what is the best thing for me to do tomorrow in order to be wealthy?

Answer 1

Open an account at Vanguard and set up an automatic contribution into a fund that is appropriate for your age/risk tolerance. It won't happen over night, but it will get you on the road.

Good luck!

Answer 2

Don't start tomorrow... start today!!! That's one extra day that you can use to build wealth.

So, what you can do today:

Evaluate your expenses and make sure that you are not wasting money needlessly on things that you are not getting value from. This could mean cutting out cable channels and/or choosing between home phone and cell phone (do you need both?), shopping around for lower mortgage rate or car loans, get copies of your credit reports, and/or paying an extra $10 on a credit card applying to principle only. You can start looking at homes if you don't already own one and figure out what amount you can afford with a 15 year fixed mortgage (keep in mind taxes, maintenance and other expenses) either as primary residence or income property. You can try to brainstorm ways to increase income... part time job, take in border or roommate, sell things you don't need, find additonal tax deductions you qualify for, etc.

Get a plan going on how to build your wealth and don't buy things that depreciate in value. If you have a 401K plan at work, make sure you are contributing the max especially if the employer matches any percentage of what you put in.

Answer 3

Stop Spending !!!! SOOO simple !!!

Nothing makes money grow more than by adding to it. Soon it is big enough to grow on its own and that is where independent wealth comes from.

Every time you go out to buy something, put that equal amount away into a jar, savings account or sock. Once a month, once every six months or annually, take that money and put it in a mutual fund ((that you have done your homework on)).

Better yet, instead of go shopping put all that money away instead ! Its not how much money you make...It is how much you KEEP. Stop spending it all and soon it will grow. Very few people I have met in my life have the discipline to do this.

MSN money central has a savings calculator that works great for finding out how much you will have if you put away such and such amount! Figure how much you want to live off each year during retirement... double it and add a zero... that is the simple calculation you can do for the amount of money you need to have invested in an IRA, mutual fund or other, and live off its interest.

Example : if you want $50,000 a year to live off, then double it = $100,000 now add a zero = $1,000,000... you will need this amount to get $50,000 in interest annually with out working.

This "savings caclulator" it will also tell you how much you need to put away each month or annually which ever you prefer... TO get to where you want to be....with the number of years you plan on working yet.

One more thing... WHY WAIT TILL TOMORROW.... ????? TODAY is right here begging you to make a choice in the right direction !

: )

Answer 4

When you make goals, make them realistic. Wealthy in finances means that you accumulate money more than you spend it (in the long run). So some first things to do is...

1. Save instead of spend.
2. When you spend, buy items that last, not necessarily what is in fashion.
3. See that the money you're saving is accumulating faster than the rate of inflation.
4. If your employer has a 'retirement' fund and incents you to put money in (with matching $), then join that (it's free money)
5. Limit credit card expenditures - and be aware of the interest rate charged.

Answer 5

Work, dont spend, save, have a budget and look into investments of some kind eg property. Dont even look at any quick rich schemes - they dont work.

Lots of experts say to find investments where your money is working for you even when you sleep eg property, shares etc.

Another tip experts give is if you work intially eg making a video or writing a book and then once the intial work is done - you make money from it over and over with no more outlay to you.

Most experts say to give 10% of your income away to charity or church. This is one of those laws where you reap what you sow. Being stingy and you will be always broke. Give to others and it will be given to you! It is difficult to do but it does make you feel good to give.

But have to always remember basics. It doesnt matter how much money you have - if you spend more than you earn you will be no better off.

Answer 6

Hmm... you need to find a mentor who will help you develop a mindset to be wealthy.. that is what I did...

I now am a full time SAHM with a part time biz and a cafe I co-own with friends..

if you would really like to become wealthy, email me the answers to the following questions to [e-mail] and we will talk about your qualifications to meet my mentor...

- What is your defination of wealthy?
- How soon must you reach this goal?
- Why do you want to reach this goal?
- What other methods have you tried?
- Do they work?
- What inspired you to ask this question here?

Answer 7

I think a lot of money can be made on the Internet.

For example, I joined on CashCrate and filled out some free offers and its going very well. And there are no fees to join. It is totally free.

http://www.*************/index.php?ref=102685

This may not sound like much, but for every person you refer, you get 20% of what they earn. And for every person that one of your referrals refer to CashCrate, you get 10%. It may take some time to build up the number of referrals necessary to make a lot of money, but in time--this could be a great source of income--making money while other people are in a sense, working for you.

And by the way--never join a work at home program that wants you to pay up front. If they were making that much money, they wouldn't need to charge you.

I am not advertising this site. Just answering the question.

Answer 8

Start your own business. A succesfull owner of a bakery or a cafe makes around 110,000 a year. Thats what im doing. And you dont even reallt need a degree if anything a associates in business!!!!!!!

Answer 9

Go to your nearest casino now and bet whatever you have on "Banker". Why wait till tomorrow to make yourself wealthy?.

Answer 10

hard work and save ,,,working hard and doing everything 110%
sun up to sun down keep your eyes open for oppertunitys strike while the irons hot nothing ventured nothing gained ,keep thinking, self dependent only get out ALL negative friends and fam