How to Get Rich Without Trying or Thinking Very Hard

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Have you ever known someone who got rich even though they didn’t seem very smart, didn’t work hard, or both?

Almost everyone I know has someone they’d place in this category.

The mortgage broker during the 2002 -2007 real estate boom, the guy involved with gold mining during the historic gold bull market from 2002 – 2011, the website designer during the 1990s Internet boom, all made millions despite not working or thinking very hard.

There’s also the easy money made during the 2017 Bitcoin boom, the 2016 marijuana stock boom, the post-2008 Silicon Valley boom, the 1980s boom in Wall Street profit, and the list goes on and on.

There’s a powerful secret –a set of knowledge – behind most of the “easy” or “accidental” fortunes you see in the world. This knowledge is one of the key differences between the rich and the poor.

When you put this secret to work, it’s easy to make a fortune without trying or thinking very hard. Below, I’ll tell you how this secret works and how you can start using its enormous power immediately.

In the business and investment world, the boom times I described above (favorable conditions where practically anyone can make a ton of money) are often called “tailwinds.”

If you’ve ever come across someone who got rich without trying or thinking very hard, chances are they got into an industry with a strong tailwind blowing at its back. A tailwind of robust industry growth that lasted for years.

Achieving success in these situations can be like hopping on a boat that is headed down river. You can practically float your way to success.

Take the mid-to-late 1990s Internet and wireless communications boom. It was an incredible time for tech entrepreneurs, investors, and employees. Gale-force tailwinds of wealth creation were blowing.

The benchmark technology stock index, the Nasdaq, gained 40% in 1995, then 22.7% in 1996, 21.6% in 1997, 39.8% in 1998, and then an incredible 85.6% in 1999.

During these boom years, top technology firms like Microsoft, Cisco, and Qualcomm doubled and tripled in value in just months. Annual stock gains of 1,000% were commonplace in the technology sector. Company founders made billions of dollars. “Regular” employees also made millions. Many were simply floating along giant rivers of wealth creation.

A strong business tailwind may come in various shapes and sizes. Perhaps in the form of a huge rally in the price of a commodity like corn (makes farmers rich), or crude oil (makes oil drillers rich).

A strong business tailwind can be the result of a new technology reshaping the world, like what the Internet and wireless communications have been doing since the 1990s. New government laws may cause strong tailwinds to blow, such as the legalization of marijuana.

Most books on wealth don’t emphasize it, but I believe knowing how to spot and harness tailwinds is one of the great secrets of getting what you want in life.

Whether you want money, respect, freedom, or good press, few forces in this world can help you more than a strong tailwind.

Want to retire rich at 40? Get a tailwind blowing in your favor.

Want to build a multi-billion dollar business? Get a tailwind blowing in your favor.

Want to grow your savings through smart investment? Get a tailwind flowing in your favor.

Want to make a large annual income without working or thinking very hard? Get a tailwind blowing in your favor.

Too often in life, smart, hard working people struggle to get what they want. It’s often because they’re not working with tailwinds at their backs, or worse, headwinds blowing in their faces.

For example, you could have been one of America’s best clothing manufacturers back in the mid-1990s, but vast amounts of cheap clothing coming from China was a powerful headwind working against you.

Take bricks and mortar retailers in the Internet age. Many retailers who do many things right are currently getting killed by the gale force headwind that is Amazon.

Consider how small mom and pop retailers, even the best ones, have struggled to compete against Wal-Mart’s ultra-low-cost headwinds for the past 30 years.

If you’re contemplating taking a new job, starting a new business, or making a substantial investment in a business (public or private), it makes sense to study the tailwinds and headwinds that are affecting, or could affect, the business in the future.

Think of it this way: You don’t want to spend five years of your life becoming a top-shelf buggy maker right before Henry Ford introduces the Model T and you don’t want to own the neighborhood’s best movie rental store right before Netflix rolls out its home streaming service.

People can and do make lots of money in declining industries, but making big money is a hell of a lot easier and your chances of doing so are a hell of a lot higher if you focus on industries with powerful, long-term tailwinds at their backs.

When you do this, you can get rich without trying or thinking very hard.

As I write in mid-2018, some businesses that I believe will enjoy strong tailwinds for many years are:

  • Health care for Baby Boomers
  • Virtual reality/augmented reality
  • Autonomous vehicles
  • Robotics/Artificial Intelligence
  • Genetic editing and personalized medicine
  • Cybersecurity
  • Renewable energy
  • Selling high quality organic food

There are plenty of industries that should enjoy strong tailwinds for years, but this is a good place to start. Becoming an expert in any one or several of these fields will get strong tailwinds blowing at your back. You’ll stand a good chance of getting rich without trying or thinking very hard.

And if you’re willing to think and try hard? Well, it’s scary what you could accomplish. Good luck!

Next time will discuss a simple realization about people that increase your chance of investment success!

Regards,

Brian

 

 


Article printed from InvestorPlace Media, https://investorplace.com/2019/02/how-to-get-rich-without-trying-or-thinking-very-hard/.

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