Step 1
Work & Earn Money
- Find a job that pays good
- Do a business
- Write a book/blog or make vlogs
- Find some online freelance works
- Learn to trade financial markets safely
Technicals
Step 2
Invest in Yourself
- Get educated in higher education
- Do specialization certificates
- Learn new skills that has high demand of service
- Obtain MBA & specialization certs in high demand programming languages
- New skills like building websites/apps are recession proof
Technicals
Step 3
Avoid Consumption
- Avoid spending or spend less on products and goods
- Avoid spending on services
- Avoid taking consumption based debts
- Spending more on consumption rotates the earning back into system
- Taking consumption based debt nullifies the hours have been worked
Technicals
Step 4
Increase Production
- Purchase productive assets
- Purchase bonds to earn interests
- Use debts if required to purchase productive assets
- Example of productive assets: Dividend stocks, Rental properties, Stackable cryptocurrencies, private business with consistent/predictable cashflow
- Example of bonds: Preferred dividend stocks, FDs, P2P Lending
Technicals
Step 5
Giving Back to Society
- Develop & Design New Business
- Develop & Design New Products
- Set-up R&D to undertake favourable projects
- Create jobs & pay salary
- Only give Charity in terms of productive outcome such as scholarship, sponsorship, avoid consumption based charity unless fulfilling basic human needs