We see many videos online about how to get rich quick, and if you invest in their program, then you, too, can be rich quick as well. We all want to get rich, which is understandable. Building wealth allows for an easier life and creates more opportunities. Many people believe that you need a high IQ, a big degree from a fancy college or a wealthy family to become rich. Robert Leonard of The Investor Podcast Network says that is not the case.
Robert explains that there is no way to get rich quick; it’s actually very simple to get rich. No, it isn’t easy in terms of the psychological, financial and behavioral aspects, but the principles, process and strategies to get there are straightforward and simple.
Do what you love
Do what you love, understand and believe in; if you’re doing something you don’t like, you will fail. People who invest their time into work they don’t like will have no energy or the motivation to work on their investments. For example, if you don’t enjoy real estate, then don’t do real estate. There are other ways you can invest your money into properties without holding onto a physical building. You can invest in REITs in the stock market, for example. Doing what you love will make your life and work 100 times easier, which inevitably will result in higher returns.
Invest in the long-term
Roberts’ number one piece of advice is to think long-term — five to 10-plus years. His reasoning is that the short-term is very volatile. You will see all markets in the short term are always volatile, but if you zoom out of the charts, you will see a slow uptrend over many years.