Yahoo Finance 10 simple steps to getting rich
After writing a book with a title like Join the Rich Club, you won’t be surprised to hear that I’m getting a lot of questions from people and media outlets asking me the most obvious question: “Well, how do I get rich?”
The smarty-pants answer is: “Read my book!”
And while it’s a damn good idea, I guess I need to psyche people up first to read a book to get rich.
I remember Jon Stewart from US TV show The Daily Show interviewed a former US politician who’d written a book with a title like Solving America’s Problems by Changing Americans.
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Stewart, the master of picking irony, actually said something like this to his guest: “So you know Americans so well that you can help them but you then thought it was a good idea to put this in a book?”
The implication is that not enough Americans that the good pollie wanted to help would be book readers!
Don’t worry, a video of my book will be a 2020 project but let’s see if I can encourage you to read by dangling the possibility that spending time reading a book like mine or others like it might be financially rewarding, and that should be the incentive.
If I had to sum up how you get rich in a few tips rather than a whole book, here’s what I’d suggest:
Do a budget showing what you earn and what you spend.
Try and cut your spending by 10 per cent.
Sell anything around the house that you don’t need.
Do a second job or start a part-time business.
Learn how to invest in the stock market.
Learn how to legally reduce your tax
Learn how to buy property using the tax advantages that can be accessed.
Take all the money you find from doing the above and invest it in stocks or property.
Promise yourself that you will learn about investing because you do want to get rich.
Write down that you have a goal to get richer by becoming money smarter — and I bet you will get richer.
You don’t get rich in a day - it takes effort daily.
And it involves you transforming from a normal person with few clues about building wealth to becoming someone who’s money-smart and who builds riches on a consistent basis.
As I always tell anyone who’ll listen: “If anything is worth doing, it’s worth doing for money!”
The bottom line is that you really have to want it and if you do, the riches will come.
By Peter Switzer.
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