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Sunday, 28 February 2010

How to One Day Be Rich

Ever driven a sports car? Well, if you have, then you'll know that money can buy happiness. Today in this modern world, it's everyone's dream to become rich, but it won't happen instantly. So the best thing to do would be to start thinking about how you're going to get rich now.


1. Start saving! If you save $5 a week then in a year you will have $260 saved up, which you can use later to help you become more wealthy.

2. Get a good education! Would Bill Gates of invented Microsoft if he didn't have a good education? Well, the short answer is no. Getting a good high school and college education is one of the most important things you'll need to one day become rich.

3. Learn about investing! If you start learning about investments when your 11 or 12, then by the time you're 18 you'll know how everything works, And you can then start investing

4. Invest! Once you have learned how to invest, you'll be good to go. Start investing little amounts of money as young as possible. For example, invest $100 in KFC when you are 18, and by the time you are 28, that $100 might be worth $1000!


- Ask for help from people who know about investing or have invested before. But don't believe everything that someone who will make money off you tells you, they will probably just be bluffing.

- You can get cheap investments in things when the markets are down, because people will want to sell their shares in case they lose all of their money, when most likely, the market will get even better than it was before in a couple of months.

- Don't forget the people who helped you become rich, as you may one day need them. Buy gifts for these people and stay in contact with them.

- Don't let boyfriends/girlfriends get in the way of you becoming rich. If you need to sit by yourself every recess and lunch for your high school life studying, then so be it. Just remember that high school's only for 5 or 6 years, and being rich is for a lifetime. Mutual funds are safer and cost as much as some stocks. A mutual fund is share in a lot of companies.


- Don't invest alot of money in things you don't know much about, as you are likely to loose your money.

- Don't invest too much money in one thing, spread your stocks out between different industries, so even if you loose all your invested stocks in one market, you'll still be making money from all of your other markets.

Source: wikihow.com

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