Topic: How to developed your capital - page 4. (Read 1386 times)

There is a level of human ability that lacks perfection to do that simultaneously. Running a business, saving and investing will actually make them unable to focus on goals because they have to share their time so that in the end they will act beyond their capabilities. Carrying out all the points conveyed by Op is really difficult for most people and I agree more with the simplicity you mean.

Prioritize what you want to do first and once you have achieved stability then continue with other desires, but it comes back to each individual and if they are able to do it simultaneously it will be much better.

Just assume 50% are unable to do it and the other 50% have done it. It's much easier to understand because some people are capable of doing it simultaneously, take the example of several people who have done it simultaneously.

I believe OP isn't fully telling us that we should follow all of these steps simultaneously. We all have different statuses and situations so some steps are easier than others and I'm sure we all understand that. Moreover, let us not forget that OP is only sharing bits of advice and opinions that anyone is free to follow or ignore. It is a demand or order that we have to do as OP has no control over that so let us not be rude about stating that OP does not fully understand his/her post. Contrary to your reply, some members have already replied stating that OP's post is a good reminder for them on what to do and not to do, and they didn't even have to follow all of those steps, all they needed to do was to read OP's post and that is about it. Moreover, personally, OP's suggested steps aren't even that hard, if you think about most, if not all, of those steps are connected to our own mindset and attitude. OP's not asking you to save and invest 50% of your income, he/she is just suggesting a change of attitude and mindset towards savings, spending, and investing. Lastly, those suggested steps aren't even new, a lot of members in this forum (if you look at their replies) are even already applying that long before this post and they are even sharing their own experience as they do those things.

Let us be more understanding of each post and comprehend each sentences better before we make any comments please

not sure here if you are truly mean that , SIMPLE STEPS? do you really understand how hard to follow those?
maybe one or two is simple but following everything is truly hard.

that really help if being followed , but I doubt that people can complete all of those.

Trading and investing is the good way to increase the capital. However the very base for capital is through savings. Most of the time people doesn't have the habit of saving. To me savings need to be given importance same as that we give to any investment. The risk with investment is really big and so will be the profiting. At times we can't withstand the loss or handle the risk situation with an investment due to emergency need of fund. In such situation savings help us or help us on further investment as the savings can be used as the capital. Development of capital can be effectively done through savings.

Do you suggest to develop the capital by trading or investing?
Sure, no business has no risks. Both trading and investing have their own risks. But investing in BTC for a long term holding seem a bit secure than trading random coins. If we don't want to take big risks, it is recommended to invest in BTC and target for profits in the bullrun season. However, this requires few years to take the profits. While if we want to take profits faster, trading can be the option. But to trade crypto coins, we must have skills and knowledge. We also need experience to understand which trading strategy fits with current the market trend. So, it is not about dare or not. It is about our capability. Which one seems more suitable with our capability.

Before starting, the principle that you need to apply is you know what you're up to and that's with trading per se. It's not an easy thing to trade, yes, we hear success stories of how people were able to grow their capitals and make profits out of it. But that's not the actual story that they've gone through, we just want to hear what they want to say but behind that has a lot of story before becoming successful.

Real estate industry? If that it is, many are agreeing with that. Another one is to go with the industry that you're very knowledgeable with, that's one fast track of growing and developing your capital.

Pay yourself first. Save for your future or invest in something that gives you slow but steady passive income. Don't go for quick money. It will lead to losses. I encourage investment because saving money will decrease in value over time.

Also knowing where your money is going is key to identifying areas to cut back. If you can identify every spending and make a list of it, you can either cut the cost or avoid unnecessary spending. We ignore many day-to-day spending without realizing that those are extra things. If we can save from this, we can invest that money in other things to grow it. It may seem a little amount but try it for 2-3 months and you will be surprised at how huge that could become.

One more thing I want to add is, don't borrow or take loans if you are not in extreme conditions where you have to do it. If you are already in debt, try to pay off the bigger amount first. And don't take another loan to pay off the previous one.

These are just simple things that don't seem much, but when put together they can create a huge difference.

One of the major problems with people who have money already is lifestyle inflation, once you earn a lot you will now spend a lot instead of keeping stick with your old way of getting savings you are now spending more and does not left again for savings. People doing a percentage of their money. They already computed the things they need to pay for a monthly basis and now they will make sure the 50/30/20 percentage, 50 percent for your needs, 30 percent for your wants and 20 percent for the savings, base on my experience I do the 35 percent for the savings and less for the wants because I'm not into a materialistic person, keeping for savings is the best. But this all depends on the current situation you have not all people facing the same thing.

Absolutely right. I understand that for millionaires to sell their books is an additional source of income. But it is not necessary to smear the meaning on dozens and hundreds of pages. Maybe it's you and I, people with a high intelligence coefficient, who so easily grasp the meaning on the fly, and for simpler people a lot of explanations are needed - I do not know. But the main idea in the books becomes clear pretty quickly.
Sometimes I think that it is not the millionaires themselves who write these books. Rather, they convey the idea to the hired writer, and he already paints the details until the book is filled with volume.

Guys, do not think that I blame them, I am very grateful to Kiyosaki for understanding that full-time work will not make me rich, but assets will make me so.

If you dare, here is a place where we can grow our capital but with big risks. We know that trading fluctuating coins is a high risk for making a profit, therefore we have to really choose coins that have the best potential to really invest in. I think that's the quick way, if you want to be safer try to go to the real industry, there you can invest to develop your capital but with ROI in a longer time.

So, you believe reading is a waste of time because the core principle is just 'money can bring money?' I'm afraid that's a fatally oversimplified view. Have you ever thought about the nuanced applications of quantitative easing, monetary policies, or tokenomics, especially in decentralized finance?

Take Bitcoin, for example. It's not just another asset; it challenges the hegemony of central banks and disrupts the monopoly on money supply! Your summarized thought would hardly provide any insights into things like smart contracts, yield farming, or liquidity pools. See, there's a whole universe of financial sophistication that can't be captured in your little quote

These aren't books; these are blueprints for financial autonomy. And pardon me for making your reading experience strenuous. I read everything, and you should too, for your own edification

Actually this has been answered with your previous words. that "Reading books is intended for basic learners only" reading books is an introduction for us to know and understand further things. Sometimes when we read a theory or an article on the internet we are not able to understand it. then this is where it is necessary to read books so that we are able to understand and absorb more information than just what is in the books we read. And this understanding can be created by reading books and the ability to absorb the latest information as a complement.

You can tell that reading books is pointless, because you've read books. So reading is very useful and important. If only you had never read books, then you would not speculate and understand that reading books is useless.

I have also noticed this. After reading a handful of motivational and self-help books (some centering on how to be a successful businessman/entrepreneur) I noticed how the hundreds of pages of the book are mostly filled with examples that eventually end up or go back to the main point of the book, and the thing is that point was already stated and carefully explained on the first chapter. I mean don't get me wrong, of course, it is always good to have real-life examples cited in the book in order to show just how relevant and effective the main point of the book is. However, having so many examples and realizing by the end of the book that you just spent so much time reading different stories with the same outcome only to go back to the main point of the first chapter feels unproductive to me. Human beings, especially those who have a set goal, can naturally quickly pick up things, hence I don't think it should take 20 or so chapters for us to learn something that will help us on our way to success. Reading books is useful, as it has always been, but there are instances that we should analyze if it is making us less productive.

Okay, reading is not useful, of course. But it is not as productive as it is commonly believed today. I have read books by Kiyosaki, Kornegi and similar authors, but I can say that the information there is too stretched for nothing, and the main idea is always the same:

"Money can bring money. You need to buy assets."

That's all. Let it be a very key thought that has changed my life and my whole way of thinking, but it is enough. And if someone has very little time, then it is enough for him to read the thought above, and not waste his time to read hundreds of pages where this thought will be given in examples. With good thinking, the reader will understand everything for himself.

Finding the right balance can take time and you should consider that while you're still learning so much in your younger years, it is the best time to take experiences. You can make mistakes, you can bounce back, you can heal quicker and all sorts of other benefits that you might not perceive. Making mistakes, while trying to keep them as small as possible, and learning along the way is an important part of life and while you can do research with the aim to reduce them, sometimes having a painful memory can be the best warning to avoid falling for it again. Like much in life, this can apply equally to finances, as it could to love, or friendship, or work and many other areas.

To add, you may also improve your skills in which you can offer it to potential clients. Not all has the privilege to have an amount for capital in an instant, and most of us are working to have it as well. There are many ways to earn such as offering your service. Basically it would all be sacrifices and patience if yoy want to establish a capital in order to come up with a business. A business would be nothing if there'll be no revolving fund or capital. These things run in a period. Lastly is it takes initiative in order to start something. In some cases  capital alone won't be enough it should also have hardwork, perseverance, and understanding where you are engaging yourself with.

Yes, that's right, and indeed everyone has their own ways and perceptions in pursuing their dreams, and I think some of the advice that comes to them such as there are some who advise them to do something so that they can be successful like other people in my opinion it will not work, I mean they cannot process based on some coercion from others to be successful in the same field, because as I said above everyone has their own way of processing and obviously they will be able to achieve success if their strong intentions come from the heart with full sincerity. Well I agree with you, of course reading and or looking for many references such as from the internet is not a waste of time, because there will definitely be a positive impact, as we know learning is an action that always gives something positive to everyone. But again it will be useful if indeed the person knows how to do it and apply it in their life.

Obviously. don't think that after achieving success you will live a completely comfortable life, I agree with "maintaining is more difficult than getting" and also "the higher the tree, the stronger the wind will hit". So with these words alone we can conclude that the various tests when we are already at the top are not as easy as we imagine, if you cannot manage it properly then it is very likely that you will fall back down.

Very helpful, Though there are many people who cannot save nor invest because they want to lavish their money in unnecessary ways, you know when it comes to money if some people have it they cannot control their self anymore until they see an end to it, at which point they will be thinking how do they spend it. This is why I want you to understand that not all of us are capable of saving money as thought. Many people earn money to solve the problem of the many challenges they are facing.

Most of people are still looking for ways to increase their source of income, but many don't believe in Bitcoin. I once spoke with someone who advised against investing in Bitcoin and suggested instead of him to invest in bitcoin he would rather waste the money on gambling because it seems the same way to him.

Doesnt really need to be a book which it could really be even just as simple as those informations that you could really be able to read around or on internet on which it would really be giving out that kind of idea

on how you should really be doing things but in overall which making use of your own common sense should really be enough.Spending up money which is really that more that on what you do earn?
You are just basically making yourself that putting up in danger in terms of financial because there's no sense on doing such thing if you do earn less but spend more. Capital is something that would
came from your own savings which would really be intended for investment and if its just less then it would be normal that you would be thinking that it should really be that just good on looking the business
at least having some progress. You can start small and make it big afterwards but results or outcomes would be entirely be depending on how well you do handle your business.

We know that it is really just that easy to make a business or investment but being successful into it would really be never a guarantee on which it would really be just that
understandable that results might really vary and some mix of luck on whatever things you are really that tending to do so.

Reading books is for basic learners only, and on average of everything we want to get from the book or the essence of what the author of the book wants to be conveyed by we can look for it on the internet, and if reading the book needs many titles about the same thing Because to show the correlation of business mechanisms or whatever it is about strengthening capital because usually every author has their own opinion about economic matters or about anything.

The method of reading books and information updates alone is not enough and not necessarily successful, this is indeed a benefit but not necessarily when practiced you can immediately get what you want, to accelerate this is by also practicing it or in conjunction with the effort you use, So that what is still from the information both from books or other media, but it should be remembered that every sector in increasing capital has different methods and principles, so you need to filter again it all to match what you do.