In this article, you will find a very detailed and in-depth guide that will ensure you get rich at a very young age. You will just have to read books, analyze your life thoroughly, and become as honest with yourself as possible.
Steps
Step 1. If you don't have a job with a future or haven't found your dream career yet… get them
If you have no income, try to earn one, and save at least 25% of your salary.
Step 2. Calculate the value of your human capital
If you are under 40, you will still be worth 30 times your salary. Example: 40,000 euros of annual salary = 1,200,000 of human capital value. Avoid overpriced permanent insurance and instead invest in term insurance that you can afford and that matches your human capital value. If you don't have life insurance yet, even if you're under 30, buy whatever you can pay for. If it costs 100 euros a month or less, do it! In the event of death, the bonus money will serve to protect your loved ones, so that they do not have to lose their family property or business and can afford all the necessary expenses.
Step 3. If you are not saving at least 25% of your GROSS salary, start saving today
Calculate your salary and expenses well and find out where you can make cuts, sell something and lower the volume of your purchases. If you earn at least € 50,000 a year, you should be able to save € 12,500. If you are spending a lot of money to keep a car, sell it, get rid of it as fast as possible. Maintaining a car is one of the most expensive expenses after illness, death of a loved one, divorce and marriage.
Step 4. Take a quarter of your salary each year and put it in a savings account
This account is separate from the money you use for your life insurance. Set up an automatic deposit from your expense account to your savings account - once or twice a month. If you can't figure out how to make a living while saving, then you don't really want to get rich.
Step 5. There are three books that anyone looking to invest should read
Read "Become your own Banker", "Rich Dad, Poor Dad" and "LEAP", in exactly that order. If you don't feel like reading and learning, then you don't have enough motivation to get rich. These books are essential for understanding how to become rich, healthy and able to control your own destiny.
Step 6. Decide where you want to focus your energies
Real estate to rent, for example, is a safe investment, but it takes a long time to pay off. Your earnings are paid by the renters and the money goes straight to your account, along with your life insurance policy (if you haven't read the books we just talked about, then you will be lacking essential information!) Wherever you decide to focus your energies, try to be cautious and learn through books, networking groups, forums and people with more experience. Learn from other people's mistakes before making them yourself. The key to getting rich is to understand that your wealth doesn't have to stand still. Using life insurance money as a "bank" to filter earnings is what the big corporations and the richest people in the world do, passing it on to their children and heirs at the same time.
Step 7. Be honest with yourself and most importantly with your money
Advice
- Sell what you can, whether it's to make a euro or even a hundred if you're smart enough.
- Don't try any "methods" to get rich too fast.
- The seeds of money must "germinate and grow" for you through economic reversals that you will never have to stop "irrigating" (keeping active and profitable).
Warnings
- Do not waste your earnings on your desires and vices.
- Don't forget to plant your "money seeds", otherwise you won't have any "harvest" …
- You will have no income if you use and consume your "nest eggs" (savings) or your "seeds" (investments). Cultivate your field … enrich the soil or it will remain uncultivated!
