How to Get Rich Young and Live a Work-Free Life

How to Get Rich YoungIf you could spend more years of your life doing whatever you want instead of working, wouldn’t that be great?

Lots of people have figured out the secret to financial independence.  And thankfully a good portion of them have documented what they learned and are willing to show you how to get rich young.  You just have to be willing to put in the work to make it happen!

But while this might sound all really good, the Internet is unfortunately full of get-rich-quick schemes that only pretend to make you wealthy beyond your wildest dreams. They lure you in with promises of wealth.  But in the end, they either don’t work or they were only a way to get your hard-earned cash.

So, what can you do if you want to get rich young in a legitimate way?

You can follow the examples of people who have actually done it. They have paved the path for you, even though they might not have taken the same route to get there themselves. You can learn from their mistakes, as well as their successes so you can avoid the pitfalls on the way to getting rich while you are still young.

Here are some of what they did:

 

Proven Tips on How to Get Rich Young:

  1. Start small, but think big. You can’t get a million dollars if you haven’t earned your first dollar. You don’t have to sell your product to a giant corporation at first. You just need to get a few people to buy it and spread the word. While this takes some time, it will pay off if you have a good product. For example, Philip di Bella started his coffee company in 2002. At first, he just sold his product to cafes. He also did most of the work himself, packing the coffee by and delivering it in person. He is now worth $47 million.
  2. Keep trying. Sometimes you have a great idea and you know it will make millions, but attempts to sell it fail the first couple of times you try to get it on the market. Be diligent. You may not see success right away, but if you keep trying, it could just take off, making you a millionaire virtually overnight. As an illustration, Trent Davis started NetBox at the age of 22, but his first two attempts were failures. Now, he is worth $30 million.
  3. Don’t buy the million dollar office before you have the millions to do it without going into debt. You will probably have to rough it for a while before you can afford to move up in the world. Saving money is part of making it, so if you don’t spend a lot of cash on things that can’t provide you with a stream of income, you will be in a better position as far as how to get rich young. A small office in a nondescript building is fine as you work toward your financial goals.
  4. Look bigger than you are. When answering your phone, you can make your company seem like it is relatively big by faking it. Pretend to be a receptionist and put callers on hold before you “transfer” them to whomever it is they need to speak with. To successfully pull this off, though, you have to make sure you deliver on your promises. Don’t make yourself so big that you aren’t able to keep up with demand.
  5. Invest in your employees. When you get to the point where you need employees, choose wisely and give them the tools they need to succeed. When they succeed, you succeed, so it is important for you to spend money on the things they need to perform their jobs at the highest level. When you have employees working for you who have aggressive growth targets that match your growth targets, everyone will work together to make sure they achieve them, impacting the bottom line.
  6. Establish clear goals. You will never know how to get rich young if you don’t make goals that put you on that path. If you don’t have goals, not only will you not have a target to work toward, but you also won’t be able to measure your progress toward that goal. Even if you fall a little short of your objectives, you will still be further along toward getting rich than you would be if you didn’t set goals at all. Focusing on the long-term also helps you get through any short-term challenges you face as well. You can suffer setbacks without feeling like a failure because you still have that ultimate goal sitting out there.

Getting rich at a young age is definitely possible, particularly with the technological age in which we live. There are tons of income opportunities available to you that weren’t there even ten years ago. The key is following a proven path that has shown over and over again that with diligence, you can become wealthy before you are too old to enjoy it.

 

Related Posts:

1) Tips for Saving for Retirement at 30 with Total Success!

2) What Happens When You Don’t Reach the Max 401k Contribution – You Don’t Want to Know!

3) How to Make More than Enough Money Just to Get By

Images courtesy of FreeDigitalPhotos.net

Comments

  1. says

    I think your point about not getting an expensive office is HUGE. Renting space can suck all of your cash flow and eat at your profits. I rent a space in a co-working office for $50 per month and it has everything that I need.

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