Posted by Maneesh Sethi :: August 29, 2007 @ 11:19 amIf you don't know the answer by now, don't forget this. The answer is “none of them.” If there were a simple get rich quick scheme, everyone would be rich by now. Unless you have some super-sized inheritance coming (and you're willing to help "expedite" its arrival), there is no surefire way to get rich quickly.
Getting rich and amassing wealth is similar to losing weight: everyone knows how to do it, but most people aren't willing to put in the required effort. To lose weight, you need to exercise more and eat less. To get rich, you need to save money and invest it safely. Simple and easy.
As I wrote in my article about the rule of 72, your money will quickly grow as soon as you begin investing in decent funds. Index funds are a great way to get started, as are stocks. Putting your money in a retirement account will help minimize the taxes you pay as well. Read up on some of this here.
Practice makes perfect, so by investing your money every month, it will very quickly become a habit. And it will be strengthened when you see how quickly you are amassing wealth!
Take the first step. Open up an IRA and buy some index funds. Or, open up a Lending Club account and lend some money. You'll be surprised how little time it takes to become financially savvy.
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