Topic: Building wealth it's not just one time Luck - page 10. (Read 1316 times)

$50 capital will go no where with real estate investment same with a $1000-$5000 no matter what a guru you're into real estate development. There as specific amounts of money that are professionally recommended to start with as investment in the different sectors. You can't use an amount meant for a mini  roadside grocery shop to invest in real estate and expect to make progress, not amount of hardwork put in can excel you. If wanna be fairly mean to such a person I'll say that investment is a dead one before it was started.

As the title stated, Building.  Building is a process and not just a one-time work so it does represent that wealth isn't just one time luck but rather a process or series of efforts that goes on the process of financial inflow and outflow where the inflow of funds is always greater than the outflow thus wealth is building every time the financial inflow and outflow offsets occurs.

In case the financial outflow is greater it can be fixed by finding another source of income to reinforce the financial inflow and eventually outweigh the financial outflow.  A long-term process of this kind is wealth building where excess of cash inflow is accumulated..

I agree that your uncle worked incredibly hard on his dreams amd those efforts compounded to something big after a while but I'd say he had some luck along the way - for instance, his shipments getting to destination on time without hinges etc. I'm sure you'll agree with me that someone else might put in the same amount of effort but yield a different result. The outcome can be lower or higher, depending.

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Anyone that manages to build a substantial amount of his/her portfolio from only an initial deposit of $50 has some real good luck on their side. Anybody that says it's just hard work is simply lieing.

Luck will not always be our foundation. We could be lucky but if we don't manage our finances wisely, our earnings will lead to bankruptcy. It requires sacrifices, knowledge, passion, and hard work for us to build the wealth of life that we want. We can't always rely on luck if we aren't grinding hard to earn better.
If our target goal is too high then our efforts should be doubled or tripled. Life is always what we make it and the result will rely on how we deal with life's challenges. Earning is hard nowadays especially that the economic crisis is getting worse but if we will have perseverance then we will obtain the financial freedom that we want in the future.

A great success comes to a big price, and its about the sacrifices and your decisions to make.
Lucky people usually don’t last being rich because they don’t have the foundation for that though some are becomes more wise when they already have the money. Being more successful requires a lot of time and big effort, but of course the right mindset and the right investment decisions will still matter here because even if you work hard and don’t know how to work smart, it will be hard for you to succeed.

If we look at people who are very rich today, especially those around us, they are not playing with 100% luck, there is a big and tough struggle that they are doing behind it all, my uncle is a logistics entrepreneur, he once told me that when he first started his business he had to work every day for 7 days without stopping and monitoring so that the shipment could reach its destination without any problems, now his business is running systematically and he is just at home enjoying his relaxing time, he continues to motivate me that effort will not betray the results.

When you say luck, I think of inheritance from a wealthy father or a family that has been wealthy for decades. With the state of the economy we are all in, it is very difficult to get lucky with wealth, but you can win the lottery or a gift, and these days no one is gifting anyone with money. If you are in this situation, the best thing to do is to get a job and gradually build your wealth.  And since the world is changing now its better to even work smart than work hard in some circumstances, our attention to be channeled to what aspect have  high demand. Small beginning are appropriated. But I feel 50 dollar is small to start up a good business currently. Either small or big management matters too.

Building up your wealth is a process which takes a lot of time as money itself is a big factor which can determine your success of your failure, so you need get some capital first and then use that capital to try to increase it, and most people fail on the very first step, they spend all the money they earn and they do not save any of it, meaning they live their lives paycheck to paycheck without any possibility of ever leaving the rat race, as the pension they are to receive once they stop working is too small and this forces them to keep working.

Yeah, this is just some sort of common sense things which you could eventually be able to say even if you a blindfolded. Yes, building wealth does take time and tons of efforts on which you would really be needing to experience and a little bit mix of luck since we know that investments do involves risks on which it would really be just that so normal that you would really be needing to take up risks to get that kind of possible chance or benefit on making profits on which it would be helping on build your empire but of course it would really be depending if you do set those kind of targets or really just that set lower. Each person does have their own different level of targets or goals in life when it comes to money but since we are just humans then greed would be always good and there's no such thing about contentment.

This is why its always that recommendable that if you do have the chance on making some diversification when it comes to investment then better do it while you can because not all would really be
capable on doing so plus real estate businesses or with those typical or traditional business doesnt really come cheap and this is why not all would really be able to touch up this space
and this is why they would really be focusing on something cheaper or could start with lesser amount.

Investment of 1 year to 6 years could take more years to effectuallized just as you had said that investment doesn't ends at investing once that is to say, whatever profits we ends up achieving at the first Q1 to Q4 we should always take profits and reinvest the profits to gain more profits yes this is true but. You can't expect everyone to behave like you and some of them do have their plans and strategies of investment and however you can't expect everyone to adopt to that principle of your investments style.

Also know that there are some investment including shitcoin someone could invest and made fortune out of it and their life's changes for good, sometimes being too desperate and eager for something makes us not being able to achieve the required height which we may need from it ( this includes not being developed in the state of heart and mind) then we could quickly jump into conclusion that you may not possibly makes profits from it.

But those who are determinants about some specific investment like taking advantage of this current situation of this market and reinvest after taking profit at the previous ATH could gives you the little changes that start accumulating wealth, sometimes most people calls it diversification of investments that leads us to building of wealth. This made me to say that sometimes all we need is information and a simple information can easily transform you from nobody to somebody which you doesn't need to pass through all manner of investment to be able to start building as you said.

Says who? Which yardstick was used for the measuring the $50 wealth building capacity you mentioned?

Some people started building wealth from $5000 and they were very successful at it. They had no prior experience in building wealth with $50. What they did was that they apprenticed under someone and earned about the business thoroughly before venturing out on their own.

Yes, it can be done. But the plan I am talking about is to accumulate a net worth of between $1M and $5M starting from 0 or very little. This would be for the USA but if you live in a not so rich country, maybe with a net worth of $0.5M or less you have already reached a considerable level of financial peace of mind.

For higher net worths, there is usually a need to create companies, leverage, influence management, things like that, which are not within everyone's reach. But getting rich, with time, working, saving and investing is within the reach of many people today.


Thank you for confirming with your experience what many of us know:

Investing and reinvesting profits is a good way of building a business. Instead of spending the profit, putting it back into the business will expand and grow it faster.

If you increase your income and don't apply what @Poker Player advised, you might end up not saving enough to invest. Many people keep spending more as their income increases which will limit their ability to save. It is not about living frugally but applying discipline in spending. Based on the current economic problems, if you don't make sacrifices, you might not have enough to save. The rate of inflation in most countries is forcing many to cut expenses.

More as well as a not a single night journey. It'll be a long way establishing wealth. Indeed you could be lucky as proven by people who won lotteries but if we think of it, not all people who have huge amount of wealth also won from lotteries. Given that not all of us would be lucky enough then what's our choice? It would be better to start walking until you meet that luvk and opportunity than to wait for things to happen on its own. It would be a win-win situation: starting on your own would put you to a place farther than where you came from and if luck would take place then it would be a better outcome and if luck won't happen atleast you already have your own progress.

Problem is people who solely depend on luck in order to achieve better things in life. They often disregard the amount of time they are wasting until something which has no assurance on its occurence, happen.

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Luck is the result of a meeting between abilities and opportunities in any field, it is a definite sentence and this can be gained by everyone, so multiply knowledge, experience and ability This will be sustainable with something that is your goal to get as a success in life including wealth, we agree that this is not easy to achieve, because if it's easy everyone can get their goals, both in business investment and other seconds that can provide wealth to people who want it, are Making an expert in the field you want, it will lead to better and easier to get profits/income.

The simple logic that you convey is wealth can be easily obtained because of luck, whether getting a lottery, investing in the meme token and whatever the type is to increase our money, and yes I agree if luck on his side he could, and yes it is true that Not necessarily he maintains his wealth easily, because usually it will cause hedon when we have not been able to manage the wealth that is obtained through that luck.

Learn how and try little by little, and if successful, repeat the process until you can get the second success, and so on. But if you fail, it doesn't mean you have really failed because it could be because you were too hasty to get the results.

Building wealth is very difficult. It requires high discipline to save on anything that can make you spend money you could have saved. You also need other things, such as focus on learning something that can give better results.

You have to pay attention to the time and process of the journey because most people cannot bear to go through the process and wait a long time. They just want to get instant results, which will not always happen.

Depending on how you start and the extent of capital efficiency you apply, the strategy will apply when you start investing and will never happen if someone hasn't done it. Our question is what strategy would you have if someone had the capital to get involved in investing now?

You will never reach the stage of significant wealth in the near future if you only rely on $50 because trading will generate profits that are proportional to the capital we spend. It doesn't talk about the risks of trading itself because it is only at the stage of narrating the meaning of trading.

Let's start one-on-one first and mention just one thing that is most urgent for us to discuss. Real estate is not a common business that can be implemented by most people, so there is no point in discussing it further and even if some people don't dare to take the risk of investing. There is no victory if someone does not dare to bet, but do not always see betting as a gambling concept. I mean, if you are going to try to invest anywhere, the step you choose will definitely want to risk money on that investment more rationally.

We will be much more rational when betting on bitcoin, gold or real estate investments and the concept is not betting like gambling. So the conclusion is where the first step you will start will be determined by how ready the capital support you have is. The comfort zone will not bring someone to the stage of big wins they want and they need to sacrifice something to achieve all that.

As a crypto trader I have started with 50$ and more then I have lost count on how many times I end up blowing my account myself, if it's that easy to turn 50$ into millions many people would have done it over and over.

There is also a difference between getting the wealth and be able to maintain the wealth, if someone luckily become wealthy they can still end up going broke because they lack the knowledge to manage the wealth.

You can actually turn 50$ into a big amount if luck is on your side, because I could remember how people make lots of money investing little dollars into Shiba inu and recently pepe meme token, it could happen, but if it does it's not over, you need the skill to manage such wealth.

Wealth is could be earned by luck but it's not applicable to all people, so you would really need to earn it by working hard, being consistent, being knowledgeable and disciplined. So let's say that $50 dollar won't be enough for you to become wealthy to invest are you just gonna wait for your luck to achieve? People would literally take extra jobs or part time if you're a student just to have enough funds to invest. Well those examples you've mentioned might be needing a huge amount but little business would acttually a good start cause most successful person achieve it with experience. Luck and opportunity won't be siding on you if you can't even make an action to attain financial freedom.

Reinvesting of your profit without good plan after gaining a lot of profit from the first investment can lead to total loss of money. Reinvesting with your capital, inclusive with the profit makes it more riskier without a proper investment strategy to achieve what was achieved the first time. You can’t always be lucky, but the smartest and most knowledgeable investors continue to win is such market.


$50 can also be your starting point in trading. You can continue adding more as you become more perfect in trading. Adding more money as startup capital does not guarantee you success in trading, but you are able to manage and place trade through knowledge you have achieved will help you do that. Perfection matters here more than the startup capital.