Topic: Financial freedom and success comes from knowledge - page 7. (Read 1560 times)

- Luck and knowledge should be the perfect couple to create financial freedom and success, without a part of both, our path to growth will be limited, separating ourselves from the end goal, an obvious fact that we can often see, people who have intelligence in school but just because of bad luck, they are cut off their careers. Besides these factors, we should also have persistence with the path we have chosen, no one succeeds immediately or succeeds in the first start-up, it all takes time and accumulation

Importantly luck too, many knowledgeable persons also failed because they did right things at the wrong time so they got rekt and got back to their 9 to 5 job or even completely ended their life after that.Financial freedom comes from the knowledge but that knowledge comes from lot of failures which is the missed part when someone read about success of the existing millionaires. Elon Musk can be the perfect example because he was struggling a lot when the had the vision of Electric cars but after the years of hard work it now paid off.

That is the really discuss for knowledge is just what it is, it can't take you beyond that but wisdom and luck shape you. Knowledge is an idea and you need some things to add up to that knowledge to have success. Even your personal knowledge needs to be supported with others. You are not an island or nobody is an island to succeed.

This can be solved only if the government in these depressing countries and states can change laws in such a manner that entrepreneurs are appreciated and given some kind of incentive to start their own business instead of everyone looking to just grab a job in a good company and never think of doing something of their own interest.

Knowledge alone cannot do much and it also has to do with how much risk taking ability one has, I heard some stories where guys left their job and took big risks and they paid off. Its not that they had to take those risks, but they did, so it also depends on what faith one has in his abilities.

Knowledge is essential as it helps you to differential between the right and wrong type of investment. Just like consider in crypto, if you done your research and picked the right coins you end up making money, and in same case invested in any unknown coins you might just end up losing money though overall market might rising. So knowledge do play vital role and if have some backing of luck it becomes the best thing to happen.

I think you wanted to say lawyers and I agree that most of the smart and knowledgeable people will be mostly hired by big companies under decent departments. But some who never cared for a job are there too like one example can be Satoshi himself because he might have easily got a high profile job and might even be the CEO of a big company given how much knowledge he had as he made complex blockchain look simple and gave the world this concept for the first time.

But he chose to actually work for the community and made something which not only gave him financial freedom but almost anyone who worked or was in the community that time, would have their lives changed. Once you work for something where you aren't thinking about money, the results surpass any expectations.

Knowledge in any case is a prerequisite for success, another question is that you are required to have a different level of effort and knowledge, depending on what stage you start your ascent on the life ladder Knowledge is always necessary, but not everyone can have great talents to use the newly acquired knowledge with great success. And it is not for nothing that it is said that a lot of knowledge can mean a lot of sadness.

Not all of us can do this, many just want to have a promotion in their job or looking for a better job, here in our country, people just dream to  work abroad for a greener pasture, setting up a business is still the best option because you will have control of your finances and your action, than having other people control your future and your plan.

Sad reality and this is one of the problems on why poverty cant really be resolved and as a global scale type of problem then this turns out to be a typical one with due to some inevitable situations

its just normal for them to prioritize on things that would really be able for them to sustain or able to survive on daily basis.Even if they do able to know it but still they do end up on missing out opportunities
due to financial problem.

You do have the knowledge but your capacity or capability will pull you down then its really the sad fact.

Anyone in a good position will invest in other financial assets, if you are not having the time either you hire someone to look after your portfolio and they will update you about the market situation and you give the green signal according to their research whether it is switching the stocks or mutual funds or anything financial related about the assets you are holding.

To be successful in life all you need is common sense and you need to follow those right from your education and then getting a job and then building your career and everything follows.

Yes, of course, financial freedom is what almost everyone wants. Yes, indeed, to get this freedom and the result, you need to have information. To obtain information, you need to spend a lot of time studying the news. All this is absolutely necessary for us in our time. However, perhaps this is a trap for each of us? You are probably right when you wrote at the end that the world is a scam. I myself have recently begun to notice that they are simply deceiving us. However, in order to survive in this world, we need to be able to adapt, which means we need information, knowledge to survive this time.

Except you fail to consider those who live under the poverty sector, with no means to invest even if they did have the adequate knowledge since of course, they're going to focus more on their daily needs instead of trading,or setting up a business. They're going to eat tomorrow or today, not in the next 7 years.

Everyone has the opportunity to become rich, whether they have been born into a rich family. Or even people who come from the middle economic
class. Maybe those born to rich families find it easier to have financial freedom, because they already have inheritance and networking. But still
without having the knowledge to manage money, people from rich families can become poor. Therefore, knowledge is very important even for rich
people. Moreover, people are not born from rich families, must be more diligent in studying in order to have knowledge related to how money works.

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.

It might be true for some cases that lack of knowledge might be a barrier for them in their way to earning big but most of the times its situational problems like if you belong to a middle class family who never had the money to support you, then, despite having the best ideas and highest intelligence you will struggle making money.

Knowledge along with some luck and decent preparation might be the right combination for success and eventually freedom. Knowledge alone can help you think and address problems, but luck is needed for the plans you make to succeed and preparation helps you develop backup plans and making the plans even more robust.

Bitcoin was a combination of all three if you closely observe.

Luck: No one would have known about Bitcoins if Satoshi's wasn't lucky enough to generate enough interest initially.
Knowledge: Someone who created the blockchain idea in 2009, I am not capable enough of talking about his knowledge and skills. His work speaks for him.
Preparation: Things like confirmations on transactions, mining were a result of smart preparations.

You make an interesting point, in my experience what happens is that the academia has lost its touch with the real world, you can learn a lot from it but as you say most of it is theoretical in nature and it is a completely different thing to actually try to put that knowledge into practical use, this is why so many young adults have a problem finding a job when they finish college, the fact they have no experience should not be a problem if what you learned in college was what businesses wanted but since that is not the case then those businesses do not want to waste the time training a person that could not be there anymore during the next months.

This is why I always recommended to anyone that was willing to listen that once you got to the final stages of your college education you begin to look for a job related to your major, that way as soon as your education ends you will have some experience already and finding a better job will be many times easier, so while knowledge is power that is only true if  you have a way to put that knowledge to practical use.

Because rich people came from rich family and those that were novuea riche were lucky that they found a niche in the market that will make them sell big time, excluding the fact that they come from a family that can afford to lose because of a risk is not a good thing to say when you want to glorify the rich people and to invalidate the efforts of the poor people. Poor people work for money because the moment they stop and it is time's up for them. Sure your testimony will hold up but you sound like you invalidate the hard work that other people that didn't become like you.

Why do many rich people make money easier than poor people. Because the rich have knowledge and know how to make money work for them,
otherwise the poor prefer them to work for money. From simple thinking like this will have a different impact for the future. I worked in an office
for about ten years but I couldn't afford a house and a car, but when I focused on investing and trading in cryptocurrency. It only took two years
for me to be able to buy a house and a car. From my experience, if we want to be rich people must have the knowledge of how to make the money
system work for us.

It's been said a million times knowledge is power in every area and all aspects of investment what can you the edge and financial security it always start on what you know and what you know will carry you to the best journey of your life in financial, there are some people who got lucky in winning a lottery or they have inherited a huge amount but if they do not have the proper knowledge on how to use that wealth it's not going to last.

The fact that Knowledge comes from Education might be true about the past, but now it's a completely different story. Nowadays most universities are focused on theoretical studying rather than practical application, and that is a very big problem. You finish your classes with tons of information inside your head and no idea about what to do with it. Many professors that educate also know everything just in theory, but in practice, in real life - everything is different. I know all this for a fact, because I was a very hard-working student, graduated top of the class, participated in conferences, etc.
And all of it literally gave me nothing.

Many of my groupmates that were far worse than me are now actually in a better financial state, because while I focused on books and learning, and articles - they focused on earning actual money. And I realized, that searching info on websites, consulting with real specialists, attending webinars, etc turns out to be WAY MORE EFFECTIVE, than all those years of studying.

Damn, I learned much more from this forum, than from all my economics/finance classes at the university! And all of this is FREE, the only thing you need - is effort and the ability to filter information, find reliable sources. You basically need college as a formal requirement now, to get your degree, real knowledge you acquire elsewhere.