How to Become Rich Someday

Become Rich Someday Step 16 Version 4 scaled

Become Rich Someday Step 16 Version 4

About This Article

Benjamin Packard

Co-authored by:

Financial Advisor

This article was co-authored by Benjamin Packard. Benjamin Packard is a Financial Advisor and Founder of Lula Financial based in Oakland, California. Benjamin does financial planning for people who hate financial planning. He helps his clients plan for retirement, pay down their debt and buy a house. He earned a BA in Legal Studies from the University of California, Santa Cruz in 2005 and a Master of Business Administration (MBA) from the California State University Northridge College of Business in 2010. This article has been viewed 1,139,232 times.

Co-authors: 123

Updated: July 23, 2021

Views: 1,139,232

Article SummaryX

There are no easy short cuts to getting rich, but by saving money and improving your education, you can increase your chances. Create a budget so you can save money every month by earning more than you spend. Your first goal should be to create an emergency fund, which should be around 3 months of your salary, to cover unexpected events like losing your job or a medical emergency. Once you have an emergency fund, you can invest additional savings in stocks or bonds to create more wealth. Another way to get richer is to get an education. People with a college degree earn on average more than those with a high school diploma, so attend college if you can. If you’re already working, take opportunities to upgrade your skills through job training or a college program to boost your earning potential. For tips from our Finance co-author on on how to invest in exchange transfer funds or mutual funds, keep reading!

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