How to get rich faster - 5 ways to do it

in , by Nellie, August 27, 2021

 "How to get rich faster"- That's what most of us have found ourselves googling to find ways to make money. And it's not a lie that most people want to get rich. It's a reality many of us face and one we all share.


For some, it's an obsession; for others, just the hope of financial freedom.

For me, it was financial freedom. I ended up making $1,000, cleared my debt and quit my job to make my business a full-time gig.

At that time, I had the plan - I just didn't have the money. So that made me search the internet to find out if these ways would help me become wealthy.

But how do you know if these ways will actually work? And are they worth it?





Let me break down what I think about each way so that you can make an educated decision for yourself.

Let's get into it.

1) Join MLM Companies

The way MLM companies work is that you buy the company's products and sell them.

But the reality is that the real way to actually make money is by signing up more people under you and then have them do the same thing.

To get rich faster with MLM companies, you may think that all you need is charisma and the ability to sell.

But this is not true. The way to become wealthy with this method is actually through signing up people like crazy.

The only problem with these companies is that a shit ton of people know about the companies which should make you think that the products are wildly successful but they're not.

That's why the companies start the MLM structures in the first place - to sell their products to MLM marketers.

Also, most of these companies make more money from your personal success to sign up people than they do on their actual product sales.

What does that tell you?

Their success is not on the products they're selling. It's the number of people they're selling the idea of success to that increase their bottom line.

So if an MLM company doesn't get new signups, then who will buy their products?

But don't get me wrong. If you are among the first 50 people to learn about an MLM business, you can be wildly successful.

The first 15 people who you'll sign up will make you wealthy from the people they sign up. The higher you are in the chain, the better it is for you.

And the only way you'll be able to sign up that many people is by lying to them that they will make money - which frankly is unethical.

But there are ways to actually get rich through selling products without being sleezy or unethical.


2. Online Gambling for Sports/ Events

When you hear of gamblers winning 200 million or 100 million from betting on soccer games, you become wildly hopeful that it could be you.

But the only problem with using this method to become rich faster is that it is highly dependent on luck.

And luck is not a quantifiable measure of success. Why?

Because there's risk.

In my endeavor to know if this method actually works, I lost $300 in hopes of getting $1,000 BUT....

I DID make the $300 from $50. It all depends on how you want to look at it.

So, if the question is can you really get rich faster with this method?Then the answer is No. I lost all my money.

There are people who have become overnight millionaires and there are others who have lost their homes gambling.

The best way to actually become wealthy is not by doing it fast.

With this method, you run to stumble on so many risks and effects on your mental state that it's not really worth your time and effort.

But that doesn't stop Half of the Americans from betting - 53% to be exact. Out of that number 64% are more likely than others to gamble again if they win.

That should either tell you that people make money off gambling or they're addicted. So which one is it?

Well, according to the recovery village, there are 10 million Americans living with gambling addiction.

The report also states that people with the addiction don't seek for professional help. Meaning the numbers could be higher.

The best way to actually become wealthy is not by doing it fast. (or rather not with gambling)


3. Spend money on Lottery tickets 

According to the book, "The psychology of money" Americans spend more on lottery tickets than movies, video games, sporting events and books combined with the lowest income households spending $412 a year.

But 40% of Americans cannot afford $400 in an emergency.

These statistics are wild and show you how a lot of people actually want to get rich faster.

But telling you that winning a lottery ticket will not get you rich faster might not change your mind so let's look at the odds of you winning it.

According to wonderopolis, if you picked 6 numbers from a possible pool of 49 numbers your chances of winning the jackpot are 1 in 13,983,816.

So instead of spending that $400 on lottery tickets in hopes of becoming wealthy, use other money-making ideas to generate wealth. There are many more ways that you can invest that money and make it back with profit.

Which takes us to our next point.


4. Invest in a company that's about to go public.

The chances of you becoming rich by investing in an IPO are actually really high. And this is because of the IPO pricing and trading disparity.

The IPO pricing is the price the company sells their shares for when they first open up on the stock market. And it will be different from other stocks because people think that this new company has more potential than others so they will pay more for it.

And then there's trading disparity, which is how much the price moves after the IPO price. They'll increase in value and then decrease or vice versa, which is also called "the post-IPO drift".

Now, during this period, a lot of media coverage and talk about the company going public (before it starts trading in the exchange) causes high demand.

This high demand, and low supply of shares drives the share prices up really quickly on the first day.

Companies like Tesla, Airbnb and Snowflake had huge increments of their stock prices compared to their IPO prices.

For example the Airbnb IPO price was valued at $38.03 per share. Then increased by 115% to $43.73 when it started trading in the exchange and is now at $57.31.

And the thing is, there are so many other companies that have seen this sudden increase in prices that it is no longer a risk but rather a trend.

But for you to get rich by investing in IPOs, you need to have a huge chunk of money for investment which leaves out the regular folk from having a piece of that sweet cake.

If you don't have a huge chunk of money, you can opt to buy stocks right after the IPO starts trading in the exchange.

Obviously, there are companies that might tank. And that's why it's always good to do a ton of research before settling on a specific IPO to invest in.

Things to Look Out For Before Investing in IPOs.

With that being said, there are things to know before you invest in an IPO

First is that they are not the golden ticket to getting rich faster because you will need to exercise patience. This kind of method is more of a long term strategy than it is a short term strategy.

IPOs are not guaranteed to give higher returns because some companies actually go public to ensure that they do not shut down. So it's not always that when you see an IPO you jump on it. Always do prior research before investing.

If you're willing to invest in an IPO then make sure it has a good chance of thriving before making that investment.

Finally, IPOs are usually accessible to investors who meet certain criteria.

5. Following the "6-Figure Business" Marketing Gimmick.

Now, I know this might ruffle a few feathers here and there but I really need to ask a question. When did 6-figure business owner become a marketing method?

Of course, knowing somebody is wildly successful is okay but you shouldn't use that to trust anybody. And here's why:

When you're looking for help, you should be looking for somebody who has prior experience with helping a person like yourself not a person who is wildly successful.

A person's success will not make you rich faster but the quality of their help will.

What am I trying to say?

Looking at the end of the spectrum of success can easily sway you to buy products you think will help you get rich faster.

Instead look at patterns.

1. Have they helped someone else?

2. What is the success of that other person?

3. How many people are becoming successful off of their service?

Now, that is a measure to really know if a person will help you get rich faster with the knowledge that they have.

Because let's face it. Sometimes, Success is sheer luck. Being at the right place at the right moment.

Bill Gates even said there would be no Microsoft if there was no Lakeside school. A high school that had a computer that even universities didn't have.

So it's good to actually know if a person has the expertise they say they have or is it sheer luck that they are successful.

If we don't, we end up buying digital courses that promise to get us certain results only to realize it was a big lie and there are no returns. (I've actually been a victim of this)

So if you're looking to buy digital products to make you wealthy, make sure they can actually deliver and consciously know that it will take a lot of work to get you rich.

Conclusion

It turns out that there are a few ways to get rich just not quickly, as long as you're careful about them. However, not every way is reliable and will actually work for everyone's situation.

Whether it's buying a digital product or it’s an investment plan, make sure the methods I recommend here can be applied in your life before moving forward with any of these ideas! 

Which other ways have you found that could actually help someone become wealthy?

Let me know in the comments section below so I can share more information on how they might work for you specifically!

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