Of course, getting rich is neither quick nor easy – unless you create an amazing business. What can we do to make money stick to us? How to become rich?
Choose partners carefully
No, it’s not about getting married for money and owning half the property of your wife or husband. The point is that the partner should be supportive and have similar goals to ours. Wallet capacity increases much faster if two people work instead of one. Such a spouse is simply a multiplier of wealth!
Scientists from the American Psychological Association have calculated that in Western culture as much as 90% of people will get married before the age of 50, but 40-50% of these weddings will end in divorce.
Meanwhile, divorce is a huge blow not only to the relationship between two people, but to their wallets. Jay Zagorsky, a researcher at Ohio State University, calculated that even with the 50/50 distribution of assets, each party loses 75% of its resources. Why? It is a simple scale effect, two people (assuming that the couple had no children) incur lower living costs when they live in one house, use shared resources (e.g. car), etc. A compatible marriage makes it easier for the spouses to get rich. On the contrary, divorce.
You make a mistake if you don’t invest
In the long run, investing is the most effective way to multiply money – and the sooner you start, the better for you.
Ramit Sethi, author of the bestseller “I Will Teach You To Be Rich”, indicates in the book that millionaires invest about 20 percent. household income per year. – Their wealth is not counted by how much they earn annually, but how much they put off and invest in the long run – he writes.
You don’t have to be a finance expert to invest safely or save large amounts of money. It is important to start and do it regularly.
Plan for your money
If you want to build wealth, it will be much easier when you set clear goals for your finances. Do you want to buy a house? Live abroad? Go travel once a month? Earn a comfortable retirement? Write down these goals.
Rich people know that money is just a tool to achieve the goal. Setting goals and creating a plan will make getting rich much easier, says T. Harv Eker, millionaire. If you are completely lost in your finances, here we advised you what to do to plan your home budget and start saving.
First million before thirty? None of these things! According to The Spectrum Group, the average age of a millionaire in the US is 62, and only 1% of all US millionaires are people under 35.
Wealth building takes time. Of course, a high salary or income from business here and now is very important, but don’t be under the illusion that we will become rich day by day. It’s a process that requires a plan and consistency. Sure, extra cash injections are very helpful, but the most important is patience and a lot of work.