I'm glad you're all willing to share your views here on understanding good investing, how to manage it, and how to get started. I have no more reason to keep this thread open as I think all your feedback has provided me with quite a helping hand for me and other users' insights with regards to investing.
Finally, I must close the thread by thanking all of you, and your opinion which comes from investment and money management experience so that it is hoped that it will be a useful solution for anyone who is interested in investing. Wealth is sometimes just a casual formality which may not be better than economic stability, but with an investment mindset we can really expect to have a bit more profit even if we never get rich in the end. So, thank you for participating.
Topic: Never expect you to be rich without investment (Read 600 times)
"I was not born into a rich family, nor am I one who will receive much inheritance from my parents and I have to work hard to make ends meet." At least that's a sentence from my friend that inspired me to make this thread.
I honestly feel that the sentence above is one of the saddest sentences to hear when someone starts talking about their economic condition. It is clear that everyone is obliged to work to support himself and his family, but when they neglect investment then I believe that these people will never get rich except by a miracle of God.
Investing I mean not just crypto investing, but any investment he likes. This allows one to make good profits in the future. That is, the more assets that can be invested, the greater the bright hope for the future. I've heard stories about investing $1000 in crypto making someone a billionaire before (in our fiat currency), and it's a fact to say that don't expect to get rich without investing unless you are the heir to rich parents.
I honestly feel that the sentence above is one of the saddest sentences to hear when someone starts talking about their economic condition. It is clear that everyone is obliged to work to support himself and his family, but when they neglect investment then I believe that these people will never get rich except by a miracle of God.
Investing I mean not just crypto investing, but any investment he likes. This allows one to make good profits in the future. That is, the more assets that can be invested, the greater the bright hope for the future. I've heard stories about investing $1000 in crypto making someone a billionaire before (in our fiat currency), and it's a fact to say that don't expect to get rich without investing unless you are the heir to rich parents.
You have to define rich in this context, for most societies if you have a job that makes the average across the country it is possible with enough time and if you buy your own house to become reasonably comfortable. You are rich versus people who have the instability of renting from a landlord after it is paid off and you can likely live comfortably off a pension you might have accrued from your company as well. It really does vary so much between countries that it's hard to define, but most would be happy enough in that situation without the desire to be overly rich. Investing can come with very high risk depending on what you're buying into and can set you back quite far if you make the wrong choices, so be wary of assuming it'll work out well.
There is a phrase that says "money is not everything, but it leaves you very close to happiness".
I always meet people who say the money is not enough and they have good jobs, a good family, a great house, they live well, let's say they are not millionaires, but they lead a similar life, maybe that is the problem.
I am not the one to give advice to anyone, but one should know, How much money do you want to meet your wealth goals?, there is a number, you must know it, the point is, if you know the difference of money daily or monthly you need to be "rich" you may be surprised that you are not far from achieving it.
The expectations of that value decrease as the years go by, because you understand that wealth can be comfort, tranquility, peace, love, etc. the priorities to what they call wealth, become simple things.
In any case, investments regardless of the amount require additional money, use it as if you were a millionaire, a millionaire if you lose $10,000 does not affect they because you have a million, if you have $1000 you risk $10 if you lose them it will not affect you, but if you risk $100 you should understand that you are losing 10% of your capital, not $100.
I always meet people who say the money is not enough and they have good jobs, a good family, a great house, they live well, let's say they are not millionaires, but they lead a similar life, maybe that is the problem.
I am not the one to give advice to anyone, but one should know, How much money do you want to meet your wealth goals?, there is a number, you must know it, the point is, if you know the difference of money daily or monthly you need to be "rich" you may be surprised that you are not far from achieving it.
The expectations of that value decrease as the years go by, because you understand that wealth can be comfort, tranquility, peace, love, etc. the priorities to what they call wealth, become simple things.
In any case, investments regardless of the amount require additional money, use it as if you were a millionaire, a millionaire if you lose $10,000 does not affect they because you have a million, if you have $1000 you risk $10 if you lose them it will not affect you, but if you risk $100 you should understand that you are losing 10% of your capital, not $100.
Having a single source of income will not make a person rich unless this person earn a monthly income of million worth but if not or just an ordinary people let's yes earning big but having no other streamline of income will definitely far from reality to become rich. And yes, investment is one of the way to become rich, well not just investment in cryptocurrency but in any kind of investment like real estate, stocks, bonds etc. A rich person his money works for not he is work for money and that's the mindset of a wealthy people.
There is an interesting quote to read which reads "If your salary is your only source of income, then you are only one step away from poverty". If I'm not mistaken, that's one of Warren Buffet's suggestions. Investment is also not always about wealth but some other things like passive income is the goal. I think there are many other reasons why a person should invest even if it is only 10% of his salary because relying on salary to survive is not a smart choice.But everything seems not as easy as it sounds because investing is a risky choice for those who are not knowledgeable. It is easier for them to invest in gold and keep it for years compared to digital assets like bitcoin. But if they are really interested in investing in crypto then at least they must have 3 things, have clear goals, understand investment risks and how to minimize losses.
"I was not born into a rich family, nor am I one who will receive much inheritance from my parents and I have to work hard to make ends meet." At least that's a sentence from my friend that inspired me to make this thread.
I honestly feel that the sentence above is one of the saddest sentences to hear when someone starts talking about their economic condition. It is clear that everyone is obliged to work to support himself and his family, but when they neglect investment then I believe that these people will never get rich except by a miracle of God.
Investing I mean not just crypto investing, but any investment he likes. This allows one to make good profits in the future. That is, the more assets that can be invested, the greater the bright hope for the future. I've heard stories about investing $1000 in crypto making someone a billionaire before (in our fiat currency), and it's a fact to say that don't expect to get rich without investing unless you are the heir to rich parents.
Obviously, this is true, but I feel Investments in traditional assets is no more the key to becoming rich, everyone does that these days, it might make you financially protected and safe, however, forget that it will make you rich in any way. Traditional assets give at max a return of 12-15% which to is in equities in a longer run, while inflation these days is around 5-6% even for countries like the US. In such scenarios, the only way one can become rich is if he keeps investing for 25 years straight and then enjoy what he has earned after turning around 50. I would rather recommend finding newer ways of getting greater ROI, crypto obviously was a way then come to the NFTs, don't put in everything here but start small and eventually put some percentage of your capital when you are confident enough. This way only one can become rich these days, I honestly feel that the sentence above is one of the saddest sentences to hear when someone starts talking about their economic condition. It is clear that everyone is obliged to work to support himself and his family, but when they neglect investment then I believe that these people will never get rich except by a miracle of God.
Investing I mean not just crypto investing, but any investment he likes. This allows one to make good profits in the future. That is, the more assets that can be invested, the greater the bright hope for the future. I've heard stories about investing $1000 in crypto making someone a billionaire before (in our fiat currency), and it's a fact to say that don't expect to get rich without investing unless you are the heir to rich parents.
Having a single source of income will not make a person rich unless this person earn a monthly income of million worth but if not or just an ordinary people let's yes earning big but having no other streamline of income will definitely far from reality to become rich. And yes, investment is one of the way to become rich, well not just investment in cryptocurrency but in any kind of investment like real estate, stocks, bonds etc. A rich person his money works for not he is work for money and that's the mindset of a wealthy people.
There is an interesting quote to read which reads "If your salary is your only source of income, then you are only one step away from poverty". If I'm not mistaken, that's one of Warren Buffet's suggestions. Investment is also not always about wealth but some other things like passive income is the goal. I think there are many other reasons why a person should invest even if it is only 10% of his salary because relying on salary to survive is not a smart choice.But everything seems not as easy as it sounds because investing is a risky choice for those who are not knowledgeable. It is easier for them to invest in gold and keep it for years compared to digital assets like bitcoin. But if they are really interested in investing in crypto then at least they must have 3 things, have clear goals, understand investment risks and how to minimize losses.
Agreed. Most jobs don't pay well these days and with the inflation going ever higher, it's hard to keep up. At this rate you'd need an investment just to keep up. Being able to start your own business is nice but you're still basically working on a job, you just happen to be your own boss so investing in other people's businesses is still needed.
now those who only rely on income from one direction only then it will be very difficult to get rich, even those who are employees today, are led to have a side job or invest elsewhere to be able to meet and even get more savings. The increasingly fierce competition forces us to think hard to find additional income from other places and investment is the best solution.
Agreed. Most jobs don't pay well these days and with the inflation going ever higher, it's hard to keep up. At this rate you'd need an investment just to keep up. Being able to start your own business is nice but you're still basically working on a job, you just happen to be your own boss so investing in other people's businesses is still needed.
now those who only rely on income from one direction only then it will be very difficult to get rich, even those who are employees today, are led to have a side job or invest elsewhere to be able to meet and even get more savings. The increasingly fierce competition forces us to think hard to find additional income from other places and investment is the best solution.give out those kind of chances no matter on what would be the dealing or engaging on things which it is understandable that it would really be needing some effort for you to achieve on what you do have in mind.
It would really be just common sense that you should do put effort and be wise on making decisions on having investment because this is the only way on making yourself rich without depending on some inheritance
or some sort.
Agreed. Most jobs don't pay well these days and with the inflation going ever higher, it's hard to keep up. At this rate you'd need an investment just to keep up. Being able to start your own business is nice but you're still basically working on a job, you just happen to be your own boss so investing in other people's businesses is still needed.
now those who only rely on income from one direction only then it will be very difficult to get rich, even those who are employees today, are led to have a side job or invest elsewhere to be able to meet and even get more savings. The increasingly fierce competition forces us to think hard to find additional income from other places and investment is the best solution.
This is something I have seen with many developers and "idea people". They imagine that they could do everything, just give 5% of their company to someone that will pay them to make it, then they will get it done and make profit from it.
I am sorry but nobody will do that to you, if you had super rich parents with amazing networks then you could get that because the network you have allows you to meet with people who won't even care, like literally give it to you like a donation. But, regular people will not be able to get that, you need to actually have a product to do this, otherwise it makes no sense why people would give it to you.
I am sorry but nobody will do that to you, if you had super rich parents with amazing networks then you could get that because the network you have allows you to meet with people who won't even care, like literally give it to you like a donation. But, regular people will not be able to get that, you need to actually have a product to do this, otherwise it makes no sense why people would give it to you.
Having a single source of income will not make a person rich unless this person earn a monthly income of million worth but if not or just an ordinary people let's yes earning big but having no other streamline of income will definitely far from reality to become rich. And yes, investment is one of the way to become rich, well not just investment in cryptocurrency but in any kind of investment like real estate, stocks, bonds etc. A rich person his money works for not he is work for money and that's the mindset of a wealthy people.
There is an interesting quote to read which reads "If your salary is your only source of income, then you are only one step away from poverty". If I'm not mistaken, that's one of Warren Buffet's suggestions. Investment is also not always about wealth but some other things like passive income is the goal. I think there are many other reasons why a person should invest even if it is only 10% of his salary because relying on salary to survive is not a smart choice.But everything seems not as easy as it sounds because investing is a risky choice for those who are not knowledgeable. It is easier for them to invest in gold and keep it for years compared to digital assets like bitcoin. But if they are really interested in investing in crypto then at least they must have 3 things, have clear goals, understand investment risks and how to minimize losses.
Agreed. Most jobs don't pay well these days and with the inflation going ever higher, it's hard to keep up. At this rate you'd need an investment just to keep up. Being able to start your own business is nice but you're still basically working on a job, you just happen to be your own boss so investing in other people's businesses is still needed.
Well this is one thing often not mentioned by other people who encourage other people to "invest". Investing carries a degree of risk so it's possible to not get anything out of it.
Investing can be a stepping stone to become rich. Everyone can invest, but not everyone can become rich. Its because scam is existing and if you're not careful where to invest your money then you might lose it. Thus knowledge is important before investing, because having a capital to use is not only the basis if how much return you'll get, remember you have to be wise too.
Nevertheless, there's no assurance that you'll succeed or become rich if you invest but you will never know the result unless you try. But its better to invest your money rather than letting it sleep in the bank.
Nevertheless, there's no assurance that you'll succeed or become rich if you invest but you will never know the result unless you try. But its better to invest your money rather than letting it sleep in the bank.
Well this is one thing often not mentioned by other people who encourage other people to "invest". Investing carries a degree of risk so it's possible to not get anything out of it.
Work alone couldn't make them rich unless they are getting a high salary from it.
I think it work is only necessary to make it on our daily life but if we want to get rich or have an easier life then investment is what we need.
It is either we work more shift or part time job to be rich or let our investment do the work for us.
I think it work is only necessary to make it on our daily life but if we want to get rich or have an easier life then investment is what we need.
It is either we work more shift or part time job to be rich or let our investment do the work for us.
Having a single source of income will not make a person rich unless this person earn a monthly income of million worth but if not or just an ordinary people let's yes earning big but having no other streamline of income will definitely far from reality to become rich. And yes, investment is one of the way to become rich, well not just investment in cryptocurrency but in any kind of investment like real estate, stocks, bonds etc. A rich person his money works for not he is work for money and that's the mindset of a wealthy people.
And never forget to invest more on knowledge so buy books that will help you from your journey to getting rich. Opportunity rarely come to us but once we see one, we grab it as long as you know or dyor first if you don't know about it.
Work alone couldn't make them rich unless they are getting a high salary from it.
I think it work is only necessary to make it on our daily life but if we want to get rich or have an easier life then investment is what we need.
It is either we work more shift or part time job to be rich or let our investment do the work for us.
I think it work is only necessary to make it on our daily life but if we want to get rich or have an easier life then investment is what we need.
It is either we work more shift or part time job to be rich or let our investment do the work for us.
Having a single source of income will not make a person rich unless this person earn a monthly income of million worth but if not or just an ordinary people let's yes earning big but having no other streamline of income will definitely far from reality to become rich. And yes, investment is one of the way to become rich, well not just investment in cryptocurrency but in any kind of investment like real estate, stocks, bonds etc. A rich person his money works for not he is work for money and that's the mindset of a wealthy people.
Well, it's important how much salary you have at your job, if the salary is low, even with several jobs it can be difficult/impossible to survive a month and have for everything! In that case, investing can be an impossible mission, but it is not completely impossible! It takes a lot of giving up even some normal things, instead of traveling by car to travel by bus, searching for discounts when buying anything from food and clothes, avoiding or not going out to restaurants and similar stuff, and no traveling too far! Whoever wants to do something more in life will decide to take that step, lazy people and people without ambitions will stay where they are!
Some people get rich by birth, some have to work hard to get rich! Definitely, without investing it's hard to make a fortune, we have to try and sometimes take risks, without that we are stuck! It's how I see it!
Work alone couldn't make them rich unless they are getting a high salary from it.
I think it work is only necessary to make it on our daily life but if we want to get rich or have an easier life then investment is what we need.
It is either we work more shift or part time job to be rich or let our investment do the work for us.
I think it work is only necessary to make it on our daily life but if we want to get rich or have an easier life then investment is what we need.
It is either we work more shift or part time job to be rich or let our investment do the work for us.
Having a single source of income will not make a person rich unless this person earn a monthly income of million worth but if not or just an ordinary people let's yes earning big but having no other streamline of income will definitely far from reality to become rich. And yes, investment is one of the way to become rich, well not just investment in cryptocurrency but in any kind of investment like real estate, stocks, bonds etc. A rich person his money works for not he is work for money and that's the mindset of a wealthy people.
"I was not born into a rich family, nor am I one who will receive much inheritance from my parents and I have to work hard to make ends meet." At least that's a sentence from my friend that inspired me to make this thread.
I honestly feel that the sentence above is one of the saddest sentences to hear when someone starts talking about their economic condition. It is clear that everyone is obliged to work to support himself and his family, but when they neglect investment then I believe that these people will never get rich except by a miracle of God.
Investing I mean not just crypto investing, but any investment he likes. This allows one to make good profits in the future. That is, the more assets that can be invested, the greater the bright hope for the future. I've heard stories about investing $1000 in crypto making someone a billionaire before (in our fiat currency), and it's a fact to say that don't expect to get rich without investing unless you are the heir to rich parents.
I honestly feel that the sentence above is one of the saddest sentences to hear when someone starts talking about their economic condition. It is clear that everyone is obliged to work to support himself and his family, but when they neglect investment then I believe that these people will never get rich except by a miracle of God.
Investing I mean not just crypto investing, but any investment he likes. This allows one to make good profits in the future. That is, the more assets that can be invested, the greater the bright hope for the future. I've heard stories about investing $1000 in crypto making someone a billionaire before (in our fiat currency), and it's a fact to say that don't expect to get rich without investing unless you are the heir to rich parents.
It is truly a sad statement, but if you look deeper in the word rich there is many possible definition of it. First one is; rich in terms of people network. You might lack of finance, yet if you are rich in networks it is not impossible to achieve your goal of being financially free you just need to surround yourself with the correct people with the same mindset that you have. Second is rich in knowledge; some unlucky people who are not bless financially are sometimes more blessed intellectually. With this, they utilizes their knowledge and uses it to spear their way to success, leading to financial freedom. Lastly, the rich who are bless financial.
Work alone couldn't make them rich unless they are getting a high salary from it.
I think it work is only necessary to make it on our daily life but if we want to get rich or have an easier life then investment is what we need.
It is either we work more shift or part time job to be rich or let our investment do the work for us.
Each of us has our own goals about why we work though generally to earn money. However, the mindset about investment is not shared by all workers, especially when these people work just because they want to meet the necessities of life, family economic responsibilities, or pay debts.I think it work is only necessary to make it on our daily life but if we want to get rich or have an easier life then investment is what we need.
It is either we work more shift or part time job to be rich or let our investment do the work for us.
Regarding investing, I also admit that not everyone who has the desire to invest is guaranteed to get rich but he is on the right track to at least have good expectations of what he invests in the long term. On the other hand, when they never want to invest, they will only work to survive which in the end only meets the needs of clothing, food and housing. But all of this is not just about how we get rich, it is part of the way we think about how money can be useful.
In order to be rich, you have to have something that'll make you rich, otherwise it's just wishful thinking. You have to put in not only the money, but also the effort and time to make your investments grow. I think most people already understand this, but doesn't have the willpower to make it a reality for themselves.
At this day and age, financial literacy and having an investment is very crucial. If you do not have any of this you're sure to get your finances ruined and your future affected. IMO people should learn how to invest and how to pick the right investment with the amount of money that they have.
I agree with you on this, A financial illiterate will always find himself venturing into wrong investments, you can not do things right when you find it difficult to differentiate between right and wrong. I advise people to go for financial education, seminars organized by experts in order to get more knowledge on how to invest wisely. At this day and age, financial literacy and having an investment is very crucial. If you do not have any of this you're sure to get your finances ruined and your future affected. IMO people should learn how to invest and how to pick the right investment with the amount of money that they have.
I understand that without investment, the life we live will be stable or maybe decrease, the cost of living and inflation that continues to increase make us have to be creative, now there are more investment choices so that we can make the best choice to change our lives in the future.
Investing can be a stepping stone to become rich. Everyone can invest, but not everyone can become rich. Its because scam is existing and if you're not careful where to invest your money then you might lose it. Thus knowledge is important before investing, because having a capital to use is not only the basis if how much return you'll get, remember you have to be wise too.
Nevertheless, there's no assurance that you'll succeed or become rich if you invest but you will never know the result unless you try. But its better to invest your money rather than letting it sleep in the bank.
It will depend on what they choose to use as their investment.Nevertheless, there's no assurance that you'll succeed or become rich if you invest but you will never know the result unless you try. But its better to invest your money rather than letting it sleep in the bank.
Today many investment programs offer high returns and many people do not think that investments have a period before they can profit.
They just think if I invest in this program, I will get a lot of money in no time.
It doesn't necessarily go well, especially if they can't get the investment right.
But investing is one avenue that can lead to future wealth and bitcoin is a great example of investing.
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