Investing is the best way to get rich.
If you earn an above-average income and don’t go crazy buying things, you’ll have money left over for investing. Investing is the best way to get rich – and investing in your own side business is the best way I know to get a higher-than-average return on investment (ROI).
I’m not an advocate of quitting your job, mortgaging the house, and jumping into a business. Although you may read stories about people doing that the odds are very much stacked against you if you try. You just don’t know enough – or have enough – when you start off that way.
I believe in “chicken entrepreneurship” – starting out slowly and learning about a side business while you have the safe and steady income of your main job.
Even if you own your own business, you should invest a large percentage of your savings in a side business. It’s simply the only way you can ever expect to earn 20% or more on your money with relative safety. By a “side business,” I mean something you can run on weekends or weekday evenings. It is something that won’t take your attention away from your full-time job. It should be something you enjoy and are willing to stick with.
There are all kinds of side businesses you can get into, from consulting to freelance writing to real estate. We’ll be talking about those opportunities on Friday – and I’ll give you specific examples of how to make money in real estate, something I’ve been doing pretty successfully for more than 20 years.
I’ll tell you what I’ve learned about real-estate investing and how you can gradually and easily put together a “portfolio” that can give you a very substantial yearly income – enough to retire on if you so choose.