Do you want to learn how to get rich? Do you want to be wealthy enough so that you can finally buy your freedom?
Anyone can learn how to get rich, but to act on what you’ve learned is the key to acquiring wealth. And I’m not talking about unrealistic ways of getting rich.
There is no magic formula that’s going to make you a millionaire overnight.
But there is a way to get there through talent, hard work, and ambition.
You don’t have to be a cheater to make it in this world. Many self-made people have earned their money ethically through hard work.
It also doesn’t matter how old you are. Entrepreneurs can be in their 20s, 30s, and even 60s; it doesn’t matter.
Colonel Sanders founded KFC when he was 62 years old! Sometimes success is achieved later on in life.
In this article, I will show you some of the realistic ways to get rich. These are methods that real people have followed. These are the people who became rich realistically.
You need to follow in their footsteps.
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- How Can I Get Rich Fast?
- Realistic Ways To Get Rich Fast
- A Better Way To Become Wealthy
- You Need The Building Blocks To Get Rich
- You Need Education
- But Not All Education Is Treated Equally
- Start Your Own Business (My Favorite Method To Get Rich)
- Can I Get Rich With A Normal Job?
- How Can I Become Rich With No Money?
- How To Get Rich On The Internet
- Save Your Money
- Invest Your Money And Get Rich
How Can I Get Rich Fast?
It definitely is possible to become wealthy really fast, but just not realistic. Never make your goal to become rich fast. Thinking that way has gotten a lot of people in financial trouble.
Just look at all the gamblers and extreme risk-takers who try to make money overnight. Most of the time, doing that kind of stuff is a bad idea. It’s also hard to break out of that mindset once you’re in.
Instead of doing that, think about this rationally. When most people say they want to get rich fast, most of them mean that they want to have money at a young age and enjoy it. It’s better to have $1million as a 20-year-old rather than as an 80-year-old.
We can all agree that it would be nice to have that kind of money at a young age. But how? Well, here are some ways:
- Use Your Talents
- Do Extremely Well In School
- Start Very Young
Realistic Ways To Get Rich Fast
I listed above some of the more realistic ways that a person can get rich fast.
- The first way is to use your talents.
- Your talents are the gifts you’ve been born with. So, if you are a gifted singer, hop on SoundCloud or Youtube and start singing. Likewise, if you’re athletic, try to get into a professional league.
- However, this way is not always ideal for everybody. Most of us don’t have these kinds of gifts, and if we do, we don’t realize them until later in life.
- The second way to become rich fast is to do extremely well in school.
- Doing good in school is probably the most realistic way to get rich really fast. Because if you have flawless grades, you can get a high paying job and make a lot of money.
- Yet, again, not everybody can do this. Some of us just didn’t flourish in school. Some of us learn through self-education and not in the classroom. If that’s you, then it’s okay. Everybody learns differently, don’t let past experiences hold you back.
- The third way is to start young.
- It’s not a coincidence that the children who hit the books from a young age are usually the most successful. Now obviously, none of us have a time machine to go back and change how we were.
- But it is an advantage when you start learning about business and personal finance from a young age. You also won’t have to work as a child. That means more time dedicated to reading and learning.
A Better Way To Become Wealthy
So we talked about how to get rich fast. For the most part, those opportunities come at a young age. When you have no responsibilities, it’s easier to study and get good grades. Getting good grades sets kids up for a bright future.
However, what if you missed that opportunity? What if you blew through your childhood playing video games and getting average grades? Is there any hope?
Well, I can assure you that, yea, there is hope. Actually, there’s a ton of hope. Remember what I said earlier about entrepreneurs starting at an older age? A study done by the University of Pennsylvania revealed that not only are entrepreneurs more likely to be in their 40s, but they might actually have the advantage.
There’s plenty of reasons why this is but the bottom line is this: IT’S NEVER TOO LATE.
It’s never too late to be successful. You can do it, just like how so many people have done it before you. The idea of the mid-life crisis is BS. You can become wealthy at any age. Whether it will be fast or rich will depend on how you do it.
You Need The Building Blocks To Get Rich
The building blocks are probably the most crucial aspect to consider since it’s something that people tend to neglect. The building blocks are your hard work, sweat, dedication, and sacrifice.
That’s what’s going to separate you from the crowd of unsuccessful people and into the top 1%. Every person who has attained wealth in some way or form has worked hard for it.
Ask any businessman the amount of time and sacrifice it took for them to establish just one business.
They’ll let you know how difficult it was.
Don’t fall into thinking you can become rich by just slouching around and have money come your way.
You have to get up and work hard. Whether that be to study for school, start your own business, or pursue your greatest passion, working hard is the key to success.
There are just too many misconceptions about the rich.
The popular opinion today is that most rich people don’t work hard. It’s believed that they inherit their money without having to work a day in their lives.
That is just false. On the other hand, some rich people have indeed inherited their wealth, but most of them earned it.
However, I’m not just talking about billionaires like Elon Musk or Jeff Bezos. The majority of wealthy people in America are millionaires that don’t show off their money.
These are people who started small businesses or climbed their way up the corporate ladder. It’s hard to spot them since they’re not on the news every day.
They don’t buy a ton of fancy things either.
That’s how they blend in with everyone else.
If you don’t believe me, read The Millionaire Next Door, and you’ll know what I’m talking about.
You Need Education
Now, this can get a little complicated, depending on your situation. The biggest thing holding people back from going to college in the United States is the cost.
Let’s face it: student loan debt is a huge issue that we can’t ignore. Having $30,000 to pay off after graduating is not something to look forward to.
College, however, is slowly becoming more important than ever. With over 30% of the workforce now holding college degrees, a degree is becoming more necessary in the job search.
Reaching for a higher salary will give you more opportunities and can pave the way for you to become rich. Remember that a doctor has a better chance of getting rich than a waiter does. Education is the greatest wealth-building asset you can have.
Check out this graph I made based on the information provided by smartasset.com. The statistics say it all; a typical college graduate can earn an annual salary of $59,000 a year, not including benefits.
But, what’s even crazier is the unemployment rate for a college graduate is only 2.8%. Compared to a high school grad at 5.4%.
The comparison makes it clear; a high school graduate earns around half of a college graduate’s salary and is almost twice as likely to be unemployed. Throw in a master’s degree, and it becomes clear that education is the key to financial success.
But Not All Education Is Treated Equally
Nonetheless, don’t be ashamed if traditional education is not for you. Whether you don’t like it or can’t afford the cost, there are other ways for you to get educated.
There have been many people throughout history who have achieved success without any formal education. For example, look at Abraham Lincoln, who is one of the greatest presidents in American history.
He never went to college.
He was entirely self-taught, having a love for reading at a young age and a strong passion for learning. You must passionate since it will give you the motivation to learn more. A passion for education and a strong work ethic can both go a long way in becoming rich.
However, just make sure you are consistent with it.
The worst trap you could fall into is to lose motivation and give up. College is good because it gives you a reason to learn. But without it, you could lose interest.
It’s easy to prioritize your 9-5 job over taking the time to educate yourself. Don’t be that person who gives up; realize that education is necessary to become rich, whether it is formal or not. It is your greatest wealth-building asset, so you must use it wisely.
Start Your Own Business (My Favorite Method To Get Rich)
Self-education and starting a business can go hand in hand. Of course, there have been many famous entrepreneurs who’ve never finished college.
Some that come to mind are Steve Jobs, Bill Gates, and Mark Zuckerberg. All of them have accomplished far more than anything they could have done with a college degree.
However, these entrepreneurs were confident enough in their skills to not rely on college. The fact that they are geniuses didn’t hurt their chances either.
Likewise, many successful entrepreneurs have completed college and had either quit their jobs or started a business on the side. Using the skills you gained either in college or through your professional career to start a business isn’t such a bad idea.
Whatever way you chose to pursue, understand that getting rich won’t be a walk in the park. It takes years of hard work and dedication to reach the level of wealth you desire.
Having a good work ethic and a strive for success is great to keep you from quitting and settling for whatever comes your way.
Whether you decide to educate yourself and start a business or go the college route and secure a high paying job, the odds are in your favor.
Can I Get Rich With A Normal Job?
The odds of you getting rich with a “normal” job are slim to none. The reality is that the amount of money you’d make wouldn’t be enough. For most people, a normal job pays enough money to take care of the essential bills.
To become wealthy, you must have a considerable boost in income. That’s how people get rich fast. They start businesses or get jobs that pay them a lot of money.
Getting rich slowly is more like putting some cash aside while working a 9-5 and investing in index funds.
It’s definitely possible to become a millionaire that way, even if you work a normal job. Yet, the problem with doing that is it’s too slow. You won’t get to enjoy any of that money since it’s your life savings.
Now, if that sounds boring, it’s because it is.
It’s great that you will be able to retire, but what about right now? Are you supposed to just settle in a mediocre job that pays just enough to survive?
Well, no, you don’t. As I’ve already said, the best way for someone to get rich is to start a business.
You don’t have to be as successful as Warren Buffett or Elon Musk. Most millionaires are small business owners. They make their money through hard work and honest business practices.
Just look at the difference in income between a small business owner and someone who works a typical job. The graph above depicts that, and it’s the reason why you should start a business.
If a business is successful, you will get rewarded with a pay raise. However, with a “normal” job, there is no boost in salary. And even if there is, it’s not going to be as significant.
How Can I Become Rich With No Money?
Ok, so we realize now how important it is to start a business. “Normal” jobs are not going to cut it if we want to build wealth at a steady rate. But how do you get started? How can you start a business with no money?
There is a cause for concern here, but it’s not as big of a deal as you might think. I made a point in another post, Can You Still Make Money In The Food Business, about immigration. In that article, I talk about how immigrants came to America without any money and started small businesses.
How did they do it? If an immigrant who doesn’t know the language, has no connections, and no education can start a successful business, then why can’t you?
Smallbiztrends.com has a cool article on saving money for a small business. It seems that these are the most popular ways:
- Asking Friends and Family
- Credit Cards
So, how do you start a business with no money? You save money, ask for it, or get a loan. And remember what I said about the immigrants.
When immigrants come here, they start in low-paying jobs, like the ”normal” jobs in the graph above. They don’t use the income for those jobs to get wealthy: They use it as a stepping stone.
Immigrants save money from what they make through their jobs, and then once they have enough, they start their own businesses. However, most of them start small. For example, they will save up to open a hot dog cart, use the revenue from that to open a coffee shop, and then use the savings from that top to open a restaurant.
How To Get Rich On The Internet
Another great way to start a business with no money is via the internet. The reason is that most online businesses have low startup costs. Plus, with the onset of the coronavirus pandemic, traditional small businesses are getting hit hard. Restaurants, bars, gyms, all of these small business owners are suffering.
However, one advantage that internet entrepreneurs have over a traditional business is that they work from home.
The internet is still very new, and the business opportunities here are endless. Here are a few online businesses you should consider starting:
Start a Blog
Tons of people have made fortunes by blogging on the internet. Blogging is not dead. There are blogs everywhere online, and they serve to answer your questions every time you Google something. You can use a blog to sell your services and products to people online. It might take some time to build a following, but it’ll be worth it.
Blogs make money through:
Find a niche and start building your following. Blogging is a long journey, and to get rich doing it will take time.
Become a Freelancer
You can start freelancing right now to make money.
Starting a freelancing business will take a little more effort though. There are freelancers from a wide range of industries and skillsets. Some of the more popular ones are freelance writing, photography, web design, programming, etc.
The key here is to build a strong portfolio of work. The most successful freelancers will have professional looking websites. They also tend to be well paid, depending on how much experience they have.
Despite what you might think, the best freelancers earn a good amount of money. Some of the higher-paid freelancers easily make well over six-figures.
Like any business, to get there will take experience and skill.
Start a Digital Marketing Agency
Find what service you can do best and sell it to others online. There are a ton of digital marketing agencies online, but somehow there’s room for more.
You can gain credibility through blogging and showing your SEO skills to clients. After that, it’s like running a traditional business. The money will come if you can get results for customers.
There’s a lot of competition in this right now since there are many digital marketing agencies online. The best way to prove yourself in this industry is to get social proof and a portfolio. Look at Neil Patel, he’s done a great job on his blog and shows that he knows what he’s talking about.
Sometimes that’s what it’ll take to find customers.
Start a YouTube Channel
You might think that this is a waste of time, but you’d be wrong. YouTube has made many people a lot of money over the years. The key is to be yourself and create amazing videos. The views will come with time.
It’s not going to be the easiest thing to do. But it’s doable.
Starting a YouTube channel is like starting a blog. Although, you can grow a YouTube channel much faster than a blog. I’ve seen many small channels blow up in like two weeks to a month.
I’d recommend doing this as a hobby at first. Since success on YouTube is so unpredictable, it’s best to tread lightly. If you see your channel pick up traction after a while, then keep at it. But it won’t matter if your channel never grows either.
The best part about doing YouTube is that it’s fun. So even though you might not hit it big on there, you’ll at least have a good time doing it.
Start an Online Store
Starting a store online is hard and will take a ton of work. But if you can successfully market yourself, you’ll be one step ahead of everyone else. The most popular items to sell online are clothes. It’s actually more doable to sell clothes online than you might think.
You can make a fortune if you do it right. It might also be a good idea to have blogging and digital marketing skills for this. It will help you market your business, allowing it to grow.
There are probably more ways to get rich online, but you get the idea. Starting through one of these ways will help you get there.
Save Your Money
Saving your money can be challenging, depending on how good you are at restraining yourself. It can be tempting to buy new things right when you get a
I’m not saying that you have to live below your means, but you need to have self-control.
I had referenced the importance of saving money in my previous post, Common Money Mistakes To Avoid. Cutting out unnecessary expenses like overpriced clothing and $5 frappuccinos every day will be nothing but beneficial to your bank account.
For someone who makes a decent income and needs more money to invest in their careers, spending less will help a lot.
However, for those who’ve already made it big with a successful business or high paying job, saving becomes even more important.
Having more money may cause you to spend more on things you don’t need. Buying an expensive car, for example, is a huge liability. Cars are the worst since their value plummets right when they leave the dealership, and their daily expenses for gas and repairs can add up.
Other things like buying a house, taking too many vacations, or dining out at expensive restaurants can hold you back financially.
This is one of the reasons why actors and performers file for bankruptcy so often.
It’s because they don’t know how to handle their money.
I also wrote an entire post about this: To Save Money or Spend Money: Which Is Better?
Invest Your Money And Get Rich
Now that you’ve established a successful business or career, it’s time to learn what to do with all that money. Learning how to invest is critical in achieving wealth.
Having a successful business or a good job is great, but you’ll need more than that to get rich. Let’s say, for example, you start a successful small business.
Expanding that business will be difficult since it requires more work from you. But, by investing the profits from the first business, you can reap some great passive income.
Likewise, you may even have a good-paying job but high taxes are draining your salary.
Whatever the reason, starting a business or pursuing a career alone is not always going to make you rich. Investing in stocks is great since they are highly liquid, and you need little money to start.
If you have the capital, you could invest your money into high paying dividend stocks that could produce an annual yield for you.
Your wealth will increase over time, but if you have a good eye for stocks, don’t be shy to invest in something new and risky. Furthermore, you could also invest your money into some real estate.
Real estate might be less liquid than stocks and require more capital, but the rewards can be extremely fulfilling. You could become a landlord and profit off the passive income you get from your rentals.
Or you could research the market and learn to flip homes. It is possible to make a substantial profit from flipping real estate if you know what you’re doing. Whatever you chose to invest in, your education and skills will give you a huge advantage in growing your wealth.
This is just a simple layout of the best path to follow when trying to get rich. I emphasize education so much because without it you’re at a huge disadvantage. Every single great entrepreneur has gone through some level of education or simply had a passion for learning.
Their education gave them the skills and knowledge to either get a high paying job or start their own business. From there taking advantage of investments and keeping a track of your finances will lead you on your way to becoming rich.
To sum up, focusing your energy on your hard work and determination will get you farther than any lucky lottery ticket. Luck is only a small part of the formula; with hard work, passion, and a little brilliance, you’ll get to where you want to be.
Do you agree with my ideas on how to get rich? What are some of your strategies to get wealthy?