How do you grow your wealth?‎

The self-made millionaire and author of the book “I will teach you to become rich” said Ramit Sethi. Building wealth may not be as difficult as many think, but there are ways that should be followed to reach wealth, although it may seem boring at times.

Sethi describes three basic ways to grow wealth and accumulate a large amount of money over the long term, including:

1. Start investing and increase the amount gradually Sethi says the first – and most important – way to grow your wealth is by investing: “Invest a percentage of your income every year automatically and increase that percentage by 1%.”

And Ramit Sethi says that investing in a low-cost exchange traded fund, such as the S&P 500, will allow your money to grow, calling it “secret investments” that the rich reach for. He says: “We often think that the wealthy have access to ‘secret investments’, referring to this type of index, and saying that this is how they make a lot of money.

1. Negotiate to get the salary you deserve: After learning how to invest your money, the next step to developing wealth is to press for a fair wage, says Sethi: “Learn the skills to negotiate your salary and get what you deserve.” Companies may still be shrinking their overall salary ranges, so it’s important to continue negotiating for the highest possible pay. Pay experts say the maximum compensation range should be 40% to 60% more than the minimum. However, in reality, the average job listing salary is around 28%, according to a Bloomberg report.
2. Seeking to start a side business:

The third step to growing your wealth, Sethi says, is to pursue a side business. “If you really want to increase your profits, consider starting a business.” When you get started, think about what you want to do, what your goals are and how long you want to commit.

The writer presents some options that must be studied: among them, rent your home this summer on the “Airbnb” platform or other rental platforms; take a job as an AI content assistant; Or apply to become a notary

It is worth noting that Ramit Sethi is an American writer and personal financial advisor. He is the author of the 2009 New York Times Best Seller I’ll Teach You to Be Rich and founder of GrowthLab.com, an advertising advice website. He is also the owner and co-founder of PBworks, a business website.