Feb 29, 2020

Get Rich

RCP reverted edits by 86.142.239.193 (talk) to revision #27738565 by Caitlynn L

←Older revision Revision as of 01:20, 1 March 2020
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== Steps ==
 
== Steps ==
===  Ido — you can ''lose'' a lot of money. It's not a good way to get rich.
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===  Investing===
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#[[Start Investing|Put money in the stock market]]. Invest money in stocks, bonds, or other vehicles of investment that will give you an annual return on investment (ROI) great enough to sustain you in your retirement. For instance, if you have one million dollars invested and you get a reliable 7% ROI, that's $70,000 per year, less inflation.[[Image:Get Rich Step 1 Version 5.jpg|center]]
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#* Don't get enticed by day traders who tell you it's easy to make a quick buck. Buying and selling dozens of stocks every day is essentially gambling. If you make some bad trades — which is unbelievably easy to do — you can ''lose'' a lot of money. It's not a good way to get rich.
 
#*Instead, learn to invest for the long run. Choose good stocks with solid fundamentals and excellent leadership in industries that are primed for future growth. Then let your stock sit. Don't do anything with it. Let it weather the ups and downs. If you invest wisely, you should do very well over time.
 
#*Instead, learn to invest for the long run. Choose good stocks with solid fundamentals and excellent leadership in industries that are primed for future growth. Then let your stock sit. Don't do anything with it. Let it weather the ups and downs. If you invest wisely, you should do very well over time.
 
#[[Save for Retirement|Save money for retirement]]. Keep saving. It seems that fewer people are saving adequately for retirement. Some feel they may never be able to retire. Take advantage of tax-deferred retirement plans such as IRAs and 401Ks. The tax treatment they embody will help you save faster for retirement.[[Image:Get Rich Step 2 Version 5.jpg|center]]
 
#[[Save for Retirement|Save money for retirement]]. Keep saving. It seems that fewer people are saving adequately for retirement. Some feel they may never be able to retire. Take advantage of tax-deferred retirement plans such as IRAs and 401Ks. The tax treatment they embody will help you save faster for retirement.[[Image:Get Rich Step 2 Version 5.jpg|center]]


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