10 Rules for Being Rich: How to Become Rich Today

The Wealth Inequality Gap is Widening

I read a lot of articles and books about getting rich, achieving success, making money and finding happiness.




And you probably do, too… that’s why you are here, right?

To learn the 10 rules for becoming rich.

You’re tired of seeing your paycheck flow in, and then flow right of your hands the next day to pay bills.

It’s painful!

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What You Need to Know to Become Rich

There are common threads in the wealth and income guru’s financial advice.

People who have earned a lot of money have usually experienced the same hurdles in attaining their wealth.

Their path includes: Starting a business, achieving success, pushing the limits, experiencing failure, trying to do too much, and experiencing humiliating failure only to bounce back and learn from the experiences.

The common thread is:

They don’t give up!

 

Rich People Come in All Stripes

  1. The Get-Rich-Quick Lottery Winners
  2. The Save and Don’t Spenders
  3. The Work Harder not Smarter people who are on call 24-7
  4. The Find-a-Niche-and-Exploit-It Gurus (I know a guy who makes 2M a year selling remanufactured auto computers purchased for under $20 and resells for over $350 on average – that’s a heck of a niche)
  5. The Wealth Gurus who were born to be leaders… like Warren Buffet
  6. And, People like you and me who are learning how to make money online

 

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Why Do You Want to be Rich?

Everyone wants to have enough money to pay their bills, to be happy in their daily life, to feel successful in their relationships and at home.

You want to be rich because you think it will solve all your problems.

Having success, money and happiness doesn’t come easily though.

It’s a struggle to make a living.

The fact is that the “income gap” is on the rise, and a lot of financial experts only see this trend continuing – with no end in sight!

 

Why not strive for more financially?

Generally, people are not successful because they choose the path of least resistance.

The phrase no pain, no gain truly means something when it comes to success.

 

Why You Won’t Become Rich

You won’t become rich because you don’t want to move outside of your comfort zone.

You are more afraid of failure than you are motivated to experience success.

You are afraid to leap into the unknown and try something new.

You don’t believe in yourself, and you don’t trust your potential.

And, you give up at the first signs of resistance…

Regardless of what rich people seem to have or seem to have attained easily: those who do have money, success, and an awesome life have usually had to work harder, smarter, and more diligently than those around them.

You simply quit before you even get started making money!

 

To achieve a life of wealth and success, here are 10 rules you can apply today to help you achieve the rich life you deserve:

Rule #10Have a dedicated morning ritual (1) -“What if you could wake up tomorrow and any—or EVERY—area of your life was beginning to transform? What would you change?”

Rule #9Set goals and review them consistently – “Have you ever noticed that some people seem to be able to get an enormous amount of work done in a single day while others struggle with one task? The difference is that people that are able to get a lot of things done know what is involved in getting important things done and they know how to create an action plan to achieve whatever they want to achieve”

Rule #8Take risks (1) – “The idea is simple: your flinch mechanism can save your life. It shortcircuits the conscious mind and allows you to pull back and avoid danger faster than you can even imagine it’s there. But what if danger is exactly what you need?”

Rule #7Invest in yourself – “manage your career as if it were a start-up business: a living, breathing, growing start-up of you.”

Rule #6 – Turn your assets into money by finding ways to improve the value of your business so you can sell it for a profit – get liquid (2)

Rule #5 Invest in the stock market (3) – “Throw away the get-rich quick schemes that never work and turn off the financial news and its constant noise. Whether your dream is protecting your assets in a turbulent market or growing your wealth so that you can retire in style, You can be a successful investor – really.”

pick stocks like warren buffet, how does warren buffett trade stocks

“Finally, someone blows apart the myth that Warren Buffett is a buy-and-hold investor. Altucher has given us an insightful and well-written commentary on how Buffett has amassed his track record, and what we can do to emulate him. He details the trade-by-trade examples. This is a must read for anyone wanting to learn about how the Master Investor works.” -John Mauldin, author, Bull’s Eye Investing editor of Thoughts from the Frontline (www.2000wave.com)

Rule #4Live below your means (4) – “Design a sure-fire plan for paying off all debt—meaning cars, houses, everything – and live below your means.”

Rule #3Reinvest your profits (5) – “Grow your money the smart and easy way – reinvest your dividends.”

Rule #2Be willing to be different (5) – “Create money and allow abundance to naturally flow into your life.”

Rule #1Own your own business (6) – “Tap into more than 30 years of small business expertise as you embark on the most game-changing journey of your life – your new business.”

 

What You Should Do Right Now:

Take a few minutes and look at your life.

Ask yourself these questions:

Am I doing my best?

Am I living up to my potential?

Am I taking the steps needed to bring wealth and success into my life?

I asked myself that recently, and the answer is – I’m not doing everything I can to make more money, to execute business plans, to create habits that lay a foundation for wealth in my life.

My action plan is to start executing a successful routine. Implement a targeted list of ways to improve my business, my blogs and my free time.

My goal in 2014 was to make money from blogging. And, this year, I’m making a decent side income now that can be added to my stock portfolio. An extra $200-300 monthly to add to my Roth IRA.

It takes work to make the money, and uses up a couple of hours a month of my free time…  I don’t watch a lot of tv… I wake up early, and I keep tweaking things to increase my earnings. What started as a niche website about bags has turned into a nice side income.

This is how I plan to get rich… not over night, but over time.

 



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BONUS #11: 

Take this piece of advice from James Altucher to heart, especially if you are trying to earn money with your blog or side hustle already:

Better to just make more with many streams of income so you don’t have to worry about going broke. And then saving will come naturally as you make more money.

Don’t forget that a salary will never make you money. After taxes and the daily grind, and your exhaustion and the feelings of “I hate my job,” and then inflation and then new expenses (kids), you will never be able to save. Avoiding Starbucks every day won’t make you a millionaire, that’s a fact.

I say it glibly, “try to make more money.” I know it’s not that easy. But in the long run, if you have a constant focus on alternative ways to make more money, then you will. – James Altucher

What do you need to change so you can follow a path to financial success?

Take a look at your life and or other areas that you can increase your side income.

Maximize your efforts there.

Keep your day job, focus on learning how to make extra money first then save it, invest it, reinvest it, turn it into a business and sell it.

Set goals, follow through, find focus, and I know the path to more income will open up for you.


Want to make a side hustle with the Amazon Affiliate program, check out my article on 3 people who have started with nothing and make a living with affiliate marketing.


References:

In follow up to the rules above, I recommend reading #5 below from Warren Buffet. 

1) https://www.entrepreneur.com/article/250412

2) http://www.inc.com/john-warrillow/want-to-get-rich-start-by-ignoring-your-mom-s-advice.html

3) http://www.businessinsider.com/most-effective-way-to-get-rich-2015-6

4) http://www.bankrate.com/finance/investing/how-to-become-a-millionaire-in-7-easy-hah-steps-1.aspx

5) http://www.warrenbuffett.com/warren-buffett-10-ways-to-get-rich/