How To Get Rich While Still Young
This series of posts is just for one thing: to share the course I am taking to get rich as soon as possible. To be up-front about what follows, you must know that I live in India and all the investments I talk about pertain to the Indian economy. Apart from this fact, everything else remains same and all the self-made billionaires have these things in common. I just follow them. Emulating is the next best thing to do, if getting rich isn’t on the agenda.
Prepare to learn, egghead: We weren’t born with everything dumped into our heads. We have a learning curve, remember? Why do people forget that the day you say “I know everything” they are literally closing all the roads that lead to riches? One of the foremost things to do, even before you set out to tread on the path to untold riches is to prepare to learn. Read, subscribe to books and magazines, invest in learning. You won’t regret it. Check out this post on some of the best books ever written.
When young, prepare to slog your ass off: If you are the types whose dad didn’t leave a fortune for you to splurge, you have just one way of getting rich: follow the taper – work your bottoms off initially and then work such that the amount of work you need to put in must reduce with time. By the time you reach your late thirties or early 40s, you shouldn’t be working for money anymore. It should just be for fun; because staying home without doing anything and watching Oprah’s shows can be really boring.
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Start with a job, but don’t intend to make a career out of it. Career is for those who will help you get rich. Your career is entrepreneurship. I am not saying career or a job is bad, all I am saying is that this isn’t where money is.
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Start a part time business as you are working. You must keep both of them apart from each other and find time to do both of them well and for a long time. You will now have considerably more money than most of your peers.
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Invest this excess money in assets and not liabilities. I will dedicate an entire post for discussing the financial part of your “ get rich strategy”.
Prepare for the bloody long haul: That’s right. It isn’t going to be over until it is really over. That means that I will go so far to the extent of saying that I did learn that the quest to riches never ends. Somewhere along the way, you will have to place a hand on your heart and decide where you will need to stop. I am not a fan of building multi-million dollar companies and spend a life-time trying to motivate and manage others. I come from a mind-set that says that people are unmanageable and I am better off with whatever excess money I can care to spend. So my way of looking at it all is different. I will work only for so long and then stop chasing money. You got to choose what you want. There is enough advice out there to help you with this.
Lousy excuses can only make you poor: Aren’t you tired of hand-to-mouth existence? Don’t you want a way out of this crappy paycheck-to-paycheck life? Oh, well. You might be, you might not be. But then, very few people actually take the plunge and do something about their lives. Thanks to that fact otherwise you’d see everyone getting rich, eh? Losers don’t have a right to get rich. No one earns money until some work gets done. No work, no pay. According to Felix Dennis, a self-made billionaire and the owner of Dennis Publishing likes to say “ Money talks, Bull-shit walks”. I love that.
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