There is and has always been a fascination with the making of money. Everyone wants to be rich – no one wants to be poor. So a common question that arises in conversation, Internet chats, public forums and any other gathering of minds, is this: how to become rich? Or said another way, how to not become poor?
It’s interesting how many answers to life questions are so incredibly simple. So straightforward. While society in general loves to complicate things, most of the accurate answers to questions we all have are actually quite basic. Ask any question, bring up any issue, and chances are good people will put together panels, start research projects, and arrange debates to “discover” the hidden, mysterious truths. But the reality is, for most questions, there is an elementary solution. So elementary it can be easy to miss.
So, how to become rich? You might have heard the saying: poor people entertain themselves; rich people educate themselves. It is true. Amazingly true. The answer of how to become rich is tied inextricably to one’s work ethic and mindset.
Of course this axiom is speaking in general terms; the typical rich person spends most of their time and resources on gaining knowledge, improving their mind. The typical poor person spends most of their time and resources on entertaining themselves. There are exceptions (there are always exceptions!) but the point of this article is to focus on the general truths regarding wealth.
King Solomon, an exceedingly wealthy man with unrivaled intelligence, didn’t need to write a 500 page book with charts and graphs and multi-faceted strategies on how to become rich. If that was what was needed, that is what he would have given to his son Rehoboam and the young proteges of his court. No, instead of all that complicated, superfluous information, which changes over time anyway, Solomon put forward a handful of evergreen nuggets of wisdom. He was 100% correct then, as he is today:
“Poor is he who works with a negligent hand, but the hand of the diligent makes rich.” Proverbs 10:4
“And by knowledge the rooms are filled with all precious and pleasant riches.” Proverbs 24:4
Do you need to invest in stocks and precious metals? Of course. Should you get into crypto? Most likely. Should you spend many years in school to secure a position which relatively few can achieve? Possibly. Run your own company? Yes, two times over!
Yes to all of the above. But it is important to remember: many have made millions doing the above, while others have lost everything doing the above. There is no guarantee of any particular outcome following certain vocational paths.
The answer to the question – how to become rich – lies not in any particular investing strategy, nor does it lie in any particular occupation or level of education. The key lies in a two-fold strategy of daily behavior, given to us by the wisest and wealthiest man who ever lived. And here it is:
1. Be diligent in your work
2. Gain knowledge
Some people might be frustrated by the sheer simplicity of this. I mean, don’t you need more information than two simple statements of a few words to learn the way to wealth?
In truth, not really.
And this is why: it doesn’t really matter what you do, nor does your level of education really count for much. There are doctors and lawyers and C-level executives drowning in debt (which means they are poor). There are men and women who have graduated from premier schools looking for years for a position which fits their level of education, all to no avail. There are experienced investors who cannot make the mortgage payment on their home.
On the other hand, there are wealthy plumbers. Wealthy auto mechanics. Wealthy internet business operators. The golden path to becoming wealthy is always a function of one’s daily habits, of how one thinks, and how one works.
Diligence wins. Knowledge wins. While there will always be ups and downs in every profession, the general truth shows if you guard what goes into your mind, filling it with useful knowledge, and perform consistently and diligently in your work, you will gain wealth.
How to become rich? It’s simple, really. Think and work in the right way.