The Dream to become Rich...

The Dream to become Rich...

When I speak to people around the country many people tell me their secret dream of becoming rich. Here is a plan for becoming rich...

1. 
   Define what rich is. You cannot hit a target that you do not know. One definition I like says this... If you have good health, good family, several friends and enough cash flow to be able to take off work when you wish, eat out when you wish and travel where you wish, you are rich.
2. Create a plan to achieve that goal.
   
3. Increase income. Work overtime, take a second job, earn a raise, seek a higher-paying job or earn money from a hobby.
   
4. Decrease spending: turn in your cell phone, cancel the cable TV, cancel magazines and newspapers, sell your large house and buy a smaller one. Always buy 2 year-old cars.
   
5. Invest excess cash in mutual funds.
   
6. Buy a piece of real estate. Rents and real estate values go up.
   
7. Start your own business.
   

Do all of this for 30 years. This is my plan. If you have a better one, that is great. But have a plan and follow it.

Quote of the Day
To be successful, you must decide exactly what you want to accomplish, then resolve to pay the price to get it. -- Bunker Hunt