3 Time-Tested Ways to Get Rich Now! (Part 2)

How to Get Rich

Jan 17

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Happy New Year!

Based on the terrific feedback we received from Part 1 of this series – How to Get Rich Now – For FREE! – which was spiritual – and a bit of a departure from our normal broadcasting. . .

As my father used to say, “You have to bring the balloons down to earth to really make progress and achieve something.”

So today, we share three time-tested ways to get rich now and next week we’ll reveal steps four, five, and six!

That will pave the way for you to build lifetime wealth.

Let’s get going.

The secret to creating lifetime wealth is to create more free cash flow and more money – cash flow and grow your pile of money.

Not like governments that can seemingly print money out of thin air, but building a pile of money – cold hard cash.

3 Time-Tested Ways to Get Rich Now!

1. View your personal finances as a ‘business’. And structure your financial affairs to make money.

For a moment, let’s look at your personal finances, your ‘personal economy’, as a business.

Businesses sell products and services. The dollar value of what a business sells is called revenue or sales revenue. To the extent a business’s customers pay their bills, the business receives cash. In order to generate those sales (sales revenue), businesses incur expenses – the cost of doing business.

The difference – sales revenue minus expenses – equals profit.

Or, when the expenses exceed the sales revenue, the business loses money. With a loss, there’s typically a cash shortfall.

You can consider your household finances and personal finances the same way.

If your income exceeds your expenses, then you’re on your way to building wealth. The more money you have at the end of the day, the more money you have to invest and the more wealth you can build and the more money you will have for retirement and have to spend.

It’s ‘profit’ or really cash – free cash flow – that you can invest to build wealth and create lifetime wealth and ultimately spend.

2. Increase Your Income.

One of the wealth-building engines you have is increasing your income.

Get more education to increase your skills. So you can add more value to your employer and make more money.
You could work overtime and earn overtime pay.
You could take on more responsibility and earn extra money.
You could get a raise or salary increase.
Earn a bonus, a merit bonus based on performance.
You could earn commissions on sales if you sell your company’s products and services. I worked at one consulting company that paid sales commissions to any employee that brought in new business for the company. Nice.
You could negotiate with your boss / company for expense reimbursement. One example is if your company pays the cost of your monthly cell phone service. In addition, perhaps you could agree that your company will reimburse you for business expenses, for example travel and entertainment.
While I do believe in focusing on your primary job – your day job – you could get a side hustle or start a business.

3. Reduce Your Expenses. Reduce Your Spending.

Paying expenses means cash flows out of your pockets, out of your bank account into someone else’s pocket.

And reduces the amount of money you have available to invest to build wealth.

To create more free cash, cut your expenses. In particular, eliminate waste – wasteful spending.

To discover more ways to save more money and create more free cash, click here.

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These three steps will increase your cash flow and create more money for investment. Money that you can invest to build wealth.

When you implement these wealth-building techniques, you’ll create more cash flow and more money for investment, with more free cash in hand and investing wisely, you’ll accumulate more and more money over time and enjoy lifetime wealth.

Enjoy the ride!

See you next week when we reveal wealth-building steps four, five, and six.

Arthur V.

P.S. To Save More Money and Create More Free Cash, click here.

Disclaimer: OH and Please Remember, we are Not financial advisors, financial planners, attorneys or accountants and are Not providing any specific financial, tax or legal advice here. Be sure to conduct your own due diligence and consult your own professional advisors to get sound professional advice that’s specific to your financial and personal circumstances, risk tolerance, time horizon and investment goals and objectives among other key factors!