Topic: Never expect you to be rich without investment - page 3. (Read 617 times)

We are in a market where finance and economics are an important part of it. The idea of ​​wealth and investment that you mention shows me a vicious circle. Investing in knowledge, time, money, ... are all necessary things to bring personal satisfaction. Since the results we get are only part of the process of reaching our personal goals, find your own or a suitable way to reach that goal.

Isn't it never expect to become rich without taking any risks? Trying to learn something you'd want so that you can profit from it is a form of learning and investing (to yourself) at the same time. And it naturally comes with the risk of losing your time over doing something you may or may not even learn properly or may or may not actually make you earn money. Risking and investing is natural in the process of trying to do something, especially if it's an activity that you want to either be recognized or earn money from (or both).

Especially with the current state of things really, it isn't enough for just risks, you need to have an immense amount of luck or connections to actually make a name for yourself (money comes afterwards tbh).

The more we look at the problem, the more we will find our own views on wealth and investing.

But this is already large enough to contain a ton of problems of opinion in life. How rich? What is investment?

Language concepts can be misinterpreted, but I find it to be related to the process of individual choice goals.

It's impossible these days to get "rich" from just your salary without supplementing it with additional income from somewhere else. Even people with good-paying jobs wouldn't have enough left for their retirement if they just rely on their pension since the government devaluing the money eats into savings.

So basically, if you have spare money, find something to invest it in that would pay you dividends or that will appreciate in value.

No, I don't mean to just invest money without knowing what investing is.

When someone wants to invest but doesn't know what investment is, it's like throwing gold into the sea. I agree that one should know enough what an investment is and how he can manage it well to make a profit before he decides to invest, otherwise he will really face the harsh reality of his investment.

You are right, a person can still invest his brain to make a profit, but the fact is not everyone has the ability to do so because most of them only invest their energy to earn money.

A person who invests his brain for profit is someone who has a special skill so that it can benefit him. While not everyone has these skills, they do have money that may be worth investing in. I have already said, it's not just only about investing in crypto but any asset they like including gold and other physical assets that they think can make a profit in the long term. It may not guarantee wealth, but at least they've tried to do it the right way.

That's can be correct and I remember the quote of someone who said let your money for you, in the other words you should the rich people don't need to work so hard and investment is the key of success to be rich because you can earn money while you are sleeping at your home the investment can be real estate or assets like bitcoin otherwise you will need to have a job and always wait for the end of the months to get some money from your boss and hop to don't spend too much to save some money at the end of the month, however investing can be dangerous too and risk management is necessary.

Having knowledge is the richest you can get, without knowledge your money won't get you there, every rich men use hardworking to get their first payout and they use that to invest smartly that's why they get richer.

I can relate with this as I know many people around my place who doesn't know or no idea regarding investment.
I want to teach them since I'm already involved in investments but I don't see any initiative with them or I don't see that they are interested either. I think that they are just happy with what they are doing. Just work hard 8 hours a day or even most just to have some money to be used in their daily lives. Work hard and repeat with no investments at all.

Look at the rich people right now. They worked at first to have some money but aside from that, they learned how to invest in different ways. Now those rich people are invested into business and that is also an investment. I mean working without any investment at all will not make your life better that is why I'm working but at the same time investing a portion of the salary I get into different investments.

Everyone has the right to be rich, but it depends on how he collects money from every job he does and how he spends it. If he can be wise in managing his money and finding a solution to get additional income, I believe being rich is not just a dream. Many people are just looking for justifications for their situation and not looking for how to find other ways, which may be different from what other people are doing.

Like investing in crypto, with the popularity of crypto, many people are interested in giving it a try. And maybe it can be one way for everyone to invest in the digital world, and they can buy bitcoins or altcoins with small money continuously for a certain period. Investing in crypto is promising, but it depends on what coins you use, and if you or your friends only hold bitcoins, I think that should be enough.

Where there is a will, there must be a way for us. That's wise advice from my father that I continue to hold onto. Our lives will change as long as we are willing to change them for the better.

It's not just investment, it's also security.
You invest in a house you are secured until the end of your life. It's not just about the money but to have a roof above your head should be encouraged as a good investment to everyone. Others don't like that idea and do rents while waiting for their parents to die so they can own that house. It's different if you are the owner and it all came from your hardwork.
I have the same case as your friend but I didn't take that to heart. I stood up and look for a way to have a better life and there had been rough moments but I am proud about where I am now.
Invested, secured.

You know, actually you still need to work to earn money before you use it to invest. Working for money means that you try to ignore investing for whatever reason, but when you put a little money into investing, you begin to understand that money can work for you too.

Investing is the most important way to make money for us but you need to have the tools and knowledge and good investment management to be profitable. It doesn't matter if you lose after you try because even investing never guarantees everyone will make a profit. Crypto investment is one of the profitable investments and also has a high risk of loss but the benefits are worth it. You really have to weigh the risks and you should only invest in whatever you can afford to lose.

I have friends that are still employees up to date but they've got a better salary and at the same time, they're maximizing their time through owning a business. All of us have the same time to spend every day and it's up to us how we're going to be wise with it.

Crypto is the same reality as the other traditional investments. If you have little capital, don't expect that it will grow the same as the trees within a few years. That's why DCA is advisable and the early days won't be the same anymore as the coming years.

For getting rich one needs a couple of things, most important being (well used) brain/knowledge (as COOLCRYPTOVATOR said it very good here) and luck (topic insufficiently touched imho). So brain can also easily be an investment, and small "miracles" are also needed now and then.

I think that no matter how smart somebody is, luck is important. And I'm not talking about winning the lottery, no. But if one has personal problems, may not get to invest, if war strikes one may have to withdraw his money (at a loss) for survival, and these are just the easiest examples at hand. Investment is easier if afterwards the price never falls under the initial buying price (a matter of timing and luck).

Maybe I'm not the best example because I'm far from rich but at least bitcoin offers me the help to stay on positive balance (maybe I would be rich now if I wouldn't have been selling anything at all). However: most of my investment in crypto was time and knowledge (although I did invest some fiat too), I've earned crypto for various tasks, services, bounties, signatures. I was lucky to find good opportunities. I had my fair share of loses due to altcoins too (a bit of luck in better picking the moment for liquidating some of those investment would have been good). In trading (more like noobish gambling on the exchange actually) I was lucky to not lose all my money. And I was lucky (or smart enough?) to leave (most of) the altcoins behind.
All in all I was lucky to find bitcoin, trust it, find this forum. As you can see, I find luck "involved" pretty heavily. Aren't we all extremely lucky bitcoin was created during our lifetime?!

Investing fiat is the most straightforward way. But there are other ways too. Still, both a well-used brain and a pinch of luck are necessary.

I am not sure about people becoming billionaires by investing in crypto, but I'll take your word for it. The thing is, what defines what makes you rich? 100k? 1M? Billion? If we are talking about a substantial amount of millions or even a billion or more, then just investing may not be enough. That's what's spiking this false interest in crypto, that anyone and their mothers will become rich by investing just a small amount into crypto. For 99% of people that do not work. The big players invest huge amounts of money and get big returns, they have institutional connections and the know-how to spot what's good for investing and when to back out. As for people banking on being that 1% that make it out, well, that's like playing the lottery. With crypto, you could be well off, but this 'getting rich' narrative needs to be put to rest.

We ourselves have to understand about investment especially when investing in crypto where the risk of losing money is very large if we are not careful,
that's why it's important to learn first and improve knowledge as well as skills,
Never try to follow friends or other people if you really don't know

It's worth to mention investment isn't a kind of easy money, there are so many fake investment where they offer e.g send 1 to get 2 in a day. Well investment is really needed no matter old you're, keep saving few % of your wages to invest. Investment is supposed to be a money that can be used when we can't work again due to ages or even better the gains from investment can cover up daily expenses, so you'll have extra money to use for anything.

Me, when talking about these things I don't like to talk about getting rich so much as improving your economic situation.


In your friend's case, if he were thinking about improving his financial situation, he would see it differently. Anyone can improve their financial situation, following simple steps.

1) By borrowing as little as possible (for example to buy a house) and reducing/getting rid of debts, especially if they are consumer debts.
2) Saving.
3) Educating themselves about personal finance.
4) Investing.

The result of these steps in the long run is a clear improvement of the economic situation (unless you are very unlucky or something).

And investment will provide many benefits if done with proper knowledge of the investment chosen, often investors simply do investment because they follow friends or others but do not learn the investment and when it does not succeed will bring disappointment and eventually stop, so never invest in something we do not understand because it will actually be detrimental, hope to get rich from investments, but the opposite happened.

Investments must be so thought out and invested in the right direction. Otherwise, there is a possibility of losing even the last money. I do not agree that a good financial situation is impossible without some extra money. Did all rich people inherit capital from their parents? Aren't their people who stood on the brink of poverty and were able to pull themselves out of poverty?
We must always understand that strength is in us, and always every time we fall, we must be able to rise again. What does this mean? Despite the age, despite the difficulties, we must constantly develop. If we stop our development, stopping at what has already been done, from that moment we go down.
Step by step, overcoming difficulties, and after investing his money in the right business, a person becomes financially independent.

Investing is one way to get the wealth we want but unfortunately, many people invest through the wrong path.
Before starting to invest, we better find out as much information as possible to know what we should do.
It is not because we are not from a rich family with a lot of money, but it is about finding the right investment type for us.
But keep in mind that every type of investment will take time to pay off and the average person will be impatient waiting for the results.
Investing in crypto has provided ample evidence that people can earn a lot of money over time but most of them are people who can patiently hold their coins up high.