365 Ways to Get Rich (Part 4)

We’re in the process of sharing a series of tips from Forbes on how to get rich. You can read part 1 here, part 2 here and part 3 here.

If you’re one of the many people who want to get rich but aren’t sure how to go about it, these ideas will help.

Here are the next tips in the series…

#62
Defy conventional wisdom and increase your stock allocation after retirement.

#63
To make money in small-cap stocks, look for novel business methods and niches, not the next blockbuster drug.

#64
Don’t abdicate investment decisions to your spouse.

#65
Be suspicious—and investigate further—when a corporation changes its auditors.

#66
Carry a $2 million or bigger umbrella insurance policy to protect your wealth from liability suits.

#67
Warren Buffett: “Be fearful when others are greedy,  and be greedy when others are fearful.”

#68
Invest to meet goals, not to beat indexes.

#69
Clarify your own objectives by writing an Investment Policy Statement.

#70
When you get restricted stock in a startup, make an 83(b) election; if the company takes off, you’ll save big on taxes.

#71
Consider your marriage tax penalty (or bonus) before setting a wedding date.

#72
Aim to have five times your salary in your 401(k) and IRAs by age 55 and eight times before you retire.

#73
Dan Ariely: “If you can’t save money, be really nice to your kids.”

#74
Put peer-to-peer loans in your portfolio using sites like LendingClub.com for monthly cash flow and yields of from 7% to 9%.

#75
Peter Lynch: “Go for a business that any idiot can run—because sooner or later, any idiot is probably going to run it.”

#76
Never take on a mortgage just for the tax deduction.

#77
Keep no more than $250,000 in any one bank.

#78
Buy an index fund weighted to fundamentals.

#79
Remain anonymous after winning the Powerball jackpot.

#80
Work for a charity for ten years and get your federal student debt forgiven.

Read the rest of the tips on Forbes.

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