I see a lot of people throwing their money away buying lotto tickets in the hope that they will get rich. I pity them, because their only hope of wealth is for their numbers to come up (which is highly unlikely), but I know the secret of how to get rich without winning the lotto. If you want to throw away you lotto tickets and still get rich then read on.
I have heard it said that the lotto a way of collecting taxes from people who are bad at maths. The lotteries generally only pay out 30-40% of what is put in, and a lot of that is in smaller prizes. The chances of you actually winning the major prize are often less than one in 50 million. Not something you can go to the bank on. The game of lotto is designed for people to lose, so it is not a good way to get rich.
Not to mention the fact that the majority of people who have won the lotto have found themselves worse off within 5 years. I don't know the exact percentages but the amount of people who go broke is mind boggling. It goes to show that it is not money that makes you rich, but it is what you do with your money that makes you rich.
You don't have to earn a lot of money to become rich, and you also don't need your numbers to come up in order for you to become rich. Anyone can become rich no matter how much they earn, if they decide to manage their money well. It is what you do with your money that makes you rich, not how much money you have. Poor people buy things that makes them poorer, and the rich get richer because they buy things that make them richer.
Here is the secret. The rich get richer because they know the difference between assets and liabilities and they buy assets. Let me tell you the difference. An asset is something that puts money in your pocket whether you work or not, and a liability is something that takes money out of your pocket whether you work or not. An example of an asset is a rental property where the rent brought in is greater than all of the expenses, so it puts money in your pocket every month.
If you want to become rich without winning the lotto then all you have to do is spend your money buying assets. The best thing about this is that as soon as you start doing it then it becomes easier and easier. The first asset is the hardest because you know the least, and you have to work hard to save the money to buy your asset. But once you buy your first asset your income increases, and you can use your first asset to buy your second asset. So as soon as you get started it becomes easier and easier as your income goes up and up (as you work less and less).
The great thing about buying assets is that it generates passive income (income you don't have to work for). So the more asset you buy the more money you will earn and the less you will have to work. You will have the freedom of time AND money to do exactly what you want with your life. Now doesn't that sound better than waiting your whole life for your numbers to come up?
The first step towards becoming rich is not to have a lot of money, but it is to be financially educated. There are a lot of people with a lot of money who don't know what to do with it. Because of this they get below average returns on their investments and they buy liabilities which costs them money every month forcing them to work harder and harder just to keep their head above water. If you get financially educated then you don't need a lot of money to become rich. When you are financially educated you can make a lot of money using very little of your own money.
