How to get rich slowly

Author: Sara Rhodes
Date Of Creation: 18 February 2021
Update Date: 1 July 2024
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Content

Getting rich is a long-term project. And it's not about days. And it's not about months. By the term of achievement we mean years. For many years and even decades. We are not suggesting you get rich quick schemes. We will show you the path that will lead you to wealth.

Steps

  1. 1 Save money. Save as much money as you can. Every ruble that can be postponed. Drink water instead of coffee. Make yourself a sandwich instead of McDonald's. Cut your credit card.
    • The first step on the road to wealth takes discipline. If you really want to be rich, you need discipline, can't you? If you succeed, you will soon find that cutting your own expenses will bring you the most profit. Not everyone succeeds, and sometimes it is worth giving up these attempts, especially if you have a family. This is the reality. But if you succeed - save, save. As many as you can. Then, put that money into a six-month deposit at the bank.
    • At this stage, your main goal is to get cash. You are not saving up for retirement. You save up for the moment you need cash. Buying and storing is the lot of losers. This market provides a great example. Every time cash creates incredible opportunities, those who live by the buy-and-hold principle have no cash. They cannot or will not sell anything in this market, which is why such a strategy is fundamentally flawed. Those who invest in deposits sleep soundly at night, and in the morning they wake up a little richer than they fell asleep yesterday. And because they are smart and disciplined shoppers, their personal inflation rate is always within their means. Cash is the king of those who want to get rich.
  2. 2 Get smarter. Invest time in becoming more knowledgeable about what you truly love. It doesn't matter what the case is.
    • Whatever your hobby, interest or passion, pick your favorite and GET A JOB in the industry that serves it. You can get a job as an office worker, sales manager, etc. You need a source from which you will draw information about the business. Instead of paying tuition fees, you will learn and earn. This may not be a perfect job, but you must understand that there are no perfect paths to wealth.
    • Before work, after work, on weekends - every day you should read about the case that interests you. Go to trade shows, read trade magazines, and take the time to talk to the people you do business with and those from whom they buy.
  3. 3 Wait for the times of uncertainty and change in your business. These times will come. This can happen quickly, or it can take years. But that day will come. The nature of business in our country is such that in any business there are moments of collapse and unprecedented recovery. When they are on the rise, smart people start selling. When the collapse comes, the future rich take their first steps towards success. You will know when the moment is right because you will be inside this business. You will be ready for this, because you will save and have good savings by the time you need it.

Tips

  • Despite the changes and instability of the financial markets, there are people right now who are making more money from them than anyone could have dreamed of. Among them are those who have worked in the real estate or financial markets, and they understand what is really going on. These people understand the complexities of the credit market. When everyone succumbs to the ideas of the crowd, they continue to accumulate, avoiding the ease and fallacy of groupthink. Ups and downs happen in any market. The question is, are you disciplined enough to be ready when this happens to you?

Read books on finance and finance (of all kinds). I recommend anything from Dave Ramsey. His books are easy to understand and enjoyable to read, even if you are not a reader. You can also search for books from Russian businessmen.


Warnings

  • There are no shortcuts. NO ONE. With all the madness of the stock and financial market, here and there, scammers will pester you. The less money you have, the more often they will come to you with some kind of schemes. These schemes will guarantee a refund, will involve all types and levels of the market, or promise something completely insane, like “insured by the bank of the Russian Federation”. Ignore them. Always remember that if the deal is as good as he says it is, then it would not be shared with anyone. The second thing to remember is that if these people who propose schemes were so smart, they would already become extremely rich, and not scour the streets looking for someone to cash in on (and even if it wasn't you). There are no shortcuts.