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By Nicholas Jarder

Getting rich is what everybody desires as they want to live a life where they can get everything they need and wish for. To become wealthy it needs patience, determination and hard work. Here are tips on how to become wealthy the simple way.

The first thing you should do is to define what the word ‘rich’ means to you. There are people who define rich as money for everything they need. Others would say being rich is having money for everything they want. There are those who say it is having everything they need when they retire and relocate. After you have defined the meaning of rich, you would then be able to devise ways to get your aim.

If you have not earned a degree, go to college. If you have a high school diploma, this is a gateway for you to earn at least $20,000 annually. If you earn a bachelor’s degree, you would get an additional $20,000 more per year. Once you start earning big amount of money, you would then be able to have something to save.

Do not spend more than what you earn. Many people are materialistic; they spend their money on things that are not necessary instead of saving money. Quench your thirst for the new electronic devices or that sports car. Learn to be disciplined with your money as this virtue would help you in getting rich easily. Save 10 to 15% of your monthly income as this can become seed money should a good business opportunity arrive in the future.

Start a business of your own so as to earn money. When you own your own company, even if it is small, you are your own boss and the money you make will depend on the time and effort you pour into it.

Start creating or acquiring assets so that you would be able to make passive income. You can write website content and be paid for it. You can rent out things you own such as an extra car you have, sound system, electronic equipments and the like. If you have a digital camera, take pictures of people for a fee. If you have a computer and an internet connection, you can serve as a virtual assistant of individuals and companies.

The stock market is a good place to earn money. Patiently invest in stocks and in the future these would double or triple what they are worth. Invest in companies that give huge amounts of dividends such as McDonalds or Walmart.

As much as possible, eliminate those unnecessary expenses. Stay away from those iced coffees as they are more expensive. When you add these small expenses, they can balloon. Invest the money you usually spend on these into a mutual fund and when retirement comes, you will realize you have made tens or hundreds of thousands of dollars. Stay away from quick-money schemes as these pose a high risk where you will lose so much money.

These are some of the tips in getting rich the simple way.

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