The Ten Roads to Riches: The Ways the Wealthy Got There (And How You Can Too!)

Preface

Ixv

good, getting rich, and enjoying their lives. That's a beyond-

great thing for everyone. And feels great

to

those who do it.

The

good news is

-and

few will tell you this

-making

$30

million or so in your lifetime isn't that hard. Example: Build a

not-so huge business (Chapter 1)

that

in 10 years grows to $15

million in revenue.

If

it has a 10 percent profit margin, you

have $1.5 million in profits.

If

it's worth 20 times earnings

-not

extraordinary

-there's

your $30 million. After a few years, you'll

know if your firm is further scalable or

not-if

it can grow much

larger.

If

so, you could be very wealthy.

If

not, sell, collect $30

million, and go be happy.

Or

maybe start something else.

Or

retire! Up

to

you.

Is it impossible? No! Is it trivial?

No

-but

if you fail, you can

start over. Start young enough and you have maybe three to five

stabs at it. If you fail, you can

try

being an entrepreneur again or

try

another road. Nine more!

WHAT

IS

RICH

ANYWAY?

Well, what does "rich" mean

to

you? A million? Five million?

Fifty? Ten billion? What's plenty to some falls far short for others.

An example: A married couple, two schoolteachers, makes $60,000

a year. One spouse works part time and stays home with their two

kids. A modest lifestyle, but they fully fund their IRAs each year and

invest

wisely.

At 65, they conceivablycould have $4 million saved.

Or

more, if they take advantage of their school's 403(b).

That

$4 million,

if managed well, ...