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How to Get Rich Quick

You don't, end of story.

Glad you stopped by?

For every one person who has some dumb luck , there are thousands who are focussed on this stupid question, yet there are plenty of answers, plenty of experts and plenty of schemes.

Get rich schemes make their promoters money. They sound plausible enough but are designed to separate you from your hard earned cash.

We all aspire to have more wealth, with which comes more choices. Having more choices is true wealth.

Whenever I hear this question asked, I simply shudder,  because it is the wrong question, apart from being simply stupid.

OK , so what is the right question?

There is no right question but there are a series of questions you can ask to get a better mindset as to building wealth.

Here are some better questions.

  • What do I want to achieve?
  • What are my goals
  • What choices do I have to achieve them?
  • How much risk am I confortable with?
  • How long do I  want to invest for?
  • What else do I want to do?
  • How do I protect what I have?

When you know the answers to these questions you are putting your mind in the right place to start your finance journey.

7 Fundamental Steps to Secure Your Personal Finance Base

Your plan is only as good as good as its weakest link

Without a plan you are kind of randomly drifting. You can and should adjust your plan as you discover new possibiliies. OK without further rambling, here are the 7 steps.

 

Create a Rainy Day Fund

Get in the habit of putting aside at least 10% of what you earn. That is the easy part.
Then leave it the heck alone!

As you build assets - get a Will

If you have dependents, you need a will.
Just do it.

Stop being random - Get a Plan

A plan gives you targets
Targets are good as you can make adjustments to make sure you hit or change your goals.

You work hard to get what you have, so insure it!

Insurance is what should let you sleep at night. You need to think about your car, your house, the stuff inside the house, and oh yeah, you!

Now the fun part - develop an investment plan

Oh I dont know where to start. Seriously? Yeah you do,

Keep adjusting your finance plan until you are working to be not working!

Profesional advice needed here. Lots of boring rules to naviagte.
Pay a finacial planner and reap the benefits!

Make it tax efficient!

Thre is no prize in paying more tax than you need to. But you need to make the right decision and not be deluded by tax deductions.

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