2007-06-03 14:22:09 · 5 answers · asked by Anonymous in Social Science ➔ Economics
Question: How can I create wealth?
Answer: Mathematically speaking, whatever you earned minus whatever you spend equal the amount you have left over (wealth). So, even when you have a humble pay, but you are extremely thrifty, you too can be a millionaire over time. Adversely, if you earned a million annually, and you spend a million every year...you are broke. Worst, you spent more than you earned, you are in debt.
Wealth can come in many ways. Wealth can be generated through a stable income. That's if you have a job, you generate income; be it medical doctor, lawyer, engineer, etc. Wealth can also be generated through risky means such as gambling, investment in stocks, etc. Since the risk is higher, it means that when things go well, higher profit is gained, while if things went bad, one may lose everything...including the capital.
In conclusion, you should work hard. Try to constantly upgrade your skill, so that you can get promoted and increase your pay; be it if you are employed or self-employed. If you want to invest or gamble, make sure you are good at it. Otherwise, your wealth decreases overnight. Save your money...slow but it is a steady and proven mean to increase wealth. Remember the Golden words: Every penny you saved, you are a penny closer to be the millionaire.
2007-06-03 16:06:26 · answer #1 · answered by Mr Siberia 4 · 2⤊ 0⤋
Wealth is created when someone creates something valuable that did not exist before. You can get rich by exchanging assets or buying and selling stock but you are not creating the wealth. The wealth is created by the people who had the Ideas and started the company, and the workers who produced the goods.
2007-06-03 17:31:27 · answer #2 · answered by meg 7 · 0⤊ 0⤋
Provide something people will pay for -- a good or a service. Do a good job for a price that people will pay; deliver on your promises.
Or just take someone else's wealth: become a lawyer or some kind of bureaucratic parasite, and live off the hard work of others.
2007-06-03 15:20:25 · answer #3 · answered by Yesugi 5 · 0⤊ 0⤋
Every get-rich-quick scheme out there is probably a scam. You can start your own business. Work hard and advertise.
2007-06-03 14:30:49 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Put your money in investments instead of consumption.
What this essentially becomes is letting other people use your money instead of buying DVDs with it.
2007-06-03 14:25:43 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Don't you know the phrase Money makes money?
2007-06-03 14:34:57 · answer #6 · answered by Bernar 3 · 0⤊ 0⤋