Get Rich, But Not Quick

So you want to be the next Bill Gates, but don’t necessarily want to revolutionize the computer industry in the process? It is absolutely possible to accumulate wealth, and it is absolutely possible to become financially stable and then some. The only problem is that you have to work in order to achieve this kind of financial awesomeness. You may not have to change the computing lives of everyone in the world, but you will absolutely have to work hard to get there. At the backbone of accumulating wealth is being responsible with your money.

There are several easy tips to accumulating wealth. The first and foremost is the obvious – making sure your finances are in check. Always keep the long term in mind, meaning that you need to save your money. Do not spend frivolously and keep every penny nailed down. It is much easier said than done. However, once you are in a position where you can live on your salary and are living comfortably and within your means, you can really jumpstart your wealth. The earlier to take your finances into your own hands, the quicker this whole process can occur.

One of the best things you can do to nail down your pennies is to simply do away with credit card debt. Only spend money you actually have. Wait and save money to buy the things you want to buy instead of risking credit card debt.

Secondly, make use of whatever plans your companies offer, such as a 401k. These kinds of programs are essentially methods to help you save money. These plans take amounts of money out of your salary and put them into an account. If you are not satisfied with your salary or employment, scan the area for alternatives, but do not give up your current job on a whim. In this economy, a job is something one in ten at the moment simply do not have.

The stock market is also a fantastic way of increasing your wealth. However, in today’s economy especially, be sure to diversify your stocks. All this means is that you should not put all of your money into one stock or another asset. Put some in commodities, put some in a stock, or perhaps buy some bonds. The best idea, if you do not understand the stock market, would be to turn to a finance expert for help. Make sure you get second opinions – I’ve heard some crazy market opinions before. Do your best not to believe the TV rumors and sell every ounce of gold you own. The point is, once you free up some of your cash, reinvest it into your own finances to increase your wealth. Make saving money a habit, and spend the dividends on your personal economy.

Building your wealth might seem hard at first, but as long as you save your money and take the time to nail down your finances, the benefits will be unprecedented.

Chris Buchheit

Chris Buchheit

Chris Buchheit was born under the hot Floridian sun during some year in the 1980s. There he studied school matters until moving to North Carolina in 1999. Possibly due to the fact that his mom had enough of him being inside all the time, he quickly got involved in community affairs via the Boy Scouts of America, where he learned the values of citizenship, morality, duty to God and country, and that the biggest kids get to boss around the smaller ones. Chris attained the rank of Eagle Scout in 2004, and still values the rank as one of his proudest achievements. Beginning in 2006, Chris began attending the University of North Carolina at Chapel Hill, where he quickly learned the value of basketball and poplar trees. Since attending UNC, Chris has been double majoring in Asian Studies, with a concentration in Chinese, and Political Science. When he isn’t slaving over his honors thesis, looking up a bunch of Chinese Characters, volunteering, or mindlessly browsing the same websites over and over, Chris enjoys writing short stories and novels. Much to his roommates’ annoyance, he also spends his free time learning to play the guitar. Above all else, though, Chris values God, his family, and his friends. For the future, Chris plans to apply to Georgetown to further his studies in Political Science, hopefully with a concentration on China. Pending acceptance into Georgetown, Chris would like to study while gaining professional experience in a government job in Washington DC.
Chris Buchheit

Latest posts by Chris Buchheit (see all)