This is one of the best of comments in this thread in the sense that each of us should be attempting to assess our own situations in terms of our financial and psychological circumstances in such a way that we are striving to build, so that with the passage of time we are more likely than not to incrementally improve our circumstances and those incremental improvements are more likely to capitalize upon themselves - even if we are likely to run into quite a few set-backs (and mistakes) along the way. Getting rich and being rich is not likely a categorical location but a journey that we can strive to reach and we may or may not end up reaching the most lofty of our goals, but if we are working towards that direction (without over doing it, hopefully), then it is more likely that we will increasingly be putting ourselves into better situations with the passage of time.. and with the more passage of time, the more measurable the ups and downs end up showing themselves to be trajectoring in the upwards direction.
Anyone can get out of the problem at hand, because one's success will depend on oneself.
I would not want to proclaim that "anyone" can get out of his/her problem of being poor or maybe what various kinds of handicaps and obstacles that s/he might have in terms of his/her situation that s/he was born into or the situation that s/he had gotten him/herself into (or arrived at) up until this point in his/her life, and of course, part of the reason for my own hesitancies in this direction comes from recognizing and acknowledging that there are no guarantees in life - even when we might do everything right, we still might end up having negative results.
Nonetheless, no way do I believe that attempts to improve one's lot in life should not be attempted, and even to recognize that some situations are more difficult than others to achieve such improvements - and it is quite likely that the odds of improving most circumstances will be improved by making targeted efforts towards trying to make the circumstances better.
To get there we must know what needs to be done before making decisions to improve circumstances and improvements in our lives. By identifying before taking life-changing action, we can easily make decisions that are relevant and on target.
Exactly. Having focus and being focused on the right kinds of actions might be easier said than done, but each of us does have to figure out ways to attempt to be practical and attempt to be focusing on the kinds of actions that will improve our likelihood of making progress towards achieving our objectives, and frequently if we are able to concretely describe our objectives in realistic terms, then we would be in a better position to make progress towards our objectives.
Maybe I can attempt to be more concrete regarding what I am attempting to describe by providing a hypothetical, and personally, I have my doubts in regards to their being any meaningful differences between how poor people and rich people are, but surely there are real life obstacles that poor people are going to have and there are real life advantages that rich people are going to have, including how rich people might be taught by parents and other influential people in their surroundings.. and even being around other kids who are rich and well resourced will influence a rich kid in ways that are likely more advantaged than poor kids and the friends and people that are around the poor kid.. who are creating additional obstacles for the poor kid.
In this hypothetical, let's say that a poor person who is his early 20s has aspirations to get to “fuck you” status within 20 to 30 years, and the poor person defines fuck you status in terms of getting to about $2 million dollars in net asset value, and if that same person ONLY has an income of around $10k per year, s/he may well ONLY be able to save invest about $1k per year (10% of the annual income), so it may well end up being quite difficult for such poor person to realistically be able to get to $2million in networth within 20 to 30 years, so such poor person may well have to create some intermediate goals to either increase his income or to cut his expenses in order that he will be able to save more than $1k per year – because even if he were to save $30k in 30 years (at $1k year), such investment would have to go up by at least 66x ($2 million / $30k) in order for the investment to reach $2million in value at the end of 30 years.
Such person might consider their goal to be quite difficult to reach, but like I said if such person keeps making intermediate goals and potentially improving his situation, he may well be able to figure out ways to make greater progress on a quicker timeline or even to be able to exceed the goal.. but at least he has an outline regarding a potentially reasonably to get started on working towards reaching the longer term goal with intermediate goals along the way.
An intermediate goal might involve investing into bitcoin, and maybe consider starting out by investing $19 per week into bitcoin (that is $1k per year / 52 weeks), and again working on creating circumstance in which there will be enough room in the budget to be able to increase that $19 per week to a higher amount.
Being rich is not a requirement, but almost all individuals in this world want a decent and stable life.
If a guy starts out poor and not having any assets, like in my above example, as he is making progress towards becoming more rich by building and building up to attempting to reach $2million in networth, even if he does not meet his initial goal of reaching the $2million, he can still likely feel way more empowered along the way of attempting to reach the goal.. because he is building up his wealth, and the fact that he has created wealth for himself, he can see that he has way more options than he had in the beginning, and he has flexibility to adjust his goals along the way and to still be happy. No one is locked in or enslaved to goals that they set for themselves in their early 20s – even though their having had worked towards the goal still is likely to have put them into a better position, even if they do not reach the goals as they had initially been set.
To me, it seems good to create goals when younger that are further along in life that might not be easy to achieve, but a path has been created that still may well open other opportunities along the way by working within reaching intermediate goals that are initially meant to be within that path. If you have no goals, or if your goals are either too difficult or too easy, then the goals are not going to really help in guiding towards making progress.
Some people perceive that wealth can bring happiness and peace in life. But if we examine it more deeply, the happiness and serenity of life lies not in how much wealth we have, but in being grateful for what we already have.
You are not going to get any argument from me regarding that point. It is quite possible to have multiple goals in life and to be happy in regards to working towards goals and even having hobbies and fun activities along the way.
At the same time, there are no guarantees that in the long run that we will trajector our financial and psychological circumstances in the upwards direction with the passage of time, yet it seems that if we are striving to learn from our mistakes and to NOT be too radical in terms of taking too many risks (taking some risks is likely a good thing as long as we either place ourselves in a position to take risks or assess ourselves to be in a position to be able to tolerate the risks).
Basically, anyone has ever made a mistake, someone made a mistake more dominantly because they didn't know or had never had experience doing certain things. In this position we must think wisely, what is needed is action to do something so that the same mistake does not occur. Instead of regretting what keeps us in the shadow of past mistakes for too long, it's better to use those mistakes as learning and experience.
Almost no matter what, we are going to make mistakes, and maybe this is part of the areas in which rich guys might have more resources than poor guys and be able to tap into their resources, whether it is getting advice before making the mistakes or advice regarding how to get out of the mistakes, and surely some folks without resources might struggle to figure out the path and might even end up relying on bad advice too..
For sure some folks are more self-resourceful and self-sufficient than other folks, but still without being able to sort through good and bad models, it can be quite possible that very smart people can still make mistakes that are very difficult to reverse… and may well not even be able to appreciate how bad their mistake is until it becomes quite difficult to either dig out of the hole or to end up having to start at very big disadvantages.. because they do not realize that they are spending their time in ways that are non-productive, counter productive and/or very under productive.
Each of us will be limited in terms of what we are able to achieve, and surely some folks are going to have advantages over us, so we may or may not be able to catch up financially or psychologically to some folks who are advantaged over us, but it does not seem healthy to necessarily be competing against others in any kind of obsessive way - but at the same time, it is good to set goals to be able to measure progress whether we are measuring against ourselves in various ways and/or comparing to others in the sense that sometimes we can get some better senses of progress if we are engaging in some healthy comparisons.
The level of knowledge of a person in a particular field is always different, we do not need to force ourselves to achieve what others have obtained, this is also related to the peace of life. When we push ourselves too much to be like other people, this is where our weakness lies.
I doubt that there is any one path, and of course, each of us has talents that are different from one another and we have interests that are different from one another too. Some talents are very marketable and others are not very marketable. Sometimes there are opportunities to get one’s foot in the door of some opportunity and/or training and some of those opportunities might be available when in our 20s, but might no longer be available at later times in life, and sure no one has to necessarily fit within any kind of cookie-cutter.. but if there is any kind of preference to be able to receive some benefits from others such as being given an opportunity to train, work and/or get experience, you may well not get such offer of opportunity if you do not fit some kind of expectation of the person who is possibly going to make the offer.
Whatever we want to achieve is based on the ability we have to achieve life goals. There is no need to make comparisons with others, because we can never be someone else and vice versa.
It’s good to be measuring with our own standards, but sometimes we do need to have some comparison points, so I can see that sometimes it might be helpful to be looking at what others are doing in order to keep ourselves in check in terms of our trying to be realistic.
I think the most important thing and distinguishes Rich Mindset and Poor Mindset is the courage to take risks, Poor Mindset always performs an analysis and comparison but does not dare to take risks because they always read the failed story, FUDS and so on, while Rich Mindset does not care about how much risk.
Personally, I believe that both rich and poor will need to account for risks, and to measure risks, but surely each person has to measure risks in terms of what kinds of assets and/or individual resources that s/he has available. If someone hardly has any assets or resources, then it is harder to take risks until building up some resources.
Of course, anyone who is born healthy comes with a natural resource of having a lot of time compared with someone who might be borne with a genetic defect or various handicaps, but the resource of having a lot of time is going to work against us if we spend it badly.. even though someone who is young and healthy can leverage (and/or risk his/her time aspect, even if s/he might not have finances).. so richness comes in a variety of ways, and surely in this thread we are referring to financial richness or perhaps being able to reach and/or sustain financial richness, which is not an automatic thing that will be able to be maintained, even for someone who might start out with more financial richness than others.
I think the most important thing and distinguishes Rich Mindset and Poor Mindset is the courage to take risks, Poor Mindset always performs an analysis and comparison but does not dare to take risks because they always read the failed story, FUDS and so on, while Rich Mindset does not care about how much risk.
And then there are ungly minds - have you ever had a chance to meet ugly and sick minds
I recently encounted one!
Some people do become disgruntled. .and sometimes such disgruntledness comes at a very early age.
