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See what the Rich did, to becoming Rich, and Successful early in Life.

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Theses days there are lots of ways one can get rich, here are 10 steps to follow to get financially free.

1. Stop Procrastinating

As youths we tendtho believe that timeis on our side but it's not, believing that there's always enough time for everything isnt true. Youngsters often believe that retirement, or wealth building, is something that comes later in life, and are occupied with the concerns of the now. Unfortunately, this leads to them saying "I would do it later" month after month, until before you know it, you're 10 years older and you've missed out on a decade's worth of compounding interest or activities you should have done while you had the time. The first step is to stop procrastinating, because the longer you wait the fewer the Chances you will have.

2. Invest in your skills as a self-employed Expert.

Let it be desire of yours to do something better than anyone. Work on it, train it, learn it, practice, evaluate and refine it. You will notice that sports-players or entertainers are millionaires, and that is because they are utilizing their skills fully. If there’s something you’re good at, it is likely you can reap considerable rewards out of it. It is the same concept of being the top of a particular field. When you are the best at something, you find that opportunities come to you. To be the best invest time money and energy in something that you enjoy and be an expert in it.

3. Try to get about 2 million or a tangible amount of money then invest the rest.

Everyone wants to be a millionaire. But a goal like this isn’t something you can easily achieve in a short period of time. Aim at saving 50K first. The small amounts you save daily is powerful. You might only be able to put away 5k or 10k at a time, but each of these investments are your financial foundation.

4. Think of an opportunity to invent something that can serve a lot of people.

Don't think about the money you want to make , first think about the value you want to add because people will pay for value. The more value you add the more they would pay for it. When you start to serve a lot of people, the effect of word of mouth is magnified – not to mention, you’ll have much more helpful feedback to improve what you do. It would definitely be challenging, but considererd to be a way of serving, to benefit those who actually need your invention or inovation.


5. Buy stocks from a start up.

Buying one or more stocks in a company would be a vary good way to be financially free. This would happen when the company you have socks in is successful.Only a handful of start up succeed but with hard work and dedication you can do it that is how many big companies started. People who invested or worked early in Apple, Google, and Microsoft became millionaires from this concept.


6. Invest in property.

Buying and selling a property has been one of the best way to grow financially.

Borrowing could be a key element in this method. Say you borrow 5 million Naira and put in 4 million Naira of your own to buy a property for 9 million Naira. Then you develop the property and sell it for 15 million Naira. The property has increased in value by 66% but your 4 million Naira has now grown fourfold. You have to select the right properties in the right areas and develop them wisely. You are at risk from the drop in market process but it greatly rewarding when prices go up.

7. Start your own business and then sell it.

There are more and more businesses everyday stating up, you can be one of them if your business is successful, you can keep running with it or sell it when you think it's time. It can be anything, a cleaning business, a food delivery service, or a blog. It will probably take years of very hard work to build up the enterprise. If you want to become wealthier and live a better life, build simple habits that would enable you to accomplish it.


8. Buy stocks and shares in a company.

Stocks is another way to become rich, if you have the heart for it and the money to keep invest until you make profit. But over the long-term, equities are as good an investment as property and much more liquid. Stock market crashes represent great buying opportunities for those with cash and strong nerves.

9. Invest your money wisely.

When inverting do it wisely and it should not be taking lightly as a wrong investment can lead to huge chunk of your assets going down the drain. This also means that when prices go up you will gain a lot of money from that investment you made.

10. Reduce your expenses.

One of the biggest problems that People make is that they spend above their financial means now what this means is that they will always run into debt and there will never be enough money to do anything. To change this you should consistently track your inflow and outflow of cash. Start reducing unecessary spending, invest your money or think of a start up to undertake.

what do you think about these ideas?

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Rich

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