To have wealth, almost everyone wants it. However, not many people are blessed with richness despite all efforts done to make it happen. When you want to get rich, you need a combination of luck, skill and patience. To get rich, you need to follow your path leading to a fulfilling career. You also need to handle your money wisely through investments, savings and minimizing your living expenses. Just like Leonardo Gonzalez Dellan, he became rich due to hard work and wise decision making.
- Put Money in the Stock Market:
Invest your money in bonds, stocks and other types of investments which should give you ROIsjust enough to finance your retirement. For example, you can invest your one million dollars and get a reliable 7% ROI, and that’s about $70,000 per year.
However, you don’t need to invest in something that can give you a quick buck. If you buy and sell in stocks, you consider it a daily gambling. If you make bad trades, you can likely lose a lot of money, and it might not be a great way to become rich. Instead, choose to invest in something that can take you a long run. You can have your stocks sit and don’t do anything with it. If you invest wisely, you are assured to have more money in time.
- Save Money for Retirement:
Not many people are planning to save something for their retirement. Some people feel they will never be able to retire. You can take advantage with tax-deferred retirement plans like 401Ks and IRAs. The tax treatment can help you save faster for retirement.
- Invest in Real Estate:
Leonardo Gonzalez Dellan is a successful realtor in Venezuela and has offered many properties for sale or rent to developers and local buyers. If you do invest on these properties, it can possibly help you build your wealth. Many people are doing quite well with real estate, especially that their value can increase over time.
- Spend Your Money Wisely:
It’s hard enough to make a living. But it’s more painful and hard when you spend your hard-earned money on something that can devaluate or don’t need at all. Learn to choose things that are truly worth the time, money and effort. To be rich, you need to be wise on your expenses.