2007-01-20 12:21:49 · 7 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
spend less than you make.
don't buy debt
learn about investing...then invest
put your money in vehicles the government can't touch pre-tax stuff.
make your money work for you instead of you working for your money.
don't chase money though, you'll never catch it. do work that you love and you'll never work a day in your life. be passionate about your work and the money and opportunities will come to you.
2007-01-20 12:44:02 · answer #1 · answered by Debt Free! 5 · 3⤊ 0⤋
Invest 10% of your income every month. Have it deducted automatically from your bank, before you get to actually withdraw it. This is called "paying yourself first". You have to learn to live on what's left. Never run up a credit card bill you can't pay off that month. It's a foolish waste of money to pay any interest on a card.
Invest your 10% in no-load, indexed funds. Start with the Total Stock Market fund from either Vanguard or Fidelity. As your wealth increases, diversify into other no-load, indexed funds.
Never buy a front- or end-loaded fund. Never buy managed funds (the management fees will heavily impact your profits) and never employ a financial analyst - they are interested in their own profit first, then yours.
Read as much as you can - try the Motley Fool website or Bob Brinkers. Both have educational sections about investing wisely.
If your employer offers any kind of 401K, 403B or other pension fund, pay the maximum you can into it - often they will match part of your contribution, which really increases your salary.
2007-01-20 15:46:03 · answer #2 · answered by Anonymous · 0⤊ 0⤋
1st to say that to be rich is not that easy. Then 2nd is that if u really need to be rich u need to work in market or pushing trally in car park and that is how u be rich.
2007-01-20 12:29:01 · answer #3 · answered by historyman_of_sa 4 · 0⤊ 0⤋
Work smart and spend less than you make. Invest wisely.
2007-01-20 12:24:58 · answer #4 · answered by Nelson_DeVon 7 · 2⤊ 0⤋
Do you already have $10,000.00 USD in your bank account?
Before you go to Mars you have to go to the Moon.
2007-01-20 18:12:25 · answer #5 · answered by Anonymous · 0⤊ 0⤋
hey, check out these two sites
2007-01-20 12:28:00 · answer #6 · answered by slipstar_182 2 · 0⤊ 0⤋
that answer is simple WORK HARD
2007-01-20 12:34:37 · answer #7 · answered by stuart f 1 · 0⤊ 1⤋