Financial freedom and success comes from knowledge - page 6.

fullhdpixel

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Quote from: Clavulanic on July 15, 2021, 08:57:52 PM

Financial freedom is when people are out of debt and mostly the key to be free is when we know and identify our needs and wants. Buy only our most basic needs with reference to our budget and not getting what we want that lead us to lend money from someone.

Not having debts could be called as financial stability but I would say financial freedom is when you don't have to think about earning money and planning your next day. You know you will have enough even if you are going to do nothing, either through investments or other kinds of setups.

In simple words, one doesn't have to think about his bills and has enough time to invest in things they want to do in life. Elon Musk for instance is a good example of someone having financial freedom. He can sit back and relax without having to worry about money but because he follows his passion, the guy is still working hard. That to me, is financial freedom where one is doing something without the sole intention of earning money.

Renampun

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Quote from: OpenCryptoSystem on January 15, 2021, 12:06:11 PM

...

learning how the economy works, when to enter and exit an investment is important...

I salute how the richest people make money, abilities like them are not available in a short time, it takes years of hard work and analysis to be able to do things like them. we have to force ourselves to be able to learn like them.

Snappycoco

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That's how rich become richer by legally avoiding taxes i.e. in my country your money will not be taxed only if it was donated. Rich people really hated tax and they study how to get rid of that by reading the constitutions which poor people lacks of. Aside from that, lacks of knowledge with these kind of forum makes it harder for newbies of crypto understand crypto is and with that they're avoiding it.

pealr12

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No strategy works better than understanding the market, know when to buy and sell when it comes to crypto investment, if you fail to take advantage of the high price and rather hodl for whatever weird reason it will cost you the opportunity to multiply your stash, sell at the right time and buy back when necessary is the way I see anyone growing their investment, I have learnt this past few weeks.

wahyu wida

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to get financial freedom, of course, can not be obtained suddenly, except for people who are lucky or come from families who are already rich. but to pioneer financial freedom yourself, I think it takes a process and goes through many problems until we finally understand the advantages and disadvantages of the business we run

Coroline

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Quote from: bitzizzix on July 15, 2021, 09:44:19 PM

Financial success is certainly everyone's dream, but it must be based on sufficient knowledge to achieve it and to be able to achieve financial success is the ability to save and invest from an early age.
It's not something strange if the digital world is a part of our lives that must be put to good use because financial capabilities supported by digitalization advances will have an impact on one's success, don't give up easily and keep trying to adapt. technological advancements to create financial security and peace for today in the future and this industry is the right choice.

But don't just invest, choose the right business or instrument so that it can provide the benefits you expect. You can invest by buying land or houses that can be resold at a higher price than the purchase price. Investing in a boarding house or rented house is also a very promising investment. In addition, investment can also be done by buying shares or mutual funds. Another option is to invest your money in a startup company that has good growth.

The conclusion that can be drawn is that if you have achieved financial freedom, then your financial condition is very good. You don't dwell in debt and your income is far greater than the cost of living. Financial freedom also provides a guarantee for a bright future as long as you can manage your finances well and invest in the right place.

bitzizzix

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Financial success is certainly everyone's dream, but it must be based on sufficient knowledge to achieve it and to be able to achieve financial success is the ability to save and invest from an early age.
It's not something strange if the digital world is a part of our lives that must be put to good use because financial capabilities supported by digitalization advances will have an impact on one's success, don't give up easily and keep trying to adapt. technological advancements to create financial security and peace for today in the future and this industry is the right choice.

Clavulanic

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Financial freedom is when people are out of debt and mostly the key to be free is when we know and identify our needs and wants. Buy only our most basic needs with reference to our budget and not getting what we want that lead us to lend money from someone.

Bigmikie

newbie

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Financial feedom comes from knowing what money is how to spend and how to invest. Now lets analyse
1. Knowing Money means doing legitimate business or giving legitimate service inorder to be paid and where the knowledge comes in is that you know that you dont have to beg just like some people do to earn a living and so therefore it is mandatory to work and earn.
2.How To Spend, Now understand that how to spend and how to invest goes to but the only difference is what you do to retain back means of earning more which is asset of which can only be gotten through good investment .

kapalmabur

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Quote from: goldade on July 15, 2021, 09:33:27 AM

It is true that to actually achieve success in anything and not just financially, you need knowledge. This is true if anything, whatsoever. To be a doctor, you need the knowledge and not just knowledge but the right knowledge.
If anyone would achieve financial freedom and success then such person definitely needs financial knowledge. The knowledge will enable such person understand how money works and how, by putting money to work, make more money.

That's true and for me personally knowledge is very important,
without us having knowledge i don't think we can be successful,
because after all a success of course begins with first knowledge and the more we have extensive knowledge the greater our chances of achieving success

goldade

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It is true that to actually achieve success in anything and not just financially, you need knowledge. This is true if anything, whatsoever. To be a doctor, you need the knowledge and not just knowledge but the right knowledge.
If anyone would achieve financial freedom and success then such person definitely needs financial knowledge. The knowledge will enable such person understand how money works and how, by putting money to work, make more money.

Hulhala15

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I see the point of this thread but I think it is a little bit exaggerated.
Knowledge is essential and if you want to achieve something, you need to learn a lot and master different skills. Surely, you should know how to manage the budget and how to make it. Especially during the times of uncertainty and volatility you need to make the right decisions quite fast in order to make everything on time. However, from my perspective, the author of the thread exaggerates with some basic economic principles. Surely, the basics of how the money is created is fundamentals, but it doesn't really mean that we all should learn the long history of money. The same thing about sec and fed. I mean it may be important for someone who works on the Wall Street, but it doesn't mean that everyone should possess such knowledge.
I believe, the main thing that investor/trader should know is that before investing you should know what you invest in and what are the pecularities of this or that financial instrument.

AniviaBtc

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Quote from: Imran232 on January 24, 2021, 01:56:39 PM

Maybe you are right from your point of view. But my point of view is little bit different from you i believe you won't get success if you give up. No matter how much talent, luck you have. I belive luck is 1%, talent 1% work for our success because our most wanted thing is called do not give up. It is the most needy things for everyone who dreams a successful life. Because success dosen't comes fast it comes slowly. That is why we can say it is not luck it takes time so we do not give up. We just stay with our plan and work on our plan. Just do this thing and see the result. Just don't give up.

There's always no room for quitter in an investment because we need to understand that it is full of risks.

We can't eliminate risks, but we can lessen it and prevent it depending on how are we going to deal with it for the sake of success.

I don't think that talent is only 1% when you don't have any talent, then you're nothing even if you are a hard working person. Being a talented person can really help you achieve the things that you want and it will help you not rely on luck. A hardworking person without talent will just become an average person just like the others so try to stand out and make yourself a successful investor.

FIFA worldcup

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Quote from: tbone777 on March 07, 2021, 02:44:19 AM

For sure, knowledge is the most important factor. However, i still believe in luck in the stock market. Sometimes, it could create you really big profits

Countries and people cannot depend upon speculative things like stock market to earn money. I know there is a lot of potential in the stock market investment but the governments should focus on the education.

Its only the education which can make people aware and help them grow Financially.

tbone777

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For sure, knowledge is the most important factor. However, i still believe in luck in the stock market. Sometimes, it could create you really big profits

iamsheikhadil

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Quote from: wxa7115 on February 05, 2021, 12:07:53 AM

Quote from: tbterryboy on January 31, 2021, 03:09:40 PM

Yes knowledge is everything, if you don’t have the knowledge there is no way you are going to be successful in what you’re doing. Is with sound knowledge that you will be able to figure out what’s going to work for you and then you do that and it will work.

Moreover, there are cases you will see a lot of people doing the same thing and only one of them is being successful, that’s because of knowledge, that one person knows what he or she is doing because they have the knowledge and have applied it the right way, so it works for them.

It is that simple and yet people do not see it but why? And I think this has to do with the fact there is a disconnection in the minds of some people about the nature of knowledge, most people see knowledge as the thing they acquire to pass a test and then forget everything they learned the day after, they do not see that the more knowledge you have the easier it is to accumulate even more knowledge and sooner or later that knowledge will bring you great advantages.

And this is even more true when it comes to managing your own money, letting your money sit in a bank while better than spending all your money and getting loans to spend money you do not even have is not optimal, you need to at least have enough knowledge to beat inflation otherwise you are wasting your time and money, and that skill can only be gotten by accumulating knowledge about the markets and that is a process that for the most part takes years.

I blame the schools a lot for these. They don't even teach the proper basics of banking and economy, and it's kind of weird that they teach about history and geography which will never one use in their lives like which king died when etc. They should include most basics of life in the curriculums so that when a student graduates, they don't stay a noob in the real world outside of the confinement of school buildings!

el kaka22

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I used to believe that it would be something that would be impossible for me to do, numbers and charts and arrows and ups and downs it was all Chinese to me and I couldn't get it, I didn't think that I would ever have that kind of power. Now, I am in a situation where I can easily say that my profits are at a level where if I continue like this I will be able to retire in 10 years and will live a comfortable life after that. What did I do?

Well, it is actually simple but people rush things, first I found something I want to invest into, it had to be something profitable at a good level but not at a treasury bond level small income neither, I found that coin (well multiple coins) and I kept investing into them, just as I got my salary I put some in there, and I did this for years and now with the bull coming in the past 6 months I have made good income, did I sell? No, I keep buying because I want to buy for years before I sell them all and retire, if I am not retiring then I am not selling.

uelque

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Quote from: OpenCryptoSystem on January 15, 2021, 12:06:11 PM

And crypto is money and when you dont know about money then you shouldnt be in crypto ...
Or you stay in crypto learn hard and its a miracle you learn more about money

I just don't like you word "miracle". No, it's not miracle, it's hard work.

And something is actually missing on your title, you need to put hardwork dude. Yes, let's say you have the knowledge about everything, money or crypto or anything, but you don't have that one little passion to work hard for your goal, then you are just a big brainy little boy wasting your time reading books for nothing.

Success and financial freedom can only be attain through hard work. You don't actually need a lot of knowledge to become successul. You don't need to have a degree, PhD or anything to become successful. You know what you need? you only need to work hard for your goal. Thats it!
It may be here in crypto, stock market or any thing that will give you wealth. You just need to work hard for it.

paxmao

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knowledge is part of success, unless is just pure luck. However there is a lot related to being the right person, at the right time and in the right place. It is not a coincidence that Bill Gates, William Hewlett and David Packard and many other were at the right university (even if Bill was a drop-out) at the moment in which the right technologies were colluding into an immense opportunity.

Re tax optimisation, that works if you have no ties to a particular place.

LUCKMCFLY

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Quote from: Smartprofit on February 27, 2021, 05:32:55 AM

Quote from: ?? on ??

As you know clever people are always in demand. But usually they are not traders, they are cool IT-managers, economists, layers, surgeons, owners of huge corporations (last ones usually finish some cool universities like Harvard or Yale and inherit their family business). If they invest in crypto they do this just for fun and to be in trend. They really become famous and rich because of their knowledges.

Robert Kiyosaki wrote in his books that we get what we learn.

If we want to have a lot of money, we need to study finance. Our wealth is our focus on financial management. Every day you need to move in this direction. Money is not a material object, therefore the laws of movement of money are not physical laws ...

Nevertheless, this is a very important thing for us. Man is a social animal. We all live in a society. Money directly affects the quality of our life.

I read books on financial management, taxation, economic analysis every day.

I´m a fan of Robert Kiyosaki, he is a great financial analyst, in fact all his advice is great, in his way of expressing himself he offers a lot of wisdom, he is not like those investors who only recommend insurance, stocks, the stock market, he believes in Bitcoin, not Warren Buffet, and every investor must be updated so as not to be left behind, they must have their thinking and their mind so open to changes, that the economy will at some point become fully digital. I think that financial freedom is easier to achieve with Blockchain technology and cryptocurrencies than in the traditional economy.

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