Question: What does it take to become wealthy or have an abundant amount of money?
Answer: You need a skill, talent, or ability which the market demands. You must respect the value of a dollar, long term.
Very few people on this planet are "rich." Most wealth is the product of inheritance, and tax advantages purchased by the rich from crooks in Congress to get rich families written out of the federal tax code (Kennedys, eg.) Nice, eh?
The self-made rich are typically of 4 basic sorts: exceptionally hard-working people obsessed on a single focus (Henry Ford, workaholic); brilliant folks with a drive to make money (Thomas Edison, Howard Hughes, idea-holics); white collar criminals too smart for law enforcement (Bill Gates, idea thief and lawsuit-endurance king); outright criminals (very smart folks who deal in very ugly crime like drugs and corruption of government). Some are a combination of these. If you want the money bad enough, it's there. You just need to decide what you're willing to sacrifice to get it.
Another critical part of the equation is that you must love HAVING money more than spending it. You can't give it away, you can't lend it out to idiots (they never repay, and neither does God for your generosity. Sorry), and you must deprive yourself of everything other than the bare essentials.
Understand the markets (read the WSJ cover to cover every day for 6 months!), and the power of compound interest, If you need to hire a financial advisor, you'll never get rich (that's your job), but you could have a comfy retirement.
Notes: BUY only things that increase in value over time, and lease things that decrease (Getty). Buy important things once, or you'll be buying them forever. Every nickel possible must be a long-term investment, and not an expense. If not, don't spend. Rid yourself from impulse purchasing, and don't shop to soothe other pain.
Never use credit save in the course of business wherein the value of the assets purchased at interest exceeds the cost of credit.
Never be afraid to negogiate when appropriate. When possible, use a proxy to remove the personal aspect.
Avoid situations where gratuities or charity are expected. Save that for when you're so rich you have nothing else to do but give it away.
Keep a complete ledger and account for every single cent (JD Rockefeller). Budget from there.
You can be rich if you do these things.
Good luck!
Others:
Whaddaya mean "so much money"?From where I sit, it looks like a huge amount of it just up and evaporated over the last year or so.
As in almost all cases, money is associated with being able to provide a product or service that someone wants.In some cases, education will prepare you to do that. In others, being creative and having the discipline to work will lead you to the desired financial rewards.
Of course, when some people get rich, they lose their happiness, so be careful.
It takes tons of hard work.
You have to work hard, to earn it.
But money isn`t everything.
if YOU have a good life, a great family, great friends, money should`t be anything. Because the best things in life are free.
Money can`t buy love.
in fact, it can only satisfy you for a while , then it will all be gone.
You didn't know? People are poor because they are lazy and make poor decisions throughout their lives...why, most people who are wealthy had to start at the bottom and are able to just come from nowhere, not knowing anybody, and end up being self-made because they worked SO hard! ;)
Well the reason you don't have money is because you're not in god's favor. Pray more and donate your money to the poor.
Saving money . or somtimes inheirting it. Working Hard for it. Getting a good job.
Drive, motivation, ambition, heart, education ............................so on.
You need connections and the right time, right place and a whole lot of hard work unless your are heir to a fortune.
A black friend of mine said she was gonna turn rich soon.I told her I was gonna turn 27 in 6 months.
ehh ask George Bush..
i feel your pain