Live Rich Die Poor - Walter Annenberg
I've read a lot of blogs and always wanted to start one on my own. For months i've been thinking about it and dint find anything that i could write about. Now i thought once i start something i might get some idea and people like you would feed in more inputs to get my blog going.
To start with i would like to share one of the best quotes i've ever heard.
"LIVE RICH, DIE POOR; NEVER MAKE THE MISTAKE OF DOING IT THE OTHER WAY ROUND" - Walter Annenberg
Yes, everyone wants to live rich; wish to have all they want and do all they can. But not many would like to die poor. First lets see how to start living rich before going for the latter part of the quote, because, as far as i've seen, living rich is much more easier than to die poor.
If you think earning money is hard when compared to spending them, I am sure you will have to give it a thought. I can quote several examples who were born poor and at some point of their life became one of the richest people in the whole world. On the other hand there are few people who were rich and enjoying all the luxury, had died poor.
Becoming rich is easy, but its a long process. None can become the richest person overnight (unless there is sweepstake for $50bn and you have the luck to win it). It all starts with your attitude towards life. One needs to spend a lot to become rich. This seems to be absurd, but thats how it is. I dont say that you shouldnt save money for the future. Save money so that when you need it you can spend it for yourself. But never save for your children or for your future generations. If you can become self-made richest person, your child can too. He/She neednt inherit the wealth from you.
First of all to become rich, one needs to be self employed. If you are a salaried employee working under someone, you are not going to get what you want. You cant spend time for yourself. You will not be able to match your ideal schedule. You will always be under some pressure which is nothing to do for your growth. In short you are living someone else's life. On the other hand, if you start business, investments, stocks etc., you can manage your time, you dont have the risk of being fired or laid off, you need not worry about someone else's problems and most of all you can earn big money in much shorter duration.
You must be thinking that to start a business or to invest in stocks one needs a lot of money which you dont have right now. Its a misconception. One can start a business even with a few hundred dollars, sometimes even without a single penny. All you need to do is, research on what you are going to do, which are the areas where you can invest with the little money you have and what is the risk in investing in them. If you can figure out these and if the risk in them is quite manageable, go ahead and invest in them. Initially you might take a few days or months to achieve the break-even. But once you know how to manage a business and started earning a little profit then there is no stopping.
You are all set to be the richest person.