One Sentence, How to Be Rich

Many people ask for simplifications - explanations that their 6-year old child or mother can understand. Surely there must be just a single sentence that can explain, how to be rich?

Maxims such as, a bird in hand is worth two in a bush, or

It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price,

come to the mind of this investor.

There is No Holy Grail

Unfortunately, getting rich is simple, but not easy.

It is simple and not rocket science. There is little complexity to the endeavour - that the average person on the street cannot comprehend or understand.

Yet the journey towards success may be said to be difficult and requires effort, just like everything else. You have to do the work.

Indeed, there is also a saying that "Money does not grow on trees".

Work Hard, Work Smart

You are likely to have heard that working smart will get you places. Banging your head against a brick wall will get you nowhere.

Yet, upon success or otherwise, you cannot expect to rest on your laurels. It is not possible to earn money (passive income or otherwise) without lifting a finger.

Indeed, this writer believes that you get what you invest in - you get what you pay for. Rewards are tended to be commensurate to the effort that has been put in.

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A good place to start in investing is the book, the Intelligent Investor. The book runs through some of the very basic fundamental principles of investing. It is fairly easy to understand.

For a copy of the book, the Intelligent Investor, by Benjamin Graham, check out the nearest bookstore near you.

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