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If there is one question most regular people often have in mind, it would be “How to get rich?”. Everybody wants to get rich and we’re here to tell you that it’s absolutely possible!
Not overnight. Not within a month or two. But gradually…by using the right methods and techniques, everyone can get rich!
We need to get one thing perfectly clear right from the start: there are absolutely no shortcuts or “cheats” to get rich quick overnight.
People saying that are trying to scam you. But it doesn’t mean that it’s not possible to grow your wealth over time…
The best thing? All of these methods and systems are accessible to everybody. You, me, our neighbors – literally anyone can become wealthy.
In this article, we are going to cover some of the techniques you can use to build your wealth and get rich. You won’t find any answers to getting rich quick, but rather insights for becoming rich, the right way, for the rest of your life.
The Triangle Model of Building Wealth and How to Get Rich
For anyone looking for an answer on how to be rich, there are three things you must do to build your wealth. We call it the Triangle Model:
You will see that the following methods of wealth creation and accumulation correspond to each element of the Triangle Model:
1. Get amazingly good at what you do
You have to commit to becoming so good at what you do that people can’t ignore you. Why? Because when you become really, really good at whatever industry and function you are now in, you reap better rewards than those who perform at average level.
There are various ways to hone your skills. Commit to it and keep upgrading yourself. As you become better at your profession, your income will increase. This relates directly to the Income Creation aspect of The Triangle Model. If you are in the right industry, your sole answer to how to get rich might even be this!
The higher your income, the more you can invest, save and make your money work for you.
2. Create multiple income streams
Did you know that an average millionaire has more than five income streams? This is always a wise decision as you will not have all your eggs in one basket.
By creating multiple income streams, not only are you going to increase your income, you’ll also create a better safety net by having redundancies to rely on. You never know when one income source will dry up!
Oh and make sure that at least one of the income streams you create is passive income (also known as making money while you sleep).
3. Find the right job
It is not enough just to become really good at what you do; you also have to find the right job in the right company.
Even if you are wizard-level great at what you do, it doesn’t matter if you’re in a company with limited opportunities. Don’t be afraid to always be looking for opportunities, and when you find the right job, jump straight to the deep end and don’t look back.
4. Invest in yourself
The most important investment you will ever make in your life is in yourself, according to Warren Buffet. How true!
Always be investing in yourself by reading books, acquiring new knowledge and honing your skills. Be sure to expand your horizon by studying things that are outside of your industry and function too.
This way, you will become better at not just what you do, but also in creating connections between different disciplines in unconventional ways.
5. Make your money work for you
If you want to get rich, then you cannot just work for money. You will have to make your money work for you. How? One of the most critical components of getting rich is investing.
There are various investment instruments. For American citizens, a 401k is a good start, as are good index funds. If you can tolerate high risk, high reward type of scenarios, then you can dedicate a portion (we recommend not more than 15%) of your income to something like cryptocurrency, which we discuss later on in this article.
6. Use one of the top income methods to get rich
Now that we have covered several aspects of wealth building and accumulation, it is time to discuss the top methods to create income.
As saving and investing are critical to multiply your wealth, you will first need to create and increase your income in order to have sufficient money. Why? Because the more money you put in investments and savings, the better it will multiply!
Using these proven methods, you will be able to
increase your income gradually.
Freelancing – Work anywhere, on your terms
As the trend of working from home is increasing, freelancing is one of the most popular choices for people that want to build their wealth. The best thing about freelancing is that you have flexible hours and it is a perfect way to build additional income streams.
There are gigs for everybody, be it a graphic designer or a content writer. Working as a freelancer, people can showcase their various skills and learn new ones alongside.
People are opting for freelancing because you can work from anywhere, including your own home. Contrary to popular belief and Internet images that freelancers seem to be working from beaches, you can still be productive by freelancing and earning money from home.
Online Jobs – Security with flexibility
Remember when we mentioned how important it is to find the right job in order to build and grow your income? The good news here is you don’t really have to limit yourself to jobs that you can only do in an office.
A lot of companies are now embracing remote work or online jobs. One simple reason behind this is because talented people are everywhere, and the landscape of work is changing. Thanks to the Internet and all the new digital tools, you don’t need to be working from an office, or a few feet away from your co-workers to get things done. Why? Because now, you can simply work online.
If you look just on Indeed.com alone, you will see over 20,000 legitimate online jobs available!.
YouTube – The most fun answer to how to get rich
Would you believe that YouTube is the world’s second largest search engine after Google? It caters to over 3 billion searches a month. There are so many videos on product reviews, Vlogs, brand videos and more. Considering all the available opportunities for monetisation, YouTube is definitely among the most fun and interesting ways of how to get rich.
There are multiple ways in which you can make money on YouTube. For example, you can become a vlogger and work with brands as an influencer. Or, you can review products and make money using affiliate marketing.
You don’t even need to spend thousands of dollars to buy a new camera. Instead, you can shoot videos and just make money with your smartphone. Since it is that easy, all you have to do is to have some discipline and make sure your productivity is constant. After all, you can’t just expect to get rich quick after creating a couple videos.
Instagram – Become an Influencer
Had a good dessert? Went on a long vacation? Partied with friends? You will find people updating all their stories and experiences on Instagram…and the best part is that other people are actually interested in seeing the good lives of others!
Brands are capitalising on this now and there’s a lot of money to be made on the platform.
As you build your profile and get more and more followers, the money making on Instagram will come naturally. You can work as a marketer and help people promote their profiles. Or you can work with brands and create Instagram content to promote their products.
Brands pay crazy amounts for influencers, ranging anywhere from a few hundred to thousands of dollars. You can even start your own eCommerce store and sell your products on Instagram.
Blogging – Build yourself an asset
If you are good with words and love to express your ideas, blogging could be your answer to how to get rich. As easy as it might sound, being able to blog successfully is both an art and science. You can actually build a solid business and make money with a blog, but it takes time, patience and dedication.
Blogs act as a medium for your knowledge, expertise and life. Setting up and starting with a blog is quite easy and takes no time! However, once set, you need to be regularly posting to ensure that you don’t lose the interest of your readers.
Also, rather than blogging about what you have had for breakfast this morning (unless you are building a food blog as an aspiring chef), you should pick a niche and publish useful content for your audience.
How to get rich by blogging then? There are multiple ways to earn money on a website: you can become a paid blogger for a huge brand. Content marketing is a powerful marketing tool and pretty much every brand needs it. However, in the longer term, consider building up on your own blog and create your own income-generating asset, like an online course, ebook, or something similar.
Cryptocurrency – 1000X gains possible
Need an answer to how to get rich while sitting at home? Learning how to make money with cryptocurrency might be the answer for you. You could build a fortune for yourself by investing your money into various blockchain technologies!
Get yourself familiar with how to invest in cryptocurrency and how to use a crypto wallet, and you are off to a good start! Learn all the basics of how the crypto market works and get started.
We advise you to begin by investing in smaller amounts and once you have a hang of it and are confident enough: take a bigger leap.
Conclusion: Know that getting rich isn’t just one thing you do...
All you have to do is to have discipline and start working towards your goals.