SALARIES / AUG. 01, 2013
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How to Get Rich Quick

If your career isn’t going anywhere, and you can’t see yourself making much money with the job you have, then it is time to put a new plan into action. Because whether we want to admit it or not, the world revolves around money – the more you have, the better your lifestyle will be!

So how come the rich are always the minority? Well, this is because most people have no idea how to go about getting rich quick. And even those who do – are not prepared and so lose their fortune before they can even enjoy it!

So, if in doubt of how to get rich quick, here are some pointers to get your started!

Save up

Ok, so this might seem like an obvious point to make, but you would be amazed at the number of people who complain they have no money yet spend every penny of their salary each month! You need to set yourself some boundaries here: after all bills are paid, put away 30% of your remaining salary into a savings account with a high interest rate. Each month this balance will increase, giving you a foundation to then get rich.

Invest

Using the money you have saved each month, invest it into stocks, bonds or any market that is low risk. If this goes well, you will steadily increase your bank balance, but take note – you won’t see a dramatic difference for a long time. In order to make a substantial amount of money, you have to take a risk; invest in a high risk hedge fund – this will give you a greater chance of pulling in a fortune!

Real Estate

With the money you win from the stock market, you should invest a certain percentage of it again. Why? Well, stocks and hedge funds may be making you rich now, but their risks are not always worth taking. Instead, you should invest in something more solid as a back-up, such as property. The simple rule here is to buy low and sell high (although this might take anything between 5-10 years so think of it as a long term investment).

Education

If you don’t have a job that enables you to save 30% of your salary each month, then your problem isn’t with saving and investing wisely, it’s with the job! In order to land yourself a well paid job, you need to start from the bottom – and no, I don’t mean in the mail room or making tea for the executives, I mean education! Without a solid educational background, you will struggle to land top jobs (especially with the level of competition out there these days).

Whether you want to do it or not, getting a degree is the best way to expedite your way to the top! And what’s more, you don’t need to study a subject that’s difficult (it’s the degree, not the subject that counts most of the time!)

Antiques

Landing a top job and earning a respected degree will only get you so far. I mean, if you decide to become a banker - your bonuses will probably make you a millionaire within 2 years. However, if banking is not your thing, you may find that it will take several years to save up a cool million dollars. Instead of waiting around, you can invest in antiques. In fact, if you make the world of antiques a hobby of yours, you can very quickly learn a great deal about the market and therefore be in a better position to buy valuable pieces.

We have all heard the stories of people buying seemingly worthless vases and paintings at car-boot sales which have later turned out to be worth millions of dollars – well this could happen to you too! Antiques are often a sure way to double up on your money (provided you know what you are looking for and how to haggle!)

Whether you opt for stocks and shares, or antiques, you can quite easily amass a fortune in a short space of time, if you are prepared, have researched and are willing to take the risk. 

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