Topic: Building wealth it's not just one time Luck (Read 1313 times)

You are absolutely right. Starting a business without having prior knowledge of the basics will surely result to negative effects, not only to the business itself but to the one starting the business as well. Having prior knowledge allows us to confidently make plans for our business while thinking of all the possible outcomes of every actions and decisions we will make, it also gives us knowledge that can prevent us from beings scammed or making bad decisions that will put the business down.

This is where many investors turn into businessmen who do it wrongly. They've been doing some wrong practice that makes them think that they know everything about making money just as building wealth and starting their own businesses. It is not easy, they seem to be strong-willed but being like that isn't enough when you're doing business and creating your own asset empire. A businessman who doesn't have an idea of what he's doing is doing the wrong thing, first, when you do business you need to at least have some basic idea about it. Although some advises will tell you that everything is going to be learned in the process upon doing business. Don't believe them.

Is investing the only thing on your mind when it comes to making money? There are still countless opportunities to earn from things you haven't even considered.

Investing isn't just about cryptocurrencies or stocks; there are numerous other types of investments that can make better use of your $50. Buying BTC with $50 essentially means waiting for its price to rise, but that's not the main point the OP wants to convey.

Utilize that $50 to potentially generate significant income, such as selling beverages in bustling places or offering door-to-door food sales. Or anything else that can yield substantial earnings through methods other than instant gains.

If you do like for your life to have some progress or really have those kind of targets or goals then it would really be just that normal that you should need to work hard for it and make out some sacrifices or simply taking up
some risks because you cant really be that able to progress or changed up your life if you wont really be taking up such path. Dont believe or put up into your mind into those successful people or rich ones hadnt been able to pass up these kind of challenges in life. There's no easy way on acquiring richness without passing all those challenges on which you would commonly be able to experience.Building wealth though does really have some sort of mix of luck on the time that you are dealing something because despite on putting  those hard work and whatever sacrifices you had made but if there's no luck mixed with it then you would really be still able to fail.

Note on here is that  you should not make yourself in a rush because this is where mistakes do happen.Set your priorities and set your plans and work hard for it.
Dont rely on luck because without hard work and some wise approach on decision making then it would really be that useless.

Your opinion is quite reasonable too, because good investments are usually able to provide maximum results in the long term with a very strong level of foundation strength. So if we see an investment that can provide quick profits in a short time, it might just be a trap to give attention to many people so that people can be very interested and tempted by it because it is able to provide quick profits without considering such a strong foundation. But I personally usually consider it as normal trading, not as an investment because quick profits will not always occur on certain assets.

Investing basically is easy and doing a personal research might give you a head visibility but when you go deeper, there is more mytical wonders beneath it. You can do everything needed as an investor and you can still fail you know right; Lets look back into some incidence of failed investment that has happen in crypto like when the team abandoned a good project and run away after starting well is one good example that you might do a good research about your investment but sometimes, they are not enough to stop the mysery of investments, just hope you don't fall into the wrong one.

I will not advice any person to take loan to invest without any other back up plan to payback. Like what are you going to do if the investment didn't go as plan, don't even dare try that in crypto because I can tell for free that there is no any coin in the market right now that is not at lost from their all time high, they are all down and assuming money were borrowed and invested during those crash time, how will the investors pay back money that was lend to them, no way that is going to end well.


There is no better strategy of investing like risking of self money that you can afford to lose into any investment because by the time the investment goes zigzag instead of linear, you might no worry and even if you should worry, you will not have a fear in mind of how to pay back the loan you took, you will also not worry about what comes after if you fail to pay earlier as agreed; My advice is stay away from loan if you must invest.

Of course money is needed to build wealth, it is never possible to make extra money with less. As you said, investing $50 is possible to get good profit, but basically never expect much profit with so little money. If you invest $50, you will never get more profit, you must increase the amount of money to get profit. You need to add more money to your capital and invest it so that an amount comes in, but you can make a good profit out of it. And if you don't have much money to invest, you can trade with this small amount of money knowing that you can profit from it. and if you want to earn monthly by investing, then of course you have to increase the amount of money otherwise it will not be possible. When you invest extra money, you will succeed in building a wealth in the future.

Invest what we can; risk what we can afford to lose. We tend to forget that not every investment can promise profit, there are time that we will experience losses like any other transactions that involves money. Hence, by forgetting that we go way out of line by putting everything we have to investing, getting to carried out that we forget how vital it is to ensure that we still keep something for ourselves in case of unforseen circumstances. We need to learn how to divide our income for our daily spendings, investments, and savings. As much as investing have a great number of benefits for us, we still need to set a limit.

Indeed, it would be better if we could manage our spending on investing. If we cannot control our spending on investing, it will be very detrimental if we experience losses and don't have any money left so we can't meet our needs. If they spend money without thinking, of course they have never experienced the difficulty of earning money, so when they use their money they don't think about anything.

I really agree with you that in investing we really need to understand it well, not just have money and then invest, we need to understand it well so that we can overcome obstacles if there are obstacles in investing. For those who can manage their finances well, of course they will become rich with their money and for those who can't, of course they will never be able to because they keep spending their money and only realize it when there is no more left.

When something is built slowly and over time, its reliability will increase. If sudden investment makes large amount of money then it may not be a good investment. Investing and gambling are not the same. Even if the investment is small, it can be profitable if it is reliable. That is, if the foundation is solid, then the money will keep coming no matter what your investment amount. An investor in any type of business must first have a proper idea about his business otherwise he cannot succeed in it.

And one example of this is into those people who do able to win up some amounts in lottery on which they did really have changed their lives but since they do lack that kind of money management then they did make themselves on being poor again after a few years or even months time at worst and this is something that could really be happening or something did happen on some winners or does have that huge money before.
This is only the time that they would really be considering on making up some studies and realizations that they must be having those kind of financial management but well its already too late.
Everything should really be taken seriously specially if we do speak about investment and other further steps just to make that kind of progress towards our lives.
Mistakes do usually happen on the time that people would really be tending to rush things up without even making some proper planning.

But hope it is not in this current economy because have been thinking, and trying to do the whole calculation of starting a business with just 1 dollar and what kind of business. I don't know about your region but as in mine it will be impossible to start with that price and considering the risk behind every business if you invest 1 dollar and anything happens what do you think will remain? discipline is good when it comes to money but people have needs and with what the world is facing now it is difficult to even be disciplined about money. business does not give full assurance of making it but it is better than not doing anything.

Yes, it's important to emphasise wise spending and investment. I've heard several stories of sudden wealth that vanishes rapidly. One of the biggest issues is ignorance about finances. When people get their hands on a significant money, they often assume it will last them a lifetime. They spend mindlessly. And where does it leave them? Broke, stressed, and in debt

I believe wise, intentional investing is necessary to maintain and grow wealth. Investing in equities or Bitcoin has power. I see it as a way to diversify and possibly create wealth, despite the risks and volatility debate. Again, a plan and knowledge are crucial. Wealth is money management, not just money

I like your point regarding how greed can have both good and bad effects, depending on how an individual handles it. This is why I firmly believe in having plans that can form limitations for us. Although it is true that human beings are always drive by our greed, that doesn't necessarily mean that we cannot do anything to actually control it. We can get the good effects of greed by ensuring that it drives us to be better and reach for opportunities but have limits to ensure we only risk what we can afford to lose. Knowing where to pause and stop allows growth and a steady foundation for as we reach for our goals.

Indeed building wealth is not entirely saddled on luck, proper investigation on any investment will save you from investing in a loophole, I'm a firm believer of growth that is growing my income bit by bit. But most people are fueled by greed, in as much greed when used right can give you unimaginable profit but it can damage everything in a twinkle of an eye. Having and building wealth indeed needs a good plan, consistency, resilience and perseverance because most times it may look like you're not making progress, but keep going the end justifies the means and labour.

Nothing is wrong. but with large capital it is quite helpful in terms of returns and take profit, but that's okay because gradually the process will complete itself. What is needed is enthusiasm even though the capital is still minimal with an initial capital of $50. The important thing is not to give up quickly in trading and not be greedy and leave the market because you can't take it anymore.

Unfortunately, nearly all the investments are gambling, and investments that are not risky are usually not so profitable... In general, no one can control the market with the starting capital of $50... Everyone, who has so little money at the beginning of his/her business path, needs to be lucky enough to get some extra money... Market control is a hard thing. People possessing billions often can't control even their market field...

This is a good discipline for low income earners, but can't sustain you for long cos the bills keep increasing everyday.

Before thinking of different sources of income, you should have built one particular source of income very well to serve as your pivot in case of uncertainties. Diving to increase source of income on low financial backing often meets with frustration and discouragements cos the money that is needed to make more money its not a small money.


The importance of this can never be undermined, you've to understand the business you're going into properly and note: DON'T BORROW TO INVEST IN A BUSINESS FOR THE FIRST TIME .

knowing the process is definitely needed for ensuring that the wealth won't go anywhere which also means that we could build business and keep it alive even profitable for many years to come.
thats the important thing with knowing the process, so the money won't just vanish into thin air but having luck is also essential in this regard like many have stated.
but of course someone can't be lucky for their whole life right, therefore those that got lucky and know how to build their business up are the one comes out victorious building their business and paving its way
to the very top, those are very rare people thats why its difficult to be success but definitely possible.

You both make good and valid points. Just because an individual was able to get a good sum of money, may it be from luck (like winning the lottery) or through hard work (like business or work), it will take more than just that event to earn actual wealth. Let's make it simple. If an individual was able to their hands on half a million dollars then immediately spent it by buying a house and lot, cars, luxury things, and then gave some away to their family and friends, add in the taxes and what will be left? Soon enough that individual will then only have a good sum to pay for their needs and utility, and will soon face problems regarding payments for the house and cars' maintenance. Instead, if that individual made a plan and spent only what was needed, used a good percentage of that money to start a business or investment, then at least the money will make profit and will continuously give them income, possibly gaining wealth in a few years.