# How to become truly wealthy (I recommend this for everyone)



## LibertyPrime (Dec 17, 2010)

Ok, here we go. Sit down, open your mind & listen to the following audio book. Internalize it & you will understand, especially anyone who has worked a day in his life for crap pay.


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## PowerShell (Feb 3, 2013)

There are some good points in the book but I wouldn't treat it as the "bible" of becoming wealthy. Remember this guy did take too many risks and was living out of his car for a while because of it.


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## Grandmaster Yoda (Jan 18, 2014)

My plan is to buy an extremely small house with wifi then let my income pile up over time.


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## 7rr7s (Jun 6, 2011)

@FreeBeer while the general advice is good, he recommends some risky stuff in there like insider trading which is illegal. Check out this too, which points to him being a scam artist. 

Robert Kiyosaki Is A Scam? Yes He Is In My Opinion. - Ethan Vanderbuilt


He is right about the multiple lines of income though and making your money work for you. 

I would add this:
*
Learn how to trade the markets*

Start with the stock market, specifically trading options as that minimizes your risk since you aren't trading actual stocks and you're only out the money you bought the trade at. 

Once you are comfortable trading stocks and trading options, move on to the Forex, or the foreign exchange. Basically, currency trading which allows you the maximum leverage and allows you to trade 24/7 pretty much since you can trade the Europea and Asian markets while the US is sleeping, and vice versa. 

*Learn how to invest.*

Learn from what happened in 2008 when all those people lost their investments because they trusted someone else to do it for them. Learn how to do it yourself so you don't lose it all if another crash happens. Gold and Silver are great, Silver especially since it's not only a precious metal, but also a commodity and used in different things. The Silver market is experiencing some good things, and the price is actually pretty low compared to gold, although it follows gold pretty good and in some cases outperforms gold. Silver is experiencing a once in a generation point in where it's at right now. 

Also, look into compound interest. 

Another great starting point with making your money work for you is Dogs of the Dow. 

Dogs of the Dow - www.dogsofthedow.com

*Invest In Real Estate. *

You need no startup money to get into real estate, you just have to know what you're doing. Look into what they call Finder's Fees. Also, pick good prospects that will continue to make you money. Some great options are Billboards and commercial real estate. Billboards especially, since there's relatively low maintenance as compared to say a couple of houses. Mobile Park Homes, condominiums, apartment complexes are also good options as you have multiple tenets bringing in multiple lines of income. 




ALSO, 

Make sure you protect your assets. You don't need someone suing you and taking all of your money, houses, luxury items like boats, planes, cars, ect. Make sure your assets are protected once you are making solid capital. 











BEFORE YOU DO ANY OF THIS THOUGH, 
*
INVEST IN YOUR EDUCATION. *

You can and will lose money if you try doing all of that without know what you are doing. Don't do that, invest in your education so you know what to do BEFORE you start putting your money on the line.


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## 7rr7s (Jun 6, 2011)

Grandmaster Yoda said:


> My plan is to buy an extremely small house with wifi then let my income pile up over time.


Loll that's basically what Warren Buffet did.


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## Kevin De Smet (Nov 26, 2013)

And what would I do with endless trunks of money? Buy a big mansion and a fancy car? Who cares... As long as I have enough to live, with some creature comforts, then I'm happy on the money front.


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## LibertyPrime (Dec 17, 2010)

Kevin De Smet said:


> And what would I do with endless trunks of money? Buy a big mansion and a fancy car? Who cares... As long as I have enough to live, with some creature comforts, then I'm happy on the money front.


*The* point & *goal would be freedom*. If you can amass sufficient assets that produce more wealth then you spend per month & you can maintain those, then you basically create *time*, which means the freedom to live, not just exist. With free time one can do what one wants. Want to write a book, invent something, figure out a cure for x? You have time for that now. Its about balancing assets & liabilities, living within your means.

For me at least it isn't about making more and more money, but about making just enough to live well & have free time to enjoy it. Its like gambling, you need the self discipline to know when enough is enough.

This ofc implies one knows how to self manage, what happiness really is & how not to accumulate more & more liabilities. Don't be greedy.

Its like what @KindOfBlue06 said. Thx for the links btw!

For me at least free time is more valuable then a lot of things, however I have rather limited needs, such as a roof over my head, my tools that enable my hobbies, other basic needs, means of communicating like a computer or phone & very few other people I call friends. Stuff such as yahts, cars & partying doesn't even interest me. Others may be different.


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## Kevin De Smet (Nov 26, 2013)

I can't do things on my own that would ever live up to my expecations, so I need to work together with other people. For me then the work place seems like a natural environment to do it and I don't need free time to invent things on my own. I can't anyway. Maybe ENTPs would enjoy this concept?

And building networks? What do I look like, a greasy slob? I hate those people who continually rub elbows with their managers and get ahead that way. They're the reason corporations go bad.


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## 7rr7s (Jun 6, 2011)

FreeBeer said:


> *The* point & *goal would be freedom*. If you can amass sufficient assets that produce more wealth then you spend per month & you can maintain those, then you basically create *time*, which means the freedom to live, not just exist. With free time one can do what one wants. Want to write a book, invent something, figure out a cure for x? You have time for that now. Its about balancing assets & liabilities, living within your means.
> 
> For me at least it isn't about making more and more money, but about making just enough to live well & have free time to enjoy it. Its like gambling, you need the self discipline to know when enough is enough.
> 
> ...


Yeah for sure man. Time is the most valuable commodity. That's another thing that wealthy people are very aware of and very selfish with, their time. They don't waste time because they know how valuable it is. You can never buy back lost time no matter how much money you make. 

I agree about the freedom part too. You are your own boss, in control of your own destiny, and have the maximum amount of freedom possible. The other thing is it's more than just freedom. At least to me, it's about creating a legacy. 

Making sure that my parents don't die in some shitty nursing home, making sure that they never have to worry about whether or not they can afford their medication. Making sure that I can treat my wife to the wedding of her dreams, buy her a nice ring, have a great honeymoon. Making sure my kids have the best education and the best opportunity to be successful in a world that is increasingly competitive and hostile. 

Having the freedom to donate to charities and help people less fortunate without worrying about when my next paycheck will come or if I can afford it. Being able to set up charities and make a lasting impact after I'm gone. Helping to mentor others so they can take themselves out of the rat race and create their own lives and their own wealth. 

Being able to leave a $100 tip for a minimum wage worker during Christmas. Being able to help out a family member if they are going through a rough time financially. Helping to build up my community and my country. 

It's more than just getting rich and partying on a yacht all day, although I would do plenty of that and my tastes are quite lavish. Paying it forward, not by the government overtaxing me and squandering my money, but by putting it to good use myself in a way that is socially responsible, as well as using it to better my family and community. 


THAT is the kind of freedom that wealth offers.


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## cityofcircuits (Nov 8, 2010)

KindOfBlue06 said:


> Yeah for sure man. Time is the most valuable commodity. That's another thing that wealthy people are very aware of and very selfish with, their time. They don't waste time because they know how valuable it is. You can never buy back lost time no matter how much money you make.


Have you ever read Seneca's _'On The Shortness of Life'_?

Based on what you said, I feel you may enjoy the read.

I'll post just one quote,

“People are frugal in guarding their personal property; but as soon as it comes to squandering time they are most wasteful of the one thing in which it is right to be stingy.”

As far as wealth, whether gained or lost, I hope that I may be of the same disposition and tranquil mind. 
That I may not be overly excited of great gains or suffer depression over great loss.


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## 7rr7s (Jun 6, 2011)

cityofcircuits said:


> Have you ever read Seneca's _'On The Shortness of Life'_?
> 
> Based on what you said, I feel you may enjoy the read.
> 
> ...


Thanks, I will definitely check that book out! And that's a great mindset to have too. .


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## LibertyPrime (Dec 17, 2010)

KindOfBlue06 said:


> Thanks, I will definitely check that book out! And that's a great mindset to have too. .







@cityofcircuits Ty very much. Someone on these forums has already linked this to me however >.> hmm...unsure, was it you?


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## cityofcircuits (Nov 8, 2010)

FreeBeer said:


> @cityofcircuits Ty very much. Someone on these forums has already linked this to me however >.> hmm...unsure, was it you?


Haha it may have been me....maybe I'm espousing or evangelizing Seneca a bit too much lol but it seems appropriate in certain contexts :tongue:


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## Modal Soul (Jun 16, 2013)

ha as if rich people would ever tell us their secrets


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## Glory (Sep 28, 2013)

There's an old saying that Kublai Khan or Genghis Khan used to say to his enemies before he slaughtered 'em. And he didn't just kill some of 'em, he killed 'em all! The dogs, the cats, the women, the children... even the old people. And he said: if YOU HAD NOT COMMITTED SUCH HORRIBLE SINS, GOD would not have brought such a horrible punishment, such as me.


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## aendern (Dec 28, 2013)

Grandmaster Yoda said:


> My plan is to buy an extremely small house with wifi then let my income pile up over time.


Literally same. I so rarely spend money that it will just be so easy.


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## Desolan (Nov 14, 2011)

Grandmaster Yoda said:


> My plan is to buy an extremely small house with wifi then let my income pile up over time.


I've been doing this for the past 7 years or so and almost have the house paid for but it's going to be time to move on soon, my hobbies are outgrowing it.



Kevin De Smet said:


> And what would I do with endless trunks of money? Buy a big mansion and a fancy car? Who cares... As long as I have enough to live, with some creature comforts, then I'm happy on the money front.


I'd love a bunch of extra money so that I can pay someone to develop my ideas for me. 
Book Ideas -> Hey you! Finish writing this book for me, then we'll publish it. I'll give you money
Game Ideas -> Hey you! Build me a game that does this and works like this. I'll give you money
Business Ideas -> Hey you! Go do these things to start this business for me, and then manage it. I'll give you money
Invention Ideas -> Hey you! Isn't this thing I have drawn and designed here cool? Go build it for me. I'll give you money
Political change Ideas -> Hey you! Society is stupid because of this law. Go change it. I'll give you money

Sure personal comforts and status aren't huge on my list of things to do with money but if I could see some of my ideas developed with minimal effort and detailed input from me, I think it would be great.


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## stiletto (Oct 26, 2013)

I think the only rule is: It takes money to make money.


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## PowerShell (Feb 3, 2013)

stiletto said:


> I think the only rule is: It takes money to make money.


No with certain things thanks to the internet.


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## StranGaaa Danjjja (Jan 6, 2015)

if you have no real talent or skill it usually takes money to make money or items of relevant value

i wish every one stop stealing my monies i could do so much with so little


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