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Six Best Ways to Become Rich

If you want to accumulate serious wealth then there a number of approaches you can use and some are much more effective than others. The bestways are as follows;

1•Start your own business and eventually sell it _This is the most effective and proven way to become rich. If you can find a new approach to a real customer need and build a profitable business that addresses that need then you have created real value.

2•Join a start up and get stock_ If you can accumulate equity positions in one or more start uo companies then there is an opportunity for a see capital gain if the company thrives and either floats or is sold to a larger enterprise. Only a small minority of start ups succeed in a realising larger capital gains so the odds are not good.

You can use your judgement to see which business idea and which management team are likely to succeed.

3•Exploit your skill as a self employed expert

If you can develop a marketable skill and retain your independence then you can reap considerable rewards. This is how sports stars,authors and entertainers become rich.

In general the self employed expert has greater earnings opportunities than one who works forba company.

There are risks and you have to have something special. Your success is in your own hands so this is a popular route for people who have developed a skill and want to strike outon their own.

4•Develop property _ Buying developing and selling property is a well established way to build a significant capital position. One of the key elements is that by borrowing money you can gain leverage on your investment.

You have to select the right properties in the right areas and develop them widely. You are at risk from booms and busts in the property market. However,in the long term this remains a proven way to accumulate wealth.

5•Build a portfolio of stock and shares _ If you can make steady investments in stocks over a long period and reinvest the dividends then you can build a larger store of wealth. Of course stocks can go down ad well as up and many small investors lose heart when their portfolio plunges.

But over the long term equities are as good an investment as property and much more liquid. Stock market crashes represent great buying opportunities for those with cash and strong nerves.

6•Inherit wealth _It helps if yo were born to be successful or wealth parents but failing that,you could marry fortuitously!

There are more important things in life than accumulating wealth. Who wants to end up rich,unloved,lonely and in poor health?However if you can enjoy life and at the same time become rich why not do so? Plan your route and relish and journey!

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Content created and supplied by: Consy (via Opera News )

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