A lot wealthy people not smart they just use debt

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Quote from: MissNonFall9 on August 11, 2024, 11:34:46 PM

People who do not want to take loans in business development may not actually take the right steps or are afraid of taking loans but fear is a hindrance to any success. Either they have to use their capital to scale up the business or resort to debt. However before taking a loan he should have a broad understanding of all his business activities so that he does not face any threat in using the loan money. Because losing money is not a desirable event for anyone therefore one should always carry out the business activities consciously with great dedication.

Every businessman often takes out loans from banks for business capital and they generally already have asset reserves that can pay off debts if the business they have run does not reach the target, so my assumption is that loans do not always have a positive impact on business unless you have been involved in business before and You have a plan and strategy to develop your business.

I have discussed this with business people, they avoid using capital from selling assets and choose to take out loans from banks, but they have experience running their businesses so they can pay off debts in 3-5 years.

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Quote from: Farma on August 08, 2024, 01:22:58 AM

Quote from: MissNonFall9 on August 07, 2024, 09:30:10 AM

We will see that almost everyone who is involved in business in the world is engaged in more or less debt because the most important thing for business growth is capital. So those who want to achieve the desired success in their life but are not able to provide sufficient capital for that success with their own money must involve themselves in loans. However there is definitely a need for adequate research and analysis. Otherwise there will never be a touch of success. But you are right that no one should get involved in debt unless necessary. But their business will be a single business or retail business in that case it will not be possible for them to do large business.

Taking a loan to develop a business, of course, it will be very good, but they must first prepare themselves so that the loan they take can be used appropriately and can also pay off their debts because without having good preparation, of course they will have problems when deciding to take a loan and for some people who do not want to take a loan to develop their business, of course, the business they have It is not feasible for them to develop, so it would be better for them not to take loans because they are not yet able to face competition and if they want to develop their business, of course they have to work even harder so that they can develop as time goes by.

People who do not want to take loans in business development may not actually take the right steps or are afraid of taking loans but fear is a hindrance to any success. Either they have to use their capital to scale up the business or resort to debt. However before taking a loan he should have a broad understanding of all his business activities so that he does not face any threat in using the loan money. Because losing money is not a desirable event for anyone therefore one should always carry out the business activities consciously with great dedication.

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Quote from: Yeesha on August 05, 2024, 03:50:00 AM

Some wealthy people are smart but some are not smart, because when some of them borrow money and invest it in a business after making a lot of profit for them to pay back their debt, they will not rather they will keep carrying loans again and again, because they are afraid that if they pay the debt their profit will deduct.

and what will happen when the people decided to collect their money with force, the business will eventually collapse.

That's not how it works, you definitely lack knowledge in this area and it's evident from what you said. Rich businessmen believe that it's important to always have business debt or loans because that motivates them to keep building and upscaling their businesses to generate more revenue and be able to repay the loans, but when they repay those loans, they take more to build more and have more revenue, and this continues.

They don't overdo their loans so that they are forced to repay the money or their businesses collapse, they repay the loans that have reached the deadlines, and take new loans, and then grow their business again.

If you say that these people aren't smart, you are wrong, because being able to manage loans in an effective way is a smart thing to do and not everyone can do that.

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Quote from: Alphakilo on May 09, 2024, 03:35:52 AM

Wealthy people love debt. Unlike the poor people who just want to get out of debt as fast as possible, the wealthy are looking for more ways to increase their debt. In school I was taught that there are two types of debt the good debt and the bad debts.

Wealthy people are in the good type debt. Good debt is money borrowed to invest in a business like real estate , restaurants, or property whose value will bring in more money than the debt. However bad debt is there borrowed to buy liabilities. This is where the wealthy are smart. Their debts are the good kind of debt that increases their wealth despite being in debts.

As my economics professor would say, Using someone else's money (debt) to increase your own wealth is a skill the wealthy have mastered.

I find your contribution to this topic to be very brilliant, most people don't know that the rich people in society are the ones indebted the most more than poor people..But there is a difference between when a rich person and a poor person is in debt, Someone that's rich has things going on like a business or investment and all that person needs is just a little time to clear it up , it's always easy for those that are wealthy to pay up what they owe but a poor man that's in debt might find it very challenging because he doesn't have a source of income
My opinion on this is, Only the rich has the capacity to have a lot of debts and settle them comfortably

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Quote from: N.O on August 08, 2024, 12:45:27 PM

Quote from: jaberwock on May 11, 2024, 03:56:41 PM

Quote from: bluebit25 on May 11, 2024, 02:22:25 PM

That is the behavior of a certain group does not represent the whole of what is going on in the financial system, so the further question is where are the people who are debt-free and still rich?

But in this situation, I feel that the behavior of reinvesting in debt and still succeeding is like the way a balloon is filled. Things will explode until they can't balance their operations, but nonetheless, everything they reflect gives some perspective on the potential for major risks that haven't happened yet.

Maybe if you could do a survey, you will find those rich people that are still free of debts. With that said, their numbers can only be small because I also notice that many rich people do always have a debt. Sometimes poor people are better than them in terms of it because poor people are already poor and don't want to increase their headaches anymore by having a debt.

The only good thing about rich people who have a debt is they have businesses, investments and others... This is where they use the money that they borrow. I think most rich people who does this are smart and strategic, so they also know how or when to stop once they think things are not running well anymore.

You are absolutely right. I also saw many people , who did not use debt but they are rich man's of our society. They are multiplying their money by investment in their business, property and commodities. They have mindset of rich people and they can tackle any kind of situation, they are doing the investment consistently. In comparison, if poor mindset people will have a more money, he will buy luxury car and luxury apartment and he will not investment on his financial education. That is basic difference between rich and poor people. Poor people always maintain their schedule and they work for their employer but rich person work for theirselves and poor people work for rich person.

You need to understand that sometimes the truth can be far away from the lies we have been seeing in a TV. Many of the rich investors we have been seeing are all in debts. This is how the world revolves and we just have to admit it. How would they see such funds in growing another business. Sometimes they don't have any option that to go to bank and get loan to continue their businesses. People get right fast and create a big businesses that is worth billions because of the loan they took that have been helping them to grow faster without anyone knowing what's happening or where they see the money for improving their business regardless of the hardship and shaky economy.

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Quote from: jaberwock on May 11, 2024, 03:56:41 PM

Quote from: bluebit25 on May 11, 2024, 02:22:25 PM

That is the behavior of a certain group does not represent the whole of what is going on in the financial system, so the further question is where are the people who are debt-free and still rich?

But in this situation, I feel that the behavior of reinvesting in debt and still succeeding is like the way a balloon is filled. Things will explode until they can't balance their operations, but nonetheless, everything they reflect gives some perspective on the potential for major risks that haven't happened yet.

Maybe if you could do a survey, you will find those rich people that are still free of debts. With that said, their numbers can only be small because I also notice that many rich people do always have a debt. Sometimes poor people are better than them in terms of it because poor people are already poor and don't want to increase their headaches anymore by having a debt.

The only good thing about rich people who have a debt is they have businesses, investments and others... This is where they use the money that they borrow. I think most rich people who does this are smart and strategic, so they also know how or when to stop once they think things are not running well anymore.

You are absolutely right. I also saw many people , who did not use debt but they are rich man's of our society. They are multiplying their money by investment in their business, property and commodities. They have mindset of rich people and they can tackle any kind of situation, they are doing the investment consistently. In comparison, if poor mindset people will have a more money, he will buy luxury car and luxury apartment and he will not investment on his financial education. That is basic difference between rich and poor people. Poor people always maintain their schedule and they work for their employer but rich person work for theirselves and poor people work for rich person.

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Quote from: Gaza13 on July 13, 2024, 11:26:05 AM

Quote from: Mr.sprin on July 07, 2024, 11:36:08 PM

Rich people are now thinking about developing their business, going into debt is not because they are not smart, by taking loans they are trying to expand their own business, that way they will expand their business network so that they can easily cover their loans, because the more capital they spend on expand their business, the more profits they can achieve, so thanks to their extensive network they can easily compete with the market, they take out loans after their market is stable and they can also allocate their funds well and in an orderly manner, they must also be able to organize financial management them as best as possible so that they are not harmed by the proceeds of the loan.

Of course, they already have a thorough speculation before they try to borrow a loan from the bank. Of course, their businesses have gone well financially or the profits can be predicted and from there they can cover each other or help with the loans. That's how successful people use their money to build their new business.

Smart people take loans to start multiple businesses. Even in real estate, people take loans and build houses while doing so they have a period when they are expected to pay back the loans and they will. I dont see it as anything wrong to take loan though as long as there is a business or contract that is ongoing and when the money is realized from it then the debtor would immediately pay back the loan.

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Quote from: Dewi Aries on August 05, 2024, 09:59:58 AM

Actually, it is not wrong when the borrower takes rude action because they must be furious with those who are always late or even postpone the payment time that should be. In addition, even though the borrower has financial problems with the excuse of not being able to pay because their finances are not yet stable, it does not have a big effect, because everyone has a different character so it is impossible for everyone to accept this reason. Also, if they borrow from an official party such as a bank, I think there will be no tolerance that really gives opportunities, maybe only giving time in a matter of days.

If someone borrows from an official party such as a bank, of course the bank will not charge it with anger even though they may also be furious because they have experienced delays in payment for whatever reason. However, the bank will usually be more inclined to seize the collateralized assets before borrowing so that the borrower will experience the loss of their collateral assets and the bank will auction the assets in order to be able to pay off their own money.

In addition, it is true that parties such as banks or other official companies will not provide a longer time for the repayment. Because they will only carry out the rules as previously promised and there will be no longer opportunities for people who have payment problems because the consequences are like that when someone is late in paying it.

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Quote from: MissNonFall9 on August 07, 2024, 09:30:10 AM

We will see that almost everyone who is involved in business in the world is engaged in more or less debt because the most important thing for business growth is capital. So those who want to achieve the desired success in their life but are not able to provide sufficient capital for that success with their own money must involve themselves in loans. However there is definitely a need for adequate research and analysis. Otherwise there will never be a touch of success. But you are right that no one should get involved in debt unless necessary. But their business will be a single business or retail business in that case it will not be possible for them to do large business.

Taking a loan to develop a business, of course, it will be very good, but they must first prepare themselves so that the loan they take can be used appropriately and can also pay off their debts because without having good preparation, of course they will have problems when deciding to take a loan and for some people who do not want to take a loan to develop their business, of course, the business they have It is not feasible for them to develop, so it would be better for them not to take loans because they are not yet able to face competition and if they want to develop their business, of course they have to work even harder so that they can develop as time goes by.

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Op I must say you post is too long but I will reply according to your topic. I would say the rich love Dept and you can't conclude that they are not smart because you have no proof. As a matter of fact rich people make more money from dept and become more richer. For example a rich man may take a loan of $1m from bank with the interest of $100k, After making $1.5m he may return $1.1m to bank and will be left with profit of $400k without no stress and he may chose to use his profit to work for himself and make more money. If I may ask from my analysis is that not smartness?

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Quote from: uswa56 on July 12, 2024, 10:07:00 AM

Quote from: MissNonFall9 on July 12, 2024, 01:09:25 AM

Every businessman is a little more intelligent than the common people because in order to do business a lot of thinking research observation and vision needs to be done. Moreover it is never possible to make a profit in business. The issue of debt is a matter of deeper thinking research and foresight because businesses are for profit now if they can't make a profit with debt then there is no need to take debt. They take recourse to debt so that they can profit from it without spending their own capital. So do not know if they are smart but they are intelligent compared to other common people.

To be successful in a business of course someone must have intelligence in order to make the right decisions for the business they run because without sufficient intelligence of course they will find it difficult to make the right decisions and can benefit the business they run and in terms of doing loans to develop a business, they have of course seen the development of the business so they have the courage to take a loan and develop the business they are running and if they feel that they do not have the readiness to develop the business they will of course choose not to take the loan if they don't need.

We will see that almost everyone who is involved in business in the world is engaged in more or less debt because the most important thing for business growth is capital. So those who want to achieve the desired success in their life but are not able to provide sufficient capital for that success with their own money must involve themselves in loans. However there is definitely a need for adequate research and analysis. Otherwise there will never be a touch of success. But you are right that no one should get involved in debt unless necessary. But their business will be a single business or retail business in that case it will not be possible for them to do large business.

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Quote from: bestcoins1 on August 05, 2024, 05:31:42 AM

You also have to think that in such a case there will be no one who deliberately collects money or debts by force from the debtor if the borrower always pays on time and does not violate the rules of the initial agreement. Because people who collect by force are the result of late payment of their debts so that the more subtle method will not be used by the debt collector because he might think that the borrower will deceive him by deliberately not paying on time.

And for the matter of smart people, it actually really depends on the way of thinking of each person (regardless of whether the person is rich or poor), because smart people will not go into debt twice for the same thing if they already have business capital from loans that they have paid off previously. In addition, rich people who are not smart will be easier to fool by poor people who are smart so they should be able to realize that they have to be smarter when they are rich because it will be very dangerous for themselves if they are still stupid in a condition that is already rich.

Actually, it is not wrong when the borrower takes rude action because they must be furious with those who are always late or even postpone the payment time that should be. In addition, even though the borrower has financial problems with the excuse of not being able to pay because their finances are not yet stable, it does not have a big effect, because everyone has a different character so it is impossible for everyone to accept this reason. Also, if they borrow from an official party such as a bank, I think there will be no tolerance that really gives opportunities, maybe only giving time in a matter of days.

You are right, if those who are already rich but still stupid, then they could possibly lose their wealth for nothing. Lucky for those who are rich and smart because they can secure their finances by not borrowing money, but I think even though they are rich, they must have borrowed money in their lives and may even still be involved in loans.

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Quote from: Wakate on August 02, 2024, 03:46:39 PM

Quote from: Gaza13 on July 13, 2024, 11:26:05 AM

Of course, they already have a thorough speculation before they try to borrow a loan from the bank. Of course, their businesses have gone well financially or the profits can be predicted and from there they can cover each other or help with the loans. That's how successful people use their money to build their new business.

Many businesses are built on loan so I don't see anything wrong with taking a loan and using the money to get ourselves a better businesses that would be yielding profits for us. Many of the billionaires we are seeing today are on a steady loan to grow their businesses and because they do not have a start up capital to expand their businesses or jumping into another kind of investment, they would always need to get money from the bank to startup the business they want to invest in. There are so many small businesses we can invest in and make some profits for ourselves just like investing in Bitcoin and other cryptocurrency.

For people who are struggling in the business world, taking loans is something common. They are also not careless in taking loans, they will consider it very carefully so that the loans they take will not be in vain or even become a problem in the future. The bigger a person's business or business, the bigger the loan they will receive. They must also know very well what risks they take before they take loans and they accept them. In my country, we can see the amount of wealth owned by officials, and some of their wealth is in the form of debt. It's okay to take loans, as long as we have a clear reason. Don't let us take loans without any reason, especially if we use them for consumption and partying, I will oppose it. Because we have to be responsible for what we do, don't let it create a new problem.

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Quote from: Yeesha on August 05, 2024, 03:50:00 AM

Some wealthy people are smart but some are not smart, because when some of them borrow money and invest it in a business after making a lot of profit for them to pay back their debt, they will not rather they will keep carrying loans again and again, because they are afraid that if they pay the debt their profit will deduct.

and what will happen when the people decided to collect their money with force, the business will eventually collapse.

You also have to think that in such a case there will be no one who deliberately collects money or debts by force from the debtor if the borrower always pays on time and does not violate the rules of the initial agreement. Because people who collect by force are the result of late payment of their debts so that the more subtle method will not be used by the debt collector because he might think that the borrower will deceive him by deliberately not paying on time.

And for the matter of smart people, it actually really depends on the way of thinking of each person (regardless of whether the person is rich or poor), because smart people will not go into debt twice for the same thing if they already have business capital from loans that they have paid off previously. In addition, rich people who are not smart will be easier to fool by poor people who are smart so they should be able to realize that they have to be smarter when they are rich because it will be very dangerous for themselves if they are still stupid in a condition that is already rich.

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Quote from: Wakate on August 02, 2024, 03:46:39 PM

Quote from: Gaza13 on July 13, 2024, 11:26:05 AM

Quote from: Mr.sprin on July 07, 2024, 11:36:08 PM

Rich people are now thinking about developing their business, going into debt is not because they are not smart, by taking loans they are trying to expand their own business, that way they will expand their business network so that they can easily cover their loans, because the more capital they spend on expand their business, the more profits they can achieve, so thanks to their extensive network they can easily compete with the market, they take out loans after their market is stable and they can also allocate their funds well and in an orderly manner, they must also be able to organize financial management them as best as possible so that they are not harmed by the proceeds of the loan.

Of course, they already have a thorough speculation before they try to borrow a loan from the bank. Of course, their businesses have gone well financially or the profits can be predicted and from there they can cover each other or help with the loans. That's how successful people use their money to build their new business.

Many businesses are built on loan so I don't see anything wrong with taking a loan and using the money to get ourselves a better businesses that would be yielding profits for us. Many of the billionaires we are seeing today are on a steady loan to grow their businesses and because they do not have a start up capital to expand their businesses or jumping into another kind of investment, they would always need to get money from the bank to startup the business they want to invest in. There are so many small businesses we can invest in and make some profits for ourselves just like investing in Bitcoin and other cryptocurrency.

Definitely tools, like a hammer or a saw. Let's not believe fairy tales that debt suddenly leads to success, though. Borrowing by billionaires? That is risky, and it's not just the money that makes you do it. Putting money into crypto or small businesses? Basically, it's gambling. You can bet on either the banks or the market, because the odds are in their favor. Are we really on our own, or are we just parts of a bigger economy that makes money off of our hopes and fears? We can't move because of loans, not just financially but also mentally. Businesses can grow with their help, but at what cost? The worry and constant market watching make it feel like a psychological war zone

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Some wealthy people are smart but some are not smart, because when some of them borrow money and invest it in a business after making a lot of profit for them to pay back their debt, they will not rather they will keep carrying loans again and again, because they are afraid that if they pay the debt their profit will deduct.

and what will happen when the people decided to collect their money with force, the business will eventually collapse.

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Quote from: Gaza13 on July 13, 2024, 11:26:05 AM

Quote from: Mr.sprin on July 07, 2024, 11:36:08 PM

Rich people are now thinking about developing their business, going into debt is not because they are not smart, by taking loans they are trying to expand their own business, that way they will expand their business network so that they can easily cover their loans, because the more capital they spend on expand their business, the more profits they can achieve, so thanks to their extensive network they can easily compete with the market, they take out loans after their market is stable and they can also allocate their funds well and in an orderly manner, they must also be able to organize financial management them as best as possible so that they are not harmed by the proceeds of the loan.

Of course, they already have a thorough speculation before they try to borrow a loan from the bank. Of course, their businesses have gone well financially or the profits can be predicted and from there they can cover each other or help with the loans. That's how successful people use their money to build their new business.

Many businesses are built on loan so I don't see anything wrong with taking a loan and using the money to get ourselves a better businesses that would be yielding profits for us. Many of the billionaires we are seeing today are on a steady loan to grow their businesses and because they do not have a start up capital to expand their businesses or jumping into another kind of investment, they would always need to get money from the bank to startup the business they want to invest in. There are so many small businesses we can invest in and make some profits for ourselves just like investing in Bitcoin and other cryptocurrency.

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Quote from: Alphakilo on May 09, 2024, 03:35:52 AM

Wealthy people love debt. Unlike the poor people who just want to get out of debt as fast as possible, the wealthy are looking for more ways to increase their debt. In school I was taught that there are two types of debt the good debt and the bad debts.

Wealthy people borrow to make themselves richer while poor people borrow to take care of somethings that where they are different, the mind of wealthy people are more wide than poor people in times of think and also creativities, but all is with the help of money.

Quote

Wealthy people are in the good type debt. Good debt is money borrowed to invest in a business like real estate , restaurants, or property whose value will bring in more money than the debt. However bad debt is there borrowed to buy liabilities. This is where the wealthy are smart. Their debts are the good kind of debt that increases their wealth despite being in debts.

Only few percentages of rich people are debt free but almost all are debtor but it's a good debt, been a debtor is all about risk and not everyone have the mind of taken risk, even wealthy people because they have risk limits not all can take the same risk, and all this depends on their capacity of the wealth.

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Quote from: Smartvirus on July 28, 2024, 04:01:55 PM

Quote from: MissNonFall9 on July 27, 2024, 06:12:33 AM

The real thing is the economic expansion the more business ideas and avenues he has. And money makes people's ideas fruitful. So if there is a good means of using our money and if we have the resort to debt to make it a reality then it has to be done for the sake of big business ideas. And it must be remembered that all the skills of debt management will be successful only if they are applied properly.

Having to talk about debts, I’ve had to see a couple of real estate investors manage this successfully. Having to determine just that spot that is in line for development and they take debt to develop the place into an estate, through properly planning, ensuring that the site holds everything that will suits the needs of residents and you would find people buying properties and a gradual recovery and payment of debt in the process. The key aspect to this method to investing is the sitting and proper advertising.

The most important thing for success in any subject or field is proper planning and extensive publicity. And since the subject of loans is coming up it is definitely a very valuable thing to find the right area of loan investment to follow to turn the plan into reality. We must live a consistent life and use a consistent field to make our running life easy and successful in business.

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Quote from: MissNonFall9 on July 27, 2024, 06:12:33 AM

The real thing is the economic expansion the more business ideas and avenues he has. And money makes people's ideas fruitful. So if there is a good means of using our money and if we have the resort to debt to make it a reality then it has to be done for the sake of big business ideas. And it must be remembered that all the skills of debt management will be successful only if they are applied properly.

Having to talk about debts, I’ve had to see a couple of real estate investors manage this successfully. Having to determine just that spot that is in line for development and they take debt to develop the place into an estate, through properly planning, ensuring that the site holds everything that will suits the needs of residents and you would find people buying properties and a gradual recovery and payment of debt in the process. The key aspect to this method to investing is the sitting and proper advertising.

Topic: A lot wealthy people not smart they just use debt (Read 1271 times)