11 roads that will lead you to wealth and riches
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The term, “being rich,” elicits many and varied responses among individuals the world over. This is because it means different things to different people. To some having a Million dollars is their point of true riches, while to others it’s a billion dollars. Being rich is thus relative, but all do agree that it’s a level where one possesses a significant amount of resources.
Becoming a rich person is perhaps the biggest dilemma most people are facing today. Many people are asking the question how to change their status from poverty to plenty, and lack to abundance. They seek for a “way,” “a route/road,” that they can follow to get to their wealthy place.
Credit must be given to Kenneth Fisher, Multi-billionaire and author of the book, “10 Roads to Riches“. Ken put forward ten different roads anyone can follow to become rich in America. Click on the image to get your copy of Ken’s book. I discovered an additional road in my research so I’m providing you with 11 roads. These roads include:
Road 1 – Build/Found a successful business
This is clearly the best route if you desire to amass wealth in billions. Most of the people at the apex of the Forbes list of billionaires started with an idea. From there they went on to build huge income generating ventures. The challenge is to come up with a winning idea. Or, at least a significant improvement on an existing one that solves problems and creates value for people. Many opportunities to build wealth this way still abound.
Road 2 – Climb the Corporate Ladder to become CEO or Director in a top company
We may not all be blessed like the founders on Road 1. However all top companies require trusted senior management staff to help manage them. Compensation packages for those employed at this level is quite handsome. It comes with many perks – big allowances, bonuses and profit sharing in addition to a huge salary. While this road may not make you billions you can easily play in the tens to hundreds of millions terrain.
Road 3 – Cater to the spiritual needs of a number of people
All religions have someone at the pinnacle responsible for helping members improve their spiritual and total well-being. These leaders or Shepherds support their followers with prayers, advice, counseling etc. Many members may use their resources to “cater” to the non-spiritual needs of their Shepherd in return. Moreso when they are getting the desired results in their lives. This is why many religious leaders are rich, affluent and influential.
Road 4 – Marry a person of wealth
This route might seem like it’s easy but I can assure you that it’s not. It requires painstaking search to find, woo and convince a rich person to tie the knot with you. Some people have been successful doing this. They hang out with the rich and promote themselves as a good life partner. In most cases you may not be in charge of the wealth. Being a rich person’s spouse guarantees a life of riches and luxury.
Road 5 – Run for Political Office
Politicians have access to make a lot of money, legally and illegally. It is criminal to help oneself to funds meant for the commonwealth. Political office holders – Representatives, Senators, Governors and the President are normally entitled to jumbo pay packages. Some even get a life pension just for being in office. Politicians have extensive contacts, and are always in demand to persuade succeeding governments. They may get other appointments into government and private sector boards even after their tenure expires. In developed countries top politicians earn substantial incomes writing books and from speaking engagements.
Road 6 – Build a Successful Practice
This road is the preserve of highly skilled professionals such as lawyers, doctors and other medical personnel. Their endeavors do not fall under business rather it’s a practice. These professionals can go on to manage hospitals/law firms with many clients thus building substantial wealth for themselves.
Road 7 – Wealth building via the active use of your talents
Here are those who use their God given talents in sports, arts and entertainment in exchange for substantial incomes. Athletes, Musicians, Actors and their ilk become rich honing their craft and using their skills to succeed in their pursuits. For example many professional athletes may sign contracts worth millions of dollars in their sport. These earners are usually high profile because they are under the spotlight and constitute the rich and famous. However their earning capacity is for a limited period. They must explore other roads or they could end up poor in their later years.
Road 8 – Invest in Real Estate
Providing real estate at the medium to large scale level is a money spinner in most climes. A huge housing deficit exists in many countries and many see owning a home as an asset. A substantial capital outlay to fund housing projects is required but the returns are quite handsome. Focus should be on providing housing for the middle to upper class in society.
Road 9 – Leading Labour Unions/Activism
Don’t let labour leaders and their rhetoric fool you. I have searched and can hardly find any labour leader who has not amassed reasonable wealth for themselves. They earn a handsome income agitating for the rights of the people. In fact top activists are a lot like politicians, developing substantial contacts/connections and receive reasonable compensation for their efforts.
Road 10 – Savings and Investment
High salary earners can save a substantial amount of their incomes and invest these earnings into various profitable investment vehicles. These can yield a healthy rate of returns. The amount invested has to be retained for the returns to be substantial . In order for it to grow the returns must be ploughed back.
Road 11 – Creating Inventions
Creators of innovative products that are patented can actually create wealth provided the marketplace accepts their idea. A successful inventor can create a future income stream from just one creative spark of genius.
It’s also important to note that people who amass wealth travel on various roads to get there. For example those using their God given talents (Road 7) could invent something (Road 11). They could delve into politics (Road 5) or found a business (Road 1). It all depends on the individual.
Some additional recommended reading from Ken Fisher includes, “How to smell a rat: the five signs of financial fraud“. In this book Ken teaches you how to spot financial disasters before you become part of them. It’s essentially full of practical insights and advice on how to avoid fraudsters. Click on the image to get your copy of this book as well.
There are many roads to wealth. What is key is that you start today to begin the journey if you haven’t done so already. Don’t let anything or anyone hold you back from travelling down one of these roads and creating wealth for yourself.