What’s the best way to get rich quickly?
Make MORE money.
Duh right? But maybe not so. Because it really does seem like people get really hung up on cutting costs here and saving money there in an effort to have money dollars in the bank at the end of the month. While being frugal and being smart with expenses is extremely important, it’s NOT going to make you rich.
Getting rich and retiring before you hit the age of 40 requires you to start making more money right now. There are so many ways to do that, and it all revolves around creating a business or some type of thing that makes you more money right now.
I think a lot of people also make the mistake of trading more hours for money too. To make more money, they take extra shifts at work or get a second job. Again, this will help a little but it isn’t going to make you rich in the long term.
The real way to grow wealth is to create some sort of business that generates money and/or invest money and let it grow over time. In fact, you should probably learn to do both. Most people end up doing both. When they build a business that makes money, they need to do something with all that money to make sure it grows and gets bigger over time. That’s when they learn investing too.
With that said, here are 3 incredible ways to make money and retire before 40. It’s a short list, but it’s an effective list. You don’t need a list of 30 ways to make money. You need that ONE way to make money that works. And the below 3 are incredible ways to do just that.
1. Start a blog
The BEST way to make money online is to blog. This is my opinion and here’s why it’s true.
A blog is really just a website that talks about a specific topic. With almost everything that exists on the internet, there is some way to make money from it. People on the internet are always looking for solutions to their problems. And they are willing to spend money to solve their problems. So as a blogger, the main thing you’ll do is talk about things and help people solve a certain problem. For example, if you have a blog about back pain, you can spend some time talking about products that help alleviate back pain. Back pain hurts! People will try out the products you recommend if you do a good job explaining how the product works. It’s really straight forward like that.
That’s how it works in a nutshell. People are making full time incomes online with their blogs. Even if you only get to a level of a few thousand dollars per month, that’s a good amount of extra income. But if you want to get deep into it, making $100,000+ every year is achievable within a few years time frame.
2. Start investing
You already know investing money is important. It truly is important. And it’s especially important to get started investing early on because money compounds over time. I looked at a family members insurance policy that was started for her when she was a baby. By the time she’s 65 she’s going to have over 1 million dollars waiting for her. Why? Not because the investment was so good. It’s because it was started very early on and the money compounds over time.
I think the biggest reason why people don’t invest early on is NOT because they don’t have money. It’s more so because they don’t know HOW to do it. But you need to get started. It’s just something you need to do if you want to be rich when you’re older.
3. Write books
Specifically, eBooks! You know what’s great about them? They are super low cost to create and even publish. Since eBooks are bought and sold online, you’re main expense relate to the cost of hosting it on a website that sells books like Amazon. Now you can get into it deep by advertising and promoting your book which can cost money and time, but overall, it doesn’t need to be expensive.
And perhaps the best reason to write eBooks is the fact that you can make a lot of money doing it! The most important thing is that you need to be knowledgable in a certain area of interest that people want to learn more about. Writing the book is free. And the return could be amazing! Even if you sell a book for 1-2 dollars on Amazon, if you sell 10 copies a day, that’s extra income in your pocket. Now, this is a small thing, but if your book is great, selling dozens, if not hundreds of copies per day, at $10 per copy, yields big time revenue.