Get Rich, Make Money
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Getting Rich Isn't Complicated

Posted on Apr 05 2008

5 million dollarsI was looking around the internet today, trying to find ideas for blog posts, and I was struck my the number of sites telling me how to make money and get rich. It all seemed so complicated. I could invest money in the stock market or the currency markets, I could flip houses or websites, I could even click my way to riches. Some sites would only reveal their secrets if I bought an ebook or a membership to their site. Then there were those that claimed I could get rich by writing an e book, or starting a membership site.

The answer to how to get rich isn’t complicated at all. In fact, it is pretty boring. There are just a few simple steps, and I’ll share them with you right now, for free!

1. Spend less than you earn. Or earn more than you spend. It is common knowledge that people’s spending increases as their income increases. Making more money isn’t going to help you. Unless you have a plan to spend less than you earn you will spend everything you earn, and probably more.

2. Stay away from debt. If you are in debt, get out! I never said it was easy to get rich, I just said it was simple. The simplest way to get out of debt? Quit getting more debt. Pay at least the minimum payment on all your debts. Eventually you will be out of debt. (I didn’t say it was fast, just simple.)

3. Save and Invest Money. Now that you are spending less than you earn you will have money to save. Start with a high interest savings account. When you have a few thousand there, start looking at investing in index funds.

4. Max out your 401(k)plan at work. Don’t tell me you can’t afford it. Find a way to make it work. If your employer has matching you are a fool if you are not putting the max in your account.

There you go. 4 simple steps to getting rich. And once again, I didn’t say it was easy, I said it was simple.

1 Comment

  1. Marty says:

    Great tips. I especially like 2 & 4. Both involve receiving free money which is always good. The matching contribution feature of most 401k’s is self explanatory but many people who carry large amounts of debt don’t realize that by paying it off as quickly as possible is like earning 15, 20, 25 percent or more on your money. This is dependent on the interest rate you are being charged. That’s a pretty powerful incentive.

    Marty’s last blog post..What If Tomorrow Never Comes