If you ever see a post or advertisement telling you they can help you get rich quick: RUN THE OTHER WAY! Getting rich should be a slow process, and requires good money habits and dedication. There is a good reason why many lottery winners lose their fortune quickly, they don’t understand how to manage their original amount of money, let alone a large sum.
Want to Get Rich Quick?
If you want to get rich quick, there should be a casino or lotto nearby that you can try your luck on. At the end of the day, getting rich quick is often attributed to luck. Also, if you want to get rich quick, you have to be prepared to lose your money quick too. With luck, often comes risk! And the higher the risk, the higher the chance of reward, but the higher the chance to lose it all.
Want to Get Rich and Stay Rich?
Good money habits are the first part of getting rich. If you don’t know how to look after your money, you wont be able to keep it in your bank account long enough to actually get rich. Knowing where your money is going, saving more than you spend, and learning to invest are all great money habits for building wealth. Getting these down will form the foundations for getting rich slowly and successfully.
Getting Rich Slow
The best way to build wealth is to do it slowly but surely. Being consistent, well diversified, and holding for the long term are the best factors for success. Investing for the long term isn’t always, and probably shouldn’t be, exciting and fun. The more boring your strategy, the better it probably is. Again, if you are looking for fun or to make money quickly, go and gamble. Slow and sure always wins in the long term, have you heard the tale about the rabbit and the hare?
When it comes to my money, I use my offset account for my savings, and I use Pearler for my investing. I’ve only recently moved to Pearler and believe it’s the perfect place for those looking to build wealth for the future. They focus on those investing for the long term, and don’t incentivise trading more often or compare your performance against other people, like some other platforms. Click on the link below to sign up to Pearler and receive a free trade!