How can I get rich quickly? Glad you asked.

You've probably been long on the web page, looking for concrete answers to fill your curious mind.

I will tell you this early: you may get rich quick… or not.

Well, it's not like money will fall under the sky soon, nor you are born with a silver spoon. If, in case, you are, please skip this post!

Kidding aside, you should know as early as now that getting rich overnight is highly improbable, although in some cases, it does happen. However, it's most likely a slight chance only, as 1 out of 5 people would most likely hit the lottery or an heir and heiress to an amass of a fortune.

One thing is for sure, though. There is a system to getting rich, and it generally takes time.

If there is one surefire way to unravel the mystery of getting rich, we'd probably all been doing it. But did you know that the secret is out and all you have to do is follow through?

In this post, let's unlock the secret on how to get rich, explain the get-rich-quick scheme, and follow steps to become the next multi-millionaire or billionaire.

Are you ready?

Let's start!

Related reads: How much is 6 figures- Will a 6 Figure Income Makes You Rich?

How can I get rich quickly?- The simple code of Wealth Creation

I've observed and researched and crunched several numbers to find a difficult answer to know how true wealth is created. But, unfortunately, I've found the answer is quite actually simple.

‘Unfortunate' because we're conditioned to trust things more when there's a complex explanation. It's just human nature.

Let's start with wealth in simple terms:

If you sell everything you own today and pay everyone you owe, whatever is left is your wealth/net worth. Furthermore, the ultra-wealthy spends time and energy investing in public and private businesses.

When we say public businesses, these are through stocks. On the other hand, private businesses are through personal businesses and/or angel investors in other's businesses.

Overall, the simple reason for this is SCALE. Meaning it's possible to grow wealth from a business much faster than a salary. Besides, the average annual salary raise is currently 3-5%.

Aside from that, most of the real estate assets of the bottom 50% are from homeownership. However, homeownership alone doesn't generate income. So unless you have a real estate business (rentals, Airbnb, house flipping), your primary residence is just another expense.

Here's what makes up the wealth of the top 1% of U.S households and the bottom 50%

Asset Type	Top 1%	Bottom 50%
Equities (i.e stocks)	34%	2.2%
Other assets	22.4%	12%1
Private businesses	21.7%	1.7%
Real estate	12.8%	54.4%
Pensions	5.9%	9.4%
Consumer durables (e.g cars, appliances, etc)	3.2%	20.4%

All that to say, if you're earning a stable income, have no crippling debt, investing regularly in the stock market, and you are wondering what else you can do to build wealth? Look into building a business. It doesn't have to be complicated; start small.

A business doesn't have to be elaborate from the beginning. Some don't require so much capital, such as:

• Dropshipping
• Reselling
• Freelancing
• eBay and Amazon arbitrage

The point is whatever scale can help build wealth much faster. Bonus: you don't have to quit your job to start one!

Read more:

• How to build assets? The secret to wealth revealed for young adults!
• 21 Best And Most Successful Businesses To Start With Little Money

Get rich quick, explained.

Let me guess. Upon reading this article's title, you officially get hooked. Maybe you are looking for ways to get rich quickly. But, as I mentioned earlier, it depends.

Some say luck has something to do with it. Well, whatever you believe so. If you think that being rich is a state of mind, then be it. But, on the other hand, if you think that it takes time, then go on. But, do not close the possibility.

Let's first discover the “get rich quick” schemes- where did it come from? Moreover, why do people keep falling for financial scams? And how does technology makes it easier for these schemes to flourish?

Even before the early days, con artists have lived. These guys used different methods but continue using the same spiel. Overall, there is a fine line between these exaggerated claims or puffery vs. marketing.

It may get difficult to point whether it's a pure bluff or accurate, but don't forget the old adage, “If it's too good to be true, it probably isn't,”

Online, there are dozens of financial gurus who promised to teach you how to get rich using familiar tactics:

• Fantastic promise– claiming their product or service is superior, moneyback guarantee, get rich quick, and so on.
• Compelling story– ever heard someone sympathizing with you, proclaiming that he too, once worked the 9-5 job, get bored and burn out, hence quit?
• Social proof– you'll witness a bunch of people attesting to their testament, claiming how the service or the product helped them, and now they are persuading you to jump in as early as now. Notice the urgency?

These are all tied to the get rich quick scheme. I'm not saying that it's illegal or devious. But, the act of fraud and scamming other people for one's own advantage is unethical. That's why many people are drawn to the phrase, “get rich quick,” because who isn't right?

We are a society built on trust, and if we aren't, we will collapse.

Another get-rich-quick scheme you may encounter is the Ponzi scheme. It looks like a pyramid or multi-level networking scheme, but here money comes from recruitment.

It's also the old “borrowing money from Peter to pay Paul, and so forth,” – without the intention of paying anyone. So, again, our advice here is that, once you encounter red flags, go run for your life.

If there are no products or services to sell, just pure recruitment of other people, or if there are products but are usually worthless, don't let yourself get duped. Typically, these schemes thrive through more people joining their cult.

The modern get-rich-quick scheme today is in the form of coaching. Don't get me wrong.

I know coaches who are legit and how coaching can help you in your goal. But, today there are many self-proclaim self-help gurus and money coach who is just after your money.

I'm not generalizing, but some will teach you a money mindset, how to make money, and all that stuff- all of which don't apply to your unique situation.

Stop wasting your money and your time. Instead, hire only legit coaches, or better, be a coach yourself. Be your own financial advisor or accountant.

Above all else, if we talked about money, it should be personalized. Therefore, any advice may be in life or financial- your need depends on your UNIQUE situation every time. Only take relevant advice!

What is the secret to become rich?

Hopefully, by now, you understand that if you really want to become rich and stay like one, it will generally take time. Moreover, don't let yourself get fooled by hideous get-rich-quick schemes all over the internet!

For now, the secret is out! Here are the secrets to becoming rich:

Secret #1: Start with your mindset

Mindset has everything to do with your overall quality of life. If you want to become rich, think big and start thinking like a rich person! #MillionaireMindest

That is, prioritizing what's essential and non-negotiable plus valuing money. Then, build an abundant money mindset, attract it, and clarify your intention.

Do not fall into the hustle trap. Nowadays, the hustle culture teaches us that you get paid more if you take that overtime; it's like glorifying being busy. If you believe that the more you work, the more money you can produce, you're one step closer to burnout and fatigue.

Besides, don't be addicted to money. You should work to learn, don't work for money; work for knowledge.

Likewise, never chase money. It should be a byproduct of your success.

Another mentality you may incorporating right now is that the less I spend, the more I'll have. Honey, I'm telling you that equals a dull life. You should live your life to the best of everything. If it makes you happy and fulfilled, don't stop your $5 Starbucks coffee.

The key here is a delicate balance between spending intentions and prioritization. You get what I mean.

Secret #2: Be financially-free

This one here is crucial. You should pay off your debts ASAP!

Remember, your credit card is not your emergency fund, so stop that! Using a credit card to get out of an emergency is like putting out a fire with gas.

Therefore, build a stash of actual cash for emergencies and don't let an emergency force you to rack up debt on a credit card.

If you also have other debts like mortgage, personal loans, student debts, among the few, start paying it and be financially free.

Read more:

• 12 Smart Ways to Pay Off Debt Fast and be Debt Free
• How To Stop Living From Paycheck to Paycheck – 10 Realistic Tips

Secret #3: Invest smartly

Most people overestimate what they can achieve in a year and underestimate what they can achieve in ten years. The principle of compounding brings this statement to life. Today's huge chunk of work is less impactful than a steady amount of work over a long time. Time is your friend; therefore, take advantage!

If you don't understand an investment, don't just jump into it because everyone is doing the same. Instead, you'll do yourself a big favor by getting yourself educated first. Yes, including bitcoin!

Related reads:

• How to Start Investing Your Money Like a Pro – The beginner’s guide
• How To Invest In Property With Little Or No Money

Secret#4: Automate your finances

This is one of the no-brainers for financial success! Once you learn to automate your finances, life will be smooth and easy.

Much better if you separate your savings account from your checking. There are many ways to automate your savings; you can use an app or software to help and remind you to save your desired period. Aside from that, if you're a traditional one, you can use the manual pen and paper method.

Don't get too intimidated; just save. Let yourself get addicted to saving money. Even if it's a small amount, it will eventually add up. Then, you can start money-saving challenges or the 30-Days Saving Rule.

Furthermore, determine your savings rate, so you know how much is your saving goals and keep you in sync in terms of where your financial position is.

Secret #5: Build multiple income streams

Did you know that many of the millionaires living on the planet today have an average of seven income streams? That doesn't mean they have seven jobs, though.

What separates the rich from the poor is their ability to build a passive income.

When we say an income is passive, you earn money but put less effort and less time accumulating it. However, some passive income does need a minimal effort or upfront capital investment in the beginning.

The key takeaway here is don't rely on a single source of income. Instead, find other ways to earn extra money, a side hustle or side business, or learn to monetize your hobby.

How to stay rich

When you start asking how can I get rich quickly, you should focus on staying like one. That is, of course, if you are dead serious about generating wealth for a lifetime.

Besides, there are countless reports about individuals winning the lottery and getting broke a few years after or bankrupt celebrities and sports figures. Hence, learn to stay rich! Here are a few practical tips.

Save money

You might ask, “Save money? Are you kidding me?” Well, the truth is that many know this but how many are actually doing it?

No matter how small or huge your paycheck is, start saving money. Let your mind, body, and soul get used to saving more money. Just save!

Diversify income streams

How can I get rich quickly? One answer, diversification. Have multiple streams of income, passive and active, spread your assets, and start upgrading yourself.

The statement, “Don't put your eggs in one basket,” can attest to it. You should also start managing your will and testament so that your loved ones will thank you sooner than later.

Live on a budget

This may come as a surprise, but did you know that even the wealthiest people on the earth are budgeting?

I repeat: Learn how to budget. If you know how much money is going in and out of your wallet, it won't be challenging to keep track, and you won't always have to second guess.

Besides, budgeting is as simple as pre-determining your expenses and taking them away from your income. If the numbers are positive, then good! You are budgeting well and making room for disposable income plus savings. But, if the numbers left are negative, try to assess which line expenses you can curb.

How can I get rich overnight?

For the million-dollar question, here are some points I can think about.

Winning lottery

We can't deny that life is also partly a game of chance. So, if luck is on your side, then congratulations! You deserved it. But, I think it also has something to do with statistics and probability.

A sure way to get rich overnight (but rarely happens) is through winning the lottery. I mean, there's no harm in gambling; just don't let it eat you. Your odds in winning the Powerball are currently 1 in 292,201,388. So, go play, but don't count on it solely to get rich.

Day trading

This is entirely different from long-term investing. Day traders also buy stocks at a lower price and then sell them at a higher price later within the day or just before the market closed. If the stocks depreciate in value and cannot sell within the day, they lose.

Essentially, day trading is a risky type of stock investing, and it isn't recommended for average or beginner investors. For day traders, locking in profits within minutes or seconds of the day matters.

Vlogging

Lastly, video blogging, especially on Youtube, is one way to get rich overnight. I consider it because if you're a famous internet star and have a broad fan base, the 4,000 watch hours on the said platform can be achieved within an hour.

Look at those K-pop stars with over a million views in just a few days their music video is released. If you are a vlogger, and you coupled your videos with ads, you definitely earn money even a few months as a beginner.

How can I become a millionaire in a year?

Now, for this question, it may be achievable but still varies. So, here's how you can become a millionaire.

1. Invest in yourself

Jim Rohn said that formal education will make you a living, but self-education will make you a fortune. So, what's the lesson here? It's not always “how can I get rich quickly” but more on staying like one.

What's the sense if you don't know how to safe-keep and manage your fruits of labor and hard work because you lack common knowledge? Invest in yourself first and increase your worth or value. Keep learning, keep growing, and keep succeeding.

After all, investing in yourself pays the best interest.

2. Create a financial plan

If you know what you want, the next step is to find out how to get from where you are right now to where you want to be. Then, most significantly, create your master game plan.

You should learn personal finance, even the basics of it. Plan how much to save, end the vicious cycle of living paycheck to paycheck and know your net worth. Your financial plan will be the guiding post that will help you achieve your goals.

3. Establish smart financial habits

Habits are the backbone of success. Through repeated and automatic doing of it, you set yourself to success and financial discipline.

Some smart financial habits you can try are:

• Saving money for future goals,
• Budgeting to keep track of finances,
• Maintaining zero debts,
• Investing in high-yield or dividend stocks,
• Making more money,
• And more!

How do you go from poor to rich?

Ever heard of the great stories from rags to riches? Most of them develop a system that works for them and grows from it. With a boost of taking risks and culminating in life's right attitude and mindset, they can overcome many of their financial hurdles.

You can too; here's how:

#1. Use a spending plan

If the word budget is a stretch for you, switch it instead to a spending plan. Your spending typically varies from month to month. So, a fixed budget might not work for you. Do this instead:

First, plan money for your living essentials- food, rent/mortgage, utilities, transportation.

Next, set money aside to pay down debt. e.g., credit cards, student loans. Don't forget money for savings as well, e.g., emergency fund, 401(k).

Then, spend whatever is left however you want. Pro tip: use a weekly plan instead of a monthly one.

What can you make out of a spending plan?

• You'll have more control and reduces the guesswork about what you need to spend on,
• Less likely to run out of money before the end of the month.
• You don't have to use a traditional budget.
• Take care of your essential bills and savings first, then the rest is up to you.

#2. Live below your means

Take away what other people think from what affects how you spend your money and watch how easier it is to save more money. Let your mantra be, “The only person I care to impress is no one. It's the cheapest thing ever!

#3. Pay down your debt

Credit cards are simply temptation devices we carry around every day. If you can own a credit card with a $5000 limit and not spend more than $200 on it, you're winning at life, and you don't even know it.

If only credit cards were truly free money, though. Therefore, pay off your balance every month. Don't give the banks free money.

Likewise, use less than 30% of your credit limit (a major boost to your credit score). Plus, treat it like a debit card, meaning don't spend what you don't have.

Moreover, check your credit report regularly. So you know if someone else has been living large under your name.

How can I get rich quickly?- Conclusion

Ever wished you were Bill Gate's Kid or a descendant of someone wealthy? Well, how 'bout we create wealth for our own generation, so they never have “to wish.”

It starts with you! It's not just about making the next quick buck to spend. Remember, it's also about building wealth for the next several generations, plus the slow and steady wins the race!

How about you? Do you have other ideas on how to get rich quickly?