How To Get Rich

Google How to Get Rich and you will come up with over 54 million hits. Just browsing some of those hits I found one site that said I could “earn $300 in 7 minutes”, and another that promised a guaranteed $100,000 per month!

I wonder how many of the people selling these products are actually rich themselves? How many people do you need to sucker into buying your product before you yourself are actually rich?

I did some research and I found the top 3 ways people get rich. And by rich I mean have a net worth in excess of $1,000,000. Can you guess how they did it? I’ll give you a clue, not by spending money on a system that will help you “get rich FAST!”

I suppose I could write an ebook and offer to sell you my “system” for the low price of just $49.95, but only if you BUY RIGHT NOW! Because the price could go up at any minute. Or I could just tell you. So here it is, the top three ways people get rich.

#3. Get An Inheritance

Hope you chose the right family. Otherwise you are out of luck with this method. This is the easiest of the top 3 ways to get rich. Just inherit your riches. Of course, you have to spend your whole life watching what you do so that you don’t piss somebody off and get yourself written out of the will. Of course, if you weren’t born into a rich family you could try and marry into one. Just as long as you don’t mind being called a gold digger.

#2. Start Your Own Business

But make sure it is boring and very unglamorous. Plumbers do amazingly well.

#1. Real Estate

We are not talking house flipping here. Commercial real estate investors were the big earners here. Buy a commercial building, rent it out. Keep it for years.

There you go! Note that lottery winners and internet marketers did not make the list. (Neither did bloggers )

Choosing a Computer

When I think about all the different ways that I make money, one thing is clear. No matter what I am doing, I am using a computer. I buy and sell stock with my computer. I write for my blogs on my computer, I do my accounting work on my computer. I run almost every aspect of my business from my computer. So when it comes time to choosing a new computer it is not a decision that I take lightly.

With every new computer purchase there are decisions to be made, laptop, desktop, or maybe even a netbook computer? Mac or PC?

Should I look at Linux?

So far I have resolved these issues by having one of each. I use my desktop for every day work in my office. My laptop computer is my constant companion on my travels. I can get a lot of work done while waiting for an airplane. (Future blog post, airports with free Wi-Fi!) And when I just need to get out of the office for awhile I take my little netbook to the coffee shop where I can watch the people while I write.

So what does all this have to do with getting rich? Getting rich is not just about making lots of money. It is about spending your money wisely and having the right tools. My computers are my main tools for making money. When it comes time to buy a new computer, it is important for me to buy the right machine at the right price.

Right now I am seeing some good deals on laptop computers. One of the good things about a recession, is if you need to buy something, you are going to get a bargain. When I buy my next laptop, I don’t want just a cheap price, I want a great laptop at a fabulous price.

This is where I depend on sites like Shopwiki. It is a wiki site for shopping. Today I started with their Laptop Computer Buying Guide. It gave me a great starting point for choosing my next laptop computer. I particularly liked their “top picks”.

Bottom line, rich geeks are not just into making money, they are also into smart shopping.

How to Build Wealth Fast in a Slow Economy

By Shayne Hall

I don’t know about you, but I’m sick of hearing about doom, gloom, and the end of the world as we know it. I have all but stopped watching the news, and I refuse to get pulled into any negative conversations about where the economy is headed. The other side of the truth we seldom hear about, is that there are people who are getting rich in the current economy and others who are positioning themselves to prosper in a huge way when the overall economy swings back into a growth cycle. Let’s discuss a couple of ways to do that and have something to get excited about.

Although rarely discussed in the media, there are good investments in this contracting economy. There are always going to be places to invest and make a solid return on your investment in any cycle of the economy. There is no doubt that there are people in trouble right now. We have, of course, all heard plenty in the news about layoffs and un-employment numbers, bailouts, foreclosures, and record losses in the stock market. So where are the good investments, you ask? Here’s a hint: think things people need or perceive that they need. You only need to look at the recent sales figures for cosmetics and alcoholic beverages to see that some businesses thrive in difficult times. Also, consider investing in companies that help you save money on food, transportation, energy, or entertainment in some way because people are looking for ways make a dollar go farther buying things they have to have, or perceive that they need.

But before you go putting all your money into the above investments, I want to make the point that, while you may profit by investing in those areas today, it would have been better had you invested there 12 to 24 months ago. That way, you could have taken advantage of selling your other investments at a high point, taking profits on those sales, and re-investing into these other recession-proof businesses.

So where does that leave you? Well, what “good buys” can you find right now (investments that are undervalued and on the market at deep discounts)? Think about foreclosures, mid-price rental properties, section 8 rental properties, and stocks that have taken a hit of 50% or more, but were once leaders in their sector. These are the type of investments you should be seriously considering, because these bargain-priced investments have great upside potential.

In my next article, I’m going to examine another method of building wealth in this troubled economy. One path that may be the solution for those people that have little money to invest…a home-based business.

Shayne Hall is an entrepreneur, sales, marketing, and financial services professional living in Lafayette, Louisiana. You can read about him at http://www.shaynehall.com

Shayne is also a Branch Manager with United First Financial, empowering people to take full control of their financial life and win the money game. Learn more at http://www.gpstozerodebt.com

Article Source: Shayne Hall
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