Quote from: lienfaye on December 20, 2021, 12:52:14 AM

Quote from: Voxo2222 on December 13, 2021, 04:49:49 PM

They borrow money to buy assets before bull run
They use borrowed money to make more money.
If u dont learn how to use DEbt to create wealth then u stay poor all ur life.

Well, this is only applicable to people who already have experience on investing, know what they're doing and aware of the risk associated with it. Taking a loan has an interest and if you're someone who dont have anything to lean on or dont have any assets to offer incase something went wrong with your investment then you're doomed. Rich people are making money for being knowledgeable and wise on what they do, thus taking a loan is just a basic for them to make money or to expand their business/wealth.

Thus if you're trying to copy what wealthy people do, make sure to know the consequences of your actions. Because it is still not advisable to take loan regardless on your plan for it to make more money.

This is something that is not mentioned by the OP, they seem to think that the reason other people are not having the same success as rich people is simply the difference on the money they have and as such a loan will help with that.

But they have it backwards, the difference in income is the result of a difference in skill, rich people have a lot of skills when it comes to money that most people do not have, this means they can use their resources in a more effective way and this is what produces the massive differences in income we see, which is why it does not matter how much money you could give to someone, they will eventually become poor again as they do not know how to manage that money.