1. They are born rich
2. They are misers/hoarders
3. They are investors
4. They are wealth creators
They are probably only 4 ways to become rich.
The first is if you are born rich. Few people fall in this category. This is not in our hands. If you are born rich you just need to make sure that the wealth is maintained even if you don't grow it. Probably less than 1% people fall in this category.
You must have heard of several beggars becoming rich. They follow a simple principle of saving most of what they earn. They are misers & hoarders. They probably save over 80% of what they earn. In 10 yrs they will have enough money for the next 80 years
This is probably the easiest way to become rich.
Investors can become rich because they invest all what they save. They probably save 50% of what they earn. But that money grows faster, the best part is that it keeps growing forever. If you invest money in the wrong places you may lose your money.
Wealth creators or shall we call them entrepreneurs create wealth out of nothing. This is probably the toughest way & is full of failures Sky is the limit here. It may take a few years of failures to get here.
As a kid I began by being a hoarder. It was simple & easy to do.
Slowly I learnt & became an investor. It required some time but once you learnt it was easy.
Now I am an entrepreneur or wealth creator.
This is the most exciting of them all.
What about you?
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