Post
Topic
Board Economics
Re: What are some financial secrets that you know of?
by
Frankolala
on 21/07/2023, 09:31:51 UTC
There's no secret.

1. Have a job with good salary.
2. Don't save, instead of invest your money.
3. Avoid spend your money for unnecessary thing e.g. expensive food, cloth, entertain etc.

That's all, I'm sure the next 10-20 years you will become rich.

The reason why many people can't become rich are because they can't follow the three requirements I mentioned above. Most of people work in low or minimum salary job, most of people can't take risk, most of people want to impress other people and want to entertain themselves.
Hmmm. I see,you must be a rich person from the way you stated this with assurance. At some point I stopped reading and have a thought of your three steps towards successful and number three was very cool with me. To be successful in life is not easy because one must be discipline, committed and have positive thoughts towards his goals.

I see that presently,bitcoin investment is the only investment that you can be sure of good profit from if you invest in a long term because of its volatile nature and it is also inflation resistance. The problem of other businesses is that they are been affected by inflation and maybe some change in government policies. Buy a good number of bitcoin and hodli for 8yrs,don't even think of taking profit because when you start a business,you don't start spending money from the business. What i mean is that your are to make availability for emergency funds, so that you don't go and take money from your new business.

All these will lead to failure of the business. Allow your business to grow for some period of time and when high profits have started coming out,you can take little from it.  That's is how you go with your bitcoin journey after that,you can diversify into other physical businesses.