Topic: Building wealth it's not just one time Luck - page 3. (Read 1316 times)

There will always be distinction no matter what, and we can't do nothing to change that. Rich will always have more advantages and opportunities than poor ones. That's why building wealth for them is easier and more accessible. Unlike these poor people who have been struggling the whole time, no matter how lucky they are, it will be harder for them to achieve wealth even if they are also intelligent and well skilled.

That's the misconception of many investors. They're just doing whatever the heck is being told to them to do even if they don't know what it is.
The reason for one to invest is to understand what he is investing and what he's up to.
When he's too reliant to the opinion of other people and it is his money that's being spent on it, there's the problem already. It shouldn't be like that as it's your money that's being put at risk and it's like you're allowing people to gamble your money.

What matters is the timing, because your luck will not support you forever and when the time changes, your 100x can become less than 1x which will take away your wealth and throw it in the bag of some other big or small investors because you only win when they lose, but when they manipulate the market, they take away everything they gave you through the opportunity you grabbed but due to your greed, you give it back to them. So, when people get bored from crypto (if I speak about it only), that is the best time to accumulate it because it will, for sure, pump in the near future and will surprise all the investors who got bored and sold at loss.

Success never comes entirely from luck. Of course, luck is a factor in success but it isn't the sole power of success. Success is achieved with a little luck, hard work, discipline and proper management of the entire procedure. Inheritance isn't enough on its own to achieve complete success but it is a very big factor. Inheritance helps you to overcome many obstacles on your path to success more easily because a strong capital is one of the basic building blocks of your path to success.

In my opinion as I have stated, luck is a small factor that contributes to success and should definitely be present at least a little on the path to success. But in no way can complete success be achieved.

Yes that's right buddy, and indeed in reality even though they are very inspired by various successes but basically as we know that "talking is easier than doing", and that's what always happens and what they always do, even though yes there is a lot of information circulating today and it should be used as one of the foundations to start running whatever they think is best and of course that can make them more developed.

Talking about the review of "easy money" maybe it's just for an unhealthy mindset, honestly I remember some statements from gambling addicts who say money is easy, by just gambling they will be able to get the money without the sweat that comes out of hard work, and yes obviously it is very dangerous because if you think that money is very easy to find then maybe you will legalize all means to get it. And yes again that is exactly right, that investment really requires strong perseverance and the following sacrifices in it, you want big profits? then you also have to dare to sacrifice something like maybe time to learn things, because only that will make you continue to grow to get more consistent and large profits.
I think it's quite simple, I believe that if you are a diligent person and always willing to learn about new things and as I said above it will be your knowledge base to continue to grow, and also indirectly you will also have the knowledge to survive in various conditions.

Of course, I want to be a rich person, who is able to manage my finances and business so that I can maintain that wealth. Of course, in this mortal world, nothing is eternal, but we as humans who think that nothing is impossible can maintain what we have.

And I have a few more stories about people who were lucky enough to become billionaires, but they were unable to maintain their wealth because they were unable to manage the wealth they had, until in the end they fell back into poverty. And this incident did not just happen to one person but to one village, where the residents in that village received compensation money from the government because in that village a national strategic project would be built in the form of building an oil refinery. So that overall the residents there received compensation of up to billions of rupiah.

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Precisely! Today's world is overflowing with information. Folks take a piece of information, magnify it, and pretend to be experts. The contemporary economy is unforgiving; it separates the pretenders from the contenders. Walking the walk is more important for success than talking the talk. When you said that conversation is pointless without underlying information, you are right

Moreover, the idea of "easy money" is a dangerous illusion. Like any serious business, investing requires perseverance and dedication. Experienced investors read new books, research papers, and analysis all the time for a reason: they are aware of the complexities and volatility of financial markets

Essentially, the economic world will overshadow you if you're not prepared to take on issues head-on and to continuously upgrade your knowledge and skills. Keep in mind that investing is only appropriate for the tenacious and unwavering

People who suddenly became rich through luck, how many people have you met and what is the ratio? Will there be one lucky person in 1 million people or only one lucky person in 10 million people? It's not just a small number, it's extremely rare so I don't want to mention it and as you also said. They suddenly become rich and don't know how to manage their finances and that wealth disappears quickly, so I don't consider them truly rich. Do you want to be someone who has always been rich or just someone who used to be rich?

Yes, that lies in how we think of ourselves in the future and what are the things we have to achieve. But of course, it was not just a plan, it needed to work it hard as well. Many people fail in making their business because of the lack of courage and motivating ideas. If we want to grow and improve our living, we must also show the courage we have and will take every opportunity that we see. We can't put our future in luck, this is a big mistake that most people think about gambling and instead of leading in the right direction, we are going the wrong way.

Ordinary people only see how those who are successful make money, not what they did and learned to get that wealth.

$50 may be quite a small amount of money to use as a starting capital for trading.
But with $50 can grow if you trade correctly and know how to predict the market.

Getting 10% profit alone is already quite large and will get more and more if done consistently.
Especially if you use thousands of dollars of capital.

It is certainly not about how much capital is used, but about how to trade correctly with qualified trading knowledge.
No matter how much the capital is if you don't have trading knowledge, it will only give you a loss in the end.

Op is talking about building wealth is not like investing like playing a gamble, we need to understand in what we are investing we need to learn in the process of building wealth.
Op taken a example of trading with $50, means if you are unable to make a profit from $50 then how would you make a profit with $10000, so don't give excuse of not having enough money.
Learn, know in what thing you are investing in, it is also similar to gambling if some guru told you real estate is safe and profitable investment and you invested blindly just hearing the guru, that is a gamble not investing.

Set goals and having targets would really be something that needs to push because these things would really be inspiring you to work even more harder on which you do have some inspiration on achieving success.

Although it wont really be a guarantee that you would be able to achieve it but at least you are really doing those necessary steps on attaining it but dont make yourself that being that too optimistic about assurances that it would happen. There are factors which would really be affecting someones success and of course it wont really be an easy road for someone who do really tending to achieve those goals.
Building wealth does takes time and lots of effort and it isnt really just that something that could really be happening in 1 day or a month but rather it would really be in years.

Some people are really just that too impatient and thirsty for success and this is why they do really ends up on committing lots of mistakes and errors due into that kind of behavior which its never been that recommendable in the first place. This is why it would really be that important on having that realistic goals and realistic approach on things because if you are really drawing out some
line which is already that too high then it would really be that so hard for you to achieve. Take it slowly!

So true. And in essence we have to enjoy the process and continue to work hard consistently. Collect capital then build a business or invest smartly. And in the process we are going through, we must always maintain our motivation so that it does not weaken and we remain consistent in continuing to work and produce tirelessly. Because sometimes people give up in the process. Because actually, on the journey to success, nothing can be achieved instantly. Everything always takes time and is quite a long process. And sometimes luck is also needed in the process of achieving success. Patience also plays an important role in going through this process.

Certainly, the only way to become rich in a single day is gambling but this possibility is very low due to the risk and if it continues with greed it can cause addiction. In order to become rich with a business, determination, effort and hard work are the most important factors. It is possible to achieve great success with a good road map and disciplined management of a business and this takes time.

On the other hand, always being hungry for success and working determinedly is a very important combination for a business to succeed. As you achieve success, aiming for better and more, progressing step by step in this direction will undoubtedly lead to success after a while.

Because in investment it is impossible to increase many times the capital we have (even if it is still possible but difficult) on the other hand, the fact is that in this case we must realize that investment is not just to make investments and abandon them so that they can get a large profit. There are some strategies such as DCA that do make periodic purchases because in the end, investment must also see that the amount of capital we put in as a form of investment, it must be possible to get more profit because the benchmark is that in investing the profit we get depends on how much capital we prepare.
When the capital is small, don't expect profits to exceed the capital because even though something like that can happen, it is unlikely to happen.

You wont progress if you wont really take such step and this is why it is really that needed that you would really be taking up the risks for you to progress because if you dont then you wont really be moving forward. Success isnt something that you could attain or achieved on doing nothing on which you would really be needing to work hard and smart on whatever things that you are dealing with.
Its not ideal on making yourself deal up or waiting for that one time luck like hitting some lotteries or simply relying with gambling because its not something that sensible on doing so.
Building wealth does takes time and lots of effort on which it would really be just that normal because success isnt something that could be achieved so easily unless if you do have that a rich
family and having that richness which would be passed up into your as their son/daughter which it is really that an exemption when it comes to inheritance.

It's not just hard work that we need to do to achieve success in order to have financial freedom. However, we also have to be able to work smart. And I don't agree with you that success is a combination of luck and hard work. Because I saw several people who had good luck in gambling or anything that could make someone suddenly rich. However, because a person is not smart enough in managing his finances, in the end it doesn't take long for him to fall into poverty again. This proves that he is not a successful person even though he was once a very rich person, because if someone has achieved success, not only is he financially strong, but he is also able to maintain and increase his wealth.

They have also taken the risk no matter how lucky or hardworking you are. If you don't grab the opportunity you won't be going anywhere. There are really a lot of factors in getting rich as they are connected in all aspects and if one doesn't work then you won't be successful. Those people who got rich just found out the golden formula and at the same time luck struck them.

Ive seen a lot of start-up businesses right now getting failed but because they are perseverant and still hardworking they still continue building businesses which is now getting better and they say that they are attracting more customers as they got lucky to have partners to boost their market.

That's right, everything we want to do requires perseverance and don't give up, this is the same as a rich person from his own efforts, even if he falls to 0 again, he can definitely run and get up. It's different from someone who gets 1 million in the lottery and is confused about what to do with the money. The end result was a spree, in the end we cried hysterically because the money had run out because it couldn't be managed properly.

It all depends on your mindset, you have to learn to be disciplined, persistent and work hard. These three words we must embed in our minds. And it is very true that all successful people are like that, whether in business or investment or trading, the most important thing in my opinion is the "why" factor. Why we have to be successful, the stronger the reason, the more we are willing to be disciplined, persistent and work hard.

I have seen a lot of people become homeless when they thought that gambling can make them rich but I have not seen anyone who can become rich through gambling.

To be successful and become rich, honestly, other than working hard, I don't see any second path that can lead us to wealth. About lucky, I don't deny that any rich person will have more luck than the poor but their wealth not only comes from luck but they also try their best, and work tirelessly to become rich. Success is a combination of luck and hard work, so we can't just rely on luck and do nothing and expect to be successful like others. There is no success without trade-offs.