How to Get Rich From Nothing: 8 Ways to Get There

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How to get rich from nothing is on everyone’s radar. There are ways to get there and you don’t need to win the lottery in order to get there. All you have to do is make some choices and sacrifices in order to get to where you want to be. Take it from someone who’s doing the steps that I’m outlining.

I didn’t come from a wealthy family. My family was a middle class family where I had clothes on my back and food on the table. But I didn’t have excess in order for me to have a car by high school graduation, a smartphone paid by my parents, and the like. We lived comfortably, never having excess and never having too little.

What I did have was the willingness to actually put in the work in order to get to where I want to be. I wanted to learn from others and that’s when the light bulb went inside my head when I found out the personal finance community. There were actual millionaires in the personal finance community teaching others how to get rich from nothing.

The best part about all of this was that they were giving free AND the correct advice in order to get there. From applying their lessons, I can attest that it works. I have a net worth of $440,000 as of YE 2021 that I project will grow to at least $600,000 by YE 2022. For my age group, that is literally in the top 2%.

Therefore, take it from me who’s actually gotten wealthy starting with nothing. Does that mean that I haven’t had privileges? Absolutely not. However, I didn’t start off with a million dollar inheritance. I actually put in the work to get here.

How to Get Rich From Nothing

The first way to get rich from nothing is to SMACK that social share button and posting to your favorite social media! If you could do so, I would really appreciate it given the research and the effort it takes to bring you the article.

So with that said, let’s get into the concrete steps!

1) Learn How to Get Rich from Nothing First

How to get rich from nothing starts with your willingness to learn first.
Put in the work and do some studying beforehand.

If you want to get rich from nothing, you have to know how to get there first. Read personal finance books, blogs, and articles. There is an infinite amount of people out there who teaches you how to get there. Myself, included. I reached a net worth of $440,000 at the age of 26 because I listened to other people.

I learned on what to do and what not to do. It was great. I knew the general basics of how important saving money is. However, I did not know how to invest that money in order to get a return and build wealth. Other people are more than willing to teach you how to get there.

The first step isn’t to do anything, it’s to know what tools you need to learn first. Remember that personal finance is very simple. All you have to do is save and invest as much money as you possibly can over the long haul. There’s more nuances to get to a 100%, but knowing 80% is enough to get you there.

2) Put Pride Aside

One of my readers put it perfectly. “Never put pride before profit”. Pride is bad and it has ruined civilizations before. When you’re starting off with nothing, accept that you don’t know anything. Understand that you are in the bottom of the totem pole and that you have to listen to others talk.

The others who’s already at where you want to be. Don’t act like you know everything because you don’t. If you want to know how to be rich from nothing it’s because you don’t know the answer yet. There are things that others do get wrong, yes. However, the default position should be that they are right until proven wrong.

Then once you figure out and experience their lessons yourself, you can decide what works and what doesn’t. The financial independence journey lifestyle isn’t for everybody. There are people who give up halfway through it because if I’m being honest, it’s a pretty tough lifestyle, especially in the beginning.

3) Be Disciplined With Saving

How to get rich from nothing starts with being disciplined to save money.
Are you disciplined enough to save money?

The one who is rich is not the one who spends every penny of what they have. The one who is rich is the one who saves every penny that they have. Companies are the cheapest entities in the world. They pay you a ratio of 100 to 1 in some extreme cases. Where every dollar you bring to them, they pay you a penny.

While they are being cheap, it’s what allowed them to reach the 3 trillion dollar status, as Apple enjoyed. Obviously, it’s not a good idea to save to excess. However, it is a good idea to be disciplined with your savings. Don’t spend 100% of your paycheck. Your bosses love hearing that.

Why? They know you don’t have anywhere else to go. You can’t quit because you have no savings to fall back on. Your bosses love hearing stories of you paying five figures for a car or you bought a mortgage. There’s very little chance that you’ll quit and your employer can take advantage of you in however way they wish.

4) Invest Your Money

Now that you’re good with saving your money, it’s time to invest your money. The answer to how to get rich from nothing is in investing. There’s very little people who actually became wealthy from a W2 income alone. They had to invest their money in order to get to where they wanted to go.

A good bet is the S&P 500. In a 20-year span, the S&P 500 never returned a negative return, ever. Could that change? Yes. However, why bet against something that has a 100% chance of success? You’re free to choose what you want to do with your money, of course.

I personally have a majority of my net worth invested in the S&P 500 because I believe in America so much. They have an amazing track record of providing economic prosperity that it would be foolish to bet against the country. Investing my money made me an extra $50 – $100,000 so far, and counting.

5) Create Multiple Streams of Income

How to get rich from nothing? Have multiple income streams.
Having multiple income streams is the way to freedom.

If 100% of your income is from your 9-5, then you are living on really thin ice. If they fire you, you don’t have much of a choice in the meantime. I’ve seen Managing Directors take roles of Analysts from the depths of the Great Recession of ’07 – ’09. Those are people who had nowhere else to go.

They needed a job. They couldn’t keep themselves afloat for more than 3 – 4 years and so they needed to find a job so they can put food on the table. You can fix this problem by creating multiple streams of income and giving yourself a raise whenever you feel like it.

How to be rich from nothing doesn’t involve just working a 9-5 for the rest of your life, saving and investing your money. That is one way to do it. A better way is to create multiple streams of income so that your dependency on one income source is gone. Dependency is the poison that will destroy your life.

6) Accept that Getting Rich from Nothing Takes Time

Aside from inheritances, no one became rich overnight. Most millionaires took decades in order to get there. It took me almost ten long years to get to where I am today. That was me starting from nothing at the age of 17. Due to compound interest, I’m getting much better traction and it’s easier for me.

Not just from a behavioral standpoint where I save money because it’s second nature. But because my money needs to work less in order to bring in substantial income. If the S&P returns 10% in 2022, I can literally save 100% of my after tax W-2 income and still be fine at the end of the year.

Two years ago, I couldn’t even think of doing that even if the S&P 500 returned a 10% return. It takes a lot of tie in order to get to this position. Let me tell you, the wait was so worth it. There’s less money stress that I feel. In 2 – 3 years, I can’t wait until I have zero money stress. It’ll be amazing.

7) Calculate How Long It’ll Take

Even if you know getting rich from nothing takes a very long time, the question now becomes how long will it take? That’ll be up to you to calculate. The key is to have your goal number, then back track into how much you’re saving, etc. Utilize a 7% interest rate for your investments to grow.

Then you can pretty much see how long it’ll take before you get to the point. For me, I believe that I will reach my goal number in 2022. I got a ridiculously good raise as a result of a job offer, one that made me question what they’re doing paying me this much.

As a result, my FIRE path has just been accelerated even faster than I ever expected it to be. It’s crazy to realize that in just six years of graduating university, I will have gotten to be financially independent. Will I continue working? Yes, but it now becomes a choice.

8) Commit to the Process

Now that you know how to get rich from nothing, it’s time to stick with it. You have to commit to the process even when it gets hard. You didn’t come this far to only come this far. Many people don’t understand how long time actually is. Looking back in my journey, the past six years was an eternity.

There were so many things that happened in the past six years. And that’s only six years! I can’t imagine what the rest of my life will look like. The process to financial independence, getting wealthy, and getting rich is a long process. It will test you in ways you never thought would matter.

Commit to the process and then reap the rewards. There were many times when I wanted to rip my hair out and question everything that I’m doing. Then when the S&P returned 1%, which made me thousands of dollars without lifting a finger, it kept me going. I used dopamine for my own purposes.

Getting Rich From Nothing is More Than Possible

There are stories of people getting rich from nothing and there will continue to be stories of people getting rich from nothing. I’m an example. I started off as a cashier in retail making minimum wage of $7.25 per hour. It was a ton of fun because I was just a high school student but it goes to show what’s possible.

You can start off making minimum wage then work your way up. It may take longer than other people who landed cushy six figure jobs straight out of college. However, you will get there. A little bit of hard work done over long periods of time shows results afterwards.

When you have nothing is when you have nothing to lose. It’s nowhere to go but up! I am so ready to enjoy my late 20’s as that’s when I reap the rewards of all of the sacrifices. That’s when I know that I will have made it and know that I can get to the point that everyone was talking about.

All of the patience that I exhibited will pay off. The delayed gratification I practiced and deliberately chose not to go out to eat even though it was more convenient to do so. Some may take longer and some may take a shorter route to get there than me. However, that’s OK.

As long as you have the tools and the knowledge on knowing how to get rich from nothing, you can get there. It is now entirely up to you. Are you going to question it and remain skeptical or are you going to listen to the ones who actually did what you want to get to? It’s completely up to you.

How to Get Rich from Nothing List:

  • Learn how to get rich from nothing first
  • Put pride aside
  • Be disciplined with saving
  • Invest your money
  • Create multiple streams of income
  • Accept that getting rich from nothing takes time
  • Calculate how long it’ll take
  • Commit to the process

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