Topic: How too get rich - page 187. (Read 414958 times)

Well i think the best way to get rich is be a hard worker and work multi tasking.. While working in regular job you should collecting bitcoins and don't spend your coins.. If you do this in 3 to 5 years you will be rich..
Also wait for the highest value of bitcoin so you can make lots of money with your bitcoin 3 to 5 years from now..

Yeah agree. look at ronaldo, messi, nadal, or etc. they have income more than $200k perweek. awesome
i want to be athlete

Indeed, what the most people are saying is true, just invest in the bitcoin and wait.
The halving is coming in a few months so that will increase the price but the bitcoin is unpredictable so keep that in mind.

Investment doesn't need I guess Its just need to hold your bitcoin and buy as much you can to make profit.

You can get rich by just investing in the bitcoins for a long term and large amounts.
Because if you do not use large amounts you will net get rich even if the bitcoin will rise to a high price.

If a person does what you said, I think the age differ depending the country that live and it is dependent to your GDP per capita.

This will not work for everyone. No every profession is giving you the money to make a fortune by the age of 40 even when you live modest.

Yeah, I think if you want to be rich you should work really hard.
And I think you will be rich if you work hard or you must be lucky with gambling.

you are absolutely right, hard work and luck can make a person rich, but we also need some support and should find a comfortable job for us so as not boring

yes I agree, besides working hard we have to have good luck. sometimes we can get unexpected things.

For investing you need first money in your pocket and the title says how to get rich, and in bitcoins it will take more time for you to get rich and that too it is not 100% confirm that how much time will it take. so for living apart from investing in Bitcoin , we have to do hardwork for living from that you can start to invest little bit and think of being rich in your older days.

to get rich of course there are things we have to do, like working hard. you must have a permanent job and you work hard to maintain it, do not be too extravagant. and maybe you'll need a little luck.

You can get rich by investing in the bitcoins long term, if you long term invest them you can make huge profits.
It of course depends on how much you invest in the bitcoins, to get even rich in the future.

On investing, I am not the type to buy a stock and expect to become rich off of it. The only particular thing I ever invested in was bitcoin, because I instantly saw how extremely useful it is. But it is rare to get such a possibility just popping up in front of you. And for most, despite getting this possibility, they sold out because during the long bear markets they lost hope.

I would recommend investing in safer investment vehicles. One would be bonds. But it is difficult to buy bonds that have good yields. There are funds though that are as safe as a fund can be, and have modest yields. Sorry for it being in Swedish but here is one: https://www.avanza.se/fonder/om-fonden.html/2111/amf-rantefond-lang  It is a interest fund. It invests in long term bonds and the five year yield on it is 30%, 10 year 60%. So approximately 5% a year. Notice the fees, its only 0.1% fee.

There are slightly more risky funds which require some research. These are index funds that are based on indexes. These indexes are based on the most valuable stocks of a country. Examples: S&P 500, MSCI Europe, MSCI World etc. They are based on how good the economy is going. It is relatively easy to see when we are in a bull market and when we are in a bear market. This site: http://www.economicprinciples.org/ explains the credit cycles and why we seem to have bull markets for approximately 5 years and then bear markets for 1-2 years following. If you put your money (money you can afford to lose) in these funds, 10% annual return is common. But make sure you know when the markets are bullish, else its easy to end up losing money. Some claim this is irrelevant over a long enough period, but I would not agree with letting your investment depreciate during bear markets. Its better to sell them off and put the money in safer vehicles until the market has returned.

So as you see even my investing philosophy I believe in hard work, because you have to acquire capital first and wait years, and do your homework in the mean time.

But retiring in your 40s should be a common thing, as long as you are thrifty. Getting kids in your 30s is a wise thing to do too, get married to a younger woman.

I have a couple formulas for getting rich, but they demand that you are the type of person who deserves the money and that you start when you are relatively young. Also you have to be thrifty.

One way is investing in a degree. And not any degree at all. Not all of us were sent to prep schools or have 2 years to prepare for SATs. So the option of going to an Ivy Leage school or any other top university is very low. Some of us had to even work during our high school years so the possibility of putting in max effort in school wasnt there. But this is an illusion since most think only top tier degrees are worth it. This is not true for math/CS/engineering degrees. You can look up the statistics on those occupations - statistician, engineer (electric, computer science etc). You can always find a local college that has high acceptance rates. Your science degree will be much harder to obtain but is worth more than an arts degree from a top tier university. You also need less luck and don't have to rely on "networking", or getting a job only because your family or friend owns the company. It's easy to start at $50k once youve graduated and ending up at $100k after a decade. This requires that you are hard working, can grasp theoretical stuff, can spend lots of time reading textbooks/doing exercises/working on the computer.

The other way is being a business owner. You can start up a restaurant, a construction company, a cleaning company etc. Despite this being a possibility I still recommend younger people to get a degree anyway before trying this. This type of investment requires that you are hard working, are kind, service minded, are committed to pleasing your clients, and most important of all, have the capital needed to start your business. Once you have a business and you have a flow of clients, you have an investment for life.

Both these take you to the upper middle class and are investments for life. They are also great ways to finance a healthy lifestyle and raising your kids with some priviledge, like private school and more expensive universities, and shipping them away even higher up the social ladder.

That could be the best possible answer or at least in world of crypto cause not many people got into it when bitcoin was worth cents but now they could analyze the market and put time,effort or money to pick up the most potential one's and wait for a better value

Nonsense about hard work? You are talking nonsense. I would claim that most of the upper middle class consists of business owners. Owning a business is harder than having a job at said business. You may even work years without a day off/vacation.

Getting a degree that pays off well isn't about just working smart. Maths/physics/computer science/engineering degrees are some of the most difficult university programs. You can't read the textbooks once, think of it in a smart way and remember it. You have to do it over and over, do a multitude of exercises to get a deeper understanding of how the theories are used. And then the job that follows those kinds of degrees requires dedication to the subject, so you keep improving, which itself is a lot of hard work.

Investing is a mix of working smart, luck, and some hard work. You have to do your research, and you need capital to begin with. And you need some luck, because without it your returns are interest rates.

everyone knew about how to getting rich but only small percent of them can getting rich.  i mean, no mater how many motivation books you've read if you dont take act, you can't being a rich man... Some just read and read thinking they will get rich. Oh yeah they are now intellectual people but how do they use it? There are people who doesnt read but they are the one richer than those intellectual people. They just work and work with all of their might.

LOL it looks like you're running out of ideas. so suggest becoming a professional athlete. not everyone can be an athlete. You know the competition to become professional athletes are very strict. I know that the salary of an athlete big enough, but to be like that. pretty hard

What is this nonsense about hard work?

You have to do smart(!) work. Learn a profession, chose a field and get very good at it.

After that, don't spend more than you earn - and invest the rest of your money.

And suddenly you are rich by the age of 40.