If you want to know how to get rich then I can at least point you in the general direction. I am not exactly rich myself yet but I have little doubt of my future. Of course what you really need to do first is to define what is “rich” and what it means to you.
I am halfway to being rich because I am already making over half of my living expenses from passive income. This is phenomenal and I fully intend to work my tail off until I am making 100 percent of my living expenses from passive income sources. I believe I can be there in less than a year from now and once I reach that point I will have to make a decision. Keep working for 10 bucks an hour or shift over entirely into building my business up further? What I have is not so much a business as it is an income producing asset. It is a money making machine that enables time freedom. Now are you starting to see what I mean by defining the term “rich?”
I know a guy who is vice president of his company and he works very, very hard. He has to travel a lot and he says that he loves his job. Well he may indeed love the job but he works like a dog and it would seem like a vacation to this guy to only put in 40 hours in one week. Well as I mentioned I am making over half of my living expenses from passive sources and I can maintain those passive sources with less than 2 hours of “work” per week. Seriously. It is that passive and in the future I will probably have a small “empire” that I will no longer manage myself but simply hire someone else to do so.
So the question is: what do you want out of life? Do you want the fancy sports car and the 60 to 80 hour per week job and the stress along with it? Or do you want to live a modest life that is filled with time freedom and simple pleasures in which you can devote huge amounts of time to friends and family and not have to work like a dog?
I am choosing the passive income route as I think I can build it up to cover my living expenses and beyond. At some point, once the money grows enough, you truly do become “rich,” because you are making more than you need to live, and you are only putting in an hour or two each week to maintain it.