The Roads To Riches According to Ken Fisher

Are you tired of being a mindless consumer that spends crazy amounts of money on things they do not need? How about those people that have those so-called million dollar ideas that will make them rich? Are you ready to take control of your life so you are living the high life on an island?

Now, for the most part, whenever you hear someone saying this you should turn and burn (if you have worked for a company like this you should be familiar with this term). Most of the time when you hear these claims to getting rich they usually come with problems on the back end.

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The horrible truth is – and believe us it is hard to swallow – unless you win the lottery you are not going to make money faster than anyone else. It takes time and patience to get to where you want financially. Instead of falling for a horrible scam take the time to do your research. Most of the time you will be able to find useful information that can help that is free.

Take Ken Fisher for example

If you are not familiar with Ken Fisher, he founded money management firm, Fisher Investments, in 1979 with only $250. According to Forbes, the assets of the company have climbed to $65 billion. Personally, Fisher is worth $3.6 billion, as well. It is safe to say Mr. Fisher knows how to make a dollar or two.

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In his book, The Ten Roads to Riches: The Ways the Wealthy Got There (And How You Can Too!), Fisher explains the quick and dirty ways you can make money in ten chapters short chapters. They are fairly straight forward, as well:

  1. Found your own firm and create wealth.
  2. Become CEO of an existing company.
  3. Ride on a superstar’s coattails.
  4. Use talents to become rich and famous.
  5. Marry into serious money.
  6. Become a plaintiff’s lawyer.
  7. Manage other people’s money.
  8. Invent something and learn how to sell it.
  9. Buy and sell real estate.
  10. Save your money and invest wisely.

Some of them are quite funny when you think about it.

Two of his roads involve using other people or their money.

No, seriously, there is a chapter in which Fisher tells you to marry for money. Now, after you have released your imaginary pearls, you should realize that this has been around for years. Millions of brides have produced a dowry to the family of her potential groom.

In this era, it usually happens in the form of potential money, like alimony, splitting of assets or child support. If you really think about it, marrying into money is not that hard. Depending on the type of lifestyle you want for yourself you can find someone that will give it to you. If not you could always ride the coattails of someone else.

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Which leads us to the next road, being someone’s sidekick. Be the Robin to someone’s Batman, or the Jubilee to Old Man Logan. It may seem a little cheap, but there are many people that have made their fortune piggybacking off the actual talent. To accomplish this most of the time you would have to be in the right place at the right time. For most people, this will usually be in an entourage type of role.

Think of how many people that hang out with someone famous, and then think of all the times when you ask yourself, “Why the hell is this guy famous all of a sudden?” Most of the time it is because they found the right host and latched on at the right time.

If you want to make your own money there are roads for that, as well.

In his book, Fisher describes starting your own company as the best way you can gain riches. In fact, this is the first road to riches that he lists. Having your own business–if you actually put the time and money into it–is the best way to be successful. Often the only problem people that travel this road is the lack of time they have for other things. This definitely includes that anniversary dinner your partner made.

If you do not want to do the leg work you could always work you could always climb the corporate ladder and become the CEO of a company. This is kind of like the first road, however, with enough work and dedication anyone can do it. Often the CEO has been there since the beginning, but if you are a shark you could take that thrown from them. You probably will have to be there day and night for a few years, but at least you get a nice office and frequent flyer miles.

Fisher has an answer for every walk of life, but one has stood the test of time for years.

His tenth road is an easy one. Take the time every month to save and invest the money you make. Fisher describes this as the most reliable way to become rich. Most of the time you will not be able to gain the riches fast, but you have more security in what is going on with the money you are saving. Unlike the other roads, the risk, if any, is relatively low. Most banks will be able to assist you with your financial goals.

So, how plausible are these roads to riches? For the most part, the roads Fisher describes are easily available to everyone. Will road six or seven work for you? Maybe not. Depending on the goals you have for yourself one road may work better for you. Whatever your version of rich is you should follow the road the will get you there the quickest.

 

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