There Are Only 7 Ways to Get Rich

Many people who stumble upon my blog think they can join a stock room chat service and get rich. I only recommend one chatroom but all stock market gurus make it look easy. Honestly, it’s so difficult I almost wonder why people even try. In fact, 90% of traders fail and half of those who succeed are only surviving in the market. And they are far from rich from day trading. So, whether you like it or not or believe it or not there are only 7 ways to get rich. Let me say that again so it sinks in. There are only 7 ways to get rich. PERIOD! Yes, there might be countless ways to get rich in some of the categories of the 7 ways to get rich but if you don’t recognize that if you weren’t born rich (not included in 1 of the 7 ways to get rich) it won’t be easy to become rich.

Ways to Get Rich #1 – Marry into Money

Marrying into money is one way to get rich but you better have something worth marrying. A recent survey by the Connecticut firm, Prince & Associates, showed that out of 1,134 participants, 66% of the people polled nationwide would marry an average-looking person if they had approximately $1.5 million.  While it is much easier for a woman to marry into money (and more common than a man) it isn’t unheard of for a man to marry for money. So, if getting rich is your thing and you don’t see yourself falling into 1 of the other 6 ways to get rich below than do what some people do: marry into money.

Ways to Get Rich #2 – Inherit Money

Forbes says that 30 percent of the Forbes 400 members inherited their wealth and the remaining 70 percent are entirely “self-made.” You can’t plan to inherit your money but if you are fortunate to have an affluent family then chances are you will inherit money and inevitably become rich some point in your life. When? God only knows. Truth be told, my father predeceased my grandfather so if my dad ever had visions of inheriting my grandfather’s money he didn’t succeed.

Ways to Get Rich #3 – Harness Your Talent

Believe it or not I was a pretty famous salsa dancer at one point in my life. I made some pretty good money too. In fact, I made over $100,000.00 in 1 year shaking my hips, body rolling and spinning every which way my body could spin. $100k isn’t get rich money but if you have a talent and you start young enough you can harness your talent and hopefully become rich in the process.

Ways to Get Rich #4 – Steel or Scam People

In no way, shape or form am I suggesting you go out and steel or scam people to become rich but plenty of people do it. In fact, there are 100s (and maybe even thousands) of stock market chat rooms who are scamming their subscribers right this minute making more money than you and I will ever have. Obviously you know stock market scams aren’t the only scams that make people rich. According to Scam Watch there were 155,035 scams reported in 2016 which totaled $83,563,599.00 in losses. Imagine how many scam artists actually get away with it.

Ways to Get Rich #5 – Get Lucky

I haven’t won the lotto yet but I keep trying. However, it’s not that easy to become rich due to luck. According to Wonderopolis, “in a lottery in which you pick 6 numbers from a possible pool of 49 numbers, your chances of winning the jackpot (correctly choosing all 6 numbers drawn) are 1 in 13,983,816.” That is almost 1 in 14 million. Put another way, If you were to buy one lottery ticket weekly in the above circumstance, you should expect to hit the big jackpot in about 269,000 years.

Ways to Get Rich #6 – Own a Successful Business

Actually I have a successful business but it’s not making me RICH yet. I make a good living but again I am not RICH to the point that I don’t have to clip a coupon or look for a bargain from time to time. Luckily though, I do love what I do and that means more to me than money. Trading, photography and blogging give me the flexibility to make money along with the freedom to raise my kids. However, if you want to become RICH and you have a business idea, get to it asap and hopefully the riches will come.

Ways to Get Rich #7 – Spend Less Than You Make & Invest the Rest

Out of all the 7 ways to get rich, spending less than you make and investing the rest is the only way you have a surefire chance at the riches. Nothing is a guaranteed but if you are young enough and you are lucky enough to have the ability to utilize that formula you will see the riches build over time. If you don’t believe me check out my new millionaire journey I started back in January. So far I am successfully spending less than I make and investing the rest. The numbers aren’t in the millions yet but come back from time to time and see how it’s going. More than likely the number will grow.

Final Thoughts

You must take risks in order to become rich unless luck, inheritance or marriage gets you to the riches first. If you don’t take risks you won’t get rich. Period! However, day trading is not a way to get rich for most of you who are reading this. Truth be told, it’s the biggest and fastest way you will become poor. I am not trying to discourage you if day trading is something you want to try. You can make money day trading in the stock market if you follow a very specific path to do so. However, in the 3 years I have been active in the day trading end of the stock market I am the only 1 left from those who I knew when I started. Why? Well, I think it is because I am NOT just a trader. I trade stocks, I do corporate photography and I blog. All 3 bring in an income which allows me various financial ways to grow my wealth so I can spend less than I make and invest the rest.

Disclosure:

Some of the links in this post are from my sponsors. I thought you should know because honesty is better then sugarcoated bullsh*t.

Important Resources

  • Read my frequently asked questions or if you need personal 1 on 1 guidance from me on how to fully prepare as well as protect yourself from the misrepresentation please click here.
  • Every month I update this post here for my personal "Millionaire Challenge". I suggest you read the entire post and when you reach the bottom you can see my updated progress.
  • I highly recommend the Simple Path to Wealth book to grow Your wealth simply and steadily. It will educate you beyond your financial imagination. This is my review of the book.
  • If you are new to stock trading test your knowledge here with a basic stock market quiz.
  • There are a lot of secrets in trading stocks and I reveal 20 of them in this popular post.
  • If you are confused about short selling stocks then read this simple explanation that will clear it all up.
  • This free stock research tool will give you all the necessary information on any stock you type into the search bar.
  • Do your best to avoid day trading distractions. Especially the 10 I list here.
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