How To Become Rich

Some advice about how to become rich and financially independent.


This is our 5 steps in how to become rich and financially independent. 


1. First of all you must learn to value time. Time is the most valuable thing a man has access to. So use it with care.


2. Do not by things on mortgage payments that will decrease in value.


3. Start with a lifestyle that allows you to save 10% of your income.


4. Save enough money to be able to borrow money in the bank for a house or an apartment. Plan early to use the increase in value to repay the loans. But don´t make this business to big. Have good margins and expand over time.  


5. Start by investing your savings in passive income. Continue to save regularly and make sure to get the compound interest effect.



How do you get your passive income 



To give you into the stock market presents both great risks and great opportunities. Basically, you can lose all your invested capital if you bought shares in the bankruptcy. On the other hand, there is no limit to how much a share may go up. You also get dividends every year when the company will distribute this year's profits. The growth in the stock market has long-term hovered around 10% per year. But this is not the stock market as a whole, individual shares is not as consistently upward. 


To reduce the risk in your portfolio, it is useful to allocate your capital on 10-12 shares in the 5-6 range of industries. In this way, you hedge yourself against losing your entire capital on a given shares plunge dive or if the air goes out of an entire industry. You should also make sure to spread your investment over time as you buy shares at a "cut price" and not likely to only buy a certain stock when it reached a temporary peak. make sure to get the compound interest effect. Shares can be purchased through your bank, either through personal visits, telephone or Internet. 



Read more about this in the article: Be successful on the stock market.




If you do not want to directly owned a business, you invest in a fund. When you invest in mutual funds to buy a stake in the fund's assets and will thus have a risk-spreading from the crown. Funds managed by the so-called fund managers who are responsible for managing capital and the buying and selling shares or debt securities. When selecting funds, it is important to note that the fund managers charge an annual fee is a percentage of the fee each year. The lower fee fund, the greater your annual increase in value be. 


Bank Account 

A regular savings account is the way that most Swedes have their passive income from. What is important to remember is to actively select a bank and an accounting solution that suits your needs. What many people do not realize is that the usual bank account does 0% interest. You can actually, in principle, less of allowing money to remain at your account because inflation reduces the real purchasing power of every dollar for each day that passes. However, there is the possibility of opening so-called savings accounts that are up to 5-6% interest depending on conditions. These conditions usually means that you can only withdraw money a few times a year, or that you lock your money in a number of years. Common to both of these solutions is that you must pay a fee every time you take out money over and above the agreed limit. 



Car commercials 

By allowing different companies to place advertising on your car, you can get a regular income. Some companies offer such as their customers up to $ 600 per month for up to 24 months depending on the car, driving habits and location. The only thing you need to do is register at their website, upload a photo of his car and answer some simple questions about driving habits. Once done, simply to stay ahead of the new campaign will appear on the website. 



How to Become Rich



The big difference between rich and poor is that the rich look to gain passive income. One can simply say that the poor work for money while the rich let money work for them. Wealthy people also see money as something fun and inspiring, poor people see money as a problem or necessary evil. It is simply changing your perspective so you can see money as something fun. 



Investment Strategies 

The difference between those who succeed in the stock markets and those who fail are often the lack of a clear strategy. Poor people often take their economic decisions in a sense, the rich are always very thorough about it after counting and weighing of the disadvantages. It is therefore important that you learn to count through and find good investments on their own instead of going on an instinct or what others say. 




One important thing that separates rich from poor is that rich people have a long-term in their thinking. This means that poor people buy first and then pay - at high interest rates, while the wealthy invest first and then wait for the return will be. This applies above all to learn from their experiences and to dare to fail. 




Rich and poor also differ regarding their objectives. While the poor are struggling to cope with the day to devote themselves to the rich to draw up grand visions and goals with their lives. The poor often have very modest assumptions about how their lives will be developed, wealthy individuals, however, planning actively to what they want to achieve in life and make sure to have someone who helps them reach their full potential. So make sure to start thinking about what you want to achieve with your life, write down your goals and mapping the help you need 



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