How to Get Rich Quick in 5 Easy Steps

Last Updated: February 06, 2021 5 min read
Author: Zach L.

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Are you looking for the fast track to a wealthy life and how to get rich quick? Check out these doable steps you can start today to improve your odds of getting rich.

How to Get Rich Quick in 5 Easy Steps

You can get rich quick if you are determined and are willing to put in the effort.

First, let’s change the definition of “get rich quick”. You can quite possibly start making six figures in just a year or two. It’s entirely possible for anyone that is willing to put in the effort and is relentlessly moving forward.

Is that fast? I would say so. If the average person lives to be 70, 1 or 2 years is a paltry trade in comparison.

Now, if you’re looking to win the lottery, and have millions of dollars in your bank account tomorrow, this isn’t the article for you. Plus, that’s a one time gig. Most people that have a giant windfall squander it and don’t end up being rich for long.

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How to Get Rich Quick in 5 Steps

Do you want to stop worrying about money and be wealthy? This is what you need to do:

1. Set Financial Goals

You need to know your why behind being wealthy, or financially independent. What is your end goal, how much money does that require, and how are you going to get there?

Your goal can be anything, a dream vacation to Europe or financial independence. The important thing is that you set a goal and an actionable plan on how to achieve it.

If you don’t have clear financial goals, you will be sitting there spinning your wheels.

2. Learn How Money Works

Have you heard the story of the kid from Rich Dad Poor Dad?

Robert was being paid to clean at his friend’s Dad’s convenience store. Robert would take the hard-earned money that he had just worked hours for and buy comic books. Robert quickly grew tired of working Saturdays and was on the verge of quitting.

Robert then talked to his friend’s Dad, and his friend’s Dad then explained that he didn't work for money, but did what he loved and made money work for him.

Robert and his friend started to think and observe. They found a way to get comic books for free and started a comic book library. Each week they made over 30x the money they had been earning cleaning the convenience store, and loved every minute of it!

Now you probably aren’t going to start a comic book library, but you can still learn how money works. You can achieve a good start on this in less than a weekend.

What you need is the #1 Personal Finance Book in the World, Rich Dad Poor Dad by Robert T. Kiyosaki.

Rich Dad Poor Dad is an easy read and the principle taught are crucial to understanding money. It will show you how money works, how to get rich quick, and that anyone can do it.

3. Start Investing as Early as Possible

Even if you think that you don’t have enough to invest with, you can start small. You can use Robinhood, or a similar investing app to start today.

Every dollar needs to be put to work as soon as possible. If our dollars are sitting on the couch, they aren’t out there making us more and more dollars.

The earlier that you start investing, the quicker you’ll find yourself in a secure financial position.

For example, if you start investing $500 a month from the age of 20, by the “normal” retirement age of 65 you will have approximately $2,668,785!

How to Get Rich Quick in 5 Easy Steps chart 1

However, if you start investing $500 a month from the age of 30, at the age of 65 you will only have $1,157,970. That is a difference of $1.5 million dollars!

How to Get Rich Quick in 5 Easy Steps chart 2

If you want to chart your own numbers the US government created an easy to use calculator for compound interest that can be found here.

4. Diversify your Income

Start a side hustle, a business, or a hobby that makes money to secure income streams outside your day job.

Not a single wealthy person I know got there by working for someone else. Most people get rich quick by starting a business or a side hustle.

Start to research all the options and just get started! There are plenty of opportunities out there, you just need to pick one and start!

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5. Never Stop Learning

If you aren’t swimming you’re sinking.

Let that sink in.

You need to be constantly bettering yourself and learning more and more. Why do you think that the wealthy are continuously reading books? It’s not like they can’t afford other hobbies, they are bettering themselves and learning every day.

Continue to invest in yourself, the return on investment when investing in yourself can’t be beaten!

Conclusion

Let’s be real. You probably won’t get rich overnight.

But if you:

  1. Set Financial Goals
  2. Learn How Money Works
  3. Start Investing as Early as Possible
  4. Diversify your Income
  5. Never Stop Learning

One day soon you’ll find yourself a very wealthy person. That day will come sooner than you think!