Any suggestions how to go from poor to rich? (not a get-rich-quick scheme necessarily)
by 
KristiAlex
ANSWERS: 8
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Develop a habit of putting back a portion of your money, then develop an understanding of the financial market and how to invest intelligently. ...then put the two together.
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Have you ever held up a liquor store at gunpoint? +5
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In order to become rich you must generate cash. That may sound like a really simplistic and dumb answer but hear me out. If you have an average salary, and can only invest/save, a moderate amount each year, the odds of you becoming rich strictly off the stock market are very poor. If it were that easy everyone would be rich. I have books on investing, and done lots of research on companies, stocks, and investing in general. I have been investing yearly in the stock market for the last six years and I'm not even remotely close to having a million dollars. I even put in a lump sum of 100k after my parents passed away and I was given some life insurance. In order to become rich you must figure out a way to make more cash. Then you can diversify that into stocks, savings and money markets, and you will eventually become rich. Most people who are very rich have started a small business, then another, and another, invested those profits and became rich that way. It's not easy, it's not magical, and it's not get rich quick. But it's really realistic.
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Only 2% of people will get truly Rich. Most rich people are rich by heritage but those who start as poor are mostly lucky to get excellent opportunities and are willing to use the opportunities. As you see, you can be the most willing person in the universe, but you don't control the opportunities that you will get. Most others will keep working their day jobs. So the only thing to do is to keep your eyes open for new some opportunities while also putting as much money as you can away in your retirement accounts so that you atleast don't die poor.
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Fact from fiction, truth from diction. If you want to play the "long game" in getting rich, most of the top 5% of America done it with real estate. You can start by looking into lein sale properties. By searching around you can find out which states allow you to by over-the-counter, which means you can do it through the mail or over the Internet maybe. The interest rates are usually better than banks and such and if the redemption period is a year or less, you can make more off your investment than you could stashing it in a bank, and unlike stocks, it is secured by real estate, making it very safe. And if the person do not pay off the lein you could end up with property free and clear of any mortgage. You can then sale it at a discount and still make money or lease it out for a monthly positive cash flow.
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Work and pay your way through university. Do a course which will lead to a field where there is a shortage of experts. If there aren't enough dentists in your country, do dentistry, etc etc. Find a need and fill it.
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Invent a cure for cancer. Take up alchemy and find a way to convert lead to gold. Marry a millionaire.
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Make sure that every week, you spend less than your earn. My father taught me that. It hasn't made me rich, but I am not in debt.
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