Kenneth Fisher – Author of The Ten Roads to Riches
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. . . . . . . . . . . . . Most people have never really thought through, logically, the landscape of how people get rich, and the different ways, the positives and negatives of each, and how that might apply to them. Books about getting rich are mostly about some version of what I refer to as “The One Road Among the Ten Roads”, known in my book as “The Road More Traveled”, the most common way people get rich, which is the “Save, be frugal and invest well.” The road may be easiest for you because it fits you. And one of the reasons to read the book is because I go into a great deal of detail about what’s necessary on each road, what it takes, what it doesn’t take, examples of people, both famous and not famous, with it gauged in the process, and you get to see what it takes to do that and you can decide for yourself, is that going to be something that’s mre easy than another road for you individually. One really basic road is starting a company. The very richest people in the world started a business. Another is to become the CEO of an existing business. A third is a category that I define as a ride-along. This is the person who’s always there for that person and as that person succeeds, gets pulled to riches. Then, a perfectly obvious road that most people laugh about whenever I mention it, but is to marry well. People have married well forever, and I’m not talking about marrying somebody you don’t like for money. I’m talking about how do you marry somebody you love that has money. How to be a celebrity for money. Another is simply the process of inventing income. The chapter teaches you how to invent concept of income. Another is to become a real estate baron. That’s perfectly obvious. Another is what I call “Stealing it legally”, which is how to be a plaintiff lawyer. Then there’s simply “The Road More Traveled” as I refer to it: Be frugal, save, invest, get a good return. Then there’s what I refer to in the chapter as OPMers. This is other people’s money. Other People’s Money is the entire realm of managing assets, being a banker, being a stock broker, hedge funds. It’s the whole world of something to do with collecting a fee from doing something dealing with other people’s money. So those are basically the roads. They offer a wide diversity of opportunities and therefore, because it takes varied skills to do these things, they address a wide array of different types of people who do them. Starting down a road doesn’t mean that you have to commit your whole life to it forever. Starting down the road allows you to see: “Is this something I like?” “Is this something I do well?” “Is this something that fits me?” and “Am I succeeding at it?” And if you are, and if you do, then you keep pushing that further and you stay on the same road. If not, you try over again. And the book is full of examples of people who tried one, failed, came back, tried again. If you look at the people that have become mega-wealthy over time, they became mega-wealthy over times of both boom and bust. There’s nothing about bad times that precluded people from going down any of these roads. Many, many people can get rich, who have never thought they could, simply because they didn’t know how. . . . . . . . . . . . .
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