Given that there are only around two thousand or so billionaires in the entire world, which is populated by roughly 7 billion people, the chances of you or me becoming one aren’t really that great! However, that doesn’t mean you or anyone else cannot become rich with some well-planned effort. In fact, we are going to discuss five ways to achieve exactly that next.
Invest in Your Skillset
Find out what you are good at by trying new things until you are sure you have found it. Now it’s time to invest time, money and effort in developing that skill to the highest point possible. How do you think all those rich sportspersons, actors, and musicians came to be so rich? This applies to just about any field really. For example, a neurosurgeon in the US could be earning millions per year, but that’s only because he/she perfected that delicate skill through years of training, extra dedication and, of course, finding and directing his/her talent in the right direction.
Save Your First $100,000
Unless you are rich, to begin with, saving $100,000 is a target that’s not easy but achievable at the same time. The idea is to get to your first $100k in savings as fast as possible, and then invest it wisely. Investing money in the right places at the right time is the key to becoming rich and $100,000 is a good principle amount to get you started. Just don’t put all your eggs in one basket.
Find Out What People Need
This is basically what makes billionaires, so if you can figure out something that people need and manage to supply them with that, you will be making the big dollars in no time. This is no easy task though, especially since all big and established businesses are already trying to provide every service possible to get a share of all markets. Nevertheless, entrepreneurs with brilliant, world-changing ideas are always around the corner.
Get into Real Estate
There’s a reason why everyone wants to be a part of it and that reason is, quite simply, money! As long as you can get a loan from the bank to buy and develop the property, there’s a high chance that you will be able to sell it at a profit, given today’s demand for space. Business real estate is even more booming and profitable than residential real estate, but it will require bigger loans and investments. If you are a beginner, start small.
As this list of the most famous thieves in history on Smashing Tops will tell you, there are, of course, other less law-abiding ways to become rich as well, but that never really sticks, as Pablo Escobar found out the hard way back in 1993.
The idea behind becoming rich is not to hit a certain dollar mark but to try and become as good as you can in any given field. As long as your efforts are dedicated towards that, the money will follow.