Get-rich-quick schemes are often associated to scams. Getting rich in quick way is not really quick indeed. Although there are some instances you think may accelerate the growth of your wealth, it may even result to loss of your money. Many people fall to scams due to lack of proper financial education.
They want to get rick quickly in the wrong way. Even the richest people in the world like Bill Gates and Warren Buffet, didn’t get rich instantly. They were able to build up their wealth in years of hard work, right investment decisions and perseverance.
It may take many years to see your wealth increase. However, you can make it faster once you’ve learn to buy assets and not liabilities. According to Robert Kiyosaki, best selling author of Rich Dad, Poor Dad, assets are those you buy that puts money to your pocket while liabilities are those which takes away money from you. From this definition, you can see that there are many assets which you can buy so it will put money to your pocket.
Assets can be mutual funds, stocks, real estates that you lease, business or any investments that gives you income. Assets can give you passive or active income. On the other hand, liabilities can be your house, cellphones, cars, electronic gadgets and appliances that makes you spend your money.
In reality, you can’t really avoid to buy liabilities because some of it are necessities in life like your house, clothes and appliances. The important thing is to set highest priority in buying assets rather than liabilities if you want to get rich quickly.