How To Get Rich
How To Get Rich
February 13, 2020 By Machinist
Most people want to be rich. A smaller portion of those actually want to get rich. If you are one of the enlightened few who are willing to actually do the work of getting rich, then you are in luck, because this article contains pretty much everything you need to know about money and how to accumulate a great big pile of it.
There are really only three ways to get rich, but one of those is dumb luck, and you either have it or you don’t. That leaves only two ways to get rich that you have any control over. You can work for your money or you can put your money to work for you.
Actually, you are going to have to work either way. So, it would be more accurate to say that you can work for you money or you can work for your money AND let your money work for you. Whether or not you choose to participate in that second part will largely determine how long you’ll have to work.
Let’s start by talking about money.
What Is Money?
Money is just a means of transferring value from one person to another. If I am a candle maker, I could trade my candles for things that other people want. I would probably be able to find a butcher and a baker willing to trade a steak and bread for candles. I may even find a financial advisor who wants a candle, even though I am not interested in his services.
By trading my candles for money, rather than trading directly for the goods I want, I can still get something of value from the advisor. Furthermore, I could eventually hope to make a trade with a car maker, even though he will never have a need for the twenty thousand candles his car might be worth.
Where Does Money Come From?
Because money is just a representation of value, money can be created whenever value is created. Value is created through production, and production typically comes from work. So, even though there is only so much money in circulation, there is no limit to the money that can be created. There is no limit to the work that can be done, so there is no limit to the money that can be made.
Creation of money through production is not to be confused with inflation, which is pretty much the antithesis of production. That’s a topic for another day.
A Note About Productivity
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