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Thank you for all the advice you offer. Im only 23 years old and stumbled upon your writing on debt management a few months ago and have already reduced my debt by 30%. People may knit pick at what you say but the underlining is always the same…less debt+saving and investing leads financial freedom. I look forward to continuing to read what you have to say and making these millions with you brother.
I enjoyed Jared's book immensely, so it was rather a shock to find the addendum so shallow and, particularly, so depressingly pessimistic. He manages in one brief article to scotch any possibility of arms control, and to argue convincingly in favor of "the race to the bottom". For examples of the latter he could hardly have picked two more convincing cases than the American beer and food-processing industries. The purveyors of tasteless instant-grown chickens, antibiotic-saturated beef, elastic tomatoes, and paper-mache Washington State apples, not to mention massive groundwater pollution in the coastal states, are apparently to carry all before them. Fortunately, there are other countries than Japan with whom the comparison could be made, and many of them produce tasty foods efficiently. Even Diamond seems to recognise that American beer has carried the virtues of mass production beyond reasonable bounds, as a glance at the shelves of the local supermarket with its array of multiethnic and microbrewery products would confirm.
That outcome, of Germans having their local beer loyalties, is reinforced by German government law. The German government makes it hard for foreign beers to compete on the German market. The German government has so-called beer purity laws. The German government specifies exactly what can go into beer, and not surprisingly what can go into beer is what German breweries put into beer, and it's not what American, French, and Swedish breweries like to put into beer. So it's difficult for foreign breweries to compete on the German beer market. The result is that German beer is not exported very much. Any of you who like to buy Lowenbrau in the U.S. should look at the label in the supermarket: your U.S.-bought Lowenbrau is not brewed in Germany, it's brewed on license in the United States with American productivity and American efficiencies of scale.
Invest your time. For example, you might like having free time, so you give yourself a few hours a day to do nothing. But if you were to invest those few hours into getting rich, you could work towards having 20 years of free time (24 hours a day!) with early retirement. What can you give up now in exchange for being rich later? Investment advisor Dave Ramsey likes to tell his radio audience, "Live like no one else today so that you can live like no one else tomorrow."
Donating plasma can actually work out better than selling your blood. It takes longer to donate plasma because they will put your red blood cells back in your system. The upside is that you can donate plasma as much as twice a week and you can make anywhere from $40-$60 per donation. You can make that $100 in less than a week if you can stomach the needle.
Again, I don't want you to go home to your several children, and say, "Sweetie-pies, I heard this talk today by this guy Jared Diamond who enunciated some principles that I think would be really good for rearing children. We're going to see what your grades are at mid-term, and based on those grades, whichever one of you comes closer to getting all A's, that one we will support to the hilt, private schools, college, whatever you need, whereas those of you who get poor grades can start jobs as a shoe-shine boy or girl" — No! In a family, and in some other human groups, productivity is not the appropriate consideration for judging the best organization of the group.
The market for drones is expanding. Companies hire out work like aerial inspection, photography and land mapping. So if you’re already a drone enthusiast, why not put your aircraft to work? You first need to register it with the Federal Aviation Administration and obtain a license from them for commercial use. Then, you can apply for gigs as a drone pilot. Learn how to start making money with drones.
Okay, let's now start to apply all this to what we should do if we want to try to go out and get rich. Let's apply this to some affluent modern industries and companies. I'll give you two examples. The first example concerns that image of productivity that we Americans have as we look toward Japan. We fantasize that the industrial productivity of Japan and Germany is greater than that of the United States. And that's not true. On the average, American industrial productivity is higher than the industrial productivity of either Japan or Germany. But that average figure conceals differences among the industries of the same country, related to differences in organization — and those differences are very instructive. Let me give you two examples from case studies carried out by the McKinsey Corporation, an economics study industry based in Washington. These two examples involve the German beer industry and the Japanese food-processing industry.
If you have the necessary skills, there are websites on the internet where you can find freelance work that you can do from home. This work usually requires a skill set like writing, editing, computer programming, data entry, etc. There are also surveys you can do for money, but tread with caution. Some surveys are scams and you can end up losing money if they gain access to your bank account. Check for trustworthy surveys.
If you find yourself wanting something expensive in the quest for immediate gratification, divert yourself with a small indulgence rather than giving in to the large one. Walk away from the designer suit or purse, but buy an ice cream cone or catch a movie instead. The $8 movie ticket is a lot less expensive than the $800 purse but may give you the same feeling of doing something "just for you."
The average Uber driver is said to make about $19 to $21 an hour after tolls and some other expenses are factored in — although I’ve seen other numbers suggesting it’s closer to $16, and with Lyft, the average is said to be less (closer to $11). But on the plus side, you can generally get your money instantly, which wasn’t always the case with these ride-sharing businesses.
Sign up for a reputable affiliate network: Aside from Amazon, there are dozens of large reputable affiliate networks, such as Share-A-Sale, Clickbank, and Skimlinks, that specialize in connecting you with merchants who are looking for affiliates to sell their products. They charge relatively low commission fees for the privilege of connecting you with merchants, and the merchants on these sites tend to offer much higher commission percentages or set dollar amount payouts.
Avoid purchases that are likely to depreciate rapidly. Spending $50,000 on a car is sometimes considered a waste because it's likely that it won't be worth half that much in five years, regardless of how much work you put into it. As soon as you drive a new car off the lot, it depreciates about 20%-25% in value and continues to do so each year you own it.  That makes buying a car a very important financial decision.
Robert said he did an average of 4-6 of these gigs per year for a while depending on his schedule and the work involved. The best part is, he charged a flat rate that usually worked out to around $100 per hour. And remember, this was pay he was earning to advise people on the best ways to use social media tools like Facebook and Pinterest to grow their brands.
What does that mean for you? It means Nielsen will pay you $50 a year to keep their app on your favorite internet browsing device. The app itself collects statistics on your internet usage anonymously, so you never have to worry about any data being linked to you. And the best part is, the app takes up barely any space and doesn’t slow down your phone or tablet at all!
But rich can also be psychological richness. It is an achievement of being able to live without the worry of money. You don’t necessarily need to own a castle to be considered rich. Everyone can be rich as long as we are able to do what we desire freely and to have the fulfilment in life. The key of it is to live with or even less than what you have. To be “normal” even when you are financially capable to do a lot more.
If you don’t mind doing other people’s chores, then TaskRabbit is a great option for making money online. Earn extra income by walking your neighbor’s dog or mowing Mr. Smith’s lawn. It might seem like not the most lucrative option, but the top taskers reportedly earn as much as $7000 a month, making this a full-time way to make money online for some.
Whether you want to become your own boss, start a side hustle, or earn extra money on the side, any of the strategies listed above can help. By finding ways to increase your income, you can free up more cash to pay down debt, save for the future, or invest for retirement. Saving money is only half of the equation. And if you truly want to get ahead, you might want to figure out how to make money – and hopefully, lots of it.
Why is this so important to a discussion about getting rich? It's because, as human beings, although we understand the concept of not being able to get what we want when we want it, it's still such a deep and sudden urge that burns inside of us, that we have difficulty seeing the forest through the trees. The truth? We want what we want and we want it now. Even as adults. Why should we have to wait? That's the resounding line of thinking at least.
However, what he didn't fully appreciate at the time was just how much others were helping in the process to push and enact those deals. When he walked away from a nearly $2-billion-in-sales company at the age of 30, he simply didn't realize that. In his own words, he was full of himself and entirely overconfident about what he could achieve on his own. His slow and steady decline in the 22 months that followed his departure from that business was one of the most brutal periods in his life, where he almost lost all hope.
Open an Etsy store. If you have a creative talent or skill – whether it’s creating art, sewing clothes, or making keepsakes – you can open an online store on Etsy.com and sell your wares for some quick cash. With your own Etsy store, you’re left in charge of pricing and, ultimately, how much you make. See our detailed primer, “How to Make Money on Etsy.”
[JARED DIAMOND:] In Guns, Germs, and Steel I asked why history has unfolded differently over the last 13,000 years in Eurasia, in the Americas, in sub-Saharan Africa, and in Aboriginal Australia, with the result that within the last 500 years Europeans were the ones who conquered Native Americans and Aboriginal Australians and sub-Saharan Africans, rather than vice versa.
So that's one thing that creates local monopolies for food production in Japan: Japanese fanaticism about really fresh food. And the second thing is Japanese government policy, which reinforces these local monopolies. The Japanese government obstructs the import of foreign processed food by slapping on a ten-day quarantine. And because the Japanese care about food that was produced that very day, naturally by the time that American beef, chicken, or whatever arrives at the supermarket and the date says ten days old, the Japanese are not very enthusiastic about buying those American products. And there are other restrictions that the Japanese government imposes on foreign imports.
I have read many posts and blogs on earning a million dollars or passive income. For some time, I wonder whether striving to be a millionaire for years or decades (as you wrote) it is the thing that people should be guided in life. Maybe it’s better to focus in life on what gives us pleasure and transform it into a business. If in life we make money on our passion, instead of attending to disliked job, we will make money, but it will not be our top priority.