It is a well-known fact that everybody wants to be rich. But not most of us were able to achieve that state. It might be because of the situation you are currently in. It can also be because of your limitations to yourself.
Being rich looks as if it is a far fetch dream. But come to think of it, it is possible. Most of the rich people were able to crack the secret a long time ago. They even share it for everybody to learn from it.
The problem is, we are being stubborn or impatient when it comes to that. We often get tired and disheartened when other people tell us that it is impossible. So instead of continuing our path to be a rich person someday, we go to the wrong way.
Why? Because it is easy! That’s just the same principle between doing the right thing versus what’s convenient. We tend to go for the shortcut and ends up being fooled around by scammers so we can join them to the Loosersville.
So what can you do to really become rich in the future?
The best thing to do is to focus. If you keep one goal in mind and observe the things you need to do, you can definitely be rich!
Ignore bitter people who seem to think about all the negative things as much as they can. That’s their goal in mind. But not you. You are to win overall obstacles in life so you can set yourself apart from being mediocre or worse. Become poor all your life!
5 Things That Can Make You Rich:
1. Get a high paying job
Most gurus will tell you that you need to have a business to get rich. But how about if you came from a family who’s having a hard time to make ends to meet? For sure starting a business is not for you yet.
If you happen to be employed right now as you read it, then good. You are on the right track since it is the first step in our list. If you are not working and complaining about being poor, GET A JOB!
True. It is the only way for a regular person to earn an income. You have to work in order for you to survive. If you don’t work, you might die in starvation. How can you get rich if you are already six feet under?
Just to be clear, you will need to get a HIGH-PAYING job. Don’t settle for anything less. If you are still a newbie, fine. Get some experience. Then move on to another company who is willing to pay you more than what you are currently receiving right now.
If you are just scared to leave the security of your job currently and still earning the same wages every payday, try to find courage. You can either ask for a raise or find a better paying job. For sure, a lot of companies will hire someone as experienced as you are.
It’s okay to be scared. It is part of the fun. That’s why you have to just make sure to have some savings first and never ever quit until you already have a better offer. Do not settle for just a few hundred higher. Try to get an offer that can make a significant change in your life.
2. Buy a house
Now that you have a high-paying job, it is time to get this party started! No, we’re not going to go out and have a shopping spree nor spend all your savings since you have a better paying job now anyway. It is time to buy a house.
Most of us are renting an apartment to be closer to work or just because our parents were not that lucky to inherit a house from your grandparents. Just because they were unable to achieve that level, it is okay for you to do the same thing.
There are many ways to own a house nowadays. Do not be too ambitious for the meantime and just opt into low-cost housing. Sure, it is not your dream home. But instead of paying the rent every month and give your money to your landlord, it is best to use that money to pay for something that can be yours in the future.
A lot of people were unable to have their own home because they never tried. They want a big house right away. They want to look rich right away. Well, not you. Remember, patience is a virtue and it is the best time to apply it. If you end up hating that not so cool house you bought, think about the times that you complain the same thing with your landlord. Just fix it and suck up on it until you can already afford a better one.
3. Start buying rental properties
Buying a house doesn’t make you rich already. After all, the one you just bought is a liability. Since you have to live there and you are not earning from it actively, it is time to look for options to buy more houses or commercial properties that you can rent out to other people.
Since you are still getting paid to do a high-paying job, it is best to take this opportunity to get a loan from the bank again so that you can own a rental property. You may need to save some percentage for the down payment since you have an existing housing loan. But you can easily achieve that.
This time, you can choose. If you want to earn a good income out of it every month, you need to be very picky. Make sure that it is located in a prime location. People will fall in line just to get this piece if the property rented from you. It will mean a lot of money once it was realized.
Choose if you want it to be a house as well or commercial property for shops. Depending on your goal, you can decide what to get when the right time comes along. Make sure to keep on earning your survival money from your job. I know, it will be tough to resist the temptation to quit now if you already own a house and now a rental property.
But you are just getting started. You need to have a better credit score for the next properties you are going to buy in the future. Just keep on holding to your job as long as possible in order for you not to end up selling what you own and end up being broke all over again.
4. Business and Investments
It can be more of your hobby for now. The investment will not have any good value until a certain time elapsed. So you also have to make sure to try to invest from the sides while you are saving for your down payment for other properties to buy.
This is also the reason why you cannot buy your rich house yet. You still have stocks to buy. So that once you think that you have enough properties to make you a lot of money in the future, you can then retire from being an employee.
It is the best time as well to start your own business. Since you already have a lot of back up funds in case the business will not work. You can venture to other businesses or investments. It is all up to you! You are the BOSS now.
5. Repeat and keep ongoing
Do not settle with just one each. You have to apply the power of compounding into your life in order for you to even be richer as you can possibly think off. They say that it can take around 7 years to build wealth. So use those times to get as much as you can. The more properties that you have, the more income you can get.
Once this 7 years elapsed, then it is time to buy your RICH house because you have already earned the right to live in one. You may also want to treat yourself in a brand new car and other toys that you have been dreaming of having from those seven years of sacrifice.
You might end up not liking extravagant things any more by this time since you have achieved wealth and you know how hard it is to accumulate all that you have already. But it is all up to you now. Since you are really rich at this time, you can literally have anything you like without worrying about how you will eat next time.
Being rich may sound complicated or even impossible for some. But it is actually as simple as following these steps. I personally follow this but it may vary depending on the person. But the point is, if you want to get rich, you have to have a plan.
Write it down so that you can have a clear idea of what you have to do next. Keep on checking back when you think you are getting swayed because of other people or because of life itself. Stay in track since it is your road map to achieve your dreams.
Sure, other people might just laugh at you. They may say it is impossible. Especially if you are having a hard time right now. But go ahead, let them laugh right now. Once you are getting all this money from your many sources in the future, it is your turn to laugh at them. You have proven them all wrong and they can no longer laugh at you because you are already indeed the rich person you want to be!