How to get rich easily (part 2)
Here are some few tips that can help you on your journey to wealth.
1. Stop procrastinating.
It is foolish to think you can do things at your own convenient time and this is common among the younger generation.
Most young people often believe that retirement, or wealth building, is something that comes later in life and is less concerned and occupying themselves with the problems of now.
Most people carry out this mentality until they become ten years older than their present age.
You should also know that the more you delay in kick-starting a business an Idea or learning a skill, the harder it becomes to ever start.
You keep giving excuse till you eventually have no more time on your hands.
2. Personal Development.
Personal development is the most paying investment in the information age.
You are the best resource you have to accumulate wealth. Investing in yourself means spending more time on your education, refining your own skill sets.
The more educated, skilled, experienced and connected you are, the more valuable opportunities you’re going to get.
And skills needed to strive are not often though in traditional schools.
Look back ten years ago, the kind of jobs we have now was not what we used to have back then.
Jobs like Graphics designing, web development, social media management were not there.
All we had where native jobs that required school degrees.
The whole state of things has taken a new different look.
Machines have taken over and we can see this insecurity, finance and the media.
A few years back we had more U.S Troops in Iran but with the invention of drones, the U.S needs only very few troops to take care of the dirty job.
3. There is no shortcut or magic anywhere.
Just because I used the word “secrets” in the title of this article might have brought you here hoping for a more tricky way of gathering wealth without actually properly planning.
And I’ll tell you something, It is possible to get wealthy by luck, lottery or even an inheritance without actually working.
But the end justifies the means. I don’t know if you actually understand that, let me buttress further, how many lottery winners have you seen took their wealth to the next level since you ever heard of one.
Most of them often go back to their previous lives. This is simply because of the simple fact that the wisdom needed to gather is quite different from the wisdom needed to sustain such wealth.
I recommend you read books and follow authors on investing they can actually guide you right and one very reputable finance author I recommend is Robert Kiyosaki, Donald Trump.
4. Pay down your debt.
When so many debts are acquired over a period of time it becomes difficult to actually build wealth.
According to financial experts, we have two kinds of debt which are Good debts and Bad debts. The bad debts are when you use the money to fund your very stupI*d and luxurious lifestyle such as buying cards, building a comfortable house for yourself oh!! owning a home is a bad debt when you don’t intend to use for money purposes such as rent or lease. It becomes a liability that always takes money from you because you have to fix it when it breaks down, pay utility bills and this can cause your finance to further decline.
On the other hand, good debt is a debt used to build a business.
This can involve taking a soft loan to start your business, borrowing from your friends to improve your existing business.
As far as the sole purpose of each money you have or acquired is for the sole purpose of building a business which makes little or plenty cash then it is good debt.
5. Take risks.
You’re young. You have a lot of years ahead of you. Now is the time to take risks.
Consider quitting your job to start your own business.
Jump on new ventures and new opportunities. If you ever fail, you’ll have plenty of time to make up for it.
The majority of the population sticks with the safe route such as getting a degree and seeking a high paying job.
That may actually work for a time but always remember that you will be retired very soon and you will have to seek other means of income.
At this point of your life, you will wish you have started earlier than now because building a business will be more rigorous than ever, because you don’t have the strength, agility and moreover the very good health needed to sustain your business.You might eventually die in the process.
I counsel young people reading this, start now.
6. Diversify as many times as possible.
A popular proverb in Africa states that You do not keep all your eggs in only one basket.
Even though risk-taking is a generally rewarding strategy in your 20s and 30s, it’s also a good idea to diversify your efforts.
Don’t build up just one skill set, or one set of professional connections. Don’t rely on one type of investment, and don’t gamble all your savings on one venture.
Instead, try to set up multiple income streams, generate several backup plans for your goals and businesses, and hedge your bets by looking for new opportunities everywhere.
This will protect you from catastrophic losses, and increase your chances of striking it big in one of your ventures.
7. Forget Principles and Find A mentor.
I decided to make this a very last statement before concluding and I think that not too many people understand this.
There are over a billion principles recommended by an expert from various fields to become a billionaire.
But the problem with principles is that they can be applied at the wrong time and this might eventually lead to believing that success is not a real thing.
I have experienced this and so as so many people reading this article.
The best way to get there fast is to find a mentor and I mean someone who has walked your path before and is now successful, such a person is in a better position to help you out with obstacles you might encounter.
And also there are certain things you must not do to your mentors such as begging for money and other silly things.
You should buy them gifts in order to appease them, they will not let go easily but you have to be consistent and prove yourself to be worthy.
Awaken your mind now by applying these seven secrets in full detail, it might take a while but I must tell you, You just have to trust the process.
It might take a while but it will not tarry. There are so many real-life lessons to learn from building a business than working at a job all your life.
You pretty learned nothing except things related in your field that may not even make money.