If It’s Not Very Likely That You’ll Hit The lottery Here’s Five Viable Ways To Increase Your Wealth!

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If It’s Not Very Likely That You’ll Hit The lottery Here’s Five Viable Ways To Increase Your Wealth!

So do you personally know anybody that’s ever hit some form of lottery? Not for anything super substantial mind you. But maybe for several thousands  dollars or even a couple of hundreds thousands of dollars, after taxes and applicable fees of course. Me either.

While hitting the lottery for any substantial amount of money may not be in the cards or part of your immediate future, all is not lost. Because there are some other extremely viable avenues for you to pursue, in terms of consistently generating income.

Some of which, your obviously already personally familiar with. That being said, lots of time it may not be as obvious, all the different ways that income (to various degrees of course), can and is consistently generated, by average people just like the rest of us.

This post is just a friendly reminder of five such potential options, especially if hitting the lottery, or inheriting  any type of substantial money, sometime in the not so distant future, is simply not a likely possibility.

Five Extremely Practical Ways To Increase Your Long Term Wealth If Hitting The Lottery Is Not Very Likely!

First off let’s be clear. If you’re really serious and therefore dedicated to increasing  your long term wealth, utilizing any of the five potential (income generating) alternatives, that’s about to be laid out.

Some of which you’re already (no doubt) personally familiar with. Then entrepreneur, please be advised, that absolutely nothing substantial comes about, without some serious long term (laser beam  like focus) and rock solid dedication and commitment!

Some now that we’ve (hopefully) covered the get rich click part of this deal; let’s have a look at these five potentially viable (long term) income generating possibilities, if hitting the lottery is simply not a likely option.

1.) Long term income generating possibility # one: This first first extremely viable (and far more likely) possibility of initially generating a steady income, if the likelihood of inheriting money or hitting the lottery aren’t very likely.

That probably means, initially you’ll be needing some type of employment right? May be full or part time or at some point, may be even both!

And you develop the skill of putting some of your hard earned money to work for you, by first investing in your specialty form of education of some kind, in order to eventually put those ideas and skills to work for you, in some form or another.

2.) Long term income generating possibility # two: Next, you may go the way of owning your own business (typically a small start up business) of some kind.

In which case you’ll hopefully, sooner rather than later,  be consistently leveraging your employees and technology to help increase your long term profits.

3.) Long term income generating possibility # three: Third, After you’ve acquired certain knowledge and skill(s), you can of course put your knowledge to work for you, in at least three potential (long term) money making ways.

A.) You can write a book or books and share your knowledge.(Both hard cover or digital.)

B.) You can consult others for either an hourly fee or receive a percentage of the profits, generated as a direct result of you helping their businesses grow etc.

First Invest In A Quality Education Of Specialized Knowledge Then Your Long Term Tree Of Wealth Will Consistently Grow!

C.) You can get paid some really nice fees to give local, regional or national speeches in your area of expertise.

Again, none of this is going to happen overnight mind you. And most of these viable opportunities, may never actually come be at all! But the fact remains, for the right people, they are very real possibilities!

4.) Long term income generating possibility # four: Once you develop the skill of successfully investing money, then others will want to be a part of your team and have you help them grow their wealth through various investment vehicles as well.

Such as local real estate investing through partnerships of some kind. You over see the projects and others supply the financing. While still others with specialized knowledge, actually do the physical work.

5.) Long term income generating possibility # five: And finally, you can learn how to safely invest your own money (after) you’ve been properly educated (of course) and had a chance to develop some real world experience!

For ex: you may develop enough skill to build a substantial stock & bond portfolio, that generates enough income, that you could quite possibly retire from your current job and live off the income generated from it. Granted, more than likely, that’s simply not going to happen for 98% of us!

But it’s at least theoretically possible. Or perhaps you learn and develop the skills necessary to invest in your local real estate market and you specialize in owner occupied single family homes, in nice stable middle class areas.

And you occasionally invest in a nice (income generating) duplex in a stable neighborhood as well. And you buy and sell some of the duplexes, after you rehab them, for immediate income (and you keep a few as well) and you sell the single family homes on a contract bases and thus generate some (long term) steady income to live on.

And this combination of activities, allows you to earn a full time living.  The point is entrepreneur, if hitting lottery is not a viable alternative for you, anytime soon! These five extremely practical options are. Don’t you agree?

Please list at least two simple spin off concepts (in the comments section below) that you can apply to your business, product or service in the next 30 days or less!

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