How to Get Rich Quickly & Legitimately

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Getting rich isn’t out of reach for the average person. The Millionaire Next Door says 80% of millionaires are first-generation.

These people created their wealth by working hard to earn money. They learned how to manage their money. They created an environment primed for financial growth.

Increase your chances of getting rich by working hard and following a roadmap similar to the one below.

Two Main Ingredients to Get Rich

Getting rich takes two basic ingredients:

  • increasing your income
  • and growing your money

It is that simple. If you do these things, millionaire status may be in your future.

A Simple Example

Let’s say you find a way to save or earn an extra $1,500 per month. If you invest that money at an interest rate of 10% for 20 years, you’ll have $1,087,480.

If you invest $2,000 a month at the same rate, you’ll reach millionaire status in 17 years.

And if you invest $3,000 a month at that same rate, you’ll be a millionaire in 14 years.

14, 17 or 20 years might seem like a long way away. However, the time will fly by quicker than you think. So, you may as well spend that time getting rich.

Let’s break these down a bit further so you can see how to get it done.

1. Increasing Your Income

The fact of the matter is that the more you earn, the faster you will become rich. You can see this in the examples above.

Here are several ways you can increase your surplus to get rich faster.

Start by Cutting Expenses

The fastest way to increase your surplus is to reduce your expenses. This assumes you have a budget in place.

If you don’t have a budget, use the Financial Gameplan Form to get started. After you have listed all of your expenses, go through them one by one. Examine how you can reduce or eliminate each expense.

If you’re married, complete this exercise with your spouse.

Evaluate Your Priorities

This step will require a serious analysis of what matters to you. You need to decide how badly you want to achieve your financial goals.

For instance, you may not want to cancel your cable TV subscription.

So, you need to decide what is important to you:

  • watching sports on cable TV
  • becoming wealthy so you’re not tied to your job

Eating out is another example. Is eating out important to you? Is it worth it to forego restaurant trips to get rich? When you’re rich, you can afford to eat out.

As Dave Ramsey says:

“Live like no one else now so later you can live like no one else.”

It might seem as if the sacrifices you have to make are tough. But, it will be worth it in the long run. You’ll no longer have to be dependent on a job to earn money. You’ll be able to afford the things you need and want.

What Aren’t You Willing to Sacrifice?

As you work to cut expenses, you have to decide what isn’t worth cutting. Everyone has things they aren’t willing to sacrifice to get rich.

For some people, it’s their pets. For others, it’s their kid’s favorite game or sport.

Go through your expenses and decide what you will and won’t live without. Be willing to sacrifice. But, do so without sacrificing what’s most important to you.

After all, you don’t want your journey to wealth to be miserable. Instead, you’ll want to get rich in a way that motivates you. This means keeping important things in your life and budget.

Find Ways to Save on Necessities

You can work to cut expenses on necessity items. Most people think you can’t save money on necessities. This is untrue. You can save on necessities.

One example is insurance. An easy way to save on insurance is by shopping for cheaper rates.

Housing is one of the biggest necessities in most people’s budgets. But, you can save on housing. You could move to a cheaper neighborhood to save on rent.

Just because something’s a necessity doesn’t mean you can’t save money on it.

You’re not done after you’ve cut your expenses. You can find other ways to increase your surplus. One way to do this is by finding ways to make money.

Legit Ways to Make Money

If you’ve cut everything you can, you can find other ways to get rich faster. The way to do this is by increasing your earnings.

The first question you should ask yourself is:

“How can I make money in a way that fits my lifestyle and priorities?”

Here are a few examples:

  • Can you ask for overtime hours at work?
  • Are you willing to work a second job?
  • Would you rather have a flexible commitment and do some side hustling?

If you want to side hustle, check out these ideas for your “get rich” plan. There are dozens of side hustles you can do to increase your income. Here are ten popular ones we see people doing to reach their financial goals.

1. Become an Airbnb host

Do you have a room in your house that you could rent out to travelers? With Airbnb, you can advertise a room, or even an entire condo or house. You can choose to rent it out for a day or two, or even longer.

Room rentals are attractive to travelers. This is because they cost less than a hotel room. An Airbnb host can often get over $50 a night.

Common guests may be people who visit your city for work. Other guests may visit for fun. Or, your guests may be traveling through on their way to another destination.

If you like helping travelers and making cash, consider renting your spare room.

2. Drive for Uber or Lyft

Uber and Lyft help connect people in need of a ride with qualified drivers.

If you have a fuel-efficient car, this might be a good way to make money. For more information, check out this article: How He Makes Money Driving with Uber on the Side.

3. Open an online store

Did you know you can own your own online store? In some cases, you can do this without having to house and ship products!

Sites like Shopify assist you in starting your own online store.

You can sell your own products. Or, you can start a drop ship website. A dropship website earns commission filling orders for other companies.

4. Advertise on your car

If you’ve got a nice car, you may be able to use your car for advertising. Companies such as Carvertise help car owners make money with advertising. They connect you with companies looking to advertise.

Carvertise clients put an ad wrap on your car. When you drive, people see the ad, and you’ll get paid a stipend.

5. Sell your services

Are there tasks you can do for people near you in order to make money? All of the ideas may surprise you!

For example:

  • Are you good at fixing minor things around the house?
  • Could you clean houses for people?
  • Do you want to wash cars?
  • Could you babysit neighborhood pets or children?
  • Do you want to do yard cleanup or lawn mowing?

Decide which types of services you are best at providing and like to do. Advertise your services with flyers. They can be delivered to homes or hung on local advertising boards.

6. Use your talents to get online work

If you have talent for writing, editing or design, you could work online. You may work for various people or companies as a freelancer.

List your services on sites such as Fiverr and Upwork. Employers who use these sites are searching for people to do work online from home.

7. Become a Brand Ambassador

Brand Ambassadors are those people who hand out free samples at stores. They may also demonstrate products.

You may have seen them in stores such as Sam’s Club, Walmart and Costco. These types of jobs pay well, starting out at $14 an hour.

8. Provide tutoring services

If you like working with kids, you might like working as a tutor. You could work for a company that has tutoring centers. Or, you can advertise your services as a private, self-employed tutor. One place to do this is on sites such as Craigslist.

You could work as an online tutor for VIPKID.

VIPKID is a tutoring service for children in China to learn English. The company provides the lessons plans you use to teach.

You can earn up to $22 per hour with VIPKID.

9. Virtual Assistant or Call Center Associate Jobs

If you like helping people, you might like these ideas. You can work online as a virtual assistant for business owners. Or you can work as a call center associate for various companies.

Companies work through sites like Outsourcely to find virtual assistants.

Virtual assistants help with a variety of tasks such as:

  • Social media management
  • Data entry
  • Light bookkeeping

Or, you could start your own freelance virtual assistant business. My friend Kayla does this, and she earns $10,000 per month! She’s even started an online course called 10k VA to help others do the same.

Call center associates answer calls to customer service centers. They help assist callers with problems or questions. One company that hires work from home customer service reps is U-Haul.

10. Data entry jobs

There are many companies that hire people to work from home doing data entry. If you have fast and accurate typing skills, you might like data entry. One company you may work for is Axion Data Entry Services.

These aren’t the options for making money. If you would rather have a traditional part-time job, consider these:

  • Deliver pizzas
  • Cashier or stock-person
  • Server, hostess or cook
  • Clean offices at night
  • Work at a company warehouse such as Amazon or UPS
  • Work evenings as a customer service rep

It doesn’t matter if you get a part-time job or work a side hustle. The point is, there is money available if you’re willing to work to make it.

Finding money in your budget will help you get rich faster. It doesn’t matter if you find it by cutting expenses or earning it.

2. Growing Your Money

This is the second ingredient needed to get rich. There are several ways to grow your money. Some work, some might not. Some ways are riskier than others.

One of the first things you need to do is to figure out your risk tolerance. Knowing your tolerance level is important. It will help determine what avenues of growth you are comfortable with.

For instance, high-risk mutual funds may produce a high rate of return. But, they have a higher risk of losing money.

On the other hand, low-risk mutual funds won’t earn as much interest. However, they come with a lower risk level. You won’t have as high a chance of losing your money.

It’s up to you to decide the level of risk you are comfortable taking. Then you can decide which path of growing your money is best for you.

Take this risk tolerance quiz to help you decide. You shouldn’t take these quizzes too literally. But, they can help you figure out what your tolerance for risk is.

This will help you can make better informed investment decisions.

The Three Main Types of Investments

The wealthy generally get rich by investing in one of three avenues:

  • Stock Market
  • Real estate
  • Alternative Investments

Over time, these three avenues to wealth have proven to be stable. Let’s talk a little bit about each one. This will help you decide which one is best for you.

Investing in the Stock Market

The chart below shows the real return of investing in the S&P 500 from 1950-2009. The average return is 7%. This has been adjusted for inflation.

S&P 500 Chart from 1950-2009

Some experts will agree with these numbers. Others will disagree, stating cases for higher historical returns.

For instance, from January to June 2017, the S&P 500 had reached a 9.7% increase.

The stock market will have its good years and its bad years. Overall, it’s a steady but lucrative investment option. It has made people such as Warren Buffett rich.

Investing in single stocks might sound exciting. But, history has shown that other options may be better. Mutual funds, index funds or blue-chip stocks have solid and steady growth. Plus they have an acceptable rate of risk.

So, the question becomes: Which funds do I invest in?

You can work with an investment planner to buy your stocks or mutual fund shares. However, you need to ask some important questions first.

Questions like: Are you a fee-only or a fee-based advisor?

Fee-only Advisors vs. Fee-based Advisors

Fee-only advisors charge a flat fee for their services. They don’t make additional commissions off of the products they sell. Fee-based advisors make commission off the products they sell.

Conflicts of interest may influence fee-based advisors. Fee-only advisors don’t make money based on the investments you pick. This makes their judgment impartial.

Any advisor who helps you create an investment portfolio will charge fees. It’s important to take those fees into account. This may influence your decision about working with an advisor.

Another option for investing is to use what’s called a robo-advisor.

Investing with a Robo-advisor

Robo-advisors are digital platforms that help you find investments. Your risk tolerance and goals will affect the recommended investments.

Robo-advisors involve little human interaction, so fees are lower.

Ally Invest has a robo-advisor option. It allows investors to make trades and purchases for as little as $3.95. This is cheaper than the fees that many investment advisors charge.

If you use a human advisor, get several references. You should ask how much the fees are for their services.

No matter what, having a varied basket of investments is important. You should have a mix of investments that have a history of high performance. This may include stocks, bonds and mutual funds. This is the best option growing wealth through stock market investing.

Investing in Real Estate

Real estate is another common way people grow their wealth. There are a couple of different options for investing in real estate.

  • You can buy and hold investment rental properties.
  • You can invest in real estate via crowdfunding.

Let’s talk a little bit about each choice.

Owning Real Estate Rental Properties

Owning rental properties has made many people rich. But, make sure to consider these things before purchasing a rental property.

The first question you should ask yourself is:

“Do I have enough money for a down payment?”

Most mortgage companies require at least 20% on investment properties.

So, if you’re purchasing a property that costs $150,000, you’ll need a minimum of $30,000. Plus, you’ll need money for closing costs to purchase the property.

You may need to make repairs before the property is ready to rent out. Those repairs will require out-of-pocket cash.

It’s important to know if you can afford to shell out that amount of money. It’s also vital to consider the physical work of owning rentals.

Do you have the time and physical stamina to:

  • Meet with tenants
  • Screen tenants
  • Repair the properties
  • Collect rent

Or, can you afford to hire a management company? This way they can take care of property management for you.

Owning rental properties can help you grow your wealth. But, it’s important to consider the time and money involved.

Investing in Crowdfunded Real Estate

Crowdfunded real estate is another option for growing your money. Here’s how it works.

Reputable companies work with investors who want to borrow money. PeerStreet, Fundrise and Realty Shares are three of the most popular companies.

First, there’s a screening of loan applicants. If approved, crowdfunding companies offer “shares” of properties to investors.

You can own shares in a variety of properties. This can help you diversify your investments.

Here are the guidelines for the three companies mentioned above.


PeerStreet invests in short-term loans ranging from 6-24 months. They consider funding both residential and commercial properties. To invest with PeerStreet, you must meet the following criteria:

  • Minimum investment of $1,000
  • Be an accredited investor. (Accredited investors have an annual income of $200,000 or $300,000 for couples. Or they have a net worth of $1 million.)
  • Annual fee of 0.25% to 1.0%


Fundrise works with commercial investors. They fund properties all over the United States. Most are in large cities such as Los Angeles, New York, Chicago and Dallas. To invest with Fundrise, you must meet the following criteria:

  • Minimum investment of $500
  • Investors put their money in one or more of three investment funds
  • Non-accredited investors allowed
  • A 0.85% annual asset management fee

Realty Shares

Realty Shares funds commercial and residential real estate deals. They might fund a property investor looking to build office space. Or, they might fund a construction loan on a new home.

To invest with Realty Shares, you must meet the following criteria:

  • Minimum investment of $5,000
  • Be an accredited investor
  • 1% annual fee
  • Investors choose projects to participate in

The three companies offer real estate investments in different ways. However, the goal of all of them is the same. They want to help people invest in real estate without owning properties.

Crowdfunded real estate might be an option for investing in real estate. This is true if you’re unsure that you want to own and manage properties yourself.

Other Investment Options that Can Help You Grow Your Money

There are other ways for you to grow your money to get rich. You may want to start your own business or invest in an existing business.

Another option is to consider is peer-to-peer lending.

What is Peer-to-peer Lending?

Peer-to-peer (P2P) lending is similar to crowdfunded real estate. A group of regular people join to fund a project. However, in the case of P2P lending, you would fund loans instead of real estate.

Potential borrowers submit a loan application to a P2P lender. Loans can be for many different things. One reason is to get a lower interest rate on other debt.

The P2P lending company offers shares of approved loans to their investors. They share some information about the borrower and loan. For example, the potential earnings interest rate.

Companies such as Lending Club and Prosper allow you to fund loans. You collect a portion of the interest rate the borrowers pay.

To invest with Lending Club or Prosper, you must meet these criteria:

Lending Club

  • Minimum investment $1,000
  • Non-accredited investors allowed (except in Kentucky)
  • 1% annual asset management fee
  • Some states have an annual income requirement. Some states that don’t allow investing in P2P lending companies.
  • You can earn at much as 25%, although the 11 year average is around 3-8%.


  • Minimum investment $25 (You read that right!)
  • 1% annual fee
  • Non-accredited investors allowed
  • Other guidelines based on your state


I’m going to be honest. The truth about getting rich quickly is that it is going to take a lot of hard work. Many people want fast results without having to work for it.

You can invest to grow your money faster with the strategies explained above.

Educating yourself on ways to invest and get rich is key. However, you will want to avoid get rich quick schemes.

You can invest your money for solid growth potential.

Waiting years to be “rich” might seem daunting. But, it’s worth the work and time to be in a secure financial position.

The more secure you are, the bigger your range of choices in life. Financial security allows you to have options:

  • where you live.
  • where and if you work
  • what you do for fun
  • how you help others

Start on your path to getting rich today. This will increase the choices you have. You’ll work to live the kind of life you want to live. Rather than the kind of life you have to live due to financial obligations.

You deserve financial freedom.

What path do you plan to take in order to get rich? Let me know in the comments below!

For example, a three-year $10,000 loan with a Prosper Rating of AA would have an interest rate of 5.31% and a 2.41% origination fee for an annual percentage rate (APR) of 6.95% APR. You would receive $9,759 and make 36 scheduled monthly payments of $301.10. A five-year $10,000 loan with a Prosper Rating of A would have an interest rate of 8.39% and a 5.00% origination fee with a 10.59% APR. You would receive $9,500 and make 60 scheduled monthly payments of $204.64. Origination fees vary between 2.41%-5%. APRs through Prosper range from 6.95% (AA) to 35.99% (HR) for first-time borrowers, with the lowest rates for the most creditworthy borrowers. Eligibility for loans up to $40,000 depends on the information provided by the applicant in the application form. Eligibility is not guaranteed, and requires that a sufficient number of investors commit funds to your account and that you meet credit and other conditions. Refer to Borrower Registration Agreement for details and all terms and conditions. All loans made by WebBank, member FDIC.

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3 responses to “How to Get Rich Quickly & Legitimately”

  1. Sharon says:

    This has a lot of great and useful tips! What a great resource! Thank you!

  2. Prasanta Dey says:

    Hi Laurie,

    I loved your article. My favorite part was about the stock market investing idea. Thanks a lot. Keep up the good job.

  3. Josh Steinberg says:

    Hey Laurie,
    It’s a shame that the internet is plagued with ‘Get Rich Quick’ Schemes. It’s great that you are showing people that online business takes time. Patience is one of the greatest traits required for business!

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