Topic: Never expect you to be rich without investment - page 2. (Read 636 times)

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.

Investing is not just a way to become rich, but investing is opportunity for us to become rich. We do business in any field, knowledge and money are two necessary and sufficient conditions to determine our success. If you do not have knowledge, your investment is like gambling, with knowledge without money, it is very difficult for you to become rich.
Risk is always around us, you want to become rich, you must first take risks.

Investment is really not all about cryptocurrency like Bitcoin and the rest of them, there are so many other ways that you can also be an investor, you can even invest in yourself. There are people who can get rich by being self employed, because there are so many businesses that you can get yourself involved in and you’ll be able to make a lot of money from it. Even freelancers these days who are self employed are making so much money from it, by working on upwork.com Fiverr.com and the rest of them, and even owning platforms. So, there are so many ways that investments can be done, and it’s not just all about stocks and crypto currencies.

That is what people are mistaking the startup world, or starting a business world. If you are 20 years old, and spend 1 hour on a business per day on average (could skip a day and do 2 hours next day type of deal) that's 365 hours put into a work. If you do not idle, and actually do work, then 365 hours is enough to see if a business could make money or not. If you do not stop working, and if you do not stop because it is not making any money before that time is up, you can decide if that business is for you or not.

If you start doing that at 20, you have maybe like 40 years until you are 60 and 40 different business chances. At which point you could just retire if it didn't work out. So, you can test 40 different jobs with 365 hours put into each of them while also having a regular job like everyone else. Not a bad method, could be done starting at 50 years old as well, just less chances to try but more experience and probably more money to start.

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.

Getting rich requires investment, though like many say here "it's risky" but then, think about this, is our every day life not risky?

-Sleeping is risky (many I know have died in their sleep) cus there's no guarantee you would wake up the next day, but we still sleep, Infact, some of us love it so much.
-Driving is risky (many I know have died in motor accidents) cus even your motor driving expertise does not guarantee you safety or protection against accidents, but we still drive, Infact, motor accidents that occur every day has not reduced the number of driver on the road.
-Even Walking on the street is risky (I know many that been knocked down by vehicles and killed on the spot while having a walk on the street) but yet, we still take that walk every day.
-Cooking is risky cus you stand a chance of getting burnt by fire or hot pot or getting cut by a kitchen knife, you even risk setting the whole kitchen ablaze by making a small mistake with the gas or electric stove or plate, but we still cook in other to eat and stay alive and healthy.
-Being alive generally is a risk (cus ive seen many that all of a sudden, just slump and die on the spot) and yet, we all have not stopped living.

If we all do this things each and everyday not minding the risk involved in doing them, why then do we complain and say "investment is risky" when it is for our own good?.

If we aim for big changes in life, i think investing is the key for it. You will never be improved just by plainly working on your 8 hour day job, admit it or not, you still find it hard to make ends meet even if there is a job. So the best option for that is take the risk investing. Of course, there's always risk associated in it but somehow you can less the risk if you fall into a right investment. And once your investment works, you will have another sources for income that may push you to open new investment. Having multi investments will certainly lead you to become rich and live with your investments priceless rewards.

There is a saying that take the risk and be rich. Some people are very scared to invest and take the risk, they want to ask series of questions about risk first before taking the step. It is nice to ask about risk in business but some people won't just asking and being scared. People get scared with cryptocurrency investment alot. They feel it is a scam but more people have made it big with crypto especially during 2017 bull. Investment is certainly one way to get rich if you are not born with a silver spoon in your mouth.

It is true, you need to invest in order to "be rich". You can't work all day and be rich enough. You might think that saving money in the bank will make you rich. But that is not true. If you keep all your money in bank, in the long run, you will be losing money. Investing those money instead will give you better returns than saving it in the banks. But with those returns comes risk. So don't expect investing being risk free. The more risk you take, the higher the chance of becoming rich.

That's the truth in investments. Not all are successful but those who give up too early, they're the ones that will likely having to show others that investments doesn't work.
But those that have failed yet they have never give up and still, they're trying to make new investments. Despite the losses, they're learning from those experiences that they have and these people are the ones that are honing themselves to become a better investor.

every rich family today has someone who was poor in the past...

Don't ever be discouraged when you're still poor right now, stay optimistic, keep working smart so you can change the fate of your offspring. investing will not make someone poor, but many are lazy to invest because they are impatient with the long-term effects.

Doesnt really still have any assurance though but it is better than have nothing at all.You wouldnt know unless you do try and thats why we do need to take risk via doing investment.
I dont know on why someone expects to get rich on doing nothing? Aside from inheritance then you couldnt really get any chance on getting rich without doing investment.
So never expect for some changes if you dont really make out some action.

Of course and that is well understood by experienced investors. You can't expect to get rich on your small investment in a very short time, but remember 1 bitcoin that is worth $3,500 in 2020 has become $69K in 2021 and might be more profitable if you bought it in the early years. That's an investment even though it never guarantees wealth for everyone.

I really like this quote.

In my opinion, investment does not guarantee that we have abundant wealth, but at least if we have investment, of course our future will be a little more secure so that we do not have to work until we are old, besides choosing the right investment is the most important thing, because some people actually experience poverty when the wrong choice of investment.

It is is not a sad story as long as your friend is healthy and has a happy life. Money is not everything in life. My grandmother is 91 and I want her to become 100 rather than inherit something. Probably many people would give back their inheritance if they could spend more time with their loved ones. Same goes for having all the money in the world, but not being healthy and can't spend the money. Of course we need some money to treat ourselves and our friends and family from time to time, but having the goal of becoming a billionaire is not good in my opinion. Making billions out of $1000 sounds a bit like a Hollywood movie to me. Decent profits is one thing, but becoming a billionaire is not really realistic. If we look at all the super rich people, they didn't start out poor, they either had help from friends and family or were in one of the top universities and had a good network.

Investment is just one sector of the world economy that guarantees riches. One can still get rich by finding solutions to world problems or developing new innovations that can stand the taste of time and help reduce the tedious way of tackling those issues. Which ever way the wealth comes. The fact remains both can actually move independently

Tell your friend about bitcoin as he may be interested in investing, but make sure he knows what risks he may face from this investment. But wait, he really should find out what bitcoin is and how it works before he gets interested in investing because that is the best way to prevent him from unwanted losses.

There are several reasons why I advise you to tell your friends about bitcoin and this forum as well, and one of them is the enormous potential of bitcoin in the future. Bitcoin fluctuates all the time but this asset continues to grow stronger year after year so bitcoin investment is much more profitable than gold investment in the last 10 years. But don't ignore the risk because you won't get any return if you fail to secure the wallet and fail to manage it properly.

Investment is indeed very important, especially to prepare for the future or old age.
besides what you mentioned, gold is also the most widely used as an investment,
what is clear is that investing is not an easy thing and we must be really serious by trying to learn everything related to investment

Your friend was absolutely right and this topic reminds me of one Warren Buffett quote which is my favorite it says "if you don't find a way to make money while you sleep, you'll work till you die."
Technically he was talking about investing money in something that will generate betterment now and in the future.

I don't agree with you about people investing in an investment they like cause it is not every investment that's profitable.

From century to century, assets are the best profitable investment but the investor needs to understand the market or seek professional advice you making an investment in it.

That is also not true, you'll remain poor later if you arem't able to manage the inheritance of wealth. As the saying goes, "keeping is harder than gaining". Interpreting investment here depends on one's needs to achieve the standard of "wealth" respectively. Since inheritance of wealth is only one of social privileges, even if you aren't in that circle you'll adapt to your own and will be more motivated to reach higher levels to equalize them.