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Aside from inheriting money or winning the lottery, there are two basic ways to accumulate wealth.

1. Have your money earn more money for you
The nice thing about money is that it never gets tired. It can work day and night forever and ever. Take advantage of this and start investing. Get your money to start making more money for you.

Investing does not have to be scary. It just takes research. For instance, if you look at the history of the S&P 500 stock market index from January 1, 1975 to December 31, 2007, the average return was 10.74%. If you had invested $100 a month in this index over that entire period, the total amount of money you would have put in would have been $38,400. However, the total value of your investments would have been over $337,000

That is quite a bit of money for hardly doing any work yourself!

2. Buy or build a business or asset that can earn you money even if you are not there to run it
Any business you own that can be managed for you by other people fits into this category. A good example would be the franchise restaurant McDonald’s. Owners of these types of businesses earn money day and night whether they are on the job or not.

If you do not have the money to start a full-time business or franchise, start something part-time and build it up slowly.

I will start off this section by seeing if you can complete this sentence.

“Study hard, go to college, get a degree, so you can______”

If you answered, “get a good job,” you listened well while you were growing up.

The problem is that this method of thinking is what actually prevents most people from accumulating wealth.

If you are working at a job, you can earn more money in only two ways:

1. Working more hours
2. Getting a pay raise

Unfortunately, getting a raise usually means more responsibility and more hours at work.
So what’s the big secret to becoming wealthy without working more hours?
The short answer is: Have something or someone else do the work for you.
Don’t worry, there’s nothing underhanded or illegal about this.

The last and final step to building your financial house! Congratulations if you have made it this far. By now you know
how to enjoy greater financial wealth and security and are hopefully putting your new knowledge into practice. You have a new financial home, but now it’s time to put the final touches on your house.

Making more money is like buying accessories for your house. Here you get to add landscaping, decorations, new appliances, new furniture, etc. — basically, all the fun stuff. The more money you make, the more accessories you can buy. And of course enjoying all the extra financial freedom that comes with earning more money is a nice benefit as well.