For many of us winning the lotto would be the dream and the worries once held would soon wash away. Putting aside that dream,
let’s have a look at what some of the rich are doing in order to make those millions of dollars you hear about.
Real Estate Investing – This is the oldest trick in the book when it come to making money. Buying a property and selling it off has seen many reap the rewards through its quick price fluctuations but it doesn’t always work out for everyone. The knowledge of knowing when to buy and when to re sell is an art of its own, however there has been many stories of failed investments so choose the property wisely and do plenty of research before taking the first step.
Shares/Stocks – The Wolf of Wall Street may know about this scheme very well and would agree on this. Shares and Stocks has always been an interest to many people and even though the risks are less than real estate investing, it is a market in which you cannot take your eyes off. Unlike real estate the prices of shares and stocks are fluctuating daily and knowing when to buy and sell is tricky. Buying into an company or entity that is already established may see slow growth or even a loss but investing into a start up could potentially see an up rise in the prices of the shares and stocks and could land you that golden retirement ticket if you choose to sell them off. (Imagine the guy who bought FB shares when it was starting out)
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Start Your Own Business – Another good way to earn big bucks is to start out your own business from the ground up. Note not every business will be successful and it depends on how much time and money you invest in it to help it grow. Choosing what type of business to start may be daunting and the pressure of running it will also be challenging. but the rewards are great as you can write of certain things through the business account and claim it back on tax. (Remember to hire a good accountant). It is also proven that majority of business will incur a loss in its first year years of dealing but if you track you expenses and revenues properly then it will soon prosper onto new heights.
Invent Something – There are many things out there that humanity has not been exposed to so why not be the first to invent a product or service. Inventing a new thing may be difficult but it can be done you just have to find something that is much needed in the world and come up with a solution to fix the problem. You could also take something that has already been invented and make it better. Even the smallest of ideas eg, the paper clip, serves a purpose for the users of the item. So that genius plan you always talk about with your friends after a few tequila shots, may be the next big thing the world needs.
Excel In Your Job – Not everyone likes to do the things mentioned above but it doesn’t necessarily mean you cannot be rich. There are many out there who have managed to work their way up to the top through long hours and hard dedication in their line of work. If you are a hard working person and always giving it your 100% no matter what you do, then push that little 5% more at your workplace and you will start seeing some changes. Do that extra paperwork if you have free time or even go ask for MORE work when you’re not busy because guarantee, the people high up are noticing but want to see how dedicated you really are.