Apologies for the “click-baity” title but I think it is kind of fun to write about this since I have already done my post on how to be rich. To continue from the my post on how to be rich, I would like to reiterate that it is ”easy” to get rich simply because of the transitory properties of money itself. This means that you can technically become a multi-millionaire so long as someone or some entity transfers that amount of money into your bank account. So I guess the more important point of my post is on the topic of how to stay rich instead. I understand that it is off little value to share about this topic especially when the person is not rich yet. However, I feel that it is more important to know how to stay rich or at least know how it is like to maintain your wealth rather than knowing how to get rich in the first place.

Find ways to accumulate wealth at a reasonable rate

First and foremost, be realistic, no one is going to give you money willingly for nothing unless in the form of an inheritance. As such, find a meaningful job that pays decently and do your best. Consider looking for alternative sources of income via investing or working an additional freelance job if you want to accelerate your rate of savings. Using those methods, set reasonable milestones to track your progress so that you can gauge how long it will take before you reach your eventual goal after working backwards.

Live within your means and focus on sustainability

Besides learning how to earn, focus on your spending a little more as well. Some people believe that spending is an entitlement but they are only partially right. The fact that anyone has even the slightest concept of retirement shows that they have to set away some of their income for the future. Therefore, learn to spend within your means while saving a portion of your income for investing or directly for retirement. This advice is somewhat trivial but it does make a lot of sense for people who are currently spending what they earn and yet complain about not having the ability to retire before a certain age. Yes, some people might take longer than others but spending what you earn makes retirement impossible.

Learn about the value of time and your work

If you understand the value of time, you will be able to better gauge the value of the items you buy and the services you choose. Essentially, if you do not know how to value your own time, you will not be able to get rich in the first place. That is the reason why I am placing this at the last point of this post. For example, if you understand “value” you will be able to realistically determine if there is a chance for you to achieve your financial goals because you will be able to work towards the skills that can increase the value of your time when you work.

Closing thoughts

If you think it is easy to stay rich then you are right but the real difficulty is not because of the methods I have shared. Instead, it is the discipline required to stay on course despite the setbacks and hardship that you will go through during your journey to becoming rich.