How to get rich in America? If you aspire to become one of the wealthy in America, then find out with us in this article the best ways you must follow to be rich and know the best profitable industries in the world.
Getting rich in America means that you have to work hard and seize opportunities, and the United States of America is the land of dreams and opportunities for a large number of people, and it has access to the wealth you desire. And reap huge amounts of money because of its booming economy and rich labor market, and the use of the latest technology methods.
Many of the owners of wealth in America started with modest steps until they reached their goals, and in the United States of America you have to be smart in choosing the right life path, and your financial choices in order to become rich with the necessity of work and great dedication to it.
The problem with the idea of getting rich is that it takes a lot of time and effort unless you were born into a wealthy family and a large inheritance passes to you. In other words, reaching the stage of wealth in America depends on the smart mind, experience, skills and hard work in addition to financial diligence.
The United States of America has a large number of billionaires, as former US President Donald Trump is one of the richest men in the world, as well as Jeff Bezos, who runs the giant Amazon, Microsoft founder Bill Gates, and Mark Zuckerberg, founder of Facebook.
How to get rich in America
According to members of the Forbes list, the 400 richest people in America have a net worth of $2.96 trillion, and have made their fortunes from building successful companies, buying sports teams, industries, real estate, and more.
Here are now the best ways to get rich in America:
1- Undergraduate scholarships
You can apply for university scholarships, and attending a university in America is possible for everyone as there are many sufficient financial resources to help pay for it.
College helps give you the training needed for a well-paying job, as well as connects you to valuable networking resources. Money and the least possible investment of time.
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2- Investment Policy
Adopt an investment policy by putting a small amount of money aside every week and every financial quarter. You can put this money in high-risk stocks, and despite the possibility of losing money, these stocks return the largest gains.
Before investing, look for companies and start with a small company that meets the needs of the market, and you have to monitor stock prices and determine the appropriate and good times for buying and selling.
3- Safe accounts
Put the money in safe accounts and government banks, and although it will return you money less than gambling in the stock market, using this method ensures that you keep your money without running into risk.
4- Real estate
Invest in real estate and buy dilapidated homes from oppressed areas, and this can pay off if you have the time and effort to restore them.
You should look for areas that are experiencing economic downturn but have not strayed from respectability, and if a high-end business is being built nearby the area is likely to be revitalized in later years.
Buying a home at a low price and getting it back can give you investment capital in a short period of time, and real estate is one of the tried and true ways to make money, and there are about 34 billionaires in the field of real estate.
President Donald Trump is the most famous billionaire in this sector, and Donald Breen is the most successful in real estate with a fortune of $17 billion.
5- Build your own business
You have to find a way to work on your own after getting experience in a professional life, and try to start your own business and be able to enjoy the profits so that they do not go to shareholders.
It has been shown that people who own their own business can generate wealth faster than people who are employed by others.
6- Pay off debts
Avoid paying debts in general. Debt is not necessarily bad in all cases, but it is necessary to avoid it. For example, student loans can be useful if the capital and interest rate are normal and help in practicing a profitable profession.
Student loans are bad if the numbers don’t work in your favor, and credit card debt is an expensive debt and takes priority over student loans.
7- Reducing costs and spending
If you want to get rich, you should reduce your costs, and be organized in the spending process, and this step should be one of the first things you should do, and deliberate spending and reducing your costs requires you to keep an important budget.
You have to keep track of exactly how much you are spending, and a salary spending checklist can be made upon receipt and this includes setting aside money for debt reduction, fun, savings and emergencies.
Reducing costs as much as possible is the goal that you should strive for, in order to invest this money in order to build the wealth you desire, in other words, you have to fight fiercely in order to reduce your life costs and in order to save about 25% of your income.
8- Adopting the finance and investment industry
The most common way to make money and create wealth is through the finance and investment industry, and about ninety-three billionaires and 24 percent of Forbes 400 members make their money through the investment process, through private equity, and through hedge funds.
The finance and investment sector resulted in the largest number of billionaires on the list, and it is possible to play in the money market and make huge deals.
9- Social networks and the world of programming
Creating a new social network or entering the world of programming and technologies is a good way to earn billions, and there are about 69 billionaires in the field of technology.
The industry is linked to about 17% of the list, and the richest man in America is the founder of Amazon named Jeff Bezos, who has a fortune of 114 billion dollars, while his ex-wife Mackenzie ranked 15th, and the largest fortunes are made in the field of technology, where seven of the ten richest people in the world from America, and built their fortune through the technological industry.
10- Food industries
Processing, manufacturing, selling and marketing of food and beverages is one of the good ways to earn wealth as all people eat and drink, and a lot of money can be made through this process.
About 41 billionaires have made their fortune through the process of feeding people, including Stewart and Linda Resnick, whose company Wonderful Co. is the largest producer of almonds and pistachios.
The industries that generate the most profits according to Forbes list:
Top 10 Industries of 2019:
- Finance and investments and includes 94 billionaires, 23.5% of the list.
- Technology and has 69 billionaires, 17.25% of the list.
- Food and Beverage, 41 billionaires, 10.25% of the list.
- Real estate includes 34 billionaires, 8.5% of the list.
- Fashion and retail, with 33 billionaires, is 8.25% of the list.
- Media and entertainment, with 27 billionaires, 6.75% of the list.
- Energy and has 24 billionaires, 6% of the list.
- The service has 16 billionaires, 4% of the list.
- Sports and includes 14 billionaires, 3.5% of the list.
- Manufacturing has 12 billionaires, 3% of the list.
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