Quantcast Top 10|Social media|How to|Blogging & Resources|Guides: How to Grow Richer In A Poor Economy

Saturday, March 13, 2010

How to Grow Richer In A Poor Economy

This article will give you tips and advice on how to grow richer while the world grows poorer and secure your financial freedom
Step 1
Invest in stocks for the long term. You should buy blue chip stocks in companies that will probably be around for years to come and continue to be valuable companies. You should reinvest your dividends and invest for the long term thus holding your stocks for many years.
Step 2
Protect some of your wealth by buying gold. Owning some gold is a good idea and will help protect your wealth because gold is what backs a lot of currencies around the world.
Step 3
Create as much passive income as you can. This type of income you don't have to work very hard for and it will flow in each month. Some good passive income opportunities might be writing on sites like ehow.com or selling products for a company.
Step 4 Invest in real estate. This is one of the best ways to get rich if you can be successful in this area. The best types of properties to own are large apartment complexes and hotels which you can rent out to multiple tenants for passive income.
Step 5 Start your own business. There are many benefits to starting your own business like not having to work for someone else and getting many tax advantages through your business. Many of the richest people in the world have their own businesses or have taken over a business that is very successful. This should give you all the motivation to start your own business. These are just a few ideas to help you grow rich even in a poor economy

No comments:

Post a Comment