Topic: If you want to be wealthy you need action - page 13. (Read 1811 times)

Failure or success is a consequence that will be accepted by anyone who tries. If you fail, don't give up, but get up and try again. No success comes without sacrifice, even the richest people have failed but they keep trying and trying. The problem is with the mindset, weak people don't have a better mindset so they are too engrossed in their comfort zone.

I once received advice, it said: Don't chase the money, but chase the knowledge. Money can be made in any way if you have knowledge and skills, while without skills and knowledge you will not make money.

On the road to success you cannot underestimate learning from other people's experiences that have already gone through the business path that you want to take, otherwise you can make costly mistakes that you would've avoided if you've learned from their experiences. But I can agree that after learning from them that you should be the one to decide your own part, what you've learned from other experienced people will serve as a guide to you, so you can have a clearer vision from different perspectives. It's good to learn from your own personal, but we can not discard the experiences of successful people

I second your opinion here and yes sometimes we are so occupied with only theoretical knowledge and what we see online and deep research that we ourself keeps delaying our success by not taking actions at the right time because we want to be perfect and we want everything to be perfect without any error and that's the biggest mistake we make since we waste time and do nothing. We need to get into action, make mistakes, learn from mistake and convert those mistakes into experience.

I agree with it, if we want to succeed then we must take risk or start what you need to do, it is always better to make a move or take risk than to regret it in the future.
If it doesn't work use it as a learning experience and try to make it better in the next try, identify what you need to change in order to make it succeed in your next try.
Nothing would happen if we wouldn't take action for what we want, we could dream or think about it all day but nothing would change unless we start acting to make our dream happen.

It is true that it takes time and experience to get better, not just studying. However, we need to realize the importance of that too, because we can't just make it so that we can't really make zero money, it is not going to work out well in the end. I know that it feels like experience is the most important thing but if you know nothing about trading then you can't make a good income from it by just assuming whatever you do is right.

You need to first start with studying to get better and if you know what you are doing then you are going to get better with time eventually. So do them both, do not think experience is enough, do not think studying is enough, you need to do both and first study to be better and then you need to keep doing it to gain experience and be better that way.

Knowledge doesn't just come only through experience, you can gain it through learning. How would you prefer to make mistakes when you can learn from other people's experiences? You cannot underestimate the benefits of learning from books and experienced people. It would be unwise to venture into a business or career without doing in-depth research about such an endeavour. It is good to start and make mistakes as you engage in the activity but you can reduce mistakes by learning from others through books, tutorials and other mediums. 

These are your views. There are other viable means of making money besides the mediums you have listed. DCA works perfectly with people who are also low-income earners. All you should do is keep some funds aside weekly or monthly based on your capacity.

Non of these facts is out of line As it speak volume in me,  though not All experience is Worth taken or lesson derivative but personal experience Worth more than reading book from any source. Something happens to me after reading and watching some video on how to operate trading using demo acct for practice when I fully start I realized there is more to the system than what I read and watched, this make me concur to this experience.

The experience does not always have to be personal; personal experience can be costly.

To be rich is different from being wealthy. Wealth comes from a lot of riches. The difficulty for most people is becoming rich, but after that has been achieved, there is another challenge, which is making those riches more and more sustainable, which transforms into wealth.

If you took careful action to become rich, you need more action to be wealthy, and the action has to be intentional.

In short, focus on putting all your knowledge into application until you develop them as your new skills. Without actions and real life experiences, you will never see your own growth and real value in that aspect. That should be the real mindset for those who aspire to become rich and wealthy in the process, as knowledge alone without actions will remain useless.

Also, if you can make it happen today, do it now, don’t procrastinate. Otherwise, being lazy that keeps you procrastinating will serve as a big barrier to become successful and wealthy.

Yes, maybe you are right that action and learning from mistakes is the path to success, and that is the nature of most successful people. Because I once read that successful or wealthy people are stupid people who always make mistakes but they are persistent in getting up. That will increase your chances of getting lucky. And to become wealthy also requires luck, because luck is the main factor in becoming successful and wealthy. What happens most often is that those who make money initially get their money from someone else, through inheritance which increases their chances, but this is always a matter of luck. Don't believe the myth of entrepreneurs who are friendly, kind, talented, and thrive on their own efforts.

Those at the top get there not because they are great, but because they often had some luck when starting out, for example being born male, white, and wealthy. Because they had many lucky moments on their way to the top. So the formula for being successful is Hard Work x Unfair Advantage. But hard work remains an important factor in achieving success. Because if there is no hard work, then what is there to increase the chances of success? There are also many people who are lucky but don't make good use of the opportunities they have and end up with nothing. So everything is needed to become wealthy.

I disagree. You can still do dca method even if you do not have that huge amount of income. The idea that you cannot invest unless you are wealthy is just wrong.

If you know how to manage your finances well and you are able to save some of your income to direct to great investments then surely it is possible. If you manage to invest even in small increments but regularly then you can see some profit already after quite some time. Though of yourself you have to be careful with your money.

Index investing and DCA is the best that the majority of people can do to become more wealthy. But this only works if you have big enough income

I agree because everything you can read in books are all theoretical but the real world is full of different kinds of factors that could influence how a specific situation plays out. This is why no one nor anything can prepare you to million different kinds of different situations to happen in real life.

Exactly do not be stuck in where you made a mistake but rather go see and learn why you made that mistake and how you can make it better next time.

You need to take action and learn from the mistakes
Knowledge come only from experince.

You can read books listen all the gurus, but it's nothing compared with your own experince.
Instead of reading the books or listening the gurus learn the basics and start action make some moves because you will need to be ready to make mistakes don't take this emotionally be with mindset that you gona have nice long 3 years of working with something make mistakes don't think about them too much just make notes what went wrong and move on dont make same mistake try new way.
At the end you will have a lot experince base to see what did worked and what did not worked out.

Do not think you gona hit success with first shot just swich off all your emotions do it fast make notes fast don't get in bad mood because something did not worked
Stupid person will get smarter only with actions smart person who think too much will stay only with knowledge what all ready have.
Instead of thinking just make moves and you learn on the way the knowledge mixed with experince is what makes CEO-s that's why no matter how good is your degree of something your new work place think you have value only If you have real experinces.

Think something that experinces are like gift once you have them even bad ones your value will increase therefor your personal market value will be also higher.

Don't be stucked with bad mood If you try something and it's not working you have to be mindset that you gona make 100 mistakes yes you will make it that's normal.
People who take failures too hard will just overstress themselfes and that's why they slow down their success.