Monday, November 25, 2019

What are some realistic ways to get rich in 5 years? I'm 25 now and want to hit around 200k USD by the age of 30. What are my options?

While going through in detail discussion about How to get rich ?
I find very useful article as an answer on Quora shared by Mr. Barun with his experience.

Lets have a look into it:

Do you have 5k?
If yes, I have a realistic plan for you to make it 200k within 5 years without doing a job or business or freelancing.
Before that I want to put a question over here.
If I show you a way, will you do that?
You might ask, if it is possible, then why not everyone doing it?
If you are living in India, you might agree with me,
We live in a society where nobody wants to get out of his/ her comfort zone.
People want to do hard work. We have been taught hard work pays the best.
But, what I believe is that’s not the way things works.
You can’t get rich from a job.
Why?
Because the more you earn, the more you spend to show your social status.
Everybody wants a piece of your earning. From your family members to government.
Your boss knows it. You can’t leave the job because you don’t have a back up plan and you want the same lifestyle.
That’s why he tortures you OR pampers you so you can work more for him.
Then, what is the solution? How can you make an escape plan while doing your job?
Let me tell you my real story.
When I shifted to Gujarat last year, I went to purchase some of mine daily stuffs with my Gujju friend.
It was a supermarket.
There was so rush that we had to wait for almost half an hour to check out.
I said my friend “I think it’s new. That's why there is so much rush.
He said “No. no. The company is doing great.
That clicked my mind.
I came to my place and researched a bit about the company “DMART”.
I asked my friend who has a great financial planner that “Will this company do great? Should I invest?”
He said “Damani Saab ki company hai Bhai. Lagade paise”. [It’s Mr. Damani’s company. You can invest.]
I invested some amount. And I doubled it within a year.
This is what you can do also along with your regular job. This might be an escape plan for your future.
Now,
Coming to your question “What are some realistic ways to get rich in 5 years? I'm 25 now and want to hit around 200k USD by the age of 30. What are my options?”
You have only one option that is called “Stock Market”.
I have done a calculation for you if you have 5k in your hand.
If you invest or trade, whatever you want to do, do it but you need 110% return per year.
This is quite possible with stock market. See some shares below which gave the best return last year.
If you have 8 years in hand to make your 5k to 200k, it is quite possible.
Now,
To my question, “Then why not everybody is doing it?”
  1. You don’t want to get out of your comfort zone.
  2. Rich always want to control the poor. “That’s why they don’t want you to get rich.” Does your boss want you to be in his position? No.
  3. Nobody shares the secret after getting rich because they don’t want you to have more control than them.
My last question “Why does you bank give you only 7% on fix deposits?”
Your bank is cheating you.
Bank takes your money. Invest it on stocks and get richer.

[Disclaimer- The above mentioned stocks/ companies are just for informational purpose as per my experiences. Those are not recommendations. ]

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