Want to know how to make money fast?
We all want to know how to get rich quick. I’m not naive. I realize that most 20-somethings don’t care about personal finance and saving for retirement. Most people my age are concerned with how to get rich quick and to how to make money fast with the least amount of effort.
There have been a few times when I tell someone about my personal finance blog and they’ll respond in a smarmy manner with a slight variation of the following comment:
“Tell me how to get rich quick if you’re so smart”.
So let’s have some fun with this. Let’s look at ways on how to get rich quick:
(Note: Please do NOT under any, and I mean any, circumstances take this post as a legit way for making money quick.)
Inherit money to get rich quick.
Inheriting money is the best way to get rich quick. Think about it. You take it easy until you’re in your adult years, at which point the individual passes away and leaves you a nice lump sum of money. You will have to pay inheritance taxes and then the money is yours. What if you know that you won’t be inheriting any money? Maybe you can start hanging out at the seniors center more often. If you inherit money you won’t have to worry about Roth IRA limits or frugality tips (or even big wins for that matter).
Gamble on sports & horses to make money fast.
If you’re a sports fan and enjoy watching sports, then why not put some money on the games you watch? It will make the games more interesting. You can also spice things up by betting on horses. If you bet on a long shot and the horse comes in first place you can cash out and get rich quick. This way you don’t have to deal with all of that boring stuff involved with running your own business or managing your retirement accounts.
Winning the lottery is a classic way of making money fast.
I’m sure this guy was thrilled at first when he won the lottery. In Stats class a few years ago we ran the odds of winning a local lottery. The odds were an astonishing 1 in 14 million. Not the greatest odds but if you spend enough money on lottery tickets every week, you will eventually get rich quick (or maybe not so quick?).
An insurance settlement can make you rich quick too.
You just need to be at the right place at the right time and hope that everything goes through alright. The only problem is that you can’t predict when you can get an insurance settlement so you might be waiting for a long time. Oh well in the mean time you can continue gambling on sports.
If none of these methods on how to get rich quick appeal to you then I urge you to continue reading Studenomics for practical ways to maximize your income. You can start an online business from the ground up or perhaps even focus on eliminating your student credit card debt first.