4 answers
Hunter
Student
Van Buren, Arkansas
1
Question
Asked
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What do i need to be rich at a young age?
I want money alot of it. I wanna live life to the fullest and get the most money possible. Willing to do just bout anything.
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4 answers
Scott M
Entrepreneur | Senior Sales Executive
38
Answers
Boston, Massachusetts
Updated
Scott’s Answer
In my humble opinion:
Becoming rich is a multifaceted process that involves both hard work and a long-term perspective. However, it's important to remember that being rich is different for everyone and that there is no one-size-fits-all approach to achieving financial success.
One book that I highly recommend reading to gain insights on building wealth is "Rich Dad Poor Dad" by Robert Kiyosaki. This book provides a unique perspective on how to build wealth through passive income and investing in assets that generate consistent cash flow. As Robert Kiyosaki says, "Mind Your Business," which means investing in your education and personal development to increase your earning potential and build a strong foundation for your financial future.
Acquiring knowledge and skills is a crucial aspect of building wealth. It's important to invest in your education and personal development, and to learn from real-world experiences and mistakes. By taking risks and learning from failures, you can gain valuable insights and knowledge that will help you make better decisions in the future.
Building wealth often requires a mechanical, slow, and sometimes even boring approach. This means putting in the time and effort to save money, invest wisely, and consistently work towards your financial goals. However, the ultimate goal of building wealth is not just to accumulate money, but rather to have your money work for you through generating passive income.
Investing in assets that generate consistent and reliable income streams over time is key to achieving financial freedom. This can come from a variety of sources, including real estate, stocks, bonds, and other investments. By focusing on cash flow and gradually building up your passive income streams, you can eventually reach a point where you no longer have to actively work to earn a living.
Ultimately, becoming rich requires a combination of hard work, discipline, and smart choices. By understanding what being rich means to you personally, acquiring knowledge and skills, and focusing on building assets that generate passive income, you can achieve financial freedom and live the life you've always dreamed of. It's important to keep in mind that success is not always a straight line and that real-world experiences and mistakes forge the path to success. By staying focused on your goals, learning from your experiences, and persevering through challenges, you can overcome obstacles and achieve your dreams.
"Building wealth is like building a house. You need a strong foundation of knowledge and discipline, a blueprint of smart choices, and the patience to lay each brick carefully. With time, effort, and a clear vision, you can build a financial future that stands the test of time."
Becoming rich is a multifaceted process that involves both hard work and a long-term perspective. However, it's important to remember that being rich is different for everyone and that there is no one-size-fits-all approach to achieving financial success.
One book that I highly recommend reading to gain insights on building wealth is "Rich Dad Poor Dad" by Robert Kiyosaki. This book provides a unique perspective on how to build wealth through passive income and investing in assets that generate consistent cash flow. As Robert Kiyosaki says, "Mind Your Business," which means investing in your education and personal development to increase your earning potential and build a strong foundation for your financial future.
Acquiring knowledge and skills is a crucial aspect of building wealth. It's important to invest in your education and personal development, and to learn from real-world experiences and mistakes. By taking risks and learning from failures, you can gain valuable insights and knowledge that will help you make better decisions in the future.
Building wealth often requires a mechanical, slow, and sometimes even boring approach. This means putting in the time and effort to save money, invest wisely, and consistently work towards your financial goals. However, the ultimate goal of building wealth is not just to accumulate money, but rather to have your money work for you through generating passive income.
Investing in assets that generate consistent and reliable income streams over time is key to achieving financial freedom. This can come from a variety of sources, including real estate, stocks, bonds, and other investments. By focusing on cash flow and gradually building up your passive income streams, you can eventually reach a point where you no longer have to actively work to earn a living.
Ultimately, becoming rich requires a combination of hard work, discipline, and smart choices. By understanding what being rich means to you personally, acquiring knowledge and skills, and focusing on building assets that generate passive income, you can achieve financial freedom and live the life you've always dreamed of. It's important to keep in mind that success is not always a straight line and that real-world experiences and mistakes forge the path to success. By staying focused on your goals, learning from your experiences, and persevering through challenges, you can overcome obstacles and achieve your dreams.
"Building wealth is like building a house. You need a strong foundation of knowledge and discipline, a blueprint of smart choices, and the patience to lay each brick carefully. With time, effort, and a clear vision, you can build a financial future that stands the test of time."
T.J. Worthy
Mentor
202
Answers
Ypsilanti, Michigan
Updated
T.J.’s Answer
Hello Hunter!
Some people define rich in terms of money (and there's three main categories of rich I would use: Bezos/Musk/Gates rich, Celebrity rich, and Engineer/Doctor rich).
Then, some people say that their lives are rich, because their lives provide meaningful, happy experiences.
There are degrees that can help you make a solid amount of money.
A financial YouTuber, Shane Hummus, provided a list of degrees that millionaires commonly have here too:
https://www.youtube.com/watch?v=X05MTkeDCvo
He also released another good video about the best degrees here: https://www.youtube.com/watch?v=SU8NSkuBkb0
Consider some of the majors & fields from his lists!
Also, Consider this:
Being a millionaire is not a simple as picking the right degree -- and --
Having a billion dollars will not necessarily make you happy.
Shane Hummus, made a good point about this in a video I suggest watching here:
https://youtu.be/X05MTkeDCvo?t=603
A lot of rich people (on top of their degree, if they have one), have a combination of networking and entrepreneurial skills under their belt.
These skills are best developed through practice --- and mastered by making risky and good decisions over your life.
Ultimately - Define what rich really means to you.
- How rich do you want to be?
- Why do you want to be rich?
- What are some ways I can develop knowledge around money, finance, and stocks while pursuing a degree?
Wishing you the best as you build your wealth : )
Some people define rich in terms of money (and there's three main categories of rich I would use: Bezos/Musk/Gates rich, Celebrity rich, and Engineer/Doctor rich).
Then, some people say that their lives are rich, because their lives provide meaningful, happy experiences.
There are degrees that can help you make a solid amount of money.
A financial YouTuber, Shane Hummus, provided a list of degrees that millionaires commonly have here too:
https://www.youtube.com/watch?v=X05MTkeDCvo
He also released another good video about the best degrees here: https://www.youtube.com/watch?v=SU8NSkuBkb0
Consider some of the majors & fields from his lists!
Also, Consider this:
Being a millionaire is not a simple as picking the right degree -- and --
Having a billion dollars will not necessarily make you happy.
Shane Hummus, made a good point about this in a video I suggest watching here:
https://youtu.be/X05MTkeDCvo?t=603
A lot of rich people (on top of their degree, if they have one), have a combination of networking and entrepreneurial skills under their belt.
These skills are best developed through practice --- and mastered by making risky and good decisions over your life.
Ultimately - Define what rich really means to you.
- How rich do you want to be?
- Why do you want to be rich?
- What are some ways I can develop knowledge around money, finance, and stocks while pursuing a degree?
Wishing you the best as you build your wealth : )
Prajwal S
20
Answers
St. Louis, MO
Updated
Prajwal’s Answer
Get into Stock Market Trading, Learn before you get into it.
david kirk
Retired Computing Manager
478
Answers
Syracuse, New York
Updated
david’s Answer
Hello, Hunter,
Your best bet to become that wealthy is to get an education that will prepare you to become a hedge fund manager. You will probably need to spend ten years as a stockbroker to earn enough to form your fund, but by the time you're forty, you could be a billionaire. Lots of work, plenty of risk, but the payoff is high. And you will not get rich at a young age without being willing to take significant risks. Good luck to you.
Your best bet to become that wealthy is to get an education that will prepare you to become a hedge fund manager. You will probably need to spend ten years as a stockbroker to earn enough to form your fund, but by the time you're forty, you could be a billionaire. Lots of work, plenty of risk, but the payoff is high. And you will not get rich at a young age without being willing to take significant risks. Good luck to you.