Lifestyle

How to get rich fast and stay rich

Whoever told you it’s easy to get rich is spewing lies in your face! Truth be told, using the word DIFFICULT to describe how to create wealth is an understatement; it is supper difficult but there is always a way, when there is a will.

There is a popular rhetoric stating that if one continues to save, their accounts will swell and they will become rich overnight. How true is that? Sorry pal, savings are good for unforeseen events in a person’s life, but definitely not the get rich fast method.

Well paid job: This happens out of sheer luck as you could be very knowledgeable, skilled and hardworking but may be living on a lean budget. Until you are able to secure a job that pays super well, your income is enough to settle bills, your needs and savings for contingencies.
An opportunity in a big organisation affords you excesses that could be saved over a short period to start a small business. By extension, a good job affords one the opportunity to access bigger loans which could be injected in business to expand operations to make some profits.

Be Stingy: Now, if you are lucky to get a well-paid job and decide to toe the line of ‘Santa Claus’ from January to December, you might end up poorer than your beneficiaries at the end of your life. And they’ll help you understand just how stupid you’ve been by not securing your future while you had the chance. Note you should be generous though but there should be a limit.

Luck in lottery: This doesn’t happen a lot, but once it happens, you are sure of the capital you have searched for your entire life to put into your business idea. Since this is rare, it’s wise to immediately research into the most viable business and use part of the cash to test the business. If it proves to be promising, invest another portion of the big to start reaping benefits.

Treat inherited fortune as business: Inherited businesses only survive when ownership engages experienced persons who are not relatives. Such employees feel that they must account for everything but family members may get complacent as no one will hold them accountable for running down business.

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