Hey zup!
So in my last post, I talked about how simple and “automatic” it is to get rich in the long term. Naturally, some members started asking, ‘how about the short term?’ My response to that is quite simply YES, it can be done, and it can be easy as well (!), although will not ‘automatically’ happen as I mentioned in my last post.
So, how to do it? I can think of my 7 most interesting ways for now, from low to high risk (just based on my personal opinion):
1) Lowest risk, high investment (tuition+tutoring+time), but easiest to implement: Getting high grades in business school, and getting a huge headstart for a high paying job or for a big pay raise.
2) Low risk, low investment (or can be high investment too, depending on a lot of factors), quite challenging (but also fun!): Thinking of a great and super business idea or startup which can be implemented for very little capital investment. Think: a kick-ass idea for your own website that lots of people might love but that no one else has done; or that no one else has done “in your special style”.
3) Medium risk, high investment: Setting up a franchise branch of a successful brand or chain.
4) Medium-High risk, high investment: Investing in the stock market, looking for “good value” stocks with sound business plans, etc.
5) High risk, low investment: Stock speculation on stocks which might “boom” quickly. Think IPOs, penny stocks (really cheap stocks $5 or less… imagine: if a $1 stock increases by just another dollar to $2, that’s a 100% profit overnight) or microcap stocks (small companies), day-trading, etc., or speculation of other financial instruments such as options, futures, etc. Or creating a good idea but expensive startup using “venture capital” investors.
6) Very high risk, medium to low investment: FOREX speculation and trading using high “leverage”. (Meaning: If you are using 200:1 leverage, you can deposit as little as $5000 with your forex broker, and he’ll allow you to “invest” or trade 200x that amount, or 1 million dollars worth of currency with the click of a mouse!).
7) Ridiculous Risk (but still ‘possible’, haha!), low investment (if you call it that): Winning the lottery, even using a “betting system“.
I’ll be talking more about each of these in my next posts. Any ideas from you? Leave a comment.
Cheers!
David
Disclosure/Disclaimer: This post contains affiliate links with monetary incentive arrangements. Nevertheless, any business or interaction done between my readers and my affiliates are mainly between them and I make no guarantees on my affiliates’ behalf. I am not necessarily endorsing any product/service links which appear in this post.
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