What are the chances of becomming rich in the stock market?
Ok, being realistic, what are the chances of becomming rich in the stock market for a pretty intelligent person and how long would it take to become rich? I know it can be done, but i dont know what the chances are of it happening.）
Answer ：
If you want to start with little money, and become a billionaire in 2 years, forget it. You’re just dreaming.
If you invest 15-20% of your income consistently and patiently over time, with an eye towards the long-term goal instead of short-term gambling, people of average incomes can have an excellent chance of eventually becoming millionaires, or multi-millionaires. But you have to do your research, and act carefully and thoughtfully.
Naturally, most people prefer the “easy” quick-riches route, which is almost certainly doomed to failure, instead of the “hard” patient slow route, which has a very good chance of success.
Posted: July 27th, 2010 under US Stock Market.
Tags: the stock market