Topic: Reason why you will never become rich - page 3. (Read 1219 times)

Lolz, the first one definitely sounds like me. I think this is a pretty close life situation for every common man on the earth irrespective of their geolocation/country. I mean if I am supposed to feed my family, and look after their health, dreams, and desires then yeah I am ending most of the salary on it and thus making it look like what's being explained in the OP. This is what happens to me always. This is why I am working more, having multiple income sources and, basically a bunch of things. But do you know what does that mean? It doesn't mean I am going to be rich soon or the other way around because that is still not enough. I am more or less just living the normal dream and sustaining life. This is definitely a result of inflation, the ever-growing costly affairs of government, infrastructure, and the hard life.

Change here is very important and we need to understand the reason why until we make changes to the usual ways of our life things may not really change well for good, it all begins with things we are passionate about, work towards excellence and be determined for perfection in all things, when we give a new approach to how we think and reason, things will definitely change for us in our business, career and life as a whole.

Would you say a car is a liability? I use the car for logistics services and I know quite well that it will depreciate in value five years from now. So, how would you classify this- a liability because it will depreciate in value in the coming years or an asset because it will increase my company's revenue in the coming years?

As for investing I agree that it increases our chances of getting rich, but I can't understand what you are saying, what does not having to work hard to help the family and ignoring the family make us rich? I think helping our family will not make us poor. If we can help our family then we help according to our ability, right?.
If we ignore our family in my opinion it gives the impression that we are someone who is better than our other families. In my opinion people who are calculating with their own biological family will not be able to establish connections or communicate with other people because it is clear that this is selfish and selfish.
If we have a succes business, how can a colleague or business partner look good on us if we just ignore our family?.

The ability to distinguish between assets and liabilities is very important, but not everyone can do it. For example, many people consider real estate an asset, even if it does not bring them any profit, but they believe that one day if they want, they can sell it for more and therefore it is an asset. But it may not rise in price, but rather fall in price, this often happens if the house is not taken care of properly. And the one who creates assets that can make a profit on a monthly basis can become rich, and the more such assets there are, the greater will be the profit.

My first book I read on the subject of finance was Robert Kiyosaki's book "Rich Dad, Poor Dad". And let it seem very simple now, and the truths spoken in it are obvious. But then this book just shocked me. I learned what assets are and what liabilities are, for example, a car can be both an asset and a liability, it all depends on whether you provide taxi services on it.
But all knowledge does not make sense if there is no deposit in order to make a lot of money out of it. And the problem is that a permanent job does not bring a lot of income, the salary from it barely provides for the family. And it does not work out to put it on deposit. That's why most are poor. They can't even lift their heads above the water, forcing themselves to spend all their energy and time on the family.

After we are looking for people who are experienced in certain fields, both in business and in crypto. We ourselves also have to prepare other preparations in order to be able to carry out the suggestions given by these experienced people and also adapt them to the expertise we already have. Because almost everyone living in this world needs other people to get up, whether it's getting up from the bottom in the business sector or getting up from the bottom by learning about crypto trading and investment. The point is that experience will always be needed because it is part of basic knowledge.

The different language placement of the two examples we are trying to discuss can prevent someone from getting richer. So what if people don't have money to allocate to savings, investments or running a business? These are two different and very foolish examples when people with more financial means are unable to allocate their money towards investments, savings or business.

I agree with the point of the value of money that we have in five years, when the money is saved and even though it is not used it is also unproductive because its value does not change or it may decrease. It's different when the money is used for investments that can maintain the value of the currency or try to develop a business that can be developed, this is where the ability to recognize a good investment or make a review of the business you want to run.

I agree with your points of explanation, we often hear the term "experience is the best teacher for success" meaning that personal experience or other people's experience will move the steps towards success, so we must seek work experience according to expertise or discuss your expertise with experienced people then they will suggest some steps based on their previous business building experience. However, if we want to get rich from trading or investing in crypto then look for people who have experience with good analysis skills on the potential of the crypto market, we must prioritize someone who analyzes top coins and they have steps to minimize the risk of loss.

For me, family is the trigger and driving force for my enthusiasm in building my finances in a better direction. I have fallen and my family is still beside me. And then now I have returned to be better financially and all of that also thanks to the moral and emotional support from my family. Who continues to support me and help me in everything. Be it material or emotional. And I don't like to think of a family as a burden. But I prefer to think of my family as my motivation to work harder and get better and better.

And don't worry, because our families also have their own businesses. So that we don't need to feel too responsible for everything about the family. But we must always be there for our families when they need us. Because they will also be there for us when we need them.

The most important thing that we must fight against in order to become rich is to avoid being lazy and wasting time. namely in a way we must always make the best use of time. Be productive all the time and manage your finances well. Keep prioritizing primary needs and only buying secondary needs within certain limits.

I also agree that saving will not make us rich. And it is true that it is investment that can grow our wealth and make us rich. It's just that what we need to underline here is that we have to invest in fields that we are good at and we have seen the potential and risks well. Don't just rely on speculation without fundamentals. We still have to look at the fundamentals and then the potential.

Luck is the wild card that makes things easier.  But without luck, I also agree that there are more factors that can contribute to one success.  This factor is the more sure ball thing than relying on luck.  Factors like being knowledgeable, passionate, smart, hardworking, contacts, and people and financial management can outperform luck in terms of securing wealth during our business and getting rich endeavors.

I agree with your opinion, @Fredomago. Despite the fact that luck is not the only thing that makes people rich, we know that hard work, decision-making, determination, persistence, and passion are all drives to success, just like you said. Some people take advice from the wrong person, which is why they don't also make progress along the way. Like you said, if one attaches himself or herself to someone who has already achieved success, there's likely a possibility that they can learn from the person and gain some good will from the person. Example: If someone who runs a milk production company is going to take advice from someone who has no experience in milk production, obviously he might not get the best advice from the person.

Sorry for that, it should have something that on my own point of view, and not in general, like what you have said there's no written rules in terms of anyone who can attain that luxurious life, just on my own interpretation that becoming rich is not for everyone. Thank you for pointing at that one.

On point, the wrong choice of business or investment affects you financially. Failing means losing your money that reflects to your financial capabilities.

I don't agree with this, your first point at least.
If you're talking about extended family and distant family members then I might understand, but if you're including your immediate family, your brothers, sisters, cousins, nephews, and nieces close to you, then I don't agree.
Sitting by and watching your "loved ones" suffer for something you can help them with is on a different level of selfishness. "
What's the point of the bread if my niggas can't eat". That's what J. Cole said in "Middle Child". If you can't help out with the little you have you most certainly can't help with your millions of dollars. If everybody in the world waited till they were financially stable before they could help people out then there will be very little help in this world.

They don't have to be dependent on you. Nah, that's not what I meant, but you should be able to help them out every once in a while when they need help that you can give. And it doesn't have to be just your family members, your friends too.
If a close friend of yours is in need, help him out my man, provided you can provide that help.

People always want others to make sacrifices for them, but nobody's willing to make sacrifices for others. We can't keep leaving like that. I'm yet to see a wealthy man that said the reason he's rich today is because he cut his family off.
People like you are the people that will complain if a rich person doesn't give back to the community.

In fact, to succeed and become rich requires a lot of factors combined and in the journey to find that wealth, there will also be many challenges. Each person will have a different situation, so there will be different challenges, no one is the same, but there is a common formula to overcome all that is never to give up or stop every time you stumble.
As we grow up, there will be hundreds of problems to worry about and deal with in life, but if we don't give in to the difficulties, face all the challenges and find a way to solve them, we will be rewarded one day. Don't just blame others when we have difficulty or failure, instead, find a way to overcome it.

I like how you are able to point out what OP failed to include in their post. It is the reality, it is within ourselves. We need to grow and learn, which means going through obstacles in life and learning from it despite the outside factors that are affecting our financial status. Yes, there are various aspects that are influencing  the rise and fall of our financial journey but if you do not do anything about it and not find a way around it then that is when you know you'll never get rich.

It's quite normal to help our family. However if your siblings (and other members) are already grown up, can work on their own, then it's time to remove yourself in the picture as their breadwinner. Because if you don't change what they used to, you can't focus on yourself since you're always connected to your family even they're not your responsibility. It's good to help but let them learn how to earn by working hard so they can feed themselves.

A person with a goal of becoming rich knows how to manage his finances and aware what things are worthy to buy. Saving and investing are part of the process, the result depends how determine and wise you are to know when to spend, save and invest.

There are number of reasons why some people never get rich or achieve significant wealth. These factors include, socioeconomic back ground, lack of education and skills, no investment knowledge, but the main factor that determines the success or failure in our lives is mindset and beliefs. It is crucial to cultivate positive attitude towards the challenges we face in our daily life. By doing so we can transform hardship into opportunities and reap the benefits they offer including building wealth and prosperity.

We cant really make out some judgment into those people who are really that having the plans on having no family on which they would really be definitely knows and aware about those conditions or situations on the time that they would get old on which there would be no one would be inheriting all of the money that they worked hard for but well its their own choice to make but in general sense which it is really that hard if you dont have family. Yes, you do have the richness but the feeling of contentment wont really be there because you are really that having able to spend your money on something. We know that love cant be bought
and this is why when it comes to materials in the world then you would be finding yourself that capable on buying everything but not all would really be able for you to do so.

We do have different decisions in life on which there might be some decisions which do really look like good but there would be always criticisms.

On the point where you mentioned that, becoming rich isn’t something for everyone; I am wondering why the hell not! Like is there an under written rule that forbids certain people or group from being any rich? Surely, I question the existence of any but, over time I’ve also heard of people who seem to have sort out for wealth haven’t tried several means and often ends up failing. Even the once rich once goes broke and poor at times. They had all the experience to run a business and did great but, all of a sudden, they find themselves failing in business.

On this, you start to hear fray and diabolical things that could relate. I for one don’t do much believe there could turn any effect from these unseen forces but, could it actually be a course to some bad business or investment choices.