How to Be a Billionaire

We all want to make money, these steps will give you an idea on how to make money. A billion dollars is not an easy thing to acquire. In time you will learn how to manage your money and take it to a billion dollars. If you have faith in whatever you are trying to accomplish, then you should master all the elements to making a billion dollars.

Steps

1. Know your limits. It is both more important and more within your control to save enough for your needs and earn a reasonable return on it than to become very wealthy. Spend only money you can afford to lose on high-risk activities.

2. Make a plan. Making a plan is important, lay out all of your ideas. Once you have written down all of your ideas, start thinking about them. Simply writing and thinking is not enough. You should be working and saving all of your money. Once you have a few ideas, start to plan them out.

3. Invest In real-estate. Depending on the house and the area you pay for, it might increase in value over the years. Also, while you’re young save up your money.

4. Invest in a Business. Buying into a business is a good idea to get started. Eventually after buying a couple of businesses you should start investing in businesses that will make you even more income.

5. Buy and sell Stocks. The stocks is another good way to become a billionaire or close to it. learn the tricks and the ropes of trading stocks. After decades of hard work and trading, buying stocks will pay off.

6. Save your money. Becoming a billionaire by saving can be challenging, depending on your income of course. Try to be very frugal and save every penny, nickel, and dime. Eventually the bank should cut you a break and give you low interest rates on your money. Maybe the bank might even give you a higher interest rate so you can get more income for your money every year.

7. Gamble, if you prefer occasionally daydreaming about getting rich to devoting long-term efforts to get rich. The odds are against you, so you’re very unlikely to win millions and making billions will be essentially impossible (best to stop at and enjoy millions if by chance you should win them), but you might find it fun.

  • Maybe try the Lottery. If you feel you have been born with luck, then you should try playing the lottery. There have been hundreds of people who have won the lotto, by chance and luck they won millions. You perhaps can be one of these people.
  • Take a chance at the Casino. If you think you are a good player or enjoy the atmosphere of a casino, try it. It can be a card game, table game, just try it out. You never know–maybe you’ll get rich quick.
  • Stop gambling immediately (or don’t start at all) if you think you might get addicted, because that will make you very poor.
8. Go pro in Sports. Are you a good sports player, basketball, baseball, football. Then you should really take your skills to the max and make money out of it. If you become a millionaire sports player then you should save all that money. Eventually you might hit a billion dollars.
9. Try marrying for money. If you have good looks, you can always try marrying into a rich family. After a while you can manage some of that money and try to get a billion dollars. By making all the right moves you can accomplish this task.

  • If you’re well on your way to being a billionaire, avoid being married for moneyyourself because it could sap your resources and prove unsatisfying for both of you.
10. Read a few biographies written by well known billionaires to see how others earned their riches.

Tips

  • Make a plan.
  • Think it through.
  • Have a plan B
  • Keep 1/4 of your earnings in a bank account. In a few years it will have been payed off (plus the interest would be high).

Warnings

  • If you are under age, plan ahead and go to college. Choose a major that is practical, yet prestigious.
  • If you are under age, consult your parents about making money.

Source : http://www.wikihow.com/

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This entry was posted on Monday, January 16th, 2012 at 2:59 pm and is filed under Finance. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.