Over the years I started to wonder how do people become rich. Everyday I spend some time researching and reading people's success stories. Now I have a clear mind around making money. First, I know this is under tutorials, but it makes more sense to be in this category because it teaches you ways on how to do better!
This article will be extremely long and of course it's free of charge. Why I am doing this? Because deep down in my heart, money has no value to me (another article for later). Plus, read our site's slogan. Oh, and one last thing before you read: you don't need money to be happy, hence "be happ'ier'" part.
Okay, so just to start off. I was born in poverty and so I took it upon myself like everyone else to dream big and get out of poverty. So at the end of the day, our goals are probably the same: to be rich.
When you were a child or you are still learning and going through school, you dream of being in a career you love and prosper in. That is true, if you love what you do you will make money, but you will not be rich, here, when I refer to being rich, I mean making over ten million dollars in your life-time.
Alright, so you study hard, go to higher education, graduate, and now you're at your first job. You continue to work hard, earn money, and consider more options. However, you never knew about the many other ways to make money. Right now I will tell you, I'm not rich, and really the only way to become rich is you must take risk with your money to make more money (something a lot of people in poverty do not have a choice to pick/do).
This is why many people in poverty are always striving to create the next best thing. Due to our limited options there really is nowhere else to go. Don't blame me though, it's the system's fault on how we humans structure our society.
Greed really changes people, but I want money to make you happy. So please, if you become rich, don't be a beach.
The Number of Ways:
As we continue to evolve in technology and our daily life in general, maybe this will soon be out-dated. There are so many job opportunities out there, and it's a good thing you can choose a career you want. Now, even if you get that career, you can still learn and know about other ways of making money. The three best choices will be given their own section. How I came to the conclusion of choosing these three best choices is clearly based upon the amount of articles I have read online, gathered information from key people, and everyday observations in life.
Each section does not depend on each other below, referring to "Way #". Even if you have a degree, no money, or not, these methods will work, it will only take you more time, and risks (because you have no money to fall back on, which rich people have the benefit of doing).
Other ways you can make money is by making yourself known on the internet, like YouTube, Facebook, etc. So when you start making that kind of money, you actually may enjoy it. However, in the long-run you may want to actually secure and earn money in a way which could help you retire, if you want to that is. As long as you're happy, I'm happy.
Way 1 - You Make The Best Next Thing:
Even if you are working, you can still be innovative at work and think of creating the next big product. This product can be simple. In this day and age, ideas are cheap. The only problem is the execution, knowing the right people, and being aggressive about it. Not to also mention, you have to market it to the masses and gain our trust as human beings.
Every engineer or anyone working in the STEM field knows that when you choose this career, you cannot stop learning and being innovative. You could make the next best application, design the best product, create a new and simple service, or create a new way of living life with your product. All of these are valid reasons where profit will be huge. Once you create what you have in plan, you can then seek venture capital, which is basically seeking rich firms to invest money into your company so you can grow. Do know though, these firms expect there investments to grow. This is why the rich keep getting richer. Rich people want to stay rich and that is the cost of many of society being in poverty, just because of this.
When your product hits the consumer market, you are actually doing really well. People are noticing the brand, and you are bringing in huge profit. So now you have to keep being innovative in order to keep the audience you have gained. Truthfully, if you don't entertain your audience, or in this case, your buyers, they will stop spending money on you. Here I mean making games, movies, and such. Entertainment is a really tough career path. Good thing we have sites like KickStarter, Patreon, and such, but really just the internet in general is a way to know if people are interested in something that you can make or offer to them.
What if though, you can't think of anything? This is where you must try reading and researching about different perspective of things. Math will also be involved. You have to take an idea you have and try applying it to something that has not been made already. Here is a quick example with a dish washer: back then, people would wash their own dishes and let them dry. Later, someone was like, "wow, washing dishes is repetitive... What if I create something that does the same thing?"... "Oh, washing the car is also repetitive..." That's how the car wash and dish washer were born. People created a machine that does these tasks for us to make our lives simpler. So if you have an idea, try to apply it to something that people spend a ton of time doing.
With the money you are earning or have earned you can also save it for the future. Budgeting your money is easy. Don't buy anything you really don't need unless you know you can fall back on your own cash. Remember, that's what rich people do.
Now when, you're making money at your job, you may feel content with your life already, and that's good, but of course you can continue to make more money in the next sections.
Way 2 - Investing Into Stocks:
Stocks are the most risky investments you can make to grow your money. You will have to constantly buy and sell your stocks to actually make a profit. You will also have to spend adequate research into learning how to be involved in the stock market. Luckily, you can find some good application or websites to help you get into the stock market. You can also higher different brokers and choose how you want them to invest. Just a warning though, investment bots do exist. What are these? These bots are automated software where a user can deposit money into and this bot calculates the trends, buys and sells stocks for you, and makes you the money. Isn't this cheating? The person basically doesn't have to do anything, and makes money automatically. Nope, in school I learned that when you get out into the real world, people will pay for anything that gives them and saves them time. Cheating the essence of time, is a good thing! Humans do it all the time.
How do I even get started on investing though? Well as mentioned before, you have to research! The best way to really make a profit in investing is to go big, but if you go big, you have a higher chance of losing your money. Typically, if you really want to earn some cash through stocks, I suggest you invest over $1,000. Any less than that isn't worth your time, as your returns may be low in the first few years. So now, you have deposited $1,000 into your choice of a platform for buying and selling stocks. Now you have to do some research on where to invest that money into. I will go over to the risky investments and safe ones, where your money is guaranteed to grow over the years.
The risky investments are usually with startups. Startups are companies that are consisted of a small work force, and they will be aiming to making the best next product for the market. This makes it risky because sometimes a startup will not prosper even with the funding from other people, firms, and loans. In order to get a return from a startup, it would be a good idea to personally meet with the team, and do some research on what kind of product they will deliver. At this day and age though, many startups have great ideas, smart people, and positive personalities. So if you are feeling risky, go invest into a startup.
The not-so risky investments are companies with a long reputation of being in the consumer market. These companies include brands such as Google, Microsoft, Best Buy, etc. These companies are always growing and if people continue to buy from them or use their service, it is a pretty good investment. It's kind of risky because sometimes if things go really wrong for the company, like a virus or wrong company move, the stock will go down and people will start selling their stock and moving to another company to invest into. Typically, you also want to invest into anything related to medical or something that is of great use. Everyday needs such as electricity, water, and food is a safe investment, but sometimes things can go wrong, and you should sell your stock before it starts to lose value. Utilities may get replaced when technology gets better, and then you should really invest your money into those companies that make them, and provide that service. The other companies such as Netflix, Uber, Twitter, and such can be a good investment in the beginning, but in the long-run, unless those companies do anything extremely innovative in their area or provide some good entertainment, they will not make your money grow. So be wise and know a bit about how trends work with technology. You can do a quick search on the internet and quickly find information about how the company is doing and whatnot.
The investments that are not risky are usually by investing into any company or collection of stock that is monitored by your country's government. These will always continue to grow because the economy changes, and the worth will always go up, unless war or a major event changes the economy of your country. An investment into banks, and necessities, mentioned previously are always going to grow just because of the basic needs of the human being. So what kind of stocks are these? These stocks are usually real-estate stocks, water company stocks, bank stocks, bond stocks, and such like that. Although the reward/return is low each year. You are guaranteed to gain money rather than lose money. These areas of investment will never take a more risky dive than the other stocks because everyday someone is always spending money on them. That is really the main reason. Remember when oil stocks were high and gold? Well that was because gold had value back then, and everyone wanted a car/vehicle. So these investments can last quite a long time, especially anything related to electricity/fuel, food, housing, etc.
Wow, I have invested my money, it's growing, but I would love to make more money. Well, the next section will boost that cash you have if you are willing to make the risk.
Way 3 - Owning Real-Estate or Anything Land Related:
This is the most risky investment you can make to earn money. If you buy land, build a space or building on it, and rent it out to a company, family, or person, you will gain more money in the long-run. Do be warned though, you will have to maintain these buildings and land, which could be either a stressful responsibility for you or not. When you go back to the ancient times, such as the nobles, knights, and important people. They all had something poor people didn't have much of. That is land. Owning land is a huge investment. Sadly, Earth is the only place as of now where you can buy land, but in the future when we discover new planets, you can buy land and it will be very risky at that time. For now, owning land is a good investment, but has a really high cost of starting. What you want to do first is have money saved up. Additionally, you can reach out to your family members, or friends and form contracts with each other so you all can own land together and pay each other from how much it makes. I'll give a short example: My friend and I both want to make more money, so we see this apartment with ten units is on sale. We check it out, and we both don't have enough funds to buy it right away. So what we do is then survey it and see if it's in good condition. We both can pull out a loan, mortgage or so, or split the cost of the apartment and share the profit together. Then once we both make more money, we can buy our own apartments, or land, or houses and still continue to make money.
You see that right? With this method, you can only get more rich, until you really stop caring, or want to get rid of your assets (for whatever reason you have). Owning land, especially in places that have a high density of people can be risky in the beginning (and probably cost more), but if you hire other people to help you manage, and you also manage (which you may not have to do), you will be making so much passive income, you may never have to work again.
I mean if you see yourself being happy without working and doing nothing for the rest of your life, then that's great! With your own property being rented out to people or companies you will definitely see cash flowing. The only reason you will lose cash is if, something goes really wrong, like the building catches fire, a natural disaster, a war, or anything that great imposes damage to your land and buildings happen. Si it is actually a risky investment, but a safe investment for the future. Everyone needs someplace to live in, work in, and such.
Once you start making more money in real-estate you could also move on to creating office spaces for startups and renting it out to them. Like adding utilities, special machines, or owning your own factory, farm, and such!
Any More Ways?:
Of course their are many other ways to earn money. You can still have a hobby and make profit from it. The three ways listed above are just ways that could make you rich. Because we all know a normal job these days even if you make $100,000 a year, won't make you a millionaire.
Personally, I'm not rich, but my own dream is to own my own real-estate (apartments and office buildings) and create a community with motivated individuals, while also developing and engineering my own products.
Inspiration From and Conclusion:
I get my inspiration and thinking from observations. There is many life changing events that have happened to me to realize this. I would list them all, but generally, by reading you can gain so much information, it's up to you whether or not though, the information is useful. People I was influenced slightly by are Bill Gates, Warren Buffet, Jack Ma, Elon Musk, Matt Tran (YouTuber), John Sonmez (YouTuber), my friends and more.
I hope you were able to learn from this article. Go out there and make money. Don't take advantage of people, but let them know you have good intentions for everything you do, okay?
If You Mess Up:
This section is entirely new! Now what about failures that you have gone through with any of the above sections? Just remember this and don't forget! It took man-kind 10 launches until we were able to reach the moon right here! So if you haven't failed more or less, then be prepared for it. It's a part of life that will never change unfortunately. This is a cheap saying, but everyone knows about not giving up and always keep trying. I will share with you that those are good to know, but what really matters is your life style and mindset. If you find yourself struggling and failing most of the time towards any of the above goals, maybe you need to change your diet and mindset. By doing so, you can freshen up your body with better food, and your brain will become much more responsive. Sometimes it's not what you are doing that's wrong, it's how your living is what's wrong. It self-explanatory so you will be able to understand it easily. Once you makes and notice changes in how you act, think, and live, you can try all the ways above again!
If you would like to add more experience, inspiration, and wisdom for other people, please feel free to comment!