On Quora, somebody asked for “something I can learn in 10 minutes that will make me rich?”
The obvious answer is: “not much”.
… this is my blog, and I’m up for a challenge.
In fact, I think you can learn pretty much everything that you need to learn about getting rich in just 10 minutes.
Unfortunately for me, if I’m right, you’ll know everything you need to know in just this one post, so you’ll have no need to keep reading …
… and, if I’m wrong then you’ll simply delete your bookmark to this blog, as it will prove I can no longer deliver.
It appears that I lose either way 😉
Even if this puts this blog out of business, I’m willing to take the 10 Minute Challenge because it also puts every other best-selling ‘get rich’ spruiker – and, let’s face it, most of them are crooks – out of business, as well.
And, that’s worth the sacrifice …
So, here goes:
I think the number one thing that you can learn in 10 minutes is: “what is your Number?” … in other words, how much is ‘rich’ for you?
For example, think about how much annual income you would need (start with $250k p.a. and work your way upwards) and multiply that number by 20.
[AJC: the question was about “rich”, so the answer needs to be $5m to $10m++ … but, this exercise is still valid even if your Number is based on 20 times $50k or $100k]
Once you have that Number in your head, think about how long you are prepared to wait before becoming ‘rich’ (if you are prepared to wait more than 5 to 10 years, surely you can give this exercise longer than 10 minutes)?
Once you have those two numbers, a few minutes playing with this Compound Annual Growth Rate calculator will tell you what % return you need on your investments each year, over that time frame.
Finally, 30 seconds with this chart will tell you everything that you need to know about how you can get rich, which was your original question:
Now, as promised, this really is everything you need to know in order to become rich …
… but, I’m not worried about losing readers, because – now that you know what to do – you’ll want to bookmark this page so that you can keep reading to learn how to do it 😉