Topic: If you want to be wealthy you need action (Read 374 times)

To be wealthy one must establish a continuous event where an input is greater than an output.  This means after all the spending there should always be an extra money left.  The bigger the better.  It all comes down to financial management after all strategies and the source of income is established. Working hard will surely give us benefit and may earn us money for our daily needs but it is not enough, it should be coupled with working smart, time management and financial management along with savings and smart investments that can exponentially grow our money.


Most of Robers Kiyosaki's books are for mind conditioning but it never truly reveals the true process of being rich.  At the end of the day it is still the reader that has to figure out what to do to achieve their goal.

For you to be wealthy in life what you really need is a good strategies to operate because many people today has been a victim of different challenges because of lack of concentration and the strategy to know some certain things that will up lifts you, so I'm not against it in all means I know quite well that time be successful is very difficult unless you are opportune to gather an accurate information that will uplift you.

When I was an ungraduate in college I would read a lot of books by Brian Tracy on sales. I wanted to be rich I wanted to be wealthy. From Brian Tracy, I will read all of Robert kiyosaki's books. I would soon find out that head knowledge doesn't translate to wealth and that you have to go out there and apply what you have read. Shockingly this books where only adapted for the American situation and not for my reality. Sooner, I began to take action based on the reality of things and not from books. So I did the reverse. I worked then I read. And started to read more on wealth from folks who achieved it and authored books in my place.  That was a big motivation, see people like me achieve it.

It is fine that you have acknowledged that one need to first acquire some knowledge before they will begin to take action. The man who has no knowledge, idea or experience about something but begins by taking action at rightly might likely fail. This is why learning should not be underrated and it is only when one must have learned a lot that they begin to earn.

The place of experience cannot be underrated in investment. An inexperienced investor is tantamount to losing while an experience investor could make good fortune from his investment. How do we get experience, first by trying. But we should not wait to try everything ourselves and make alot of mistakes before learning from our mistakes. It is permitted to also learn from others mistakes.

Well yeah effort really matter in achieving our goal to financial freedom and of course it should always comes with knowledge and patience because without all that we are nothing but a piece crap that doesn't even care about giving ourselves and our family the chance to live decent and comfortable life especially those who are in the lower class in the society like me.

I also don't like reading too many books, especially books that teach us to get rich. For me, they don't work because I think everyone's life is different and the obstacles we face are different. We can look at their success to make efforts, but don't try to copy their success formula, that formula may work for them but may not work for us.

When talking about real life, I think experience is something we should have and to gain experience we must take action. Take action immediately, don't make plans without doing anything, and always get up after every failure, we will definitely grow more mature and have experiences that money cannot buy.

It's important to take action occasionally, I agree with that. But people often have to weigh their potential gains against potential risks, and they often can't afford to take big risks because they have other people (such as their children) relying on them for support.
There is no recipe to being wealthy, and a lot depends on one's starting point, luck, and connections.
So while I support the idea of making mistakes and learning from them, I also think people should have some plan B and not go all in on risky business ideas that might, if they fail, ruin their lives and the lives of those around them.

I agree with experience. Personally, I am not good at reading books but I have various experiences. And I see experiences as process/progress. There no wealthy person who did not pass through different processes in life. It’s okay to be scared that you could fail but understand that even failure itself is part of the process.

Those who learn from life's mistakes are the ones who succeed and that is the real learning. This is why I say there is nothing wrong in life, there are only two things one experience and two crimes. That is, when a person does not learn from a mistake and does that mistake again, then it is no longer a mistake or an experience, then I call it a crime. So we have to be mentally prepared to face any adverse environment and learn from it and take the next necessary steps.

There is one quote I have seen few times and this what it says " Motivation keeps you going but actions keeps you growing" what does that mean? Action speaks louder than voices, it's best for one to be fully in action that keep getting motivations which is not put into practice.

I believe that the ability to take action after acquiring knowledge is what mades up wisdom or it's the real definition of wisdom. Is not enough to acquire knowledge or it's not enough to get motivation but it's better to acquire the knowledge in the process of taking actions.
And that's one characteristics of a successful man. There are fascinated by actions not to promises.

Trading can definitely make an individual rich, but that would only be possible for traders who have excellent skills and strategies to come up with consistent trading profits. However, if you have a high paying stable job and at the same time a skillful trader, most likely the rate to succeed and become rich in short time is highly possible. But I believe that would take a lot of efforts and learning process before you will see yourself successful in both aspects.

When talking of succeeding on bitcoin investment sometimes makes me feels as if its a kind of gambling, you know invest that doesn't guaranteed someone becoming successful often seems to be gambling and that is not a gambling, what is needed to becoming successful in bitcoin investment is to be patient and to choose the right investment strategies to succeed. Although it seems that I just jump into the discussion but most times it doesn't work that because we must look for something the could favor us to venture, one must not only rely on bitcoin investment to become successful in life. They can look at for elsewhere where they think they are very good at it, maybe some people often go to acquire skills and if they successfully acquires it they could get employed and start their jobs from there they become successfully through what they have learnt.

Don't discredit reading of books or listening to motivation speakers and other great men, what you should be against is not taking an action after reading a book or listening to great men that have achieved exactly what you're trying to achieve. Reading of books are one of the ways to learn from great writers that are writing how to achieve the success path that you're embarking on. Robert Kiyosaki is a great writer and he has written some investment and motivational books that if after reading them and you follow in his guidance, you can't still be the same loser you were before you read his books and he's also bullish on Bitcoin. Books gives you different perspective to achieving success in any field that you're reading a book about.


You shouldn't think that you'll win with your first trial but don't doubt it either because there are people doing it and you can be one of them. There are people that will have to invest in Bitcoin multiple time before making it while there are those that with their first trail they'll be lucky. We all have different paths to success and it doesn't have only one route so lets not be behaving like we must do this or that before we can become successful in life. There are some things that'll enhance your success but there are different blueprint to achieving success.

I disagree, failure makes a person stronger and learn but failure does not make the value of a person to increase, in fact bad decisions and action contribute to the failure of other people to recognize your worth.  Thus, a person who made a lot of bad result often valued less.  So it is best to lessen the mistakes we made by learning from the experience of others.  We do not need to experience a first hand error, we should avoid it as much as possible through learning the reasons why other people fail and avoid those mistakes.

Reading books, listening to the gurus is a preparation so we should not ignore them or undervalue its effect to our future actions.  Besides we must learn and plan everything before we commit any actions in order to minimize the window for mistakes.


But failure should also be not taken lightly.  If we make mistakes we should learn from it, if we fail we must learn the cause of that failure and fix it.  We must contemplate with an open mind and accept the fact that we commit a mistakes that lead to failure, learn from it, and move on with revitalized optimism that eventually, we will succeed.

Dare to take risks basically has to be conditioned and must also be adjusted to budget capabilities, knowledge and so on. You cannot take too big a risk when you are not supported by careful planning, sufficient budget, and adequate knowledge. If you start everything without having these things - then you are just gambling with your luck.

Investing in highly volatile assets like bitcoin requires planning instead of just relying on a budget. You need to find yourself to knowledgeable about how the market works, you even have to understand when to buy and when to sell again. The aim of investing is to generate returns - it should be based on a good strategy so that your chances of getting a return from an investment do not depend on luck alone.

Yes trading is risky but is certainly able to provide us additional profits if you trade with sufficient knowledge and experience. Same with physical businesses that bring us more money if you manage it cautiously and with high passion and experience.

 However, if you are not inclined into trading and you have never developed interest in trading, then there’s always other investments or mental skills that will help you progress in life. You just need to take some risk for you to be able to gain something, as we don’t wait for good things to happen in our life but we chase and create an action to make it happen.

Really! To achieve something, you must rely primarily on your experience. Only after you yourself have lost your profit will you be able to understand the risks and learn to control your actions and be able to make decisions on which your monetary income will depend. The only advice I can give to beginners is to always start small and know when to stop.

If I could understand what you are emphasizing, for any individual who really wants to make it in life, shout, act, and jump into what he wants instead of wasting time having many thoughts on it, it is obvious that you have a point, but in other words, you have made so many mistakes. Because if you really want to succeed in life, you have to have adequate knowledge about what you want to do because you are trying to take a risk, and you can't take a risk without studying and assessing the risk; if not, there will be a high chance of regretting the risk in the future.
 
There is a concept that is supposed to be believed, but most of the time it makes people go astray, which is that without failure, you cannot succeed. But what people don't understand about this concept is that you must fail before you succeed. When you assess risk, it will be better than someone who always engages in try-and-error. because you will have permanent knowledge due to your research, while if you engage in trial and error, you will always get knowledge from your mistakes. So it is two different ways of knowing and is left to you to see which one is the best.

Gaining wealth is not easy at this time because everything is difficult, businesses are collapsing, and governments are struggling to pay workers salaries. people are becoming poorer. The opportunities for wealth creation are scarce compared to before, and people are struggling to make ends meet. To be honest, generating money or creating wealth is challenging due to inflation. I doubt that anyone can easily become wealthy during inflation, except perhaps those who are already wealthy and can take advantage of the situation to accumulate more wealth. Everyone is just trying to survive and meet their basic needs. Even nations are becoming poorer, let alone individuals.

I believe this is the kind of post that requires one to speak freely and expressively, because while we would all agree that one needs to learn and acquire a certain knowledge and try to make it work and earn us some income, the basic reality is that education is very important.

From cradle of civilization till date, only those who have attained a certain level of literacy can fully and rest-assuredly, read and understand the terms and conditions or should I say they understand the ethos to abide by in any chosen field of interest, which will along the way or in the end, lead them unto success.

Action is needed, but the wisest person who attains mastery is the one who understands, can read, can write, can interpret, can formulate or create and can convince others about the thing which they are good at.

Failure makes us strong and also make us to gather more experience. We can not imagine how many times most of these old scientists tried their experiment and fail but they lastly succeeded and some of what they invented is what we are enjoying today. We need to be persistent in what ever we are doing, we need to be ready to handle every challenge we are faced with in our trip to archive wealth.

The most important thing is that if you want to be rich, you have to work hard and you have to use some special strategies that will make you earn much more than others. a donkey always works hard but he gets no benefit because he can only work hard and there is no technique to get good results with less work. so if you want to earn more in any endeavor and you want to be rich then you need to use special unique strategies that will always set you apart from others. only then can you become wealthy

I agree with you on this, success come with learning and if you must learn, you are meant to meet different people with different thinking and mindset, but as a human you should be able to identify good and bad and all time, experience matters in all we though not only in business setting but all areas of life, as someone who wants to grow financially you need people that has gone through such experience, lets also understand understand that temptation is always available once you want to progress and that's why we should know people that we listen to so that we won't miss it all in the journey to wealth.
But the major path to follow if you really want to be successful in life, you must be strategic in your plans, think before you execute it business plan, check out for profitable and trusted investments and always ask question once you are confused about a situation so that you won't make a regrettable mistake.

The results that each of us desires and achieves will represent the actions we have taken before, it would be unreasonable for someone to share their success based on luck, but that is the case occurs with a very low occurrence rate.

And I completely agree that action is a method that leads us to our goals. Facing failures seems to be something that I consider very helpful on the journey, because challenges only help us overcome them, not something that prevents success. So accept everything even if you are not satisfied and find other ways to overcome the lack of fever, something that I think if something we can be determined to achieve, it will definitely come true.

The purpose of economics is to acquire more wealth by using less money. Economics gives an idea of ​​how a person will use his money property and get a sufficient return from it. so everyone needs to have economic knowledge for money management. we waste a lot of money due to various reasons because we prefer to spend unnecessarily and because of this we lose opportunities to increase our wealth day by day. so of course we have to be very careful and save money by reducing wastage

That's true! There are many investors here who are not really rich, but because of the strategies they do to invest, they earn extra income and sometimes the investment they earn is even bigger compared to their monthly salary. It's not enough reason to lose hope or be discouraged just because we're not rich, everything today requires hard work and we need to be strategic to rise in life. if you really want to save or earn a large amount of money, you must also know how to appreciate or properly handle the money that comes into you, because sometimes when we are overwhelmed by what we earn, we don't realize that we are already spending our money on things that are not that important. Discipline is the key.

"a lion cub will never become a true lion if he does not learn from his experience and knowledge" these words are very appropriate to describe how a person who wants to be successful can achieve his goals. because if someone is only full of knowledge and no experience, then he is only a smart person, but when he has experience then he can be said to be wise in his life and that can make him a successful person. that's why it's important to have experience now and take advantage of it to be able to make progress in our lives.

Generally, knowledge without action is just waste of knowledge. This is the reason why we have thousands of knowledgeable people that are roaming around on the street but that aren't making it Big because they've failed to put what they know into practice. Most people that aren't all that smart in school end up being the successful once in life not because they understand life too much but basically because they choose to apply the little knowledge they have in doing something and while they continue doing it, they gradually learn a lot more on the job.

Wealth doesn't happen because you've read all the books about wealth creation or that you've attended all tg seminars conferences that has to do with financial bouyancy. Real wealth comes when you've learnt the little you are able to learn and then you put the knowledge you've acquired into use and find a way of monitoring that little knowledge.

I always think about the saying.. "Studying it, is not a good preparation for dealing with it."

In my experience with students coming to work at our company, many cannot handle the work or they cannot do the work, because they cannot apply the book knowledge that they gained.

You have to get in there and gain the experience and learn to adapt to the challenges and also learn from the mistakes to be succesful.

I agree with what you said, taking risks is probably the most important factor if we want to talk about getting rich. If someone has a plan and is willing to work hard but if they are not willing to step out of their comfort zone and don't want to take risks then they will never succeed and become rich. That is why many people who are highly educated, and have knowledge and experience cannot become rich, simply because they do not dare to take risks, do not dare to trade off, and accept challenges. There is no success or wealth without trade-offs, and to make trade-offs, we need to be bold.

just action is not enough.
to become wealthy you anyone need to grow balls and have the guts to take on the risk that could give us the chance to become rich, almost all of people who gained their wealth from scratches take the risk to get to that point.
If someone say they don't take risk while building their wealth from scratch they might be lying, the key is always whether or not you dare to take the risk of becoming really broke if you fail or becoming really successful if you succeed.
that I think the key point to become wealthy in my opinion.
also working harder than anyone else usually also pays off, the early bird get the most of food so they say.
so just action isn't necessarily enough to suddenly get you far, though it does indeed required as well.

To be rich of course action is required through action people work hard and become successful. Everyone around you is pushing for a comfort zone. They tend to gravitate toward jobs that everyone can do. Trading can never be the only tool to get rich. It takes time to learn trading well and understand the risks of trading. There must be other ways of doing business with him. You cannot learn anything in one day so try to understand everything well before trading.

However, trading can also be considered as an additional job that can be relied upon as an option to make money apart from other jobs. Because daily trading or short-term trading is not much different from someone who opens a business in a traditional market, who generally also targets profits from the goods he has purchased. This means that trading in the market can be used as an additional job for people who want to make money in several ways and one of them is through trading, although it does require time and knowledge to be able to do this.

That's right, there are many tool categories on how to make an individual rich. And I also agree that trading is not the only tool that can be used to advance in life. Then entering trading has considerations that must be taken into account as well.

We also know that trading is not easy to learn or understand; it really takes time before we have a broad knowledge or idea about this source of income.

I guess it’s not only trading that will help us build our wealth in the process. We can engage into other investments that have high potentials to bring us bigger profits. But still, knowledge and experience will still be the keys, as one won’t reach the success with just mere knowledge, proper action and decisions still play the highest importance.

However, the problem with people nowadays is that they value more on taking shortcuts for success. Which I think is obviously not the right thing to do. Getting knowledge and building your own experience would always be the basics to success.

I wanna say a thing about this

Anyone that listen to all those motivational quotes, read all those books on self improving and whatsoever but do nothing to implement it onto their lives is pretty much the same as doing a mental masturbation. Those things works really well on your brain and it really helps you calm yourself to reflect your lives but doing nothing to implement any of it is the worst part of it

This is very true advice, people who became rich by their own doing will have tried and failed at many more things than the average person. The average person sees failure as a negative, as a rejection and a bad thing. However an entrepreneur will see it as an idea that either needs tweaking extensively or just accept that it is the wrong moment for it - they then move on to test the next thing. This obviously works a lot more cleanly with smaller businesses and is harder to do with big business, but even those will test ideas for viability. Sometimes you have a good idea at the beginning, you see a shred of possibility in profits and you keep testing until you find the magic recipe that makes it highly profitable.

Yes, it's better to take action in order to get success in life but the actions you take should be the ones which may not cause troubles for you. Taking wrong actions will make you bankrupt instead of making you wealthy.

I have personally seen many people getting bankrupt by taking wrong actions which they thought were right ones. They thought that such actions may help them to have better lives free from financial issues but instead of having better lives they got bankrupt. That's why it's better to do research first than taking any actions.

Taking risk in a beneficial field is important and advantageous but if someone chooses in any useless field just to accept the fact the greater the risk the greater will be the reward then this is a foolish idea so take the risk where you have surety about profit.

We will take action only if we have complete knowledge, huge money, experience and patience but if any of these things are not present then we should wait a little bit more in order to not regret in future. If you have complete knowledge and then face loss then don't regret that time but utilize your knowledge in the next step to avoid previous mistakes and make preparations for coming success.

In simpler and shorter words, take the risks. No one has ever gotten rich without taking risks. Those billionaires you see on Forbes are risk takers that know what they're doing. They just applied their knowledge on something and took action, and it worked out for them!

Of course, it doesn't mean that it will work out to the rest of us, but we wouldn't know if we don't take risks. IMO, it's better to fail in trying to break out rather than try nothing at all. Approach everything with a plan and you might one day make it out of the rat race.

Wealth comes by understanding of what is required to make wealth. Actions are taken after an individual has good knowledge and understanding of what they have to do in order to grow their wealth. If you don't have knowledge about wealth creation, then every action you take can be futile because there is every possibility that you can take the wrong action. 

Learn first, and once you have gathered good knowledge about what you want to archive, you can stomp into action. 

Failure or success is a consequence that will be accepted by anyone who tries. If you fail, don't give up, but get up and try again. No success comes without sacrifice, even the richest people have failed but they keep trying and trying. The problem is with the mindset, weak people don't have a better mindset so they are too engrossed in their comfort zone.

I once received advice, it said: Don't chase the money, but chase the knowledge. Money can be made in any way if you have knowledge and skills, while without skills and knowledge you will not make money.

On the road to success you cannot underestimate learning from other people's experiences that have already gone through the business path that you want to take, otherwise you can make costly mistakes that you would've avoided if you've learned from their experiences. But I can agree that after learning from them that you should be the one to decide your own part, what you've learned from other experienced people will serve as a guide to you, so you can have a clearer vision from different perspectives. It's good to learn from your own personal, but we can not discard the experiences of successful people

I second your opinion here and yes sometimes we are so occupied with only theoretical knowledge and what we see online and deep research that we ourself keeps delaying our success by not taking actions at the right time because we want to be perfect and we want everything to be perfect without any error and that's the biggest mistake we make since we waste time and do nothing. We need to get into action, make mistakes, learn from mistake and convert those mistakes into experience.

I agree with it, if we want to succeed then we must take risk or start what you need to do, it is always better to make a move or take risk than to regret it in the future.
If it doesn't work use it as a learning experience and try to make it better in the next try, identify what you need to change in order to make it succeed in your next try.
Nothing would happen if we wouldn't take action for what we want, we could dream or think about it all day but nothing would change unless we start acting to make our dream happen.

It is true that it takes time and experience to get better, not just studying. However, we need to realize the importance of that too, because we can't just make it so that we can't really make zero money, it is not going to work out well in the end. I know that it feels like experience is the most important thing but if you know nothing about trading then you can't make a good income from it by just assuming whatever you do is right.

You need to first start with studying to get better and if you know what you are doing then you are going to get better with time eventually. So do them both, do not think experience is enough, do not think studying is enough, you need to do both and first study to be better and then you need to keep doing it to gain experience and be better that way.

Knowledge doesn't just come only through experience, you can gain it through learning. How would you prefer to make mistakes when you can learn from other people's experiences? You cannot underestimate the benefits of learning from books and experienced people. It would be unwise to venture into a business or career without doing in-depth research about such an endeavour. It is good to start and make mistakes as you engage in the activity but you can reduce mistakes by learning from others through books, tutorials and other mediums. 

These are your views. There are other viable means of making money besides the mediums you have listed. DCA works perfectly with people who are also low-income earners. All you should do is keep some funds aside weekly or monthly based on your capacity.

Non of these facts is out of line As it speak volume in me,  though not All experience is Worth taken or lesson derivative but personal experience Worth more than reading book from any source. Something happens to me after reading and watching some video on how to operate trading using demo acct for practice when I fully start I realized there is more to the system than what I read and watched, this make me concur to this experience.

The experience does not always have to be personal; personal experience can be costly.

To be rich is different from being wealthy. Wealth comes from a lot of riches. The difficulty for most people is becoming rich, but after that has been achieved, there is another challenge, which is making those riches more and more sustainable, which transforms into wealth.

If you took careful action to become rich, you need more action to be wealthy, and the action has to be intentional.

In short, focus on putting all your knowledge into application until you develop them as your new skills. Without actions and real life experiences, you will never see your own growth and real value in that aspect. That should be the real mindset for those who aspire to become rich and wealthy in the process, as knowledge alone without actions will remain useless.

Also, if you can make it happen today, do it now, don’t procrastinate. Otherwise, being lazy that keeps you procrastinating will serve as a big barrier to become successful and wealthy.

Yes, maybe you are right that action and learning from mistakes is the path to success, and that is the nature of most successful people. Because I once read that successful or wealthy people are stupid people who always make mistakes but they are persistent in getting up. That will increase your chances of getting lucky. And to become wealthy also requires luck, because luck is the main factor in becoming successful and wealthy. What happens most often is that those who make money initially get their money from someone else, through inheritance which increases their chances, but this is always a matter of luck. Don't believe the myth of entrepreneurs who are friendly, kind, talented, and thrive on their own efforts.

Those at the top get there not because they are great, but because they often had some luck when starting out, for example being born male, white, and wealthy. Because they had many lucky moments on their way to the top. So the formula for being successful is Hard Work x Unfair Advantage. But hard work remains an important factor in achieving success. Because if there is no hard work, then what is there to increase the chances of success? There are also many people who are lucky but don't make good use of the opportunities they have and end up with nothing. So everything is needed to become wealthy.

I disagree. You can still do dca method even if you do not have that huge amount of income. The idea that you cannot invest unless you are wealthy is just wrong.

If you know how to manage your finances well and you are able to save some of your income to direct to great investments then surely it is possible. If you manage to invest even in small increments but regularly then you can see some profit already after quite some time. Though of yourself you have to be careful with your money.

Index investing and DCA is the best that the majority of people can do to become more wealthy. But this only works if you have big enough income

I agree because everything you can read in books are all theoretical but the real world is full of different kinds of factors that could influence how a specific situation plays out. This is why no one nor anything can prepare you to million different kinds of different situations to happen in real life.

Exactly do not be stuck in where you made a mistake but rather go see and learn why you made that mistake and how you can make it better next time.

You need to take action and learn from the mistakes
Knowledge come only from experince.

You can read books listen all the gurus, but it's nothing compared with your own experince.
Instead of reading the books or listening the gurus learn the basics and start action make some moves because you will need to be ready to make mistakes don't take this emotionally be with mindset that you gona have nice long 3 years of working with something make mistakes don't think about them too much just make notes what went wrong and move on dont make same mistake try new way.
At the end you will have a lot experince base to see what did worked and what did not worked out.

Do not think you gona hit success with first shot just swich off all your emotions do it fast make notes fast don't get in bad mood because something did not worked
Stupid person will get smarter only with actions smart person who think too much will stay only with knowledge what all ready have.
Instead of thinking just make moves and you learn on the way the knowledge mixed with experince is what makes CEO-s that's why no matter how good is your degree of something your new work place think you have value only If you have real experinces.

Think something that experinces are like gift once you have them even bad ones your value will increase therefor your personal market value will be also higher.

Don't be stucked with bad mood If you try something and it's not working you have to be mindset that you gona make 100 mistakes yes you will make it that's normal.
People who take failures too hard will just overstress themselfes and that's why they slow down their success.