What Would You Do If You Suddenly Become Rich?

2 points

Here are the things you must do if you suddenly become rich

Living a life of luxury and opulence is perhaps the dream of every human being who thrives for a better world. And no matter how much richness we are thrust upon, the desire for more luxuries never end. Becoming rich is that turning point in our life which differentiates us from an athiest who believes his/her life to be ever-deemed with failures. For those who overcome hurdles without hassles for being favored by luck, what if they suddenly become rich overnight? What would you do if you suddenly become rich?

Well you don’t have you scratch your head or surf the internet to look for answers. We have created a beautifully weaved list of “To Do’s” that you should follow to stay rich when you become one.

Before we start discussing, it must be reminded that the process of being rich is basically more about earning the title than believing in the sheer power of luck. One cannot simply become rich by dreaming unless he or she has the determination to be one.

Increase your capacity

What Would You Do If You Suddenly Become Rich? | Gradually increase your holding capacity
Gradually increase your holding capacity | via huffingtonpost.com

It is quite obvious that if you suddenly become rich, it would be much problamatic for you to hold on to the liquid assest you would have access to. In such a scenario, managing your finances is your best shot to preserve the title of being rich. However, before you plan to utilize the assets, increasing your holding capacity is advisable.

By increasing your capacity we mean that you gradually make yourself aware that whatever you have is not enormous but only enough for your living. If you start accepting this, whatever you have been in possession won’t get exhausted quickly due to excitement of having too much than required.

Manage your finances

What Would You Do If You Suddenly Become Rich? | Finances should be properly managed
Finances should be properly managed | via fool.com

Now that you are aware of the need to increase your holding capacity, it’s time to figure out how to manage your finances. According to our strategy, it can be managed in two primary ways.

You may either choose to direct all your possessions into savings and live the life of a miser planning to brighten up and support your future or you may avail all the luxuries of life and at the same time properly circulate your liquid assests in order to prevent their exhaustion.

While the first strategy is followed by most who suddenly become rich in order to adjust to their status, you can break the rule and follow the second letting the world know that even if you weren’t born rich, you were always meant to become one.

Invest to earn more

 What Would You Do If You Suddenly Become Rich? | Invest properly to climb the finance ladder

As we have said before, being rich isn’t a static scenario and things may turn against you if you keep on exhausting your money or if you simpy rely on savings. In order to stay rich, live a luxurious life and at the same time, have a steady flow of cash, you need to invest your assets in proper places.

Finance oriented education is thus very important. If you lack the capability of judging the viability of the investment firms you have shortlisted, it is advisable to hire an investment consultant to guide you through the process. The golden rule of earning says that the more you spend, the more you earn.

Set up goals

What Would You Do If You Suddenly Become Rich? | Plan about your future
Plan about your future | via youtube.com

An aimless life bears no fruits and even if you suddenly become rich and plan to manage your finances in the best possible way, you cannot succeed unless you have a few life-goals set. This includes planning the date of maturity of your investments, planning the budget of your dream house and the opulences to adorn it, planning the purchase of the luxury car you have always wanted to own and so on. If you do not have goals or fail to execute them properly, you would surely face the danger of spending too much at one shot and henceforth, lack the resources to continue enjoying them.

Live a life of luxury

What Would You Do If You Suddenly Become Rich? | Rich and luxury are synonymous
Rich and luxury are synonymous | via tristanazcona.com

Being rich has no meaning if you do not taste the luxuries of life you can avail. Once you have successfully met every goal in your wishlist and have attained both a stable condition and high status, it’s time to show off the world that you are rich in every sense of the term.

Travel to exotic destinations, purchase only the best, prove that luxuries can bring the ultimate happiness in life and make it clear to the crowd that unlike respect, luxury is not earned but is bought.

Don’t look back

What Would You Do If You Suddenly Become Rich? | The road to prosperity
The road to prosperity | via erikjohanssonphoto.com

Not everyone in this world is blessed with a chance to suddenly become rich overnight. So, irrespective of the condition in which you had spent your life till the fateful day, start living life king size. Don’t think about what you were, don’t let your past overcome your present well-being and status and simply forget that being rich was only a wish once.

Being rich isn’t static but being rich is everything. Make the most out of your possession and never look back. The road to prosperity starts here.

If you are convinced by the strategy provided in this article and ready to materialize more through investments, you may have a look at the 5 Best Long Term Investment Plans or else you can know more about the Top 10 Habits Rich People Have and groom yourself accordingly.

Hope these list of “Must Do’s” have been able to guide you to live a propserous life of luxury even if you suddenly become rich and don’t know what to do with the money. Do share your thoughts by commenting below.

Discussion - 2 Responses

    • Hi Roy,

      You either get capital from an external source (such as an investor/partner – situation where you need to be a sophisticated entrepreneur) or you do what the rest do: Hustle!

      Hustle means you earn the capital you mean by doing most of the work yourself, not hiring anybody, bootstrapping for as long as possible and most important: SELL SELL SELL.

      Do that, reinvest the profits until you get the amount you need. There’s no easy way up and you’re gonna have to put in a lot of work with almost 0 pay for yourself!

      Here’s another article on Alux that might help you: 6 Excuses Stopping You From Being Great

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