Seeking help from rich people

Question

I'm currently reading the book called "The Science of Getting Rich," it explains a lot about the mindset in which you need to be to make money. I already possess a great deal of these attributes.

The question I am asking is, what is a successful money making machine, so to speak? How did you become rich when you came from not having a lot (I think I'm middle-class, by the way, not that it matters)? Steps you took etc.

Answer 1

Project Payday is a huge scam. If you don't believe me, check it out on www.ripoffreport.com

Answer 2

I'm 30 and retired from a job that used to pay me 60000 a year.  Learn as much as you can about money.  Take a finance course and you will see how easy it is to make money.  Fact is that most people go about it the wrong way and just get stuck paying bills for most of their lives.  Also, open an online brokerage account and learn how to trade stocks.  Visit my blog http://unbiasedstockanalysis.blogspot.co... ask questions, post comments, and click on a few ads at the bottom of the page while your there.  Good luck.  Your on the right path already.  Most rich people think the way you're already thinking so you definitely will get there.

Answer 3

what I would recommend you to do is to work out what is your financial goal, what is the time frame you want to get there and what is your financial risk profile (be realistic about it), and where you are financially right now. so you know where you are right now and where you want to go, most people work out where you want to go but doesn't know where they are at the moment (half complete map).

Once you have done that there are three main area generally you can create your wealth: stock market, property and business.

based on your risk profile and where you are at the moment then you can work out which of the 3 areas you can do, have small initial fund doesn't mean you can not do anything, infact it always good to start with smaller capital even you have lots of money to test the water especially when this is your first time.

I would also recommend to choose the one that you also like and passionate about it, since it will be easier for you to learn and manage your investment since it's in the area that something you like and also most importantly fit to your risk profile.

once you work out one of the 3 investment instrument and I would highly recommend you do your research, don't trow money to someting that you don't understand.

business: I would recommend you to read e-myth by michael e gerber, the book illustrate how to create business plan, the system for your business. it's a good place to start

stock market: you can go to asx seminar the fee is reasonable or their free online learning (http://www.asx.com.au), instead of going to thousand dollars + course just to get the understanding of the market.

property: I would recommend you to read real estate riches by dolf de ross, you can subscribe to donald trump university newsletter (free); this will give you idea on the sort of thing you can do in property.

This is just the starting point, and once you know which area you want to focus on, then do more research on it, since each area there are lots of thing you can do.

buiness: you can set up small business, francise, becoming francisor, etc...

stock maket: stock, option, future, warrant, margin lending, cfd, etc...

property: buy/sell, investment to keep (long term investment), development, etc...

having small capital it doesn't mean you can not do any of the three area, you just have to be smart about it. you can find the right instrument that is suit to your budget or you can do joint venture or partnership, etc.., make sure you don't over stretch your self in the process that's what kills most people.

although I said 3 area: stock market, property and business, it doesn't matter which one you choose you need to tread them as business even it could be stock market or property, if you want to be successfull, and manage your risk (which most people forget).

I hope it give you a starting point and good luck.

Cheers

Answer 4

I'm not rich.  But there is saying: if you want to be rich, do rich people things.  I have found someone named Dave Ramsey and he makes sense and he wasn't a "trust fund baby" or anything.  His program makes sense and is extremely successful.  Check him out and read his story.  He went from nothing to a millionaire to nothing back to millionaire.  It's worth checking out at least.

Answer 5

take lots of calculated risks, and always use other peoples money borrowed at a lesser amount to give high returns on your investments. remember if the risks are too high, the failure rate will be higher.

Answer 6

What's going to make you rich is finding an employer who has a generous pension matching benefit.  The day you graduate from college (debt free), you work for a good company and MAXIMIZE your 401k contributions in age-adjusting mutual funds. You WILL be a multi millionaire when you turn 65.  And it's money you NEVER see when it's coming out of your paycheck.  So you don't miss it.

Answer 7

hello - some people would call me rich, but im well below the actual statistaical number for it.  howveer, i have a dsolid roof over my head, food on the table and i have enpugh money for fun, while putting alot away for retirement.  

here are the things that i think have helped me get where i am, and will help to to actually be rich in the next 5-8 years.

i am well and highly educated, i tried a few things before i found my "passion", i work hard at it, have a great reputation in my field, take risks, and am not afraid the try new things.  so, i love what i do, i continue to educate myself in my field, i have two small business on the side that i also love and that keep my passion burning, and i am not afraid to take risks.  

good luck

Answer 8

More money, more problems.  Be content in the state you're in.  Some would view you as already being rich?

Answer 9

People who end up rich (or famous) seem to always have some traits in common:

- not afraid to work long hours;

- not afraid to take big risks;

- are driven by what they do;

- love what they do;

- put everything into their business or project, often at the expense of friends, family and leisure.

I'm not trying to be negative about this, just candid.  Even most rock stars are driven to perform, the one's that aren't often don't make it.

ps Real Estate worked for me.  If you like the stock market, be aware that if you are not a big time customer, some brokers will likely try to use you to unload stocks that their big acct customers are trying to get rid of.  Better to self teach yourself and do your own buying and selling.

Dan

Answer 10

I´m also reading this great book of Wattles, through "The Science of Getting Rich Program". This program was designed by three of the teachers in "The Secret", Bob Proctor, Jack Canfield and Michael Beckwith, all self made multi millionaires.

The coaching and help you get by these men, through the program is priceless and I strongly recommend "The Science of Getting Rich Program" to everyone interested in the Law of Attraction!

Their homepage can be found here http://thesgrprogram.com/?a_aid=30c10055

Answer 11

property can make you rich, buy and sell property, do it up and sell it.

you need to be in buisness to make money.

if you make a good company and sell it you can make alot of money.

i am a kid but i had an idea to buy failing companys make them better and then sell them on? you can have that isea if u want?!

Answer 12

do you know who will be rich ?

you'll be rich,when you don't have friends(sexual friends too)

you'll be rich when you don't sleep (1 or 2 hours enough)

you'll be rich when you think always about money (in your minds)

you'll be rich when you have fresh thoughts about money (how earning it)

that's all i guesss