Wealth And Happiness by Getting Rich

I think that more than half world’s population is dreaming either consciously or subconsciously of becoming rich. Being rich and wealthy gives an excellent opportunity to influence lives and opinions of other people. Rich people are powerful and influential in alls spheres of country’s policy and economy. Being rich isn’t simply being able to buy everything you want and to travel wherever you want. Being rich is ability to buy the way out of many troubles and worries, to escape from hard choices and to ensure better future for children and grandchildren.

How to get richer in contemporary world? This question interests everybody. Actually, there are many classifications of getting rich, and according one of them getting rich is divided into successful investments, stop blaming everyone in failures and changing “money setting”. Therefore, the paper aims at examining ways of getting by analyzing main sources of self-enrichment. Firstly, getting rich is simply re-shaping money settings. This first concept works more on psychological level making people act instead of simply reasoning about poor life.

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From the very childhood every person is sub-consciously taught how to manage money properly and to think about money developing in such a way specific attitudes towards it. It is necessary to re-shape the following about money and start working with new principles: the rich don’t work for money, because money works for them, etc. A person should study three core things. Firstly, he should understand that the rich are financially intelligent, because they should know how the balance sheet is read as well as they have to understand the associations between income and expenses, liabilities and responsibilities, assets, etc.

Secondly, in contrast to middle class people, the rich mind their own business tending to avoid the taxes legally. Thirdly, the rich invest money and know how to put them together to benefit in future. Secondly, getting rich is making money work for you. In other, it is necessary to invest money. In the modern world there are lots of investment alternatives to ensure well-to-do and descent life. The most popular investments are land, collectibles, and taxable investments such as common stocks, bonds and mutual funds.

Taxable investments are really important for retirement plans. They include, for example, common stocks, mutual funds and corporate bonds. Common stocks provide over the long term better returns, but the risk is reasonable. It is indicated that income from common stocks is about 11-12% per year. The advantages are that common stocks are very easy to buy and sell; there are many public companies issuing them; it is very easy to find reliable information on public companies. Investing in land and home (real estate and property) is worthy of attention.

Advantage of such investing is that mortgages give the opportunity to borrow against the property up to three times the value. Investing in gold coins, bullion, or jewelry is an interesting task. It isn’t a risky investment, because it doesn’t depend on the inflation rates in the country. Thirdly, getting rich is to stop the blame. People are always blaming the economy, the government, they business they are working in, etc. Moreover, they are blaming another people if they are financially unsuccessful. Silly excuses are used to justify new failure.

A person is able to succeed only if he starts to have better outlook of environment and his situation. For example, a person should stop arguing that he doesn’t have right education and he is unable to run this business. People claim they aren’t born in the right family or in the right country. They argue they don’t have right people and they aren’t smart. Getting rich means to understand that you are educated and smart enough to earn money and run business. Summing up, the main methods of getting rich are re-shaping money settings, paying attention to investments and stop blaming.

Re-shaping money settings and stop blaming provide both solid foundations for future success as they aims at changing human attitudes towards business and money, whereas successful investments are the first practical application of what should be learnt from the mentioned concepts. Getting rich is not simply buying everything; instead, it is a long-lasting and complex process. So, start working!

References

Kiyosaki, R. & Lechter, C. (200). Rich Dad, Poor Dad. USA: Warner Books.