How to Think Like a Billionaire to Get Rich Quick

Andy Snyder|March 15, 2022

It’s the question we get the most.

It’s also the hardest one to answer. We can get ourselves in trouble if we get it wrong. And yet, here goes…

“What’s the easiest way to get rich quickly?”

Oh boy…

Some will pound the table and say there is no easy way to get rich quick. “It takes decades of slow and steady growth,” they say. “Start with just $10 a month when you’re 18,” they love to quip, “and by 70, you’ll be a millionaire.”

It’s that simple!

They’re right. 100% right.

But look around, sweetie… How’s that working out?

And besides, that advice doesn’t do a whole lot for the 65-year-old who worked hard, put his money into other important things (like kids, aging parents or, often, healthcare) and is now looking into a dark financial abyss.

The get-rich-slowly approach is the surest path to riches. But it’s not the only way to get the job done.

Proof

Jeff Bezos didn’t wait until he was 65 to count his change. He got rich quick.

So did Elon Musk… Bill Gates… and Mark Zuckerberg.

“Oh, but Andy, each of those guys created something big and new. I can’t invent anything. I can hardly turn my computer on.”

Okay… then how about Warren Buffett or Carl Icahn?

They don’t have any special coding skills. They didn’t create entirely new industries. They’re simply deep-value investors who put their money where their mouths are.

Here’s the thing. When folks ask us how to get rich quick, they want to go all-in. They want the ticker symbol of a company that will go ballistic and outrun them all.

But that’s only a small part of the equation… the easy part.

Each of us has a shot at all the same companies. We all could have gotten in on Microsoft, Amazon and Facebook the day they went public. Better still, our Venture Fortunes subscribers are now learning how to get in before stocks like these go public.

But getting in isn’t the hard part.

Knowing what to do next is. Here are our rules.

Proven Winners

First, we never want to bet the farm until we know the soil is fertile.

If you’ve got only a grand to invest, don’t put it all in the next hot stock tip that shows up in your email. Put a few bucks into it and watch it closely.

Dig in and do some research. Set some goals. Should earnings per share be $0.20 this quarter? Should sales hit $1 billion? Is the CEO really going to pay off that debt? (And if you don’t know how to evaluate such things, we humbly suggest that you keep opening up the Digest each morning.)

Those are the questions Buffett is asking.

If your metrics are met, buy more. Sell shares of companies that aren’t meeting your goals to fund the purchase.

Keep doing this until you’re filthy rich or the company doesn’t meet your goals.

That second one is the key.

We see it all the time. Folks say their shares are overvalued when they hit $70 each… and they sell, thinking they’re getting out at the top. They usually end up buying again when the stock hits $100.

Or worse yet, shares get caught in a quick slide and a fella sells his stake because he thinks things are going to get worse.

To a successful investor, share price doesn’t matter all that much. Valuation does.

What’s on the balance sheet counts. Cash flow matters. And the details in that 10-K report are critical.

But the difference between today’s price and tomorrow’s… Nah, that’s merely the headline. The true story is always deeper… and, most often, takes ample time to truly be revealed.

This technique won’t make you rich overnight. But it won’t take decades to get the job done, either.

Far from it.

Few folks have gotten filthy rich from their 401(k) or their IRA. But lots of folks have become yacht owners thanks to their growing stakes in just one or two companies.

Diversify your way to mediocrity. But work your way to big riches.

Find a few stocks you like. Do your homework. Know the numbers. And sell only when things no longer add up.

It may be controversial… but there’s not a billionaire on the planet who will disagree.