People believe in get rich quick. That’s why you see “them.” These are the people who take advantage of other people who are looking for a quick fix. They have ads on television saying you can get rich with their system for the stock market (they will get rich – you will lose money). You see it on the internet – “Boost your wealth overnight!” Of course, “they” tell you that you can connect and make $5,000 a month or $14,000 in one month! Don’t. Don’t buy into it.
There is no get rich quick.
Please be careful when you see anything that looks too good to be true. You have opportunity to live below your means. You have to set a strategy to build wealth and realize that most wealth is not “get rich quick.” However, you can absolutely build wealth by focusing on:
If someone offers you “get rich quick” and you have to pay for it, tell them to GET LOST.
What can you do to change your financial future? Here are the real ways to build wealth and have more control over your financial future.
1. Elimination or Reduction Of Debt.
2. Building a correct emergency savings fund (15 to 18 months of expenses in savings).
3. Find ways to generate passive income and income outside of your regular job.
4. Track all spending.
5. Set goals for short-term, medium-term and long-term goals. This could and should include 401k (if your company offers it), a Roth or Traditional IRA, savings, no-load mutual funds and certificates of deposit.
Stop chasing your credit score. Function under the new rule (same as the old rule) CASH IS KING.
Things have changed.
Don’t accept the past as the future, and don’t invest in things you don’t fully understand and fully believe in.
Slow and steady wins the race – every time.
Educate yourself on 401k, Traditional and Roth IRA accounts, money market and certificates of deposit. Don’t always assume that “investment guys” know more than you. Look at Bernie Maddof. Please. You are ultimately responsible for your financial future. Education and automatic savings will make you appear very wise in the long-run.
You can do this.