Curious about the 10 best ways to get rich? The only way not to think about money, said novelist Edith Wharton, is to have a great deal of it. And while it might be true that money can't buy happiness, it can buy a large house, nice cars and exotic vacations. If you dream of living the fabulous life, then read on for the 10 best ways to get rich.
- Be born into money. It's difficult to arrange, particularly after the fact. But being born to rich parents dramatically increases the likelihood that you will be rich also.
- Win the lottery. This may also be difficult to arrange, but if you can find the best way to do it, the money is awesome. Sure, you'll probably go broke within a couple of years, but in the meantime you'll hear from relatives you haven't seen since grandma's funeral.
- Become a doctor. Depending on their specialty, doctors make somewhere in the range of $100,000 to $600,000. While that's not own-your-own-island rich, it's at least really-nice-car rich—as long as your parents paid your $600,000 of student loans.
- Marry for love—of money. These things never end well, so this piece of advice must be accompanied by another one: don't sign the pre-nup.
- Be the next American Idol. You know you can sing; your mother told you so. And besides, you stood in line all night long just to get a chance to audition. You must be the next American Idol. And once you audition, the judges will send you Hollywood. Before you know it you'll be on tour, becoming rich.
- Be the next best-selling novelist. About 85% of Americans believe they have a book in them. Assuming that about 100 writers in the US are currently filthy rich solely because of their books (and that's a pretty generous number), that makes your odds of becoming one of those filthy rich novelists about 2,500,000 to one.
- Invest in real estate. Real estate is an excellent investment—it's durable and always rebounds eventually. Sometimes the market temporarily takes a dive, but this is no problem, as long as you have the money to continue paying for the taxes, mortgage and upkeep.
- Sign on with a mult-level marketing company. These are also known, less charitably, as pyramid schemes, because the real goal isn't to sell products but to sign more representatives on under them. To do this, you mustn't lose sight of your goal—to sign people under you. If your brother tells you his kids have the flu, tell him they wouldn't have gotten the flu if he'd used your products (and that he'll get them for a discount when he signs on as a rep). If your aunt worries out loud that her dog's cancer may have metastasized, remind her how much more time she'll have to spread the word about your fabulous products once Fluffy is gone.
- Play the stock market. Buy low, sell high. Sounds impossible, right? But it's easy enough, once you find a few sources to give you the scoop on what companies are about to do. The key here is to make sure that what they tell you isn't inside information. Because that would be illegal, and you don't want to go the way of Martha. But as long as you can predict the future with absolute reliability, you will make a fortune on the stock market. And, hey, how about those commodities?
- Be boring. This is so boring, it's hardly worth mentioning. But as a nod to grandpa's old fashioned ways, it will be included on the list of the 10 best ways to get rich. Get a job. Spend less than you make. Save money for big purchases like cars and vacations, instead of putting them on credit. Use cash for smaller purchases, instead of putting them on credit. Save at least ten percent of what you make. Keep some back for emergencies, and invest the rest in a diversified portfolio with a good track record. Do that for twenty or thirty years and you will be rich.
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