There are few ways to get rich:
- Inherit it from rich family members, or (even more rarely) from a wealthy benefactor. Singaporeans were shocked when a maid inherited US$4 million in 2010 from her employer.
- Marry it via a rich husband/wife. This is one of the oldest trick on the book of getting rich quick and can be an option for those with great beauty.
- Win it via lottery or gambling. We are more likely to be struck by lighting than to strike top prize in multimillion lottery like the Powerball (USA) or Toto (Singapore). In addition, those people who get rich this way often lose all their wealth within a few years as they did not know how to handle such a huge amount of money.
- Steal it via theft, robbery or swindling. There are many people who are successful with this strategy. However, this is not an option for those of us who seek to make the world a better place.
- Earn it: Bill Gates is the prime example of a ordinary geek becoming a multibillionaire. This is the only reliable means that most of us can use. This website is details how to use this strategy and explains the psychology behind our thinking regarding money.
In order to earn a lot of money and keep that money, we have to understand how money works, how to value money, how to use money and how other people got rich. This is called financial education.
There are currently many gurus and salespeople who claim to have the secret with getting rich, and “it is all in the mind”. There is some truth in that, however, using the power of intention or positive thinking without financial education is merely wishful thinking. Blindly following these gurus will only lead to an unnecessary transfer of money from your bank account to their bank account.
The first lesson of financial education is to understand what money is not.
