[Butterfly]

In the world where money is nearly everything being rich seems like salvation from many problems. But how can one become rich, especially if he has no wealthy relatives who could leave him a fortune? Well, there are some ways actually. Here they are:

Getting Rich Through a Career

1. Excel academically. Whether it's a four year college or vocational training, most successful people pursue further education beyond high school. In the early stages of a career, your employers have little to go off besides your educational background. Pursue an appropriate degree.

2. Choose the right profession. Look at research survey salaries which indicate average annual incomes for specific professions. Your odds of getting rich are way less if your pursue a career in teaching than a career in finance.
3. Choose the right location. Go where the good jobs are. If you want to pursue finance, for example, there are far greater opportunities in NYC than in Kansas.
4. Get an entry-level job and work your way up. Play the numbers game. Apply to many places and conduct many interviews. When you get your job, stick with it to get the experience you need to advance.
5. Change jobs and employer. By changing your environment, you can increase your pay, experience different corporate cultures and reduce risk. Don't be afraid to do this many times. If you're a valued employee, it's also likely your current company may offer you a raise or other benefits if they know you're looking at leaving.



Getting Rich Through Investing

1. Invest your money in education. Go to universities and obtain degrees that are considered in your chosen profession. You sometimes have to spend money to make money. For example, if you're interested in business and obtain an MBA, the money you spent on that will likely earn itself back in a few years.
2. Put money in the stock market. Invest money in stocks, bonds, or other vehicles of investment that will give you an annual return on investment (ROI) that's enough to maintain you in your retirement. For instance, if you have one million dollars invested and you get a reliable 7% ROI, that's $70,000 per year!
3. Invest in real estate. Relatively stable assets like rental properties or potential development land in steadily growing areas is a good example. These are purchases whose value will likely increase over time. Your odds of that happening are better in some spots than other. For example, an apartment in Manhattan is guaranteed to increase over a five-year period.
4. Invest your time. For example, you might like having free time, so you give yourself a few hours a day to do nothing. But if you were to invest those few hours into getting rich, you could work towards having 20 years of free time (24 hours a day!) with early retirement. What can you give up now in exchange for being rich later?
5. Avoid purchases whose value is guaranteed to decline. Spending $50,000 on a car is usually considered a waste because it's a guarantee that it won't be worth that much in 5 years, regardless of how much work you put into it.
6. Stay rich. It's hard to get rich, but it's even harder to stay rich. Your wealth is always going to be affected by the market, and the market has its ups and downs. If you get too comfortable when times are good, you'll quickly drop back to square one when the market hits a slump. If you get a promotion or a raise, or if your ROI goes up a percentage point, don't spend the extra. Save it for when business is slow and your ROI goes down two percentage points.

Getting Rich Through Saving Money

1. Pay yourself first. This means before you go and blow your pay check on a new pair of shoes or a golf club you don't need, put money aside in to an account that you don't touch. Do this every time you get paid and watch your account grow.
2. Make a budget. Create a monthly budget that covers all your basic expenses and leaves a little bit of "fun" money aside. Do not go over this.
3. Downgrade on your car and house. Could you make do with an apartment instead of a house, or have roommates instead of your own place? Could you buy a used car instead of a new one and use it more sparingly? These are all ways to save a ton of money every month.
4. Cut expenses. Look at the ways you frivolously spend money and remove everything. For example, avoid going to Starbucks every morning. That $4 you spend on designer coffee every morning comes out to $20 per week, or $1,040 over the course of a year!

[Miss Provocateur]

Cool tips

[Butterfly]

A few more tips which can be helpful if you decide to get rich:

- Define what rich is to you. In other words, what do you envision when you think about being rich? This can be different for everyone. For many people, the idea of getting rich is tied to prestige and getting respect. It's about maintaining a luxurious standard of living. For others, it's a matter of planning for Retirement. Some people want to get rich so that they never have to work another day in their lives. In this case, the standard of life one wishes to maintain once retired is critical to understanding how much money is needed to get rich.

- Surround yourself with self-made millionaires. Learn from them. It's been said that "like attracts like". Get all the information you can about how rich people started making big money and what they are doing now.

- Every night before you go to bed, empty all of your spare change (coins in particular) into a jar. This takes time but after about one year, you may have at least $150 saved up in coins.

- If money is burning a hole in your pocket for something specific (a new car, for instance, when your current model works fine), force yourself to wait a month before buying. Ask a family member or very trusted friend to hold your money for you if it's that much of a temptation. Spend time considering the real cost of what you want to buy, the pro's and con's, how much it will set you back in your aspirations versus the immediate satisfaction,and how that money might be put to better use.

- If you find yourself wanting something big to gratify you immediately, divert yourself with a small indulgence rather than giving in to the large one. Walk away from the designer suit or purse, but buy an ice cream cone or catch a movie instead. The $8 movie ticket is a lot less expensive than the $800 purse, but gives you the same feeling of doing something "just for you."

- Pay off all your smallest bills first and then apply those payments to the next smallest bill until you are completely out of debt. If you are going to take out any new loan, then make sure that it is for something that will produce income.

- If you are self employed then Form a Sub-S corporation. This will allow you to take a reasonable salary for your type of employment and then take the rest of the profits out as a distribution which is only taxed at 15%. You can also deduct your vehicle through the corporation (must keep log). Business equipment, purchased or leased through the corporation, can be expended in the same business year up to $250,000. So if your corporation made $300,000 in NET profit then you would only be taxed on $50,000 because the equipment lease would offset the income.

- Keep your credit record clean because most companies require capital infusions to grow. You won't be able to get a line of credit if your credit score is low.

- Keep your personal expenses as low as possible and re-invest in your company until you are financially independent. This means wait until you can float your home and business for 6 months without any money coming in the door without a loan.

[Strega]

Thanks, that is usefull