The art of getting
rich quick can be summarized with one word: luck. The key to making money
quickly is. In many cases, to do the opposite of what you should do if your
goal is to retire at 65 or 70 with plans to golf three days each week. To make
money quick, you are taken by ignoring your family, your community and your
faith and instead focus entirely on yourself. Ready?
Here are the surefire ways to get rich quick:
1.
Quit your job today. If you
remain in your job, it may take the rest of your career to accumulate a million
dollars—if you ever do. Start your quest for instant wealth by walking out the
door. Never mind the bridges you’ll burn, you’re going to be amusing, quick!
Whatever you do here, don’t stay in your job for the next 30 years contributing
to your 401k—that surefire way to wealth will take too long.
2.
Need to get to Vegas and bet it
all. If you are committed to getting annoying fast, head to the nearest casino
and gamble until you have achieved wealth. Of course, you understand that it is
almost certain that you’ll lose all of your money, but if you don’t get it all
right now, you can’t get annoying quick. Whatever you do, don’t put the
gambling money in the bank where it will earn interest at a lower rate than 1%.
3.
Let all of your money in one
stock. If you don’t be off to Vegas to gamble, you can put all of your money on
one risky stock. Perhaps it will rise tenfold this year. It’s happened before.
Of course, it’s equally likely to go bankrupt as to risk so much. The most
probable thing is that it will go up or down a little and you won’t be loaded
quickly at all. You absolutely don’t want to diversify your portfolio with a
dozen or more stocks to eliminate the risk of one filing bankruptcy because
that eliminates the benefit of one going up tenfold. More than anything, you
don’t always want to invest in well-researched collection of mutual funds run
by professional managers. The way they work, it could take 30 years of prudent
saving and investing to get rich. That’s clearly not for you.
4.
Forgets stocks, invest in
options. If you are committed to getting rich quickly, you can use the leverage
of options to make your games even bigger. Options give you the right, but not
the obligation to buy (or sell) the underlying stock (or bond, or commodity
contract). With a few thousand dollars, you can buy options potentially worth a
million dollars if just the right, highly improbable thing occurs. Of course,
that means that almost certainly you’ll have lost all of your money on your
initial investment. Nonetheless, it will have been lots of fun. Of course, you
would never want to build your investment portfolio of plain old ordinary
mutual funds that can reasonably be supposed to appreciate in value
consistently over the subsequent thirty years. You don’t have the patience for
that.
5.
Not a financier, tries
entrepreneurship. Entrepreneurs are heroes. They’re cool. They’re sexy. Make
any of your money, call yourself an entrepreneur and then think of a business.
It’s easy. Never consider that most businesses fail. Disregard the fact that
businesses built around the simple premise of making money quickly fails faster
than average. The last thing you’d want to do if your goal is to have fatty
quick, would be to carefully build a team around you that includes people who
are generally smarter, older and more experienced who could help you launch a
business. Whatever you do, if you want to get rich quick, don’t start a
business that you actually care about, where you’d want to work for the next 30
years. That sounds an awful lot like having a job, working hard and waiting for
a long time to actually become productive.
If none of these strategies sound fair to you, perhaps it’s because
you don’t really want to get rich quick. Maybe what you really want is to put
your family first, to build a career based on integrity, to buy a home where
you can raise your children, and to partner with your spouse in the greatest
effort in life: to plan to spend quality time with your grandchildren.
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