It has never been easier than in the present to become rich. One trend that is catching up is the use of automated trading systems like the Ethereum code that provide a platform for the experienced and the novice to enter the field of trading and make profits. Find out more about this software and learn how to increase your wealth.
While making money seems to be really simple remaining wealthy has become a challenge for many with taxes skyrocketing. Not only that the wealthy always attract unscrupulous elements who are always on the lookout to rob the rich. Here are a few ways you can hope to retain your wealth.
- Lead a simple life: One of the most important rules that all those who wish to safeguard their wealth follow is to live a simple life. You do not have to flaunt your wealth. Begin with driving a car that is economical. Whenever possible take the public transport; this not only is beneficial for your pocket but also for the environment as your carbon footprint becomes smaller.
Live modestly, of course, that doesn’t mean giving up comforts and simple luxuries that give you pleasure but don’t be showy and attract undue attention. Simple living will not affect your bonus or salary increment which might otherwise suffer due to the unnecessary display of wealth as most people think why should the rich get any richer.
- Don’t let out real financial worth: There certainly will be times when you want to scream your wealth from the top of a building, but why attract the attention of unscrupulous friends and relatives besides alerting the taxman. It is nobody’s business to know how much your annual income is; it is better to keep your income under wraps. Not everyone will be happy with your success and often your wealth may stand in the way of your progress at your workplace.
- Have a diversified investment portfolio: The richest of the rich always diversify their assets to protect their wealth in case one fails, the others can still bail them out. Thus, don’t invest everything in real estate or private equity, cryptocurrencies etc. but spread it out evenly.
- Be charitable: Not everyone might be lucky like you and have tons saved in bank accounts and other assets. The world is full of unfortunate people who can do with a helping hand; give your time and money liberally to these people and you will find a new meaning in your life. You can set up a charitable trust for various causes across the city.