How To Get Rich In 5 Easy Steps


above image: cashaeon.com




Here's How To Get Rich in five easy steps.  

The only special skills you need are basic common sense, a good idea, and a healthy dose of hard work.  




How To Get Rich

Step 1:  


Get a job.  They say you have to spend money to make money. "They" are right. For example, if you want to start your own laundry business, you'll need a washer, a dryer, and running water.  

A lawn mowing business probably requires a lawnmower. And so on.  

For now, get any job that allows you to save at least $25 a week, and more if possible. That's the easy part.  

Now, here's the harder part: Stick that extra money in the bank and pretend you don't have it.  

Also pick up a few side gigs in addition to your regular, bill-paying job. Don't have time? Find time! This is the first part of how to get rich. 


Step 2:

Save Your Money.  You'll need it for starting your business, no matter what business you start.    

It's a good idea to open a separate savings account for this purpose.

The money you will spend to start your business is called startup costs.  The money you are saving to invest is called investment capital.  




Step 3: 

Get an idea.  Brainstorm a workable plan for your hard-earned investment capital.  


Step 4:  

Invest in your idea.  There are way too many investment possibilities to cover here. Popular investment choices include high tech IT startups and real estate.  

Be sure to do thorough research before you invest.  


Step 5:

Capitalize on your investment.  Investors buy out at some point, when the value of the investment goes up.  

Here's an example of Investment Capitalization:  If you buy a house, you can sell it later at a higher price, when the market value goes up.  

If you live in a house you bought for any two of the first five years, you don't have to pay capital gains tax when you sell the house.

You can also rent the house to tenants.   


**********


No matter which business idea you choose, consistency, creativity, a dash of investment capital, and a strong work ethic are the main ingredients to success. 




How To Get Rich - A Case Study


Warren Buffet, the billionaire also known as the Oracle of Omaha, earned his first investment capital back in the 40s, when he was only 12 years old.  His job was delivering newspapers. He eventually saved $25.  


One day, Warren Buffet found a broken pinball machine.


Then he got a bright idea.


He asked a mechanically inclined friend from school if he could fix the machine for ten dollars. The friend said he could.  

Warren then offered the owner $15 for the broken pinball machine, which the owner gratefully accepted.  

Once the machine was fixed, Warren hauled it over to the local laundromat, and offered the laundromat owner 10 percent of his earnings from the machine.

After that, Warren's only job was to show up once a day with a bag, and scoop all the coins from the pinball machine into the bag.

Then he put the money in a bank and (most importantly!) saved most of the money he made. 

That's how Warren Buffet turned a $25 investment into a $25-a-day business. And this was way back in the 1940s.


Ten years later, on his college graduation at the age of 22, Warren Buffet repaid his parents IN FULL for his college education, and bought himself a modest but beautiful 3-bedroom house in Omaha.  


That's How To Get Rich.

All it takes is a bright idea, a good deal of patience, and a healthy dose of hard work. 





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