There are only 10 ways to Get Rich legally

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I recently enjoyed re-reading the book "THE TEN ROADS TO RICHES- by Ken Fisher".

It might be interesting info for some of you, people who are thinking of career change or looking for a concrete way to go about getting rich.

Book excerpt:

"When you get right down to brass tacks, there are only ten methodical and legal ways you can get rich.

If you genuinely aspire to be rich, figure out which of these roads makes the most sense for you and then focus all your efforts into getting as far down your chosen road as possible.

“Why ten roads? Why not five? Or 100? It’s just the observation of this roads scholar from studying wealthy people all my 36 year investment career. I’ve got over 25,000 wealthy clients I’ve studied carefully – some for decades. As a 24-year Forbes columnist I’ve studied and written about the annual Forbes 400 list of richest Americans for decades – and been on it and the Forbes global billionaire list myself since 2005 – and know people on both lists in and out of America, and interacted with many more very wealthy people. From all my observation, I can tell you they all fit into ten basic categories.

Follow one of these ten roads. Or a combination. For example, become CEO of a firm you didn’t start, build it up, sell it off, use the proceeds to start your own firm, which ends up even more successful. If you can do two at once it’s faster. Harder, but faster. But most wealthy folks travel one road their whole lives. That works. It’s more than enough.”

– Ken Fisher



HERE ARE THE 10 ROADS to Riches;

1. Found your own firm and create wealth
Starting your own firm and building it to be a successful enterprise can create some awe-inspiring wealth. This road is tough and requires courage, discipline and a thick skin as well as more than a smattering of luck but the rewards can be highly impressive.

2. Become CEO of an existing company
Getting to the top of the corporate ladder in a large firm can be highly lucrative. This is hard to do because you need bulletproof leadership and executive qualities but if you have what it takes, this can be a great path.

3. Ride on a superstar’s coattails
This is a matter of finding the right person and hitching your wagon to their rising star. You do all the background things which help the superstar perform even better.

4. Use talents to become rich and famous
If you have the right stuff, you can parlay what you’re personally good at to fame. Once you do that, you can find ways to monetize that fame and become wealthy.

5. Marry into serious money
Perhaps this will be an option for you, maybe it won’t. The point is people have been trying to marry up all through history. If this is a possibility, go for it.

6. Become a plaintiff’s lawyer
The lawyers who get in the middle of class action lawsuits can make very good money. Whether you’re a crusader or a pirate is irrelevant. This is a way to make money.

7. Manage other people’s money for them
Providing a great service to the wealthy and charging them a fee can make you rich at the same time as you help them get richer. Learn to sell and the rest will follow.

8. Invent/Modify something and learn how to sell it
If you can figure out how to sell whatever you invent or create, you can unleash a continuing revenue stream. You have to be good at marketing to make this happen.

9. Buy and sell real estate
There has always been money in real estate development. The key here is leverage – being prepared to take on debt on the basis of your gut instincts.

10. Save your money and invest wisely
This is the least sensational but the most reliable road to wealth. Work hard, save your money and generate phenomenal investment returns. Harness compound interest.

Broadly I agree but there are more ways to get rich..
#legally #rich #ways
  • Profile picture of the author datingworld
    5. Marry into serious money
    Perhaps this will be an option for you, maybe it won't. The point is people have been trying to marry up all through history. If this is a possibility, go for it.
    I like this one
    Is there any wealthy female warrior looking for marriage?
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  • Profile picture of the author justhumza
    Interesting ways to wealth, although I don't think the one about marriage is recommended for obvious reasons, thanks for the summary bud
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  • Profile picture of the author RogozRazvan
    11. Become a cult leader and ask people to donate all their money to you.

    What? It's legal.

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    • Originally Posted by RogozRazvan View Post

      11. Become a cult leader and ask people to donate all their money to you.

      What? It's legal.

      It's so true it's funny and scary at the same time
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    • Profile picture of the author fantrom
      Originally Posted by RogozRazvan View Post

      11. Become a cult leader and ask people to donate all their money to you.

      What? It's legal.

      Agreed. Scientology has done this to the tune of billions of dollars.

      Heck don't knock it till you try it.
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    • Profile picture of the author Sky8
      Originally Posted by RogozRazvan View Post

      11. Become a cult leader and ask people to donate all their money to you.

      What? It's legal.

      That IS a Good One

      Similar to Start your own religion
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  • Profile picture of the author dad2four
    8. Invent something and learn how to sell it
    If you can figure out how to sell whatever you invent or create, you can unleash a continuing revenue stream. You have to be good at marketing to make this happen.

    I'd modify this one a little. Title says invent, you added create in the description. I'd modify to "Invent/Create/Improve something and learn how to sell it."

    I believe that Improving or combining other ideas is responsible for a large amount of the fortunes that have been made.

    Think and Grow Rich even discussed it in great detail.

    A very large portion of Internet fortunes have been amassed using this method. Heck, Google wasn't an invention, and a large part of what they make their money on (adsense/adwords) wasn't their invention either. They bought and improved it as they do with tons of what they do now.

    Thanks for the compilation.
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  • Profile picture of the author zoyakhatun45
    Oh, is it true ? It is easy or heard. Do you rich man?
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  • Profile picture of the author socialentry
    If you create your own political party and win a war

    or if you are part of a military coup (and it wins)

    then you will most likely also get rich in legal ways.
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  • Profile picture of the author brute77
    @ dad2four .. thanks.. it did make sense to add it !!
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  • Profile picture of the author tobyjensen
    The good point that I like about that list is that the road to wealth has already been paved. There isn’t anything on that list that we don’t already know about. We all know where to end up being rich. The problem is how to get there and where each of us should end up. The misdirection and road blocks keep the vast majority from achieving it.
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  • Profile picture of the author JagSEO
    Leverage your own talent would be one.
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  • Profile picture of the author cnich23
    I'm working on 1, 2 and 4
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  • Profile picture of the author Statcode
    What about the lottery? It only requires LUCK. =)
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    • Profile picture of the author Scott Cob
      Originally Posted by Statcode View Post

      What about the lottery? It only requires LUCK. =)
      Sounds really good. But I would say it requires a lot of luck. In the most ideal "fairytale" way you get a buck to two, go to the closets outlet in the neighborhood to play some localotto and become instantly reach. But the true-to-life fact it is hardly possible. Think it is better to choose of the 10 offered ones.
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  • Profile picture of the author Mr Bill
    They missed out "ref-frame what being "rich" means to you." That's the fastest way to wealth - always.

    Most people in my experience have no idea how much money they think they'll need in order to be and feel rich. They just "dream" of millions and refer to that whole hazy, foggy area as being "rich".

    Having millions doesn't mean you're rich. I'm not talking about "health and happiness" either - let's leave those non-financial terms out of the equation and refer only to money and financial wealth. I know that in this context they mean having "lots of money" but how much is lots? Does he discuss context at all? How much does he say someone needs to have (or what sort of lifestyle are they living) before they're considered "rich"?
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  • Profile picture of the author Rigpa
    Marry into serious money!! I will try this next :-)
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  • Profile picture of the author mark healy
    some interesting ideas, marry someone rich is crazy!
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  • Profile picture of the author zenxseo
    Found your own firm and create wealth
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  • Profile picture of the author CG Tsang
    Gambling

    Cheers,

    C.G.
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  • Profile picture of the author jburns
    I really like # 8.... The best way for me is to sell your product. Awesome stuff thanks for breaking it down us...
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  • Profile picture of the author brute77
    A couple more could be;

    - Loterry,betting & gambling

    - Broker large transactions

    - Government contracts,tenders & exclusive rights
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    • Profile picture of the author Jake245
      Originally Posted by brute77 View Post

      A couple more could be;

      - Loterry,betting & gambling

      - Broker large transactions

      - Government contracts,tenders & exclusive rights
      Lottery sounds good and it really fits the context of getting rich legally and what is more important without spending too much time and trouble. Use to try luck in Powerball. Strongly believe my jackpot is in the offing
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  • I'd argue there is another way, the way of getting rich by creating a new way.
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  • Profile picture of the author GGpaul
    So...

    What if I was a talented musician? I'm going to just drop that because it's not another way to become rich LEGALLY? As far as I remember, Jay-Z and Beyonce are one of the richest musicians out there, and heck I don't even like their music.

    From what I remember,

    There are surgeons / doctors who are extremely rich. I don't think they're doing anything illegal unless they purposely killed someone or failed a procedure on purpose?
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    • Profile picture of the author DaveTheSinister
      Originally Posted by GGpaul View Post

      So...

      What if I was a talented musician? I'm going to just drop that because it's not another way to become rich LEGALLY? As far as I remember, Jay-Z and Beyonce are one of the richest musicians out there, and heck I don't even like their music.

      From what I remember,

      There are surgeons / doctors who are extremely rich. I don't think they're doing anything illegal unless they purposely killed someone or failed a procedure on purpose?
      I cant really speak for Beyonce, but Jay Z. He did 1, 4, 8, and 10. He didnt "just" make music and succeed from that. Its so easy to glance from the sidelines and see only others success. Do a little digging and you will find that he didnt just get lucky and get to where he was because his music was really good.

      I mean currently Roc Nation (his sports agency firm) is trying to break into pro boxing and from the outside he seems to be spending excessive amounts of money, which is most certainly at a loss, but sometimes "you have to fail your way to success" (Les Brown).

      The funny thing is, and what I believe is the major difference from Jay Z and others who dont make it to that next level is the perception of that situation. Looking from the outside most boxing fans are saying he is losing money and Roc Nation is going to fail, but I guarantee he is looking at it more like a loss leader, a way to get his foot into the door and is considering every extra dollar paid as an investment into this new venture and nowhere near a loss.

      Hope this helps
      D
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  • Profile picture of the author Jeff Schuman
    This is a very encouraging list. Sounds like we are in control of whether we become rich or not. If that is your goal you only have yourself to blame if you do not achieve it!
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  • Profile picture of the author sttbs
    I'm sure there are other ways to get rich..but this list covers pretty much everything - climbing all the way to the top corporate positions, entrepreneurship, investing (finance & real estate).

    There are different ways to get rich but requires the same mentality.
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  • Profile picture of the author johngreenishere
    It's my ways:
    #8
    #4
    #10
    Choose your ways and ride
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  • Profile picture of the author DGFletcher
    One of the must frustrating pieces of advice I ever received from my mentor was him saying "all legal money is slow. If you want money really, really fast, you have to do something illegal, like pull them over and just straight up demand it by force"

    This list has definitely helped break that "advice". Thank you!!
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  • Profile picture of the author djent12
    The list is really an in-depth one. Really like #4 & #8 as they bring along much motivation and inspiration. Although this one from the complementary list "Lottery, betting & gambling" is not that serious as it is just to one's. Still it would be very handy to get money without investing much efforts and invest them to implement one of the top-10 serious ideas.
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  • Profile picture of the author fantrom
    There are way more than 10 ways to get rich legally. This list is just a good start.

    I wouldn't set them in stone as they can limit your thinking and set a low ceiling for your potential success.

    But the title makes for a good headline and gets the author the buzz he was seeking.
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  • Profile picture of the author PennyBurgess
    Point 7 has some serious potential in it, there are people making multi-million with just that one tiny point in finance niche!
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  • Profile picture of the author Bradtastic
    I'd argue that 4 is a little too narrow. Plenty of people make insane amounts of money by being really good at something - without being famous. I know a music composer where I live that has won an Oscar for a best original movie song, which you have all heard, yet most of you wouldn't know his name.

    Same with a great doctor, or any skilled professional. When you are so good that you're indispensable, you can make enough to be your definition of rich - whether or not you get famous.
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  • Profile picture of the author PaulHadfield
    Perfect list for someone like me who is been paying attention to only one way so far!
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  • Profile picture of the author winnermarketing
    ....Sell affiliate product throught your funnel!

    seriously if you want to became very rich you must have a brand that you can sell all over the world
    i.g.: see google..........
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    • Profile picture of the author Tigerpaw
      #7 -managing OPM
      Launching this summer, '15, after preparations dating back through thousands of steps taken through the past 15 years. The potential is enormous.
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  • Profile picture of the author RobertDonohoe
    Great stuff man, post saved!
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  • Profile picture of the author ScottCofer
    #9 - Selling. Agreed, but I don't think it only applies to R.E. (although that is a prime industry).

    Plenty of other sales-based industries and/or product lines that can provide above-average income levels for those willing to learn the skills and apply themselves at above-average levels.

    By the way, I recently came across Grant Cardone's training material. Incredible .. highly recommended for sales professionals.
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  • Profile picture of the author dxbart
    Being in good health is the Number 1 of THE 10 ROADS to Riches

    cheers
    SAER
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    • Profile picture of the author fantrom
      Originally Posted by dxbart View Post

      Being in good health is the Number 1 of THE 10 ROADS to Riches

      cheers
      SAER
      This is like saying breathing or being alive is the number 1 road to riches.

      There are billions of healthy people on earth that will never be rich.

      In turn Stephen Hawking, who has ALS, is not only rich but famous.

      Lets stick to the actual subject of the thread.
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  • Profile picture of the author Joe Benjamin
    10. Save your money and invest wisely
    This is the least sensational but the most reliable road to wealth. Work hard, save your money and generate phenomenal investment returns. Harness compound interest."

    Saving and investing is my preferred choice.

    Make money work for you, don't work for
    money.

    With the right investments you can create
    money and make your own bank.
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  • Profile picture of the author SteveSki
    Originally Posted by RogozRazvan View Post

    11. Become a cult leader and ask people to donate all their money to you.
    That falls under #8

    It's taking something that already exists.... religions.... modifying them, putting your own spin on them.... and selling it.... Or you can use #3 Ride on the coattails of Jesus Christ Superstar! Or get rich by selling any other brand of religion... most are in the public domain so anyone can legally pick anyone of them and rewrite/modify it to suit themselves.

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  • Profile picture of the author FarNext
    Originally Posted by brute77 View Post

    I recently enjoyed re-reading the book "THE TEN ROADS TO RICHES- by Ken Fisher".

    It might be interesting info for some of you, people who are thinking of career change or looking for a concrete way to go about getting rich.

    Book excerpt:

    "When you get right down to brass tacks, there are only ten methodical and legal ways you can get rich.

    If you genuinely aspire to be rich, figure out which of these roads makes the most sense for you and then focus all your efforts into getting as far down your chosen road as possible.

    "Why ten roads? Why not five? Or 100? It's just the observation of this roads scholar from studying wealthy people all my 36 year investment career. I've got over 25,000 wealthy clients I've studied carefully - some for decades. As a 24-year Forbes columnist I've studied and written about the annual Forbes 400 list of richest Americans for decades - and been on it and the Forbes global billionaire list myself since 2005 - and know people on both lists in and out of America, and interacted with many more very wealthy people. From all my observation, I can tell you they all fit into ten basic categories.

    Follow one of these ten roads. Or a combination. For example, become CEO of a firm you didn't start, build it up, sell it off, use the proceeds to start your own firm, which ends up even more successful. If you can do two at once it's faster. Harder, but faster. But most wealthy folks travel one road their whole lives. That works. It's more than enough."

    - Ken Fisher



    HERE ARE THE 10 ROADS to Riches;

    1. Found your own firm and create wealth
    Starting your own firm and building it to be a successful enterprise can create some awe-inspiring wealth. This road is tough and requires courage, discipline and a thick skin as well as more than a smattering of luck but the rewards can be highly impressive.

    2. Become CEO of an existing company
    Getting to the top of the corporate ladder in a large firm can be highly lucrative. This is hard to do because you need bulletproof leadership and executive qualities but if you have what it takes, this can be a great path.

    3. Ride on a superstar's coattails
    This is a matter of finding the right person and hitching your wagon to their rising star. You do all the background things which help the superstar perform even better.

    4. Use talents to become rich and famous
    If you have the right stuff, you can parlay what you're personally good at to fame. Once you do that, you can find ways to monetize that fame and become wealthy.

    5. Marry into serious money
    Perhaps this will be an option for you, maybe it won't. The point is people have been trying to marry up all through history. If this is a possibility, go for it.

    6. Become a plaintiff's lawyer
    The lawyers who get in the middle of class action lawsuits can make very good money. Whether you're a crusader or a pirate is irrelevant. This is a way to make money.

    7. Manage other people's money for them
    Providing a great service to the wealthy and charging them a fee can make you rich at the same time as you help them get richer. Learn to sell and the rest will follow.

    8. Invent/Modify something and learn how to sell it
    If you can figure out how to sell whatever you invent or create, you can unleash a continuing revenue stream. You have to be good at marketing to make this happen.

    9. Buy and sell real estate
    There has always been money in real estate development. The key here is leverage - being prepared to take on debt on the basis of your gut instincts.

    10. Save your money and invest wisely
    This is the least sensational but the most reliable road to wealth. Work hard, save your money and generate phenomenal investment returns. Harness compound interest.

    Broadly I agree but there are more ways to get rich..
    __________________________________________________ _________


    In number 6 you say "Whether you're a crusader or a pirate is irrelevant."
    Is it legal to be a pirate? (Post title says "Get Rich legally". )
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    • Profile picture of the author SteveSki
      Originally Posted by FarNext View Post

      __________________________________________________ _________


      In number 6 you say "Whether you’re a crusader or a pirate is irrelevant."
      Is it legal to be a pirate? (Post title says "Get Rich legally". )
      First - the op of this post did not write that... he was simply quoting what someone else wrote.

      Second - While being a Pirate or Criminal is illegal... Defending one as their lawyer is perfectly legal. Matters not which one you represent... good guy or bad... the lawyer gets paid.

      Third - Who defines what is legal and what isn't? Remember government started when war lords wised up and said all this plundering by force is very hard work and tiresome for us and bad for you so how about you pay us to not attack you and we will keep other war lords from attacking you. But if you don't pay your taxes all bets are off because that is illegal.
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      • Profile picture of the author jakedenver
        "Rich" people manage their time more than their money.
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  • Profile picture of the author brzeeabi
    It is all not that easy
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  • Profile picture of the author Vevek Gahatraj
    Ya these are the proven path to success. But need to explore other areas as well which might bring fresh perspective to these conventional RULES.
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    • Profile picture of the author djent12
      Agree. Most of the mentioned tips are conventional and the common-sense ones as well as require a lot of zeal, but for, I would say, #3 and #5. Especially #5 as it goes about self-respect.

      Like the #1. Have been recently reading Daniel Yergin's "The Prize" and was really caught buy Rockefeller's Standard Oil raise. This is an excellent example of getting rich.
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  • Profile picture of the author leilani
    Thanks for the share.

    It's always great to get your head expanded after you have kept your eyeballs glued to the computer screen working on making money online activities.

    I agree with most of them. My favorites are 1, 8, 9 & 10. The real estate one is the next project.

    Leilani
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  • Profile picture of the author Nexstair
    The things is to be at the top of where you want to be.Like if you want to be a leader then prove it.As soon as you prove yourself.World is yours.
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    • Profile picture of the author Gandolfo85
      #5. Marry into serious money

      A possibility that I completely forgotten, maybe it's time to implement it to diversify my income streams...lol
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    • Profile picture of the author aniketsrivastava
      nice info... if you could become good at marketing and sales then creating ones own product/service and selling is (like many IMers do) can be a great way to earn good money
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  • Profile picture of the author jimk1970
    Program your mind to conceive greatness, feel good about yourself and realize that your only limits are bound by your imagination.
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  • Profile picture of the author Wilmer Winship
    The lottery was mentioned several times in the discussion. I guess most heard of the lottery madness with Powerball jackpot reaching over 1.5bn bucks. It's an easy and legal way to become rich. Still the chances are infinitesimal and the frenzy is driven this way: the more people buy the bigger is the pot. Frankly speaking I also bought into this "bluff" playing online (Icelotto review). It was a waste of time and money. It won't work.
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  • Profile picture of the author rosario1990
    Hey glad to know about the above 10. Don't want to keep bound myself with above 10. Need to find out another legal way to be rich. lol
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  • Profile picture of the author nsserve
    The fifth way of getting rich is the best one
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  • Profile picture of the author attackdome
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  • Profile picture of the author takticz101
    Number 10 Save your money and invest wisely Thats what im gonna go with
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  • Profile picture of the author Jan Brzeski
    I totally agree that there are a lot more different ways to get rich.

    But in this post, to me, numbers 4 and 10 are the best ones.

    Thanks for sharing this.

    Cheers!
    JB
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  • Profile picture of the author dave147
    I like 1, 9 & 10
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  • Profile picture of the author Fredzmints
    Originally Posted by brute77 View Post

    10. Save your money and invest wisely
    This is the least sensational but the most reliable road to wealth. Work hard, save your money and generate phenomenal investment returns. Harness compound interest.

    Broadly I agree but there are more ways to get rich..
    This is the one im following right now the most.
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  • Profile picture of the author Trey Morgan
    A combination of 4, 8, 9, and 10 has been working for me.
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  • Profile picture of the author videobyemail
    Originally Posted by brute77 View Post

    I recently enjoyed re-reading the book "THE TEN ROADS TO RICHES- by Ken Fisher".

    It might be interesting info for some of you, people who are thinking of career change or looking for a concrete way to go about getting rich.

    Book excerpt:

    "When you get right down to brass tacks, there are only ten methodical and legal ways you can get rich.

    If you genuinely aspire to be rich, figure out which of these roads makes the most sense for you and then focus all your efforts into getting as far down your chosen road as possible.

    “Why ten roads? Why not five? Or 100? It’s just the observation of this roads scholar from studying wealthy people all my 36 year investment career. I’ve got over 25,000 wealthy clients I’ve studied carefully – some for decades. As a 24-year Forbes columnist I’ve studied and written about the annual Forbes 400 list of richest Americans for decades – and been on it and the Forbes global billionaire list myself since 2005 – and know people on both lists in and out of America, and interacted with many more very wealthy people. From all my observation, I can tell you they all fit into ten basic categories.

    Follow one of these ten roads. Or a combination. For example, become CEO of a firm you didn’t start, build it up, sell it off, use the proceeds to start your own firm, which ends up even more successful. If you can do two at once it’s faster. Harder, but faster. But most wealthy folks travel one road their whole lives. That works. It’s more than enough.”

    – Ken Fisher



    HERE ARE THE 10 ROADS to Riches;

    1. Found your own firm and create wealth
    Starting your own firm and building it to be a successful enterprise can create some awe-inspiring wealth. This road is tough and requires courage, discipline and a thick skin as well as more than a smattering of luck but the rewards can be highly impressive.

    2. Become CEO of an existing company
    Getting to the top of the corporate ladder in a large firm can be highly lucrative. This is hard to do because you need bulletproof leadership and executive qualities but if you have what it takes, this can be a great path.

    3. Ride on a superstar’s coattails
    This is a matter of finding the right person and hitching your wagon to their rising star. You do all the background things which help the superstar perform even better.

    4. Use talents to become rich and famous
    If you have the right stuff, you can parlay what you’re personally good at to fame. Once you do that, you can find ways to monetize that fame and become wealthy.

    5. Marry into serious money
    Perhaps this will be an option for you, maybe it won’t. The point is people have been trying to marry up all through history. If this is a possibility, go for it.

    6. Become a plaintiff’s lawyer
    The lawyers who get in the middle of class action lawsuits can make very good money. Whether you’re a crusader or a pirate is irrelevant. This is a way to make money.

    7. Manage other people’s money for them
    Providing a great service to the wealthy and charging them a fee can make you rich at the same time as you help them get richer. Learn to sell and the rest will follow.

    8. Invent/Modify something and learn how to sell it
    If you can figure out how to sell whatever you invent or create, you can unleash a continuing revenue stream. You have to be good at marketing to make this happen.

    9. Buy and sell real estate
    There has always been money in real estate development. The key here is leverage – being prepared to take on debt on the basis of your gut instincts.

    10. Save your money and invest wisely
    This is the least sensational but the most reliable road to wealth. Work hard, save your money and generate phenomenal investment returns. Harness compound interest.

    Broadly I agree but there are more ways to get rich..
    Thank you for sharing this book with us and the 10 roads to get rich!
    Signature

    Norman McCulloch

    You need to have the right 'vehicle' to create time freedom.
    To see what I 'drive'... Visit here <---
    (it's getting me where I want to go)

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  • Profile picture of the author bashca03
    I am not a fan of tips numbers 2-9. Tip number 1 and 10 is the most relevant to anyone of us. Though, it requires a lot of courage and discipline.
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  • Profile picture of the author jw22777
    Hey, these are all true ways of making some serious money.
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