Takes money to make money: The Formula for getting rich (the one that works)

top of the mountainThe Formula for getting rich is NOT about compound interest, internet business, multi-level marketing, FOREX trading, stock options, real estate, mutual funds or starting a business. Getting rich through saving and “the magic of compound interest” would take ages. Internet business is not for everyone. MLM (multi-level marketing) is a scam. FOREX trading is more about chance than about skill. Real estate requires a huge up-fron investment. And starting a business has less than 5% success rate.

Yet there are rich people in all those fields. There are real estate millionaires and guys who made fortunes off FOREX. But you can’t wrap your head around how they made it, exactly. Did someone help them? Or was it just the plain old “hard work and a little luck?”

Well, the truth is, it doesn’t matter which path you choose. All that matters is how prepared you are when you set foot on your path of choice. So actually, it doesn’t really matter whether you choose real estate or business or FOREX trading. All that matters is how you’ve lined up your pawns.

Here’s what I mean.

Read moreTakes money to make money: The Formula for getting rich (the one that works)

1 principle – how to get rich even with no money

Have you ever sat in the kitchen, elbows on the table, palms on your cheeks, thinking about what’s your chance of getting rich? And if your definition or “rich” is living in luxury while never having to work again, what’s the chance of you achieving that through honest, hard work?

I wasn’t born rich. And being born rich is the most common reason for being rich.

And YOU weren’t born rich, either, otherwise you wouldn’t be reading a piece titled “how to get rich even with no money”. So you must be worried – are your dreams of being rich ever coming true? And even if you do stand a slight chance of making yourself rich, that must involve some pretty hard work… after all, we’re talking about you making millions. Is that even possible?

Read more1 principle – how to get rich even with no money

Want to be rich? Think money!

From my office window, I see a yellow apartment building in consturction.

A poor person would think, “I could never own one of those apartments…”

A middle-class person would think, “How much would it cost me to buy an apartment?”

A rich person would think, “How much money would this building bring?”

I work and meet with a lot of people. Until recently, I was only interested in the way rich people think, so I could learn from them and copy the things they are doing right. If I talked to a poor person, I deliberately tried NOT to listen when they talked about money because they were so negative.

Get rich by saving money? 5 mistakes to avoid

Are you saving like a moron? Because if you are, you are never getting rich. Here are the top 5 mistakes that might stand in your way of getting rich by saving.

Saving mistake #1 (read carefully)

Getting rich by saving
Getting rich by saving

If you had ten buckets to fill with water, using only a cup, how would you do it? Fill the cup, then pour a little in each bucket from 1 to 10? Or pour the whole cup in bucket #1 again and again till it’s full, and then move on to #2?

(Well duh. Of course you’d work on a single bucket.)

Read moreGet rich by saving money? 5 mistakes to avoid