17 Ways Rich People Make Money – And Keep It!

You have probably heard the saying “The rich get richer, and the poor get poorer” at some point in your life. Now with the divide between the top 1% earners and the rest of the masses being as far apart as it ever has been, it might be worth employing some tactics that the rich folks use to keep their pennies flowing and their bank accounts stocked. 

What are some of the ways that rich people make and continue to make money? There is, of course, that very small contingent that strikes it rich by winning the lottery, inheriting their fortunes, or writing an unexpected bestseller, but they are very much in the minority.

What are some of the methods that people who are already wealthy employ to remain in the black? Keep reading for some insider hints and tips that may help you boost your bank account. 

1. Work For Yourself

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This is probably the single most important step to creating and retaining wealth. The vast majority of successful people do not trek to a 9-to-5 job every single day.

In fact, successful people, in almost all cases, work at some kind of entrepreneurial endeavor. They work for themselves.

The common thought process seems to be the realization that while you are making money for someone else, you are not making it for yourself. 

Take a look at some of the billionaires of the world like Richard Branson or Bill Gates, for example. These people all realized vast riches when they struck out and focused on their own business enterprises with incredible results.

Message received and understood: Working for yourself is the way to go when looking to create and retain wealth.

2. Learn About Money

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Stumbling across a brilliant concept or a lucrative investment can happen from time to time, but the reality is that most money-making ventures come from hard work and time invested.

Try to learn what you can about money: how investing and the economy work, how money can impact your life, and where you should invest or save it.

Learning some basic economic principles will put you in good stead. Money education will never be wasted.

Think about it: people generally don’t just dump money into the stock market and hope that their gamble will pay off. They study and learn about the stocks and the companies behind them. They even learn about stock market charts, patterns, and trends, and buying or selling indicators. 

They educate themselves in the area in which they will be operating, and you can do the same. It can be stocks, investing, property, your business, or a whole slew of other areas, but the point is that you must dedicate some time and really learn about what you are doing. 

3. Invest In Yourself

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Once you have learned about money and how it works, another worthwhile task that will reap good dividends is to invest in yourself. This means putting some time, money, and effort into training, courses, or qualifications.

Once you have decided on the area in which you will work, whether that be software development or sales, it is worth putting money into self-development. This will help you gain or improve skills that you need to become an expert in your field.

It will also help you to increase your income earning levels. If you can position yourself as a leading expert in something that can be of use to people, you have cracked the code. 

As you progress, remember to keep investing in yourself to improve your skills and abilities and to stay ahead of changes and developments in your industry. Rich people take the time to invest in themselves continually.

Why? Because they know it pays off, and it will for you too.

One of the best ways to invest in yourself is by picking up a useful skill such as learning about affiliate marketing or building a business with Amazon FBA.

4. Generate Multiple Income Streams

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The smart entrepreneur knows that to keep income flowing nicely it needs to come from more than just one source. The wealthiest people in the world have many different streams of income that generate money for them. 

They identify and invest in things that can pay them great dividends, and we are not just talking about the stock market here. That route can work too, but entrepreneurs will sniff out multiple areas to create income for themselves. 

They may generate specialized items that can be sold or have many properties that pay monthly profitable rent or possibly charge top dollar for consultancy services. Whatever it is, you can be sure they are not relying on their main job or venture to provide all of their income. 

Instead, their income will trickle in from many different sources to keep their bank accounts healthy.

5. Invest and Save

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Rich people didn’t get where they are by being stupid. They also know that they won’t stay where they are unless they get some healthy investment and savings accounts up and running.

Rich people invest in a lot of stuff, whether they are cryptocurrency wizards or super venture capitalists. They know that risk can yield dividends.

Of course, it is a calculated risk–some won’t pay off, but some will. That’s where you make the money.

Speaking of risk, you will have to be prepared to take some if you want to realize great wealth. This can be a scary prospect and could mean losing all your hard-earned funds.

Do some research, take advice from other successful people, and start small. Think about diversifying your portfolio, and have multiple investment areas with varying levels of risk. This can help mitigate losses.

6. Develop a Passive Income

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Once you have some savings and investments and you have generated a few different streams of income, you will want to consider making some of those streams into “passive income.” This is income generated that flows your way without having to make a lot of effort.

As an entrepreneur and a wealthy person, you will have a lot of different things to manage, so making some of your wealth come to you automatically is a great idea.

Sound too good to be true? Well, it’s not.

While creating this type of income may take some effort upfront, it should reach a point where you can adopt a hands-off approach, and the money will still continue to come in. This can be from things like real estate rental, high-interest accounts, or even a website that you have monetized and now just “ticks over” on its own.

7. Live Within Your Means

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People who are truly wealthy don’t throw money around carelessly–not the smart ones anyway.

While they may have a state-of-the-art Lamborghini or regularly blow what most of us would consider an annual salary at Gucci, most rich people are not spending money they can’t afford. Meaning, they make an effort to live within their means. 

It sounds like the kind of thing most of us roll our eyes at because it’s not very exciting, but living within your means keeps debt away and creates an excess of income that can be invested or saved every week or month.

Living frugally can give you great benefits. You are not going to get rich paying extortionate interest charges on your credit card every month.

Live within (or below) your income levels, and use the extra money more effectively. 

8. Be Careful With Friends and Family

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While it is super to be generous or magnanimous with your wealth, there is a well-documented history of friends and family repeatedly knocking on a wealthy relative’s door looking for a free handout. It may be a crisis or a legitimate loan they are requesting, and your instinct might be to help them. 

Presumably your friends or family are also decent people who would not be looking to take advantage of you.

Just as a word of caution, however, to keep a close eye on the requests coming your way. If you are not careful, it can cause habitual or dependent behavior rather than just extending the temporary help that is needed. 

It is easy to be so nice that you end up with a never-ending stream of requests for assistance. If you feel that people are coming to you just because they feel you are a pushover, it may be time to back off a bit and force them to stand on their own two feet rather than just handing them a wad of cash.

9. Be an Early Adopter

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This does not mean that you run out and throw money at every crazy or hair-brained scheme that comes your way.

However, do keep an eye on the news–especially in the world of technology and business.  New ideas are surfacing all the time, and there is often an opportunity to get in on the ground floor.

Often being the first to support some new or emerging technology or helping with the development of new ideas can be very lucrative. Early adopters made out big in the dot-com boom of the 90’s by being open to and having the courage to get involved with something new.

The same can be said of early adopters in the Cryptocurrency market. People bought this new currency for just a few dollars in 2010 and made out big when prices spiked to an all-time high in 2018. 

Admittedly, it was a long game with an eight-year wait to achieve profits. However, if you were someone who bought a handful of currency for $100 per coin and then sold it for $19,000 per coin, you didn’t mind the wait. 

10. Choose Your Friends Carefully

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Birds of a feather flock together. You are judged by the company you keep.

Many sayings point to the fact that the measure of a person can be indicated by the people with whom they surround themselves. These adages are well-founded. 

People who are millionaires tend to hobnob with other millionaires. It’s not because they are being elitist; most people tend to consort with those who are on the same level as them and who have similar interests and lifestyles.

Wealthy people tend to gravitate towards those who are also successful and to ditch the naysayers. Positivity is key and no one wants someone in his circle that is negative or brings people down.

Take a look at your inner circle, and make sure your closest group of people are trustworthy and positive. This ultimately reflects on you.

11. Network With Other Successful People

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After you have assessed your group of peers, you might want to think about adding one or two people to your inner circle. Networking with similar people can help expand your circle of friends and also provide value to you. 

If you can successfully network with someone who has already achieved a level of success that you would like to attain, this person can be a valuable mentor for you. It is worth attending conferences and business events where you can rub shoulders with like-minded people and forge relationships. 

This is a great investment of your time to get your name out in circles you would like to join. It may even open up business opportunities for you down the line that may not normally have come your way.

These affiliations can put your name high on the list in people’s minds when it comes to offering you possible opportunities. 

12. Don’t Ever Give Up

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People who are rich have a level of persistence that is not usually present in most people.

The wealthy folks seem to tirelessly work away at their craft, make business relationships, cultivate new opportunities, and generally just never stop. Being patient, determined, and dogged can set you apart from the typical person on the street.

Success is about dedication and remaining 100% focused on your goals.

A common trait of rich people is persistence, which is more important in some cases than ability or education. Rich people continue to push forward no matter what.

They find ways to overcome or navigate around obstacles. They keep going until that call is answered or that deal is signed.

Adopting a “failure is not an option” approach will help you push ahead like other wealthy people do and help you achieve your goals. And speaking of goals…

13. Set Your Goals

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Wealthy people and successful entrepreneurs have a knack for goal setting. They set small and large objectives then determine a route to help them reach those objectives.

This helps with planning. By determining obstacles, you can better prepare to overcome setbacks. 

We have already covered the fact that wealthy people are dogged and determined; goal setting is just another way this is proven. Once the series of goals are set, the rich person will follow the path step by step until each goal is achieved. 

Issues and delays only cause small hiccups. The successful or rich person will strive to get back on to the path as quickly as possible and on to the next goal.

This goal setting or road mapping creates a focused guideline to follow until the final objective is achieved. 

14. Take Care of Yourself

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To maintain your best performance you need to stay in tip-top condition. While this may seem like a strange item to include on this list, the reality is that no one ever made much money while laid up sickly in their bed.

Rich people take time out of their busy schedules to go to the gym, run, swim, meditate, or do whatever else they need to do to make them feel good. Staying healthy and alert is of high importance to most wealthy people.

They know that to be plagued by bad health could be to lose everything, so they put much effort into maintaining themselves physically as well as mentally.

If you are busy creating your empire and investing in training courses or qualifications, then don’t forget to take care of your body too. Your physical health cannot take a backseat to your fiscal health.

15. Have No Fear of Failure

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Wealthy and successful people have no fear of failure. From time to time, every successful entrepreneur will get involved in a venture that just goes wrong.

Maybe it doesn’t get off the ground, or maybe it doesn’t yield the profits that were expected. Whatever the case, wealthy folks view their failures as an opportunity for improvement rather than a complete disaster. 

Taking the data from the failed venture, a wealthy person will routinely dissect and assess the events leading up to the failure. He will ask himself, “How did that happen?”, “How could that have been done differently?”, or “How could this have been done better?”

Using the information and data he collects, the rich person will begin his next venture more informed and able to fine-tune his processes and to avoid the same pitfalls. Failures for wealthy people are often regarded simply as a learning opportunity.

16. Estate and Tax Planning 

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While this is not meant to be tax or legal advice and the subject can seem a little yawn-inducing, the reality is that wealthy people make full use of things like tax breaks and estate planning to make sure their wealth stays healthy and continues. 

Rich people usually have a financial adviser or at the very least a good accountant to help keep their financial affairs in order. No one wants all their earnings to end up in the hands of the taxman or the government, so a little planning can go a long way. 

Taxes can be high if you fall into an above-average income bracket, so it is important to know how these requirements will affect you both in the short term and the long term. Estate planning can be a consideration if you want to decide where your money goes when you are not around anymore and who is going to benefit from it.

17. Treat Yourself to Vacations

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While wealthy people understand that they need to take care of their health and well being by looking after their daily needs, sometimes it requires more than a daily workout or meditation. Successful people understand the importance of relaxing properly and reconnecting with friends, family, or even nature.

Whatever it is that restores them, it is widely understood that time to relax and vacation is important in maintaining overall health and well being. A trip to the beach, the lake, or the mountains is recognized by the wealthy as a way to recharge their batteries and restore their energy reserves.

As wealthy folks usually run full speed ahead in pursuit of their goals, these quiet times away are invaluable in maintaining equilibrium. Too much work and not enough rest can lead to burnout, and rich people recognize this.

Make sure you take enough time from your busy schedule to carve out time for yourself or to spend it with loved ones.


These tips should help you in your quest to create a wealthy lifestyle. While it does not come easy, and let’s face it anything worthwhile rarely does, it is achievable with focus, dedication, and application. 

The wealthiest people in the world are not necessarily the most intelligent or most educated. While these traits can help, this doesn’t generate money all by itself.

Your level of success will be decided by your level of persistence and determination. Your riches can be increased by the amount of time and effort you are prepared to invest.

As T. Harv. Eker said:

“It’s simple arithmetic: Your income can grow only to the extent that you do.”

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