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2007-11-24 11:39:11 · 5 answers · asked by eitoo 1 in Business & Finance Personal Finance

5 answers

Spend LESS than you earn. This applies REGARDLESS of your income. Investing $100/month in an AVERAGE mutual fund for 40 year generates $1.17 million. Spending more that you make for ANY amount of time generate DEBT.

2007-11-24 13:13:55 · answer #1 · answered by STEVEN F 7 · 1 0

Beware of get-rich-quick-schemes that sound too good to be true. To get rich takes time, and it takes alot of re-wiring of your brain, new mindsets, a certain level of discipline. Education in helpful area certainly helps too. A key mindset to develop is building value of some sort. It is a universal, core principle of how wealth has been made from ancient days of Babylon to the present. Whether you build & sell a picnic table or build and sell a company, you are building value, and you deserve the wealth you earn from that. Buisness could also be real estate related, which is how some millionaires and billionaires have built their vast fortures.

Study other millionaires and billionaires. If you don't know any, you'll probably have to read about them. See the Forbes 400 list for examples of how the richest in America got that way:
http://www.forbes.com/lists/2007/54/richlist07_The-400-Richest-Americans_Rank.html

For some good motivational & rationale, read "Rich Dad, Poor Dad":
http://www.amazon.com/Rich-Dad-Poor-Money-That-Middle/dp/0446677450

For some great examples and a deeper look into what it takes to become seriously wealthy, read "How to be a Billionaire":
http://www.amazon.com/How-Billionaire-Proven-Strategies-Titans/dp/0471416177/

2007-11-24 22:02:27 · answer #2 · answered by Trillionaire Wannabe 2 · 0 0

I have recently invested in the Iraqui Dinar. I payed $1,100 for 1,000,000 NID. Right now the rate is 1 USD : 1225 NID, the speculation is that in a short time the rate will be 1USD : 3~5 NID. If you want more info on this go to this website http://www.investorsiraq.com Good luck

2007-11-24 20:25:06 · answer #3 · answered by dennisgonzalezdgm 4 · 0 2

Get an MBA=Get a wall street job= Get rich.

2007-11-24 20:32:25 · answer #4 · answered by john p 3 · 0 1

get a good paying job -- invest right -- and do not touch unearn earning!!!

2007-11-28 09:26:42 · answer #5 · answered by mister ed 7 · 0 0

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