The great Richard Russell on how anyone can become rich

 
Tuesday, February 01, 2011

From Richard Russell on LewRockwell.com:

MAKING MONEY: The most popular piece I've published in 40 years of writing these letters was titled, "Rich Man, Poor Man." I have had dozens of requests to run this piece again or for permission to reprint it for various business organizations.

Making money entails a lot more than predicting which way the stock or bond markets are heading or trying to figure which stock or fund will double over the next few years. For the great majority of investors, making money requires a plan, self-discipline and desire.

I say, "for the great majority of people" because if you're a Steven Spielberg or a Bill Gates, you don't have to know about the Dow or the markets or about yields or price/earnings ratios. You're a phenomenon in your own field, and you're going to make big money as a by-product of your talent and ability. But this kind of genius is rare.

For the average investor, you and me, we're not geniuses so we have to have a financial plan. In view of this, I offer below a few items that we must be aware of if we are serious about making money...

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