Topic: Reason why you will never become rich - page 2. (Read 1230 times)

It's totally depend upon our needs and our interests where we are spending our money. Most of the time people use to spend money on stuff that actually they don't want. Last time what happen to my friend is we were roaming around shopping mall, casually he was checking watches but while going in his hand in carry bag there was an expensive watch which he don't have need in that time. This kind of habit never let you become rich. And yes one more thing people never become rich with one income source.

Right. And the funny thing is that Robert Kiyosaki in the book constantly advises investing assets in real estate, he repeats this phrase many times. As far as I know, the book was published in 1997, and I'm sure many followed the author's advice. And in general, I have also always considered the real estate market to be quite reliable. But only in 2007 there was a mortgage crisis, because of which all real estate in the United States, for example, fell in price by 23 percent. Therefore, those who had previously invested in real estate on Robert's advice became much poorer. He is also a bad adviser, so during the formation of bitcoin, Kiyosaki absolutely did not take this technology seriously.

Facts at this time are so, many people waste time and money for things that are not productive, the presence of the internet makes it easy for us to find anything, as long as we want to learn of course we can succeed in the future.

It is commonly said that all work and no play makes jack a dull boy , personally, i do not see or consider personal or temporary pleasure as a good enough reason why anybody will not succeed, it all depends on the individual's character and attitude towards his financial life or aspect of his or her life.
While working, its never a crime to from time to time, take some time off to rest and do whatever make you happy aside work, this will not keep you away from succeeding except you are the type that never bother about tomorrow and investing, but rather spend every thing you have now lavishly believing tomorrow will take care of itself, such a person will find it difficult to succeed.

I think the most important factor that makes many people fail to become rich is because of the mindset, many people have a monthly salary of less than $ 1000 per month but their lifestyle is more than $ 1000, maybe he is influenced by social media so he wants to show anyone that he is rich, then he is in debt and if trouble will sell cheaply.

You are right. When I was a kid, I saw my parents financial illiteracy.They invested in things that did not give anything in return. My friend's father who was a small business owner, he built a huge empire through business. He made networks and invest in many assets that gave huge money in return monthly or in the form of equity.My father was a government employee. When he retired from his service , he had no skill and no financial knowledge. He had wasted his all time to serve country and after retirement he struggled. My brothers university fee was greater than my father and pension . Me and my whole family struggled in this phase. In comparison, my friend's father gave his sons and daughters  university fee conviently.

What I also see is that I often see people who spend their time on activities that don't produce anything they do really waste their time on temporary pleasures. It is true that investing will indeed be able to benefit, but before making an investment we must first study in what field we have to invest, after that we can plan well so that we don't experience losses in investing.

Yes, it all depends on needs. Sometimes there are people who use cars for business needs and there are also those for convenience and to save on public transportation costs, so we cannot conclude that cars are the reason, in fact I think the opposite.
In my opinion, buying something that is not useful in life, only fulfilling desires without any effect on needs or convenience is a barrier to stabilizing our economy, and that cannot be said because everyone will be different.

Before we can conclude that a car is a liability it depends on what you use the car for, some times when we use a car for business and the business is bringing a passive income that car is not a liability.

The car we should conclude as a liability is car we know the only function of the car is for a casual movement, so when you are using a car for a casual and it doesn't add any function to your weekly and monthly income I believe that it's call a casual movement, let me say in generally that car can be casual to you depends on how you use the car.

i forgot where i heard that, but they say the Chinese have a belief that taking care of their parents will increase the fortune of the children who take care of it and the money will keep coming and believe it or not, i see a lot of these words really effective for them.  i live far from my parents but i remember their sacrifice to me so i always send money to them regularly, saving is important but saving kindness to my parents is far more important, be rich because of your hard work and smart work,  don't be stingy with old parent, nature will hate you.

If you don't put in the effort to learn new things, put in some hard work, and have the belief that you can succeed in life, having the intention of succeeding won't make you successful.

If you are unable to take risks, no matter how much you believe in your plans to get wealthy, they will never materialize. In my experience, the bigger the risk taken, the greater the benefit, and vice versa.

But if you do make yourself get in trap with this kind or type of situation on which you are really that making yourself that supporting out your family and having those continuous expenses then for sure you would really be

trapping yourself on a condition on which you wont really be making see yourself on having a progress.Somehow, it cant really be that avoided that you would really be having the felling or responsibility when it comes to your family because there are really that feeling which you do need to help which it is one of the things that would hinders out your success or progress. In speaking about buying out liabilities like cars or other possessions that doesnt really appreciate when it comes to value or doesnt really generate out income then you would really be finding yourself on struggling later on, on the time that they would really be asking for some maintenances on which it would be adding up on the expenses and on the time that you are just earning sufficient then it would really be putting you on a tough situation.Just like on what most people been saying on here that it would really matter on your mindset and money management because if you arent that mindful about these things then you wont really be realizing that you are spending that much on something that you shouldnt really be spending on just because its there and you have purchased it which it would really be included into your responsibility on maintaining it of course.

Because I think 97% of success is determined by mindset, so we need to change our mindset. There are to me five reasons most people never get rich.
1. Not believing life can change.
2. Have no plans to get rich.
3. Good at making excuses.
4. Don't know financial management.
5. Have no purpose in life.

But for success, it's not just that we have a lot of money but success is when we can make other people have hope and when we already have a lot of money and can raise the hopes of many other people.

Here I completely agreed with you about this all because right now same things happening around us, and we are not doing anything positive for bringing change even we are going deepen in this all even few societies and countries are going from bad to worse just because of this all they fail to bring better changes in their system and peoples dug out with these things as like if someone can start from small investment, but he is not interested and going to buy luxurious things which are not helpful for him in long run.
Recently I have many peoples around me those are bank-corrupt due to their bad investments and having no proper strategy but once anyone is having rich he is going to have better things in life even his profit is increasing because he is doing things with the purpose of long term investment which is surely helpful for him and his all strategy.

Trues, rich person keep thinking how to make their money more increasing at the future trough investment assets and collect some property until high values assets in the future, but for poor people mindset they are trying save money in the bank and worry use it for investment fund and get increasing up later. But have some fatal mistake from poor people less knowledge with wrong investment like hype due easily earn money without harking work.

Before having much money or become rich person, need to manage well money management and good planning in the future after having money which one side worth for investment, not only in cryptocurrency many real business side profitable at the future depend manage well spent with our money.

I agrees with you, that the most prominent difference is the mindset, both in using money, managing expenses, giving abilities and increasing their life value by shaping themselves better, that is the average of the rich position themselves in all fields To be in a better position economically and his life, and on average the poor do not have a mindset about how he uses money to get more money, they use the money he has only for what he wants and makes prestige as the first order They think rather than adding their income. Poor people usually like things that make him comfortable in the zone that does not make it better, and I feel that what happens to my parents, it makes me understand why my parents are not in the best position in the economic world.

The only difference between rich and poor is thinking. The rich people invest in assets that put money in their pockets and poor people buy liabilities like they will buy motor cycle but they have not enough resource to be able to buy petrol. They buy mobil phone on monthly installments. In comparison, rich people invest in assets like they buy property that  will increase its value. Poor people spend money in things that show they are rich but in reality they are poor. Rich people invest in real assets like they buy running businesses. Poor people save currency and currency value is in control of government. Rich people invest in real money like they invest in gold that retain its value.

You don't know what's in store for you. Who doesn't want to be rich?  Admit it or not, more or less everyone aspires to be rich. There are many reasons for not being rich. Most of the people in today's age spend hours and hours watching various sports. The reason you can't get rich is because you hang out too much. One of the reasons for not being rich is laziness and lack of proper planning. If someone thinks that I am not studying or I am not able to study so I will leave my studies and do business then the first thing that will come to his mind is what people will say. Yes I agree that investing is the only easy way to get rich. Those who try to do good work to fulfill their dreams in life. They lead life by following their dreams.

I think the statement "invest in assets and not liabilities." should be more expounded. When it comes to investing, there needs to be more clarity about what constitutes an asset versus a liability. Many people mistakenly believe that buying a big house or a fancy car is an asset when in reality, these are liabilities that drain your finances.

Instead, smart investors know that actual assets generate income and appreciate in value over time. This can include things like stocks, bonds, rental properties, or even a small business. These assets can grow your wealth and secure your financial future, which we can relate to the car which I assume is acquired through loan. In a sense, it is a liability because it is an obligation of past event that will result in an outflow, but at the same time the car (asset) is giving you an inflow through using it for logistics services.

That is why, it's important to do your research and make informed decisions when it comes to investing. You'll want to weigh the potential risks and rewards of any investment opportunity and make sure that you're confident with the level of risk involved no matter will be its results.

We have to invest in the right assets not only investing for the sake of investing we can only get rich if we are financially and investment literate you are right that people are saving so they can buy stuff that they want to buy and this is not good, but we should also at all times think of saving for rainy days and to create a profitable portfolio.
People are so materialistic that they want to have the latest gadgets and what's the trending brand in clothing, if we cannot moderate our greed and expenses we can't ever be rich.