Topic: Wealthy people want profit without much of liabilities so you should follow them - page 2. (Read 298 times)

Well for me there are two types of wealthy people one of them loves a lavish and luxurious lifestyle with super car collections, yacht, private jets, expensive watches, bags, shoes, and anything that is a liability and the other type of rich people are those that focuses more on investing assets like real estate, precious metals, cryptocurrencies and any other assets decentralized or centralized. It is actually up to us whom we follow but for me I prefer the one that acquires more and more assets.

But it won't be a physical home that you can live in or rent out. Housing will always be in demand, but the paper for a house is already in doubt. This is only suitable for assembling an origami house.

Why buy a surrogate if you can own bitcoin itself? Repeating the same steps that the wealthy people have doesn't mean that you will become wealth too. Use your head.

I also have "nothing or any liabilities", but this is hardly due to the desire to avoid trouble.

"Wealthy people want profit without much of liabilities so you should follow them" - I believe that the desire to make a profit without any obligations is a whim not only of the wealthy people, but of all people in general. This is most evident among lazy and not smart people. The trouble is that profit always comes with obligations and it is always necessary to make efforts to obtain it, and not sit idly by.

Just as Earn on Victor said, it's not the abilities of the status quo rich people to make more profit but the capability. If we start analyzing critically, these people do not have more intelligence than the status quo, but they only have an admirable opportunity that we all wish to have. Most inherited capacity from ancestors, so does that show they are better than others? No, they only got privileges to do more.

Back to the discussion, I don't see much to learn from status quo rich people because they don't have the gods to take action, if not from the hands of a behind-the-scenes team that tries to put them together.

This set of people invests in things that status quo poor or middle-class citizens invest in, but what makes the difference is the high ratio of return as a result of high capacity, so if calculated properly, it is not that they like to invest in less liability, but they seem to have reduced these taxes because of their status.

I can tell you for free that this is biased based on your location. Most of the assets you categorized as liabilities can be the very best investment you have made, like I said, based on your location.
Most times, from my location, people who even invested in real estate and cars are way more successful than those who invested in other things. If you have business and it's facilitated by movement, then cars will be the best investment so far because they will reduce the cost of your spending (taxation) rather than increase it. etc I wouldn't like to argue much, but this is just the tip of the iceberg as an example.

Lol, you know you have only one life to live, right? By owning nothing, you're just hurting yourself by trying to pose it as an avoidance of taxation. If you have the money to buy something, then get it for yourself. Stop stressing your entire life trying to impress yourself with a lack of proper care.
Even the status quo rich (wealthy) people you admire to be like have so-called liabilities in their possessions.

It's not only the knowledge the poor won't surround themselves with. Thus no chance of getting a break.

You need to know a little and surround yourself with people who manage companies.

It's definitely not that easy.

Yes you are correct
Rich slowly and secretly exit from bad debt markets into more solid cryptocurrency...but poor stay poor because he don't want to learn or study the real knowledge.

There are some things that I feel are reasonable in terms of legal issues within the scope of my own use. With some tax regulations, I think there are some ways to avoid having to pay the fees that we are entitled to. Hearing a lot on news sites is valid. But I don't completely support that, because I also have experience in many different countries, so if you look at the economy in a strong country with a weak economy, the tax issue is probably easy to deal with. But how rich people use their money is a personal story, like do you want people to know how much money you have? Fairness or injustice depends on whether we can adapt to that framework, and of course, there is really nothing perfect according to the crowd's standards. When there is something that conflicts with people's opinions, people will reveal the hidden nature quite clearly. Owning any asset will correspond to their responsibilities, so I think it's not too important how someone operates will be everyone's practice. Anyway, it's just for reference.

I don't get why OP was saying the rich don't like to own things because of taxes. That's not true at all. The rich own more things. They own more assets and they even pay taxes for things that are even liabilities.
It's not like others do not want to own assets, but they do not have the means to buy.

Where it becomes a problem for the poor is having a property that you pay taxes on that's not an asset. I'm not saying we should only have assets as that is not possible, but try to get money from any expensive thing you're buying so that thing doesn't become a liability.
For instance, what's the point of buying a phone worth over $1000 if you don't make any money directly or indirectly with the phone?

irresponsible money printing? A recipe for inflation and a direct hit to our wallets. The rich? They're agile, transferring assets to avoid economic bullets. Real estate, though a good investment, requires a lot of upkeep and taxes. Why bother when there's a better play?

Bitcoin ETFs can evolve. Yes, the move from traditional assets to Bitcoin is strategic, not a trend. When the BTC ETF launched in Toronto, smart investors flocked toward it, leaving real estate in a slump. Strategic financial evolution - not a coincidence. Bitcoin provides a safe haven with minimum maintenance, limited costs, and inflation protection. The message? Without considering Bitcoin, you're missing a tremendous opportunity to safeguard and build your capital.

Yeah right, I mean who doesn't want to get rich? We all want to get better but maybe it's true, not everyone will be equal even if they have the same wants in life. Just like your perspective, You don't want to follow them but you want to adopt their positive mindset in life in order to achieve your own goals and wants.

It annoys me when people give the rich one special peculiarity or make it sound as if they are one better version of a human being, No, they are not, they are only privileged. And for the record, the poor think and work harder than them. Even among these rich people, only a few plan so well on their own, people plan for them especially if they have a good team. It is the idea of the team that helps most of them to keep growing and running their businesses and luxury lifestyles, not that all the ideas primarily come from the rich. And guess what? Those who you do not think of or that you might consider the low class people are the ones they derive these ideas from, so what is so special about the rich?

What makes the rich look special? They have money and resources (human and others), so they use these resources to think and achieve their goals. When it comes to investment, it doesn't segregate, it is for the poor and rich, but it is people who do the segregation and peculiarity. I know a lot of ordinary people investing and doing side hustles to reduce the effect of inflation and make more money. The worst is for the rich to invest more and the poor to invest little due to their capabilities. For this, they always believe the rich are better, which is not the case. It is only the difference in resources. If you see how the poor and average people are planning their lives too, they do it well even with their limited resources, and they are now reducing the effect of inflation with investments of many sorts. And of course, there is no way the investment of the rich will not outstand that of the poor, and so is the return since they have more money to spare. This is how I see it.

Where do you live? Do you sleep under a bridge? Even if you pay rent for an apartment, the owner of the apartment calculates the taxes over this apartment in your rent. Assets are being taxed, not liabilities. Real estate property is being considered an asset, not a liability.
The maintenance costs for the liabilities are being deducted from the taxes(in most countries around the world). That's why many rich people get loans in order to buy an asset. The interest rate for the loans gets deducted from their taxes.
I don't know what impact the Bitcoin ETF approval will have over the real estate markets, but I don't think that it would cause the real estate prices to go down. 

First time i am hearing that a Bitcoin ETF has been approved before and it was in Canada Ontario. So perhaps i have been getting it all wrong. Bitcoin ETF can be approved in other countries if am not mistaken but in the United States, eight firms have tried without success since 2013 to create a bitcoin ETF, according to my research. Perhaps they are skeptical in granting any Bitcoin ETF in the United States. The reasons are kind of deep, because the United State has great influence and of Bitcoin ETF is approved there, the investors would have a big influence on the Bitcoin market. They may have control of the entire market and regulate the price.

Everyone will choose to be rich. But not many end up becoming rich. Becoming a rich person is not as easy as imagined because they can work harder and smarter than other people. They are able to use all their abilities to achieve their goals.

And that means we have to change our mindset so that it can be in line. Rich people have a lot of assets. But for the initial stage, we must avoid having debt. That is what prevents us from becoming rich.

Apart from that, having bitcoin can prevent us from unnecessary costs. So we only spend money on things we really need. And we also pay the taxes.

I don't think I need to follow the rich people; maybe the only thing I can adopt from the rich is the positive mindset they have. Maybe that's all.
Although rich people also have a big impact on a business that they enter into, it has an even greater impact on raising an investment that they will make.

For example, once Blackrock is approved in the Bitcoin spot ETF, it is for sure that Blackrock will buy a huge amount of bitcoin, which most crypto communities expect to be more than 100,000 dollars each in the next year, especially during the bull season.

Although I have also studied the mindset of rich people. But honestly, after I researched further, the answer is that people who think like what the OP said are only rich middle class people. And now try to look at the wealth of Blackrock and the big companies and people in it. Do they own real estate? The answer is of course even very much. Next is whether Blackrock will buy bitcoin for its Bitcoin ETF. The answer is of course. So I think the mindset of rich people who are in the highest class is that they want to have everything. Paying taxes is not a problem for them because they can earn more from every asset they own.
Like they bought bitcoin or Real Estate not to hold it and they just let it sit. But they buy each asset to turn it around and make it another source of income for their business.

So do you choose to be rich, middle class or upper class?

Rich people also have their own levels. So try to learn again about the mindset of each level. So we won't be fooled.

But don't you need a lot of money to be able to afford that? Because that's like owning multiple properties and then you'll be paying for their maintenance. And it's really something that I don't know so I would probably just stick to what I know which is bitcoin investing, I have a pretty decent lifestyle so I don't really care too much making more money unless I know what to do.

REIT funds are suitable for the category of medium-sized investors, as their investments are not sufficient to purchase residential units and they do not want to go through the headache of renting and following up on tenants. Therefore, these funds represent a good point where they can obtain technical support from people in the market and ensure portfolio growth with relatively low taxes and easy liquidation. But the rich They don't use it because they are looking for assets more than value.

We all know that recless money printing and inflation will cause more taxes also higher property taxes.
Rich people knows to hold properties it's a liability the maitance and taxes it's a extra burden and stress.
Instead of owning the single House or building you can just invest in REIT.
I see now there is plan to lower rates and give to the middle-class opportunity to get properties with cheap price and with attractive mortgage rates.
That's how the rich ones get out of the upcoming tax burdens and Extra liabilities and responsebilities.
Now they waiting btc ETF once approved they can allocate  a lot funds from their real estate funds into cryptocurrency Market by using ETF.
When Canada Toronto BTC ETF was approved than a lot real estate investors invested in btc etf their capital and large part of Toronto real estate market was falling lower.
If you can see all the correlation than everything make sense.

If you invest in btc or crypto sure it's a asset and by default with the assets properties there is maitance expenses......but you keep your assets "maintance"cost under control If you do invest by dca % to averaging down.

But one thing for sure people specially the real estate and even CAR owners will be burdened with a lot taxes and liabilities by the goverments around the world.
That's why i stay out of trouble by not allmost owning nothing or any liabilities on my name as possible.