from somebody else at all. Wealth can be created. If you think wealth is scarce then it will be for you.

[Dave Kaminski]

Also not everyone wants the same level of wealth.

I'll be perfectly happy when I'm making 150k-200k a year, or sustaining a lifestyle similar to such and building my early retirement as quickly as possible.

Others would be completely happy at 80k a year or even 60k a year etc. Others need much more! Not everyone manifests the same outcome. (For example, I don't like Mercedes at all )

[nvictor]

Bylto,

what if I can't wait more than 5 years. It's not that I want to be in the million but it's just that I need over 1000 dollars a month...

[Doku]

Originally Posted by Dave Kaminski

I'll be perfectly happy when I'm making 150k-200k a year, or sustaining a lifestyle similar to such and building my early retirement as quickly as possible.

I used to think that as well. When I started out, it was "I'll be happy when I make 50k." Got a job at 60k, and it quickly became, "Man, if I had 100k per year, I'd be all set." Got that job. "Ok, 100k is almost doing it. 150, and I know I'll be good." That came and went as well. Every single time, my lifestyle adjusted to my income.

The biggest challenge to becoming wealthy is not the income, it's the saving. I'm still working on that one.

--Doku

[bylto]

I used to think that as well. When I started out, it was "I'll be happy when I make 50k." Got a job at 60k, and it quickly became, "Man, if I had 100k per year, I'd be all set." Got that job. "Ok, 100k is almost doing it. 150, and I know I'll be good." That came and went as well. Every single time, my lifestyle adjusted to my income.

The biggest challenge to becoming wealthy is not the income, it's the saving. I'm still working on that one.

So, so true. What most people do is increase their liabilities as their income increases, I personally don't do it that much. As far as savings go, I find it incredibly easy, i get it deducted from one account into another automatically so I don't even notice. I can then use this money to invest - it feels like 'free' money

nvictor, if you are looking just $1000 a month positive cashflow, consider real estate investing. You could get your goal in a few months never mind 5 years if you really wanted. Tenant income obviously needs to be higher than the mortgage repayments, e.g. if you could raise $600 in rental income and had to repay $450 in mortgage repayments, you would only need to own 6-7 homes. It all depends on what the market is like where you are. You could always buy in a different part of the world for quick capital gains, e.g. Bulgaria was good for a while, as it recently joined EU, 25% increase or so annually. Obviously this is great as its a leveraged investment i.e. your actual investment might be $10,000 but you are earning 25% interest on $100,000 Obviously if you have no initial capital you need to start saving or find a way to serve enough people to attract it.

Thanks

Mark

[TheColonel]

Originally Posted by Doku

I used to think that as well. When I started out, it was "I'll be happy when I make 50k." Got a job at 60k, and it quickly became, "Man, if I had 100k per year, I'd be all set." Got that job. "Ok, 100k is almost doing it. 150, and I know I'll be good." That came and went as well. Every single time, my lifestyle adjusted to my income.

The biggest challenge to becoming wealthy is not the income, it's the saving. I'm still working on that one.

--Doku

Generally speaking, money is like gas. It expands to whatever size container it's in.

[John Wesley]

Does anyone else think that this societal craze for wealth is a disease? True, anyone can get rich, but not everyone can. There isn't enough to go around. The burning desire to get rich isn't natural either, it is the result of constant marketing campaigns that persuade us to buy products we don't really need and media that worships the wealthy. I think it leads to a lot of dissatisfied people who would otherwise be content with a comfortable existence.

[Doku]

Originally Posted by John Wesley

Does anyone else think that this societal craze for wealth is a disease? True, anyone can get rich, but not everyone can. There isn't enough to go around. The burning desire to get rich isn't natural either, it is the result of constant marketing campaigns that persuade us to buy products we don't really need and media that worships the wealthy. I think it leads to a lot of dissatisfied people who would otherwise be content with a comfortable existence.

I don't think that the "craze for wealth" is a disease as much as the craze for an appearance of wealth.
What I consider the "big three" are cars, homes, and fancy/useless trinkets that the idiot consumers refer to as "bling." Most of that is the proverbial "keeping up with the Joneses," and is driven by the mass media. Best example of krap driven by the media? Diamonds.

My personal faults, and what's dragging me down is: I bought too much house, I eat out too much, and I spend too much money taking friends out to dinner.

I'd like to highlight a few statements 'though.
"There isn't enough to go around." Ever notice how the people saying this are usually the ones that are not wealthy? (note: I had a job at 12 to help support the family. I am not a silver spoon kid)

"The burning desire to get rich isn't natural" Actually, the burning desire to be lazy is. And in order to be lazy, you have to be independantly wealthy. To be independantly wealthy, you have to get rich.

"I think it leads to a lot of dissatisifed people who would otherwise be content with a comfortable existence." Ignorance is bliss? If you are saying that the media is telling people that they need to buy the iPhone and xbox360 and ferarri and ... to be happy, then I agree. Weak people getting brainwashed sucks. If you mean to say that people would be happier if they didn't know that that stuff existed, then I think you're not looking at the situation correctly.

[bylto]

What I consider the "big three" are cars, homes, and fancy/useless trinkets that the idiot consumers refer to as "bling."

agreed

"There isn't enough to go around." Ever notice how the people saying this are usually the ones that are not wealthy?

agreed people that hold an opposite view attract wealth

"The burning desire to get rich isn't natural" Actually, the burning desire to be lazy is.

agreed

If you are saying that the media is telling people that they need to buy the iPhone and xbox360 and ferarri and ... to be happy, then I agree.

agreed

[wilsonng]

Being rich does not automatically make you happy. It removes though, the primary cause of unhappiness, but I think the best advice I can say is that if you are still unhappy having 100k $ a year, it is unlikely you will find happiness when you make 200k or 500k $ a year.

[Nelson]

I personally don't think desiring mass amounts of money is a problem/disease/whatever, neither is desiring nice things - neither is it wrong for the media to make diamonds look good.

This is a capitalist society - we are extremly driven by money. I think it's probably one of the most natural desires on the Earth, because everyone and everything in nature desires to flourish.

If you have two rabbits sitting in paradise (no predators, no natural disasters - plenty of food) they reproduce and take up all the land and eat every bit of food, it's the natural response.

In America we are rabbits sitting in paradise. It's completely natural for people who have the potential to use all the resources to actually aim to use all the resources.

By utilizing all that we can we create value that boosts society as a whole. To obtain wealth you must create some value that is worthy of wealth. Thus we distribute the almost limitles resources in America to those who try the hardest to make the world better in some way. There is nothing wrong about it - play by the rules and you get paid.

[bylto]

By utilizing all that we can we create value that boosts society as a whole. To obtain wealth you must create some value that is worthy of wealth. Thus we distribute the almost limitles resources in America to those who try the hardest to make the world better in some way. There is nothing wrong about it - play by the rules and you get paid.

Exactly. To obtain wealth, the right way, you must be adding value to others in some way first, sewing and reeping.