Thursday, March 4, 2010

The Ways To Get Rich

I made a list of all the possible ways to get rich. For my own personal morality, I did not include anything unethical (drug dealing, stealing, etc.). My goal is to have this list be the most exhaustive category based reference tool of ways to get rich, meaning that every way to get rich somehow falls into one of these categories.

To clear up any ambiguities, "rich" can have many different values depending on the person. But for the article's sake, we will define "rich" as $1,000,000 in net worth. And for those of you who don't know what net worth is, everything you own minus everything you owe.

The Ways to Get Rich:

-Grow a Business (Hold it)
-Grow a Business (Sell it)
-Real Estate Speculation
-Income Property Investment
-Flipping Real Estate
-Stock Market Speculation
-High Salary
-Collecting (art, antiques, treasure, etc.)
-Publishing (book, blog, article, music, etc.)
-Professional Practice (doctor, lawyer, etc.)
-Oil Well Investment
-Currency Trading

To clarify, growing a business and holding it is separate from growing a business and selling it because there are people in the world who have sold their businesses and gotten rich, but wouldn't have done so if they held it (think of the unprofitable companies in the .com bubble).

Also, professional practice is separate from growing a business because it requires an educational variable not inherent in growing a business. Also, a lot of professional practitioners have never grown their practice and have still gotten rich.

If you have any additions to this list that you feel do not fit into these categories, email me at with your suggestion along with ample evidence why. I'll give you a shout out if its well supported!