How to get rich and stay rich

How to get rich and stay rich

By Fred J. YoungThere are only 3 ways to get rich :
1) Inherit it
2) Marry it
3) Spend less than you earn and invest the difference in something that you think will increase in value that will make you rich.

Extract from Chapter 10 “Certain Types of People tend not to get rich”
It is my observation that people who change jobs frequently tend not to get rich. I have no good explaination for this, but suspect it has to do with their constantly seeking a higher salary. As I pointed out earlier, salary is not what makes you rich. I do not want to imply that you should never change jobs. Not at all. If you are in a dead-end job, in a hopeless situation, or working for a dishonest employer, or hate your work, of course you should make a change. But if you want to get rich, you should find your spot as early in life as possible and then stay put and make the most of the opportunities where you are.

People who frequently move from one location to another also tend not to get rich even though they stay with the same employer. They tend not to take advantage of the opportunities where they are because they plan not to be there long. They frequently do not even own their own home, and as you probably know, investment in a home has been one of the greatest investments most people have made over the past 40 years.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s