Topic: Building wealth it's not just one time Luck - page 7. (Read 1316 times)

Each case is unique. Some people do get wealthy at once through a very lucky single action, like early investors who bought BTC for few hundreds of dollar or even less, growing it to 69,000$ on the last ATH. I hearded stories about these people and they were just lucky to be on the right place at the right moment, being rewarded with abundant money for the rest of their lives, without worrying about financial difficults anymore.

Meanwhile, there are those who have to build theit wealth step by step, although there is no assurance they are going to be able to achieve it successfuly someday. It's hope which moves the effort and constance of these dreamers in a daily basis and never let them stop trying.

Picasso said something about inspiration, which we can apply to luck here:

Inspiration exists, but it has to find you working.

In terms of building wealth, we could say that luck exists, but it has to find you working.

If you do things right, if you work hard to make progress, if you don't give up at the drop of a hat, if you set a long-term plan and stick to it, if you don't expect impossible returns and so on, you will be much less dependent on luck than if you expect to win the lottery.

So, I prefer to follow Picasso's advice.

Maybe there are also real estate investment that works like a pool same to others? If they can gather a lot of $50 from different investor, that would still be a lot of money which will be enough to buy a real estate. Once sold, the profits will then be divided to all investors. If he wants to, there are also cryptocurrencies.

What is better about them is that they can be cheaper and he can own these cryptos in his own, so he can enjoy all the profits that he can get. It is possible to get wealthy by investing just a very small amount in crypto. This is why many people are attracted about them. It is also possible to build more money from a small capital outside cryptos but they may only take more time.

I think the majority of people know that building wealth is not an easy process. Work hard, think hard, strengthen your mentality, build motivation, continue to innovate, don't give up, be disciplined in finances after mastering financial management. Increase your insight and always be at the forefront of getting important information. All of these are things that are needed in the process of success in building our finances in a better direction. But remember, sometimes luck is needed in any process. Well, there is indeed a separate ratio regarding various efforts to improve your approach to luck. But still luck is luck. Sometimes it happens when we least expect it. And yes, in the process of building wealth, more than one stroke of luck is needed. But it does take a lot of luck. But the most important thing in this case is to keep working hard. Thinking creatively, innovating and maintaining motivation are things that must be maintained in this process.

Avoiding inflation is indeed important, but there's a point I find even more critical than solely focusing on safeguarding existing wealth.

A successful entrepreneur appears more prosperous when they can generate income consistently, whether it's every week or every day. They continue to use banking services for transactional needs. The added benefit is that they can grow their wealth more effectively to gain greater profits. The erosion caused by inflation on their assets can be offset by the easily attainable profits.

So, our primary focus should really be on growing our wealth, rather than simply avoiding inflation.

You are right. You have to learn to accept and make changes if you want to grow. No one is able to move forward without actually making the move, meaning no one is able to level up if they only do the same things as we face different things in different stages of life and other factors within like finance. You can't expect the always be on top when the world around you is changing and evolving, if you do that then you better know that soon enough people will see you as a thing of the past, and no opportunities will find value to you. Moreover, if you make mistakes but refuse to acknowledge and change the factors that push you to make these mistakes then there will be no growth, you will be putting yourself in an endless cycle of failure.

I was told at a very early stage, that it is one thing to get a lot of money.. but a whole other thing to keep it. Just look at the 1000s of rags to riches stories, where you find someone that won a lot of money and before you know it... that person is living on the street again.

It takes a lot of self discipline not to over spend and to grow that money to beat inflation. You cannot simply leave your money in a Bank, because the inflation will gradually eat into your investment.

Building wealth is a continuous process of change and adaptation to the market conditions. 

Others decide to quit their job even if they don't know if they can make a living on it on a monthly basis. Most people when it comes to money they want to hastily earn it. Like you've said they just learn it overnight and then think they can now earn tons of profit on it even though there are still a lot of things to learn. Also, because of the haste with which they want to earn that money immediately they fall into a scammer's hands because they thought it was real and they were blinded by the profit they would be getting.

There is no easy money when it comes to investing you'll need to go through ups and downs and it takes a lot of hardship and patience to accomplish it. If you still continue despite that then for sure you'll get what you want in the end.

You act like a skilled investment advisor who is trying to educate forum members to build a profitable business. The concept is not completely as you wrote, to become big you have to go through several processes first. People who have been successful in business certainly started their careers from the bottom. They are very mature in the field of business, of course they will consider all possibilities that can bring quick profits and be free from rice risks to make a profit.

Investing in real estate is still something that most business people are interested in, apart from the price being able to increase in the future, they can get rent money every year. Comparing Real estate to gambling is the biggest nonsense I have ever heard, you can't compare the two because the paths are very different.

never let our money just stay in our hand without any grow because after 1 or 2 years we will feel the inflation effect on us. but unfortunately building our wealth is not an easy thing, I think the safest way for now is by buying btc at lowest price as we can and wait. trading with small capital and big capital are technically different, I think if we can make profit with $50 it doesn't means that we can do the same thing with $5000 in the same coin because of technical thing such us the number of market cap, trading volume, price, trend and etc. I think the best way to use $5000 in trading is by doing scalping to many good coins.

People think once they join into the trading or investment they can have a good immediate return it takes time to deal with it you must need to give most of.your efforts and time just to reach the goal you want to. This is one of the common mistakes of the beginners too they easily baited with too good to be true investments reason to lose their money and asset because if urging too much to earn. Consistency is the best even though its just a small amount. There's no instant millionaire without risk.

There are no shortcuts that can really change your entire life overnight if you only have $50 in your budget. It was impossible even if one was very lucky with one's life. Trading isn't like that even though it has happened before - but it still takes time to earn that kind of return.

People gamble with their greed and think trading is a quick way to get rich. This is the wrong mindset about trading even though they can still get 2-3 times profits somewhere.

That's a way too long for becoming rich if you'd just stick at $50 in many years right. Maybe you'll achieve $1000 if you regularly invest $50 not only as your starting capital. Cause that would take long and you'll get tired and bored as well losing your passion to invest. If you can't afford to invest regularly try to find a extra legal money sources that could help you invest.


Well we can say that rich people have it easy, cause the connections and the capital to make yourself richer is always been there. But comparing yourself isn't necessary since we all have different pace on attaining our goal and it might take long but we'll get there soon.

I already know that using a $50 trading capital was impossible to make it $1,000 in just a few days but can possibly be made for years. And with that long, I'm not sure I still have the courage to trade with that amount, that seems too boring for sure. In this case, I wasn't thinking of becoming rich either.
Building wealth never happens too easily unless you are a rich person already but like me who doesn't have that much money to start, that might be just a dream as it only has less possibility to happen in real life.

Are you a billionaire yet? If not then you probably don't know what you talking about, although I must agree with your title the only time wealth is luck is when you were born into it, regardless you can lose such wealth if not well managed.

Although making wealth requires knowledge, and learning but there are smart people who knows the drill but aren't that wealthy. So I would say that there is a little bit of luck involved.

Its the basic principle on how things should be done and building wealth could really be on different various ways or types which had been stated above specially in between markets and other traditional business

which it would really be requiring capital for you to start on but somewhat on the projected income or profit that you could take should really be in realistic approach so that you wont really be finding yourself to be that impulsive on the time that you wouldnt be able to see those results or on the time that you are anticipating which its really that not ideal on setting out those goals strictly but im not saying that we should not put up some target or goals but somewhat you should really be on realistic side because if you do go into those levels which arent that good or realistic anymore then i could say that it is really that making you do being pushed on doing things excessively which might cause for you to loss or making out some bad decisions or errors along the way.

It is really that a trial in between those plans you had set and find if its effective and something that gives more positive than negative, then you would sensibly be able to say and speak
that it  should really be that taken and should really be followed which is totally opposite on other things as well.

I would say it is even bigger picture. Many times people end up earning nothing by the end of their lives while some of them would earn so much that their children and grand children already know they can sit and party their ass out for the rest of their lives!! I think these differences are all there because of the paths an individual follows. Some of them are hard working and some of them are kinda smart working or lazy asses. You bet both of them can be found in single person too.

On bigger scale, if we want to have loads of bucks then we need systematic investment plans. One cant just use their money to throw parties every weekend and spend on unwanted stuff.

Having extensive knowledge about the accounting and how to manage them can help a lot. Many individual's do not plan their activities in advance. There are too many blind investments that has no future or they were just done because someone taught them. Having professional advices can do no harm when building a proper wealth plan.

It's just that there is everything but individuals fail to do it. 

Through regular selling and buying one can get the actual process but if one just buy at once and then leave it without knowing about the exact keys of success then they will be unable to learn. I think one should do a step of investment and then during Bull season they should sell that asset to get the advantage after which the advantage should used to reinvest while invested amount should be saved with himself.

They are depending on investment but once they use their money they never touch that amount but the actual thing is to be active to at least know about the exit and entrance point as it has lots of effects on your achievement.

There is absolutely no one-time luck in financial markets. It is possible to become rich with a single transaction but it is impossible for this transaction to be realized in the first transaction that a person makes. Finding a transaction that can make the money worth several times is possible by having a variety of infrastructure such as experience, market analysis, foresight and risk taking. Also, the management of such a lucrative position is certainly not possible without experience.

In other words, a person who makes a very high profit with a single transaction has actually made hundreds of unsuccessful transactions before this transaction and has gained experience by being disappointed many times. In other words, although it seems that he/she is someone who has become rich with a single transaction he/she is actually someone who has gained painful experience with many transactions and has earned a good amount of money with a nice transaction while chasing opportunities.

It's not just about making money.  How to increase money from that money should know the strategy.  If someone earns 1 million dollar by luck, if he does not know how to increase the money from that money, then the money earned by his luck will not last long.  I agree with your statement that if someone can't earn from fifty dollars, he can't earn from 100,200,300 dollars.  Before investing in any sector, it is impossible to achieve success without having a clear understanding of that sector and knowing the strategy.