Quote from: Fortify on Today at 07:54:34 AM

Quote from: Hermez11 on July 21, 2023, 02:15:07 AM

Hey everyone. What are some of your wealth secrets that you could share with us?

Buying homes with cash and taking loans out on it?

Setting up trust funds in foreign countries and setting offshore corporations to avoid capital gains and taxation? (Sorry tax avoidance for any LEO reading this)

What are your secrets?

I think the biggest "secret" is that there is no secret. Most people got financially comfortable through a career of hard work, paying off a house and simply enjoying life along the way. Others set up a business which is much harder and more stressful, but they get to keep more of the profits along the way. It's important to learn as much about finance as possible when you're younger, read lots of different books about people who successfully traded on the stock market and it will open your eyes to the vast amounts of wealth out there - along with how to capture some of it for yourself. The trickier you get when it comes to finances, the more likely you are to get caught up and ultimately end up paying penalties.

I would probably prefer to refer to it as tips for achieving excellent finances. Commitments made in the beginning should be held firm, unless there are things that force us to cancel our initial commitments.
Actually building this kind of thing is something that looks easy, but when doing it is very difficult. There are many factors that we must consider in detail. For small things like the environment alone it will have a big influence on our journey. I am reminded of a term "if we gather with perfumers, then we will become fragrant" and I think this also applies to the situation of someone building something we want to achieve in the future.