5 Smart Ways to Become Rich at a Young Age
5 Smart Ways to Become Rich at a Young Age, Just Lay Down at Home, Money Flows into Your Account
- Who doesn't want to have a lot of money? Moreover, he was called a millionaire or even a billionaire at a young age. Becoming filthy rich at a young age is not impossible.
But to get it also requires effort, thinking and smart work. If you already know how to become rich, by just lying at home, money will flow rapidly into your account.
Check out 5 smart ways to become rich at a young age, just lie down at home, the money will flow quickly into your account.
5 smart ways to become rich at a young age (Keys to Success)
1. Live frugally
The key to success for someone who has a lot of money, aka being rich, is to live frugally.
Just look at Microsoft Founder, Bill Gates and Facebook Founder, Mark Zuckerberg. Two billionaires who always look simple everywhere. No fancy watches, expensive clothes, diamond-covered belts. Not at all. Because their goal is to get rich, not to appear rich.
If you want to be rich, don't be wasteful in using money. Let alone having fun or wasting money. The money you get from your salary or running a business should be saved. It's best to play it again, for example for investment or developing a business. In this way, money will 'procreate.' The amount will increase, because you will gain profits.
Remember, finding and collecting money is not easy. It takes hard work, sweat and tears. Even up and down. So use the money you earn for useful things. Appreciate every penny of the money you earn, then you will become a wise, rich person.
2. Increase income
To become rich, don't just focus on saving. But how can you increase your income even more? This can be done by doing additional work, taking up profitable hobbies that can increase your income, and so on.
3. Building a business or business
Surely you have heard wise sentences like this, "if you want to be rich, don't be an employee, but do business." If you think about it, that's true too. So, what is your salary? The increase was not significant. Resign, then move offices with a new position, still the same. Double digit salary at most. Not to mention the pressure from the boss.
Generally, the greater the salary a person receives, the greater the workload and pressure. After a while you can eat liver.
If you are an entrepreneur or businessman, try setting up a business. Just start with a small business first. Starting from zero, from your garage. With passion, hard work, never giving up, willing to learn, and being creative and innovative, your business will definitely grow rapidly. Become a big business.
4. Stock investment
Do you still make work your main source of income? How about you switch now? One of them relies on investment as a source of wealth. Investment is often called the best way to double money. Imagine, at best the salary increase is only 10 percent per year. Meanwhile the prices of basic necessities are getting more expensive. Your salary is actually used up by inflation.
But if you invest, the profits can be tens of percent, even hundreds to thousands of percent. For example, stock investment. Don't believe? You can learn from Lo Kheng Hong. Successful investor known as Indonesia's Warren Buffett. He once bought shares in PT United Tractor Tbk (UNTR) in 1998 for IDR 250 per share.
Then the shares are left to 'sleep'. Then the share price became IDR 15,000 per share. Lo Kheng Hong is rich because he made a profit of 5,900 percent from UNTR shares held for 6 years.
Or PT Indika Energy Tbk (INDY) shares which were purchased for IDR 106 per share in 2016.
Holding it for 2 years, the share price flew to IDR 4,550 per share.
At the highest price, Lo Kheng Hong sold it and he made a profit of 4,000 percent in just 2 years. This is a real sultan. By investing in shares, you will get capital gains from increases in share prices. Plus pocket dividends from the great companies whose shares you collect.
5. Build relationships
Becoming rich is impossible if you do it alone. Becoming rich certainly requires a lot of helping hands from other people.
You definitely need lots of people who will help you achieve a comfortable life, both from a business and personal perspective. So, build good relationships to make you rich.