Financial education or 1million dollars - page 8.

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Quote from: mm2543363580 on May 18, 2023, 08:30:56 AM

Seriously it takes a lifetime to earn 1 million dollars so if I get an opportunity I will take that and than can go for all types of financial education to make use of that money to grow and invest.
Financial education is very important but still you can't earn this big amount with that too.

Education that can be useful in everyone's life is clearly very important for everyone. But if faced with a choice of such a large amount of money, of course everyone will give birth to different thoughts in this regard because some people still think of choosing money as their capital to achieve more education. And I think it's also not a wrong choice because everyone who wants to have more and higher education, of course, must also have money to be able to achieve it.

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Both financial education and having 1 million dollars can be beneficial, financial education is likely to provide more long lasting beneftis. Having 1 million dollars can provide immediate financial security and freedom, but without proper financial education it can be easy to mismanage or lose the money. Having a large sum of money can lead to a false sense of security and encourage overspending. Without the knowledge and skills to manage money effectively, individuals may find themselves in a worse financial position than before. Financial education provides individuals with the knowledge and skills to make informed decisions about money, build wealth over time and avoid common financial pitfalls. Financial education can be applied to any financial situation, whether its managing a small budget or investing in the stock market. The benefits of financial education are long lasting and can lead to a greater financial stability and success over time.

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in some cases, in my country, especially in my place, there are quite a lot of educated people, even about finances, they are very educated. However, they can't even make that much money, and quite a few are working with the government, on a steady, meager salary. on the other hand, there are people who don't even have basic financial knowledge, but they do business, and finally have quite a lot of money from the development of the business they make.
what I'm trying to explain is, sometimes we learn as we do, and that costs money. Personally, I'd go for $1 million, that's because I can make a small business out of it, and while learning. Well, you can even get a good education if you have $1 million in your pocket, and that's not even that much. In fact, currently there are so many places to study online or offline. if he has knowledge of technology, even a little, I think with his knowledge they can learn on their own. for $1 million, you can even buy a house unaware that it can be a place to live and an asset. Well, everyone has their own thoughts on this.

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Quote from: bakasabo on May 18, 2023, 07:00:46 AM

Remind me of a old child tricky question: "1 million now, or a penny that doubles each day during next 30 days". Many would choose a million right now, while a penny option is much profitable. Some people might calculate and chose a penny option, but imagine what a trader could do in 30 days if he has a 1 million to spend.

Financial education is preferable imho, but what about the situation, when it will takes an experienced person with financial education years to earn his first million, while other person can multiply that million when first person is still earning it?

That second question is the important one. One penny per day that doubles everyday for 30 days is over 5.5 million dollars, so if you are doing that for 30 days then I will be able to wait for 30 days and that's fine. But, if you asked me 1 million today or 5.5 million in 10 years?

I would say 1 million today because I can make that into 10 million and more in 10 years anyway. Not just trader but even long term investor could do that and that is why it's so important. People need to realize that we are at a breaking point in the crypto world where it could go up, so if you give me a million dollars today, I would simply put that in top bitcoin and even in the shot 2 year term I could make more than double that easily, probably a lot more. So always pick the million today, makes more sense.

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Quote from: Twentyonepaylots on May 19, 2023, 01:33:42 AM

Quote from: JeffBrad12 on May 18, 2023, 07:28:24 PM

one must have knowledge of managing money to make full use of their money and not become bankrupt but here's the thing, does this knowledge only comes from financial education? I don't think so.
things like this could be acknowledged naturally, by knowing how the worlds really works, if one get 1 million dollars and have this repulsive of always becoming consumtive and therefore drain their money faster.
then they are beyond any saving, what matters most is the inner consciousness that being consumtive will eventually drain you of your money.
and I think it doesn't need financial education to know this, just common sense.

I think the other way around of choosing the million dollar is much better in a way that financial education can be acquired using your money and also you can also seek guidance to those who are professional in the field of financial planning. It is nice to have a money that you do not really work hard for since in the right actions and guidance you can make more from this amount of money. But, since this is just hypothetical and is something that happens in real life, this is where financial educations enter to have a great impact to how you would manage your money and also grow your money so that you can get to the million worth of something you work hard for.

But for that to happen the person will have to realize they need help and learn how to hire someone which can effectively teach them and manage their money, and this is very difficult, just take a look at all the people in the forum that look for signals they can use to trade, they recognize they do not have the knowledge to do this but they try to find help at the wrong places which causes them to lose money, then it is to be expected that someone looking for a financial advisor and which has no knowledge about where to find one will suffer massive losses in the process, and they may lose everything before they find the right person for the job.

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Quote from: adaseb on May 17, 2023, 12:45:16 AM

Yes financial education should be taugh in schools, especially in high school before you are an adult and start to get loans. There are some loans which are fine like mortgages. But way too many people are getting into huge credit card debt, auto loan debt and they becomes slaves to the debt.

It’s very easy to fall into this hole. You get some unexpected expense and don’t pay off the credit card, then you are charged interest. Then if you lose your job it gets worse. And eventually you need to declare bankruptcy.

I think it is already taught in economics subject but the subject doesn't only focus on it alone. It can also talk about anything related to economy. If we want to be good at finances, we should take a separate course.

It can be online and it's much easier here. It can also be free. Financial literacy is important even at a young age and our parents can teach it to us so the more we grow older, we will know how to value money. We will save it, instead of wasting it in stuffs that are not really beneficial for us. When we have a spare cash, we will never think of borrowing. Being stuck in debt is the worse and it's almost impossible to get out on it once you get trapped.

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Quote from: JeffBrad12 on May 18, 2023, 07:28:24 PM

one must have knowledge of managing money to make full use of their money and not become bankrupt but here's the thing, does this knowledge only comes from financial education? I don't think so.
things like this could be acknowledged naturally, by knowing how the worlds really works, if one get 1 million dollars and have this repulsive of always becoming consumtive and therefore drain their money faster.
then they are beyond any saving, what matters most is the inner consciousness that being consumtive will eventually drain you of your money.
and I think it doesn't need financial education to know this, just common sense.

I think the other way around of choosing the million dollar is much better in a way that financial education can be acquired using your money and also you can also seek guidance to those who are professional in the field of financial planning. It is nice to have a money that you do not really work hard for since in the right actions and guidance you can make more from this amount of money. But, since this is just hypothetical and is something that happens in real life, this is where financial educations enter to have a great impact to how you would manage your money and also grow your money so that you can get to the million worth of something you work hard for.

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Quote from: dunfida on May 18, 2023, 04:35:55 PM

Quote from: ethereumhunter on May 18, 2023, 09:12:05 AM

Quote from: Baoo on May 17, 2023, 05:42:59 PM

To be honest, I would absolutely take 1 million dollars and then invest some of them in financial education. In fact, money without knowledge is definitely worthless. It is actually necessary to invest in yourself by feeding your mind with education otherwise you won’t succeed in any business or field you are interested in. Moreover, being competent in financial management could help you in order to take a shortcut way to achieve your business goals and reach financial stability. Also, digital marketing is essential nowadays but unfortunately there is a plenty of entrepreneurs who don’t give a value to it, you need to build attention to entice clients or customers , if your project is not widespread and seen in internet , you would definitely face troubles

You can learn to get financial education for free because we are lucky to be in this modern era so we can look for lessons about finance to learn for free. And you can use that 1 million dollar to prepare everything once you get a good financial education. And for now, investing in bitcoin is recommended by many people in this forum so we can also choose it as a long term investment. But if you don't learn anything about financial education, it will be useless even if you have more money because you don't know how to use that money well.

Everything could really be searched online on which it would really be just that possible if ever you would really be learning about financial education or whatever learnings you would really be tending up to learn or to know. Its true that it would really boils down into a certain person on how sensible they would be on handling up their funds or money for them to use it on the proper way and not just simply bust up and make use all of it without having no proper plans. You would really be making yourself getting back on being poor on the time that you would really be carelessly spending on whatever you have given or possess specially if you do know
that money that you had acquired didnt get from your hard work which your main mindset would be this " ITS FREE MONEY AFTER ALL". If this one gets on a lottery or been given up by someone then
you wouldnt really be bothering about those long term plans or whatsoever but if those money do came from extreme hardwork and long time savings then for sure the action
would be put up would really be entirely be different which it would really be a normal approach.

That's why I always recommend to my friends if they want to know about trading or investing or whatever, they can search the internet and never pay for offerings like courses because the lessons are similar to anything on the internet. But it takes time to find a place to study because there are many places on the internet and we have to look for them individually. And by seriously learning about financial education, you will be able to manage the business you start and even be able to develop it properly. And remember that we have to go through the process and we have to be patient.

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one must have knowledge of managing money to make full use of their money and not become bankrupt but here's the thing, does this knowledge only comes from financial education? I don't think so.
things like this could be acknowledged naturally, by knowing how the worlds really works, if one get 1 million dollars and have this repulsive of always becoming consumtive and therefore drain their money faster.
then they are beyond any saving, what matters most is the inner consciousness that being consumtive will eventually drain you of your money.
and I think it doesn't need financial education to know this, just common sense.

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Quote from: indo1 on May 18, 2023, 08:26:46 AM

I will take 1 billion and then take a financial education course.

It's just 1 million. No one becomes a billionaire by such conditions. Tongue

Quote from: indo1 on May 18, 2023, 08:26:46 AM

I'm sure financial education won't be that expensive.

It is not that expensive at all but learning on your own is quite expensive. You'll get to see how with your investments could fail a lot and your money will be gone into the wind if those investments that you've made didn't do so well. That's the reality in investments, you won't win at all times because not every investment or business that you do is gonna succeed. So, yes, financial education isn't expensive but going through with the actuality is an expensive learning experience.

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Quote from: ethereumhunter on May 18, 2023, 09:12:05 AM

Quote from: Baoo on May 17, 2023, 05:42:59 PM

To be honest, I would absolutely take 1 million dollars and then invest some of them in financial education. In fact, money without knowledge is definitely worthless. It is actually necessary to invest in yourself by feeding your mind with education otherwise you won’t succeed in any business or field you are interested in. Moreover, being competent in financial management could help you in order to take a shortcut way to achieve your business goals and reach financial stability. Also, digital marketing is essential nowadays but unfortunately there is a plenty of entrepreneurs who don’t give a value to it, you need to build attention to entice clients or customers , if your project is not widespread and seen in internet , you would definitely face troubles

You can learn to get financial education for free because we are lucky to be in this modern era so we can look for lessons about finance to learn for free. And you can use that 1 million dollar to prepare everything once you get a good financial education. And for now, investing in bitcoin is recommended by many people in this forum so we can also choose it as a long term investment. But if you don't learn anything about financial education, it will be useless even if you have more money because you don't know how to use that money well.

Everything could really be searched online on which it would really be just that possible if ever you would really be learning about financial education or whatever learnings you would really be tending up to learn or to know. Its true that it would really boils down into a certain person on how sensible they would be on handling up their funds or money for them to use it on the proper way and not just simply bust up and make use all of it without having no proper plans. You would really be making yourself getting back on being poor on the time that you would really be carelessly spending on whatever you have given or possess specially if you do know
that money that you had acquired didnt get from your hard work which your main mindset would be this " ITS FREE MONEY AFTER ALL". If this one gets on a lottery or been given up by someone then
you wouldnt really be bothering about those long term plans or whatsoever but if those money do came from extreme hardwork and long time savings then for sure the action
would be put up would really be entirely be different which it would really be a normal approach.

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I would worry about the person who says anything but a million dollars. You really do not need financial education to realize that you can live the way you do normally and never need to work again for that kind of money. Obviously there are some people who do work and make money more than this, so they spend more than this but that means those people usually have both of these as well.

But if you gave me this money, not only I would be able to live with it forever, but I would also make it to 10+ million dollars very very easily, wouldn't even take 10 years to be fair. How? I would invest wisely enough, but more importantly I would invest in diversified way so I wouldn't be bothered. I could literally not invest and can still survive like 400 months with this, easily.

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Quote from: Baoo on May 17, 2023, 05:42:59 PM

To be honest, I would absolutely take 1 million dollars and then invest some of them in financial education. In fact, money without knowledge is definitely worthless. It is actually necessary to invest in yourself by feeding your mind with education otherwise you won’t succeed in any business or field you are interested in. Moreover, being competent in financial management could help you in order to take a shortcut way to achieve your business goals and reach financial stability. Also, digital marketing is essential nowadays but unfortunately there is a plenty of entrepreneurs who don’t give a value to it, you need to build attention to entice clients or customers , if your project is not widespread and seen in internet , you would definitely face troubles

You can learn to get financial education for free because we are lucky to be in this modern era so we can look for lessons about finance to learn for free. And you can use that 1 million dollar to prepare everything once you get a good financial education. And for now, investing in bitcoin is recommended by many people in this forum so we can also choose it as a long term investment. But if you don't learn anything about financial education, it will be useless even if you have more money because you don't know how to use that money well.

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Quote from: Cookdata on May 18, 2023, 08:12:32 AM

I have seen questions like this being asked on the street like choosing between having a dinner with JayZ and meeting or choosing $500k and many people chose $500k, I didn't blame them, even me, I would choose the same because the world is now woke in the sense that people that are not going to school are doing well in business and that is because they understand there environment. Back to your question, even if I am not too educated about finance, I will choose $1m, the money will expose me when I try out my plans, and there high chance to survive from one of my business plans.

The choice is obvious, I think that even with a financial education, not everyone is able to earn such a lot of money. And with 1 million, there will be plenty of opportunities to get an education, and to start your own business, or this money will be enough to live a prosperous life. But in life, everything works the other way around, and in order to achieve something we need knowledge, so first we need to take care of a good education in order to get the necessary knowledge that will help us become rich.

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Quote from: indo1 on May 18, 2023, 08:26:46 AM

I will take 1 billion and then take a financial education course. I'm sure financial education won't be that expensive. I know financial knowledge is very important, but it's not wrong if I have to look for it myself on YouTube, even if I get it for free or learn from my own experience, which I think is more effective. because compared to where it is difficult to get money, 1 billion will be more difficult to obtain than that education. we can set aside part of that one billion to get what business we want with investment and research.

Seriously it takes a lifetime to earn 1 million dollars so if I get an opportunity I will take that and than can go for all types of financial education to make use of that money to grow and invest.
Financial education is very important but still you can't earn this big amount with that too.

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I will take 1 billion and then take a financial education course. I'm sure financial education won't be that expensive. I know financial knowledge is very important, but it's not wrong if I have to look for it myself on YouTube, even if I get it for free or learn from my own experience, which I think is more effective. because compared to where it is difficult to get money, 1 billion will be more difficult to obtain than that education. we can set aside part of that one billion to get what business we want with investment and research.

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Quote from: Kara3 on May 16, 2023, 02:10:04 PM

Financial education has always been a game changer in the financial state of a man, it is the best education a father can give to his children because once you are financially educated, it's near impossible not to be financially stable.

You mean financial education that might still be useful in 2030, there is a high tendency of been taught financial education that society doesn't need at that particular time, and having it on the brain is as good as not having anything on the head at all, so when there is need for financial knowledge, it is very necessary to have the trend, it is even possible for a successful high profile financial person to give you advice in all you need and may tell you to ignore bitcoin, I will reject that as a wrong piece of education.

Quote

Have you wonder why most lottery winners have gone back to square one after winning or most rich kids losing their inheritance due to poor/bad management of funds, it's because they lack financial education.

On the other hand 1million dollars is truly a life changing amount of money but if you are not financially educated, you will lose it all on the long run,
I don't know if anyone sees it the same way I do?

I have seen questions like this being asked on the street like choosing between having a dinner with JayZ and meeting or choosing $500k and many people chose $500k, I didn't blame them, even me, I would choose the same because the world is now woke in the sense that people that are not going to school are doing well in business and that is because they understand there environment. Back to your question, even if I am not too educated about finance, I will choose $1m, the money will expose me when I try out my plans, and there high chance to survive from one of my business plans.

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Quote from: alastantiger on May 17, 2023, 05:42:24 PM

Quote from: Kara3 on May 16, 2023, 02:10:04 PM

Financial education or 1million dollars

If you had said learn a skill or take a million dollars I would have picked to learn a skill but in this case I would choose $1000000 over financial education assuming that I am already financially educated. Even if I will not I will still pick a million dollars considering my introverted personality. With a million dollars I can set up a small business and hire someone to manage it for me why I on the understudy the person. Think of it as using a bullet to kill two birds. On one hand I am building a business on the other hand I am learning financial education, responsibility, and accountability from someone experienced.

You are saying the right thing on how the money will be utilized because you are already educated financially, think of someone that lack financial literacy, that's when you will know that most adult are like kids you just gave 100dollars to spend, he will just go into the candy shop and start buy what ever he pleases without even thinking about anything else.

Most times they even might decide to invest the money, but they will surely venture into the wrong investment because they lack ideas and financial education.

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Remind me of a old child tricky question: "1 million now, or a penny that doubles each day during next 30 days". Many would choose a million right now, while a penny option is much profitable. Some people might calculate and chose a penny option, but imagine what a trader could do in 30 days if he has a 1 million to spend.

Financial education is preferable imho, but what about the situation, when it will takes an experienced person with financial education years to earn his first million, while other person can multiply that million when first person is still earning it?

xSkylarx

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We have the same oppinion and those people who won lotteries (not all) and people who inheret the wealth of their parents that is a spoiled brat lost it all because you cant handle money , meaning if you only know to spend it and doesn't know how to accumulate or earn money from it then it will really gone to you that is why financial education is a must and as you can see those rich people still going to school just to learn more how to handle their money.

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