Photo: KnowInsiders
Photo: KnowInsiders

Don't we all want to become rich?

But for some, this is a dream that will never come true. For others, it's just a matter of time and effort.

There are many ways to get rich- some easier than others – but if you're not careful, achieving wealth can be as difficult as becoming poor in the first place!

So how do you become rich overnight? In this article, KnowInsiders is going to share my thoughts on what one has to do in order to become wealthy without too much work or hassle so that they can live an extravagant life full of luxury! Let's get started.

What Does Being Rich Mean?

So you want to get rich?

What does that really mean?

For some people, being rich means having a lot of money. But for others, it's about enjoying life and doing what you want when you want to do it.

Ultimately, being rich is relative. If you want to spend money eating out at nice restaurants or traveling the world, most people would say you have to be rich. But if your idea of being wealthy is having a family and home – then you might not need to be rich.

How to Become Rich Overnight

1. Invest in Information

The power of information is an open secret of which impatience and indiscipline have rendered people’s minds incapable of appreciating. Yes, getting informed demands patience and some kind of discipline. Just like a politician always spend time on the newspaper, whatever field or business you are operating or intend to operate on, you need to invest in the information.

Information gives you knowledge which is power. Information gives you a better understanding and aids you in appreciating threats and opportunities in your field. Also in this digital era, get digitally informed. A businessman for instance who has access to information knows when best to stock goods, he understands the market when the price of the commodity is likely to appreciate or depreciate.

Check out all the notable rich men around and observe how keen they are on information. He has uninterrupted access to information. Whenever you consider venturing into a new field or area, first of all, get informed.

2. Do something crazy that people love

Photo: Compounding Pennies
Photo: Compounding Pennies

Based on precedence, the fastest and surest way to become rich overnight is actually by doing something crazy that people love. In today’s world, people can pay any amount of money to see you do something that is actually mind-blowing or something that has not been done by anyone else before. Usually, the question is “What can you do that has not already been done before?”. Well, the truth is that you must not do something totally new. Adding some uniqueness can actually make you popular and become rich overnight.

It is pertinent to also note that, to remain rich after doing something crazy, you must be able to consistently blow people’s minds with that thing you have been known for. Let’s take, for example, you made a YouTube video that made people laugh and you became rich and popular. To remain in this position for a long time you must also be able to release more of the funny content that made you rich else people will lose interest and they won’t want to pay for what you do anymore.

It should also be noted that doing something crazy, doesn’t mean you should do something bad. Of course, that is capable of making you popular but it will definitely not make you rich overnight because people only pay for striking things that make them happy or interest them.

3. Availability: Availability is equal to opportunity

When you make yourself available and accessible, you are always remembered at a slight opportunity for a recommendation. Nowadays some persons prefer to be on a low key. You are an entrepreneur but you choose to be under the surface when it comes to availability and accessibility.

Yes, people take glory in being scarce and unavailable. As scarce as you remain, that is how easily you get forgotten whenever there is an available money-yielding contract, position or opportunity of which you can be recommended. When there are such opportunities, people tend to remember those who are available. Therefore, remain available, accessible and reachable.

Be reachable through your phone line and your other Media. Maintain one sim card. This is not the era when people switch off their phones because they want to sleep. Stay connected at all times.

4. Networking and Socialization

Photo: csuf prssa
Photo: csuf prssa

The earlier we acknowledge the fact that human beings are economic tools, the richer we tend to become. This does not in any way suggest that humans be used as a tool or objects. It is through our fellow human beings that we get opportunities.

Men are gifts unto themselves. Do you wish to attain richness when you know no people? And how do you get to meet people? Socialize! In every opportunity you encounter, every place you find yourself, maximize it and try to get interested in people. Getting interested in people does not in any way suggest that you get nosy into people’s affairs. It ordinarily means to meet people, strike a relationship with people, and make an impact on people’s lives as much as you can.

Do not stay within your four walls and be a loner. Join associations, organizations and unions, belong to places. Don’t be a spectator, be a participant. This act of socialization is a skill that seems to be underrated and neglected as to its impact on people’s economic status. People tend to do and trust a business with people they know or have met, although not always the case. The more people you meet the more opportunities for you.

Being an introvert is not an excuse not to meet people. If you find it difficult to socialize, certain books help improve you on that, after all, socialization is a skill that can be acquired. I recommend you read, “How to Win Friends and Influence People” by Dale Carnegie, an effective practical, philosophical and psychological approach to getting people around you and being likable. Being rich is not magic. There solid are foundations to be laid first in order to skyrocket.

Networking goes handy with socialization. Networking involves establishing relationships with people of mutual interest through interaction and the exchange of information. Networking opens you to unimaginable opportunities that can change and sustain your career.

5. Being Innovative

Being informative contributes to helping you become innovative. In whatever field you are operating in, be innovative. Innovation involves the creation of new and unique ideas and inventions. Innovation involves being futuristic and looking forward in time as opposed to being conservative.

Have a policy that distinguishes you from the normal thing others are doing. Innovation is a process of improvement. Just as society evolves, so as your business should. In all, be consistent. Being consistent demands that you maintain the degree of what you do while being patient.

Be trustworthy. Be calculative, live life according to your means, have a financial plan, try initiating other means of income. Having a saving skill is an added advantage.

Being rich is one thing, staying rich is another. There are still means by which one can legally get overnight.

6. Inheritance

One can become instantly rich by legally inheriting the wealth on another either customarily, by will or by honor.

7. Court Award

Upon instituting an action in court, parties do seek damages. The court awards such damages and cost if it deems fit upon the determination of the suit. Sometimes monies awarded can be so big as to render the judgment creditor rich overnight. However, a person who is not financially stable may be unable to afford legal services.

8. Lottery

Lottery games bequeath immediate cash on a winner, thereby making such a winner rich overnight depending on how much won. However, most times the winner had already spent doing a lot of attempts before winning eventually.

9. Real Estate

Real estate is a booming business that gives quick money. However, it demands a lot of money to begin and progress. Getting a start loan from the bank won’t be a bad idea. Selling personal land can as well yield one a start fund. Being a real estate agent also yields immediate cash.

The work of an agent of real estate is to advertise and secure buyers for landed and other properties which are put up for sale or rent. Upon securing a buyer, they get their own commission. The commission is usually a fixed percentage which is always large, depending on the policy and location.

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Best Ways to Become Rich Fast

Learning how to become rich overnight can take some time – but by using some of the methods below you can achieve financial freedom much faster.

Invest in Stocks

Investing in the stock market is one of the most reliable ways to achieve financial freedom and get rich.

However, it's likely not going to happen overnight unless you pick an individual stock that takes off.

Many rich people swear by investing in the stock market because it provides strong returns with relatively low risk.

Unless there is a major market crash – your money is likely to grow exponentially each year. This is the prime example of making your money work for you.

Invest in Real Estate to Build Wealth Fast

Real estate is a great way to get rich and build wealth while diversifying your portfolio.

Many wealthy people choose to invest in real estate for a variety of reasons.

Real estate can make money through multiple methods.

For example, if you own rental properties, they can earn money in three main methods:

► Rental income

► Appreciation

► Equity

Invest in Cryptocurrency to Become Rich Fast

Photo: The Global Coverage
Photo: The Global Coverage

Cryptocurrency is highly debated among people in the personal finance community but some people swear by it.

As it becomes more mainstream, many coins will likely increase in value and can help you become rich overnight.

However, with this type of alternative investment, there is also significant risk. Before investing be sure that you can afford to lose the money.

If you're looking to start investing in cryptocurrencies, I recommend using Coinbase. This platform is an easy way to start purchasing all of the most popular cryptocurrencies to grow your income streams.

Joining a Multi-level Marketing Company (MLM)

Have you ever heard of Young Living, an essential oils company, Herbalife, a dietary supplement company, or LuLaRoe, a clothing company? All of these are multi-level marketing companies or MLMs.

Often touted as easy ways to get rich quickly, work from home, and run your own business, you should be wary of MLMs. These companies often target women and, in particular, stay-at-home moms. They are not the get-rich-quick businesses that so many promises to be.

How do MLMs work? When you join one as a “distributor,” you usually have to purchase the company’s inventory upfront and then must sell that inventory. Sounds straightforward, right? Well, while you can make a little money selling the inventory, the real way to make money in an MLM is by recruiting new distributors underneath you. Then, you make a commission based on their sales.

The main problem with MLMs is that you are forced to purchase a lot of inventory upfront and it is often very difficult to sell. This leaves you stuck with excess inventory that you’ve spent a lot of money on and no income.

Sounds bad, right? Well, if you need some hard evidence that an MLM is not a way to get rich quickly, here it is: a report commissioned by the Federal Trade Commission in 2017 showed that 99% of participants in MLMs lost money.

Day Trading

Lastly, you might have heard that day trading is a sure-fire way to get rich quickly. What is day trading? It’s a volatile and risky form of investing. Day traders purchase and sell securities on the same day, usually on the foreign exchange (forex) market or a stock market, hoping to make a profit.

For example, a day trader might purchase stock in the morning at a low price and hope to sell it later that day at a higher price. The catch is, if the price of the stock goes down before they sell it, the trader suffers a loss.

Successful day trading requires time, knowledge, and excess capital reserves to cover any losses. Needless to say, it is risky and is not as simple as it is sometimes presented, so it’s generally not recommended for the average investor.

Another thing to watch out for when it comes to day trading is MLM forex scams. Yes, the same MLMs that sell essential oils and leggings also dabble in day trading. Specifically, forex trading, which is a form of day trading.

Getting rich takes time and patience. Slow and steady methods will almost always beat out a quick fix. There’s nothing glamorous about the following tips but, guess what? They work. If you follow this advice, you won’t get rich quick, but you will get rich. And that’s the end goal, after all, isn’t it?
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