What is the fastest way to get rich?

[Mika]

Here are some options you can explore. I have also shared the pros and cons of these methods.

#1 Start your own company

Pros: You have an option to grow really big by continuing to reinvest your profits.

Cons: There is a lot of work to do, but there is also a huge risk involved.

#2 Invest in other companies or businesses through the stock market or direct investment

Pros: Not only your stock price will increase, but you will also earn from dividends.

Cons: If you don’t know about the stock market and don’t know how a business operates, you are ruined

#3 Invest in Mutual Funds

Pros: A fund manager will invest your money in profitable areas and make money for you.

Cons: Mutual Funds are also subject to market risk. They are not full proof.

#4 Put your all money in a fixed deposit

Pros: You can compound your savings and get maximum return.

Cons: The rate of return is small, the maximum you can get is 12 percent per year.

 

[Sotherefore]

Thank you for sharing. I Understand all what you posted perfectly , but at the end of it you will still have to go through the normal process of building wealth which will not be something very quick.

Even if I have to start up a company now , I have to be thinking of the best way to raise the needed capital to run the company successfully because capital is one of the most important thing here.

Apart from the capital , even if I have to establish a company , the company will not just start generating quick profit , it will require a lot of time to build up the necessary trust needed to start generating enough profit. No matter what we may do we shouldn't expect it to be a get-rich-quick scheme but should be a way of building wealth slowly. If we focus mostly on the profit aspect of a business we may likely miss a lot of opportunity and sometimes such business may not be successful