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This Is the Fastest but Hardest Way to Get Rich, According to a Financial Expert

It's probably not what you're expecting.
This Is the Fastest but Hardest Way to Get Rich, According to a Financial Expert
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It's probably not what you're expecting.

There are people who would say that following your passion is bad advice, but a study featured on CNBC Make It says otherwise.

The "Rich Habit" study, spearheaded by accountant, financial planner, and author Tom Corley, notes that the fastest way to becoming rich is to actually become a "dreamer," or one who follows their passion.

"[Dreamers] are all in pursuit of a dream, such as starting their own business, becoming a successful actor, musician, or best selling author," he writes. "Dreamers love what they do for a living, and their passion shows up in the bank accounts."

In fact, after documenting the daily activities of 233 wealthy individuals for five years, the data revealed that 28 percent of the participants followed their passion, had an "average net worth of $7.4 million," and "were able to accumulate that wealth over a period of roughly 12 years—that's faster than saver-investors, those with advanced degrees, or those who try to climb the corporate ladder.

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Many dreamers are entrepreneurs, and some of the wealthiest and most famous ones include Bill Gates, among others; however, it's not an easy path to take. As mentioned in another article, "The point is that starting a business isn't the cure-all to your financial woes." You'll have to be ready to fully commit to long hours, insane amounts of stress, disappointments and failures, and yes, financial losses. "Dreamers stay in the game because they are extremely confident that they’ll succeed—and they’re willing to pay huge dividends down the road to make things happen," says Tom. Lastly, remember that you shouldn't only run on passion: you also have to be logical and smart enough to keep your head out of the clouds and your feet on the ground.

Looking for financial help to jumpstart your business? A personal loan is a good way to go. Study your option using the Female Network Personal Calculator. Click here to try it out.

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*This story originally appeared on FemaleNetwork.comMinor edits have been made by the Preview.ph editors.

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