Every trading day green so far in 2015 Start building a sustainable trading business by taking a free trial. Click here for details
6 Ways To Get Rich In 2015 And Beyond
Stop Working for other people
As Dhirubhai Ambani once said “If you don’t build your dream, someone else will hire you to help them build theirs”. If you work for “the man” your likelihood of getting rich is almost nil. Sure you can get in with a great company and eventually earn a nice salary, fly first class here and there and lease a mid range BMW, but if you want to have more than you ever imagined you will have to create your own career. People who fly in private jets don’t punch time clocks.
The real benefit of building your dreams is not just monetary its freedom. Knowing that you wake up every day and get paid to do what you love is priceless.When my brother and I were young my dad would drive us to school each morning and before we would get out of the car he would always say “Go in there and learn something so you dont turn out like me”. My dad is a great man but he made it clear how much he hated his job. His favorite saying to us was ” No amount of money can buy away your regrets”. He made sure we knew that trying and failing was better than living with the burden of not trying and not knowing what could have been. Its no surprise that my brother and I both own our own businesses and since we left High School over 20 years ago, neither one of us has never has a regular job.
Go with longevity business
The number one thing that drew me into stock trading is that I knew the stock market would ALWAYS be here and even in recessionary times or market corrections, providing you knew what you were doing. you could actually make more many than in a normal/bull market.You cant always say that about some business. As technology changes some business will no longer be sustainable. At one time record stores like Tower records and video rentals stores like Blockbuster and one hour photo shops were huge. Sure some have survived but they are a shadow of there former selves. Although some business that will always be around forever,such as real estate, may suffer from down years,its still better to focus on sustainable business models like this rather than get rich quick schemes and short term opportunities.
Get out of debt
No doubt about it debt is a killer and in my opinion the biggest financial mistake you can make. Most credit cards and finance companies are legally robbing your of your entire income and they will do anything and everything to entice you to rack up charges. If you have to pay back $1800 for a $400 TV you bought, you will never have any money…ever. I understand the lure of easy credit. It so easy to buy a new car with no money down, just your signature, or buy that house thats a little over your budget but you have to be disciplined. Remember there are no rich people in debt.
Continue to learn
The single greatest investment you can make is in yourself. Even if you have a business the landscape of that business will change and you will constantly need to educate yourself. When I first started trading stocks there were very few financial blogs, zero social media and hardly any educational videos available online. High frequency trading wasnt a big thing and the market moved at a much slower pace. Now with the influence of Twitter/stock twits, millions of blogs and computer algorithms, the market has changed dramatically. I like everyone else who is still around from 1999 has had to evolve and change. Those who didnt are no longer around. Never become complacent with your learning.
Find a mentor
Every successful person has learned from a mentor or a person they look up to. This person doesn’t have to be in the in same line of business as you are but should be someone who is successful and is willing to share with you what it takes to be a successful professional . Everyone from professional athletes to billion dollar CEO’s have mentors and coaches and you should be no different. The right mentor can also provide emotional and motivational support rather than just some business advice. When it all comes down to it you need a strong support system to help lead you to a higher level.
Stay with it
Even though my brother and I never worked a day for “the man” it wasnt all smooth sailing. We both suffered through several catastrophic business failures and a million sleepless nights before achieving success. In the mid 1990’s my insurance business went under and left me penniless. In early 2000 I bombed out big time in the motorcycle business, leaving me penniless again.In 2001 I grenaded my stock trading account, which left me even more penniless and a psychological mess. To say the road to riches was bumpy is an understatement.
Unless you takeover the families million dollar business or you are a trust fund baby, you will not have it easy. It takes an incredible amount of will and effort to “get there” and it takes even more to stay there. I hate to be such a buzkill but thats just how it is and sometimes the truth hurts. If you intend of becoming rich and staying rich you will have to make an immense amount of sacrifices, gut wrenching decisions and be willing to lay it on the line every day. Its a tall order and not something that is for everyone. This is why most people never succeed, not because they dont have a great idea but because they didn’t expect the road to success was going to be this tough and they are unwilling to do what it takes to see it through. To me its a small price to pay to have the freedom and luxuries you desire . As always the greatest factor is you! If you want it you will pay the price to get it and if not someone will gladly hire you to help them achieve their greatness.
You might enjoy these other posts
Is Emotional Capital The Worst Capital?
How Fast Can You Turn Your Trading Around
5 Huge Losers That Became Successful
What I Learned From Grenadeing My Account
5 Things You Must Do To Be Successful
5 Of The Wealthiest Trades In The World
When you know more you do more.
Here is what we got for you:
[column size=”col-6″] [service_type_2 title=”Live On Screen Day Trading” link=”http://thelincolnlist.com/subscribe-2/” icon=”icon-thumbs-up”]
We teach and you learn in real time. TheLincolnList uses a live screen share format for trade alerts and education. Learn live and thrive with our experienced and profitable team. Click here for a free test drive.
[/service_type_2] [/column]
[column size=”col-6″ last_column=”true”] [service_type_2 title=”Live Swing Trades” link=”http://thelincolnlist.com/lincoln-million/” icon=”icon-thumbs-up”]With the same format and attention to detail as our live day trade room we offer Lincoln Million swing trade.If your game is investing for big gains Lincoln Million is your solution Click here for a free test drive.[/service_type_2][/column]
* TheLincolnList.com website is for educational use only. Any opinions, news, research, analysis, prices, tweets, posts or other information contained on this website or any hosted public/social outlet is provided as general market commentary, and does not constitute as investment advice or a solicitation to buy or sell any security of any type. TheLincolnList.com does not take into account your personal circumstances so please do not trade or invest based solely on this information. By viewing any material or using the information within this site you agree that this is general education material and you will not hold any person or entity responsible for loss or damages resulting from the content or general information provided by TheLincolnList.com
Trading stocks has large potential rewards but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest or trade the financial markets. Don’t trade with money you can’t afford to lose. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in any material on this website. The past performance of any trading system or methodology is not necessarily indicative of future results. For the avoidance of any doubt, TheLincolnList.com does not hold itself as a Trading Adviser (CFP or CFA).Given this representation, all information and material provided by TheLincolnList is for educational purposes only and should not be considered specific investment advice.