Post
Topic
Board Economics
Re: Reason why you will never become rich
by
lienfaye
on 04/08/2023, 04:56:37 UTC
The first reason why you can never be rich is too much  responsibilities, carrying family problems on your head which we all know family problems are always around the corners and can't be totally eliminated.
It's quite normal to help our family. However if your siblings (and other members) are already grown up, can work on their own, then it's time to remove yourself in the picture as their breadwinner. Because if you don't change what they used to, you can't focus on yourself since you're always connected to your family even they're not your responsibility. It's good to help but let them learn how to earn by working hard so they can feed themselves.

Buying liabilities,  things that doesn't have value five years from now.  Many save but even when money is saved,  it is done to spend and not to invest and the only way to become rich is to invest and not by savings.  So , invest in assets and not liabilities.
A person with a goal of becoming rich knows how to manage his finances and aware what things are worthy to buy. Saving and investing are part of the process, the result depends how determine and wise you are to know when to spend, save and invest.