Get Rich: Martin’s Guide to Becoming Wealthy

Quick Summary:

• Wealth doesn’t come from cash—it comes from assets.

• Wealthy people buy things that go up in value and make money over time.

• Good assets include rental real estate and stocks.

• The key is to live well below your means and keep reinvesting in things that grow. Most wealthy people stay wealthy by consistently reinvesting 40 to 50% of what they earn. It’s not a one-time move—it’s a long-term habit they repeat year after year.

It’s Not About the Money in Your Bank Account

Most people think being rich means having a lot of cash.

But here’s the truth: wealthy people often don’t have much cash sitting around. Their money is tied up in assets—real estate, stocks, businesses—that grow and make money over time.

When they need money, they don’t just pull it from a big savings account. They either use some of the cash flow from their assets or sell a small piece of an asset to cover the cost. They’re not hoarding cash—they’re putting it to work.

How the Wealthy Actually Build Wealth

Wealthy people don’t just earn more—they manage their money differently.

They spend less than they earn, avoid bad debt, and use the extra to buy valuable assets.

Let’s talk about bad debt. Bad debt is anything you borrow to buy something that doesn’t grow in value and doesn’t make you any money.

Think:

• Credit cards

• Car loans

• Financing for clothes, vacations, or luxury items

These things lose value fast—and they never put a dollar back in your pocket.

Wealthy people avoid that kind of debt at all costs. Instead, they borrow only when it helps them grow—like buying a rental property or investing in a business.

What Counts as a “Good” Asset?

Not all assets are created equal. Some go up in value and make you money. Others just sit there or cost you more than they’re worth.

Here’s a quick breakdown:

• Top-tier assets: Stocks, rental properties – they grow in value and bring in income.

• Middle-of-the-road: Gold, silver – they hold value, but don’t pay you.

• Low-quality: Your personal home – yes, it might go up in value, but it costs money every month and doesn’t make income.

If you want to build wealth, focus on the first category.

How to Get Started

You don’t need to be rich to start building wealth.

Here's the playbook:

1. Spend less than you make.

2. Avoid bad debt. That means no credit card debt, no vacation loans, and no borrowing for new cars. If it doesn’t grow or pay you, don’t finance it.

3. Start investing in solid assets.

4. Reinvest what you earn from those assets.

   
   

The wealthiest people are consistent savers and re-investors. Most of them put 40 to 50% of what they earn right back into investments. If you’re just starting out, aim for 10 to 20%—that’s a great beginning. But the long-term goal should be 40 to 50%. That might take time—but that’s the goal. If you can reach it and stay consistent, your wealth will keep growing.

Final Thoughts

Becoming wealthy isn’t about luck or a huge paycheck. It’s about how you use the money you already make.

If you spend wisely, avoid bad debt, and build up a habit of investing, you’ll put yourself on the path to real wealth.

Start small. Be consistent. And most of all, keep going.