become rich

The Ultimate Guide to Becoming Rich


So… be rich. Everyone wants that, but only a few know what you have to do to get it. Getting rich is a combination of luck, skill and patience. You need at least a bit of luck; on this luck one builds with skillful decisions; and then you keep weathering the storm while your wealth grows. We’re not going to lie to you – getting rich isn’t easy – but with a bit of persistence and the right information, it’s definitely possible. That is how it goes.


Invest in stocks.

Invest money in stocks, mutual funds, or other capital goods that give you an annual income big enough for your retirement. For example, if you invested €1 million and reliably get a 7% payout every year, that’s €70,000 a year, minus inflation. Don’t let retailers persuade you to buy a quick euro. Buying or selling dozens of stocks every day is essentially gambling. If you get caught with your pants down – which happens incredibly quickly – you could lose a lot of money. It’s not a good way to get rich. Instead, learn to invest for the long term. Pick good stocks with solid fundamentals and from an excellent company, in sectors where future growth is likely. And then let your shares rest. don’t do anything with it Sit out the ups and downs. If you invest wisely, you should end up with a lot of money.

Save money for your retirement.

Fewer and fewer people are saving for retirement. Whether retirement is a thing of the past or not, you should try to save for your future yourself. Retirement accounts are sometimes tax-free or tax-reduced. If you save enough money in your retirement account, it should provide wealth in old age that you can really enjoy. Do not fully trust the pension insurance. While Social Security is sure to continue to function for the next 20 years, it is increasingly likely that pension insurance will not last long in its current form without major changes. Create a contingency plan in case you can’t count on Social Security. Invest in Riester pension. The Riester pension is a pension account to which working citizens can make an annual contribution. This money is then invested and collects interest. If you wait until retirement to withdraw the money from your retirement account, the money you withdraw will not be taxed. Invest in corporate funds. Many companies make contributions to money you put into funds. It’s like getting money for free. Yes, you can get rich from it.

Invest in real estate.

Relatively stable values ​​such as rental properties or potential building land in a constantly growing area are a good example. These may increase in value over time, but there is no guarantee of this. For example, some people think that an apartment in Munich is almost guaranteed to increase in value in five years.

Invest your time.

You might like your free time, so set aside a few hours each day when you’re not doing anything. If you put those few hours into getting rich, you could have 20 years of free time (24 hours a day!) if you retire early. What can you give up today and get rich later?

Avoid purchases that you are likely to quickly regret.

Spending €50,000 on a car is a waste as in 5 years it will only be worth half that regardless of how well you take care of it. Once you hit the road with a new car, it loses 20-25% of its value per year. This makes buying a car a very important financial decision.

Don’t spend money on nonsense.

It’s hard enough to make a living. But it’s hard “and” hurts when the things you spend your hard-earned money on are financial black holes. Reevaluate the things you spend money on. Try to figure out if they’re really “worth it.” Here are a few things you should spend less money on if you want to get rich: casinos and lottery tickets. The lucky few win money. The others lose it. Vices like cigarettes Crazy expensive things like candy in the cinema or drinks in the club. tanning salons and plastic surgery. You can get skin cancer outside for free if you want. And do nose jobs and botox ever look as promised? Learn how to grow old gracefully. First class airline tickets. What are you spending that extra $1000 on? A hot towel and 10cm more legroom? Invest that money rather than throw it out the window and sit down like everyone else.

Stay rich

It’s hard to get rich, but it’s even harder to stay rich. Your wealth is always influenced by the market, and the market has its ups and downs. If you make yourself too comfortable when times are good, you’ll quickly be thrown back when markets go down. If you get a promotion or a raise, or if your stock fund goes up a percentage point, don’t spend the money. Save it for bad times.

Get rich through a career

Be academically excellent.

Whether it’s a four-year degree or a rhetoric course, some people continue their education after school. Early in a career, employers don’t have much more than education to consider. Better grades usually mean better salaries, although not always.

Choose the right profession.

Study salary research that shows average annual earnings in various jobs. Your chances of getting rich are diminished if you pursue a career in teaching compared to a career in banking. Currently, the highest paying jobs include: doctors and surgeons. Anesthesiologists earn up to €200,000 a year. petroleum engineers. Engineers who work for gas or oil companies earn very well. IN most cases they earn over €135,000 a year. Lawyers. Lawyers make an average of over €130,000 a year, making this a lucrative profession if you can invest the time and work your way up. IT managers and software engineers. If you’re good at programming and a computer genius, you should consider this very well-paying field. IT managers regularly earn €125,000 a year.

Choose the right place to live.

Go where the work is. For example, if you want to get into banking, you have much better chances in big cities than in rural, sparsely populated areas. If you want to be a Hollywood star, go to LA.

Get hired by a company and work your way up the ranks.

Play the numbers game. Apply to many positions and conduct many interviews. When you get your job, stick with it to get the experience you need to level up.

Change jobs and employers.

By changing your environment, you can increase pay, experience different company cultures, and reduce risk. Don’t be afraid to do this more often. If you’re a popular employee, your current company may also offer you a raise if they find out you’re considering leaving.

Reduction in the cost of living

Try it with Extreme Bons.

It’s a great thing when you can get things you need regularly for free. Yes, exactly. If you do it right, you can actually get paid to redeem coupons. At worst, you’ll save a few bucks that you can save for bad times. At best, you’ll get loads of free stuff and get richer in the process.

Buy in bulk packs.

It’s not always the best way to shop, but it’s usually the most effective. If you can get a wholesale membership, it can make real financial sense. In some cases you can find branded products for pennies. If you’re hungry and like to eat chicken, buy 4 pre-cooked chickens at the end of the day. Sometimes the price drops from €5 a piece to €2.50 a piece, meaning you can get at least ten hearty meals for $1 each. Freeze any chicken you won’t eat right away.

Learn to can food.

Up to 40% of food in Germany is wasted before it is eaten. Peaches, blueberries, and even meat can be canned and saved for later consumption. Be wise with the food you buy and actually eat it. Wasted food is wasted money.

Reduce your running costs.

Electricity, gas, and air conditioning can take up a significant chunk of money in your budget if you let them. But you don’t do that, do you? You can keep your house cool in the summer and warm in the winter without air conditioning. You could also invest in solar panels to convert the sun’s natural energy into electricity. Keep your energy needs down and watch the money you save grow and help you get rich.

Have an energy measurement of your house done.

An energy meter shows you how much money is seeping out of your home in the form of wasted energy. Whether it’s cold air in summer or hot air in winter, it’s always a bad thing. You can do an energy measurement yourself if you’re technically inclined, but a professional will take full advantage of the measurement. This costs between 300 and 500 euros, so it is not cheap. At the same time, it’s probably a worthwhile investment if it results in you re-insulating your home and saving $750 every year.

Hunt or gather food.

You’ll likely need to invest in equipment and permits to do this, but if you already have them, it’s an easy way to get your food. If you’re against animal killing for ethical reasons, food can also be easily collected, depending on where you live. However, only collect food of which you know the origin and properties. Getting sick or poisoned is no fun. Hunt deer, ducks or turkeys. Go fishing or learn to fly fish. Choose edible flowers, pick wild mushrooms or harvest fruit in the fall. Start with guerrilla gardeners or build your own greenhouse.

Save money

Pay yourself first.

This means that before you spend your paycheck on a new pair of shoes or a golf club you don’t need, put money in an account you won’t touch. Do this every time you get paid and watch your account grow.

Create a budget.

Create a monthly budget that covers all of your basic expenses and leaves some “fun” money. Don’t spend more than that. Sticking to your budget and setting aside at least a little money each month is one of the surest ways to get rich.

Buy a cheaper car and house.

Can you live in an apartment instead of a house, or in a shared flat instead of your own apartment? Can you buy a used car instead of a new one or use it less? These are all ways to save a ton of money each month.

Look at the ways you spend money to the fullest and drop it all. For example, stop drinking coffee every morning. The €4 you spend on coffee every morning is already €20 a week, or €1040 a year!

Decrease your expenses.

To do this, you need to have good control over them. To do this, take one of the I/O pads that are available on the market and write down every cent that you spend. After about three months you will be able to see where your money is going and how and where you can save something.

Spend your tax return wisely.

In 2007 the average tax return was €2733. That’s a lot of money! You can use that money to pay off debt or create an emergency cushion instead of spending it on something that’s worth half the amount the second you buy it. If you invest just under $3000 wisely, it can be ten times as much in a few years.

Get rid of your credit card.

Did you know that people who shop with credit cards spend more money than people who pay with cash? That’s because it hurts to spend cash. A credit card doesn’t hurt too much. If you can, ditch your credit card and try how it feels to pay with cash. You’ll probably end up saving a lot of money. If you continue to use a credit card, cut back on spending. For example, use a prepaid card and always pay your credit card bill on time to avoid interest.

Become mortgage free

Refinance your mortgage.

Refinance at a lower rate in 15 years instead of 30 years. So you only pay a few hundred euros more, but save several thousand euros in interest. For example, a $200,000 mortgage will cost you another $186,000 in interest over 30 years, so in 30 years you will actually be paying $385,000. On the other hand, if you’re willing to pay a few hundred bucks more, say $300 a month, to refinance a 15-year mortgage, you’ve paid off your mortgage in just 15 years, and the best part is you’re doing it save a whopping 123,700 euros in interest; that’s money in your pocket. So ask a mortgage advisor about your options.


Cook at home and do the chores yourself. Professional services like laundry and housekeeping are expensive. Multiple sources of income secure your financial status better than just one. Write down everything you buy to see where your money is going. Hang out with self-made millionaires. Get all the information you need about rich people, how they made a lot of money, and what they do to maintain their wealth. Nothing is free unless you inherit it and even then you have to manage it wisely or you will lose that too. When you go to bars or clubs sometimes skip this. Go one week and skip the next two. When you go to sleep at night, empty all loose change from your pockets into a jar. This takes time, but in a year you will surely have saved at least €150 in coins. Make a profit from every opportunity. Sell ​​things you no longer use, even the smallest ones. Buy summer or winter clothes on sale. If you take out a new loan, it should be for something that produces income.


About the Author

Karren Brandenburg

Karren Brandenburg is a travel and shopping expert. She has been quoted in Street Insider, Yahoo Finance, Reuters, ABC News, and MarketWatch. Karren has a total of 18 credit cards, using reward points to see the world on a budget.