It's the process of making money and reinvest make money and reinvest.
If you made just some lucky 10x profit but you can't keep up your stradegy for the long term then you don't build any wealth.
Investing and reinvesting profits is a good way of building a business. Instead of spending the profit, putting it back into the business will expand and grow it faster. If you made just some lucky 10x profit but you can't keep up your stradegy for the long term then you don't build any wealth.
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If we talking about trading and you don't build wealth with starting capital of 50$ then you woun't do it with 1000,3000,5000 either.
If we talking about real estate , first you need to understood the " mortgage markets " If you make like 10 year Investment plan because you been told real estate always good Investment then it's gamble everything what you don't know about and can't control it's gamble. And gamblimg is not business so dont call yourself like investor or traders
You think by holding the gold,silver and you always stay in profit that kind of mindset it's gamble not investing.
You think inflation always goes up and money printers working always its also the gamble.
Having an investment mindset is important if you want to create wealth. You can start with what you can afford and grow it over time. Some persons have enough but they don't care about investing. Before you invest in any sector you need to carry out extensive research to know the profitability and risk involved because you cannot control everything about the business. Some uncontrollable internal and external factors will affect the business. Every business has risks and sometimes our plans might not work the way we projected. Expecting profit from a business doesn't make it a gamble but we should do our research before investing. If we talking about real estate , first you need to understood the " mortgage markets " If you make like 10 year Investment plan because you been told real estate always good Investment then it's gamble everything what you don't know about and can't control it's gamble. And gamblimg is not business so dont call yourself like investor or traders
You think by holding the gold,silver and you always stay in profit that kind of mindset it's gamble not investing.
You think inflation always goes up and money printers working always its also the gamble.
~snip~ following a boring plan as follows:
1) Control income and expenses.
2) Spend less than you earn.
3) If you have consumer debt, get rid of it as fast as you can. And never get into consumer debt again.
4) Increase your income and get different sources of income.
5) Invest, invest, invest.
1) Control income and expenses.
2) Spend less than you earn.
3) If you have consumer debt, get rid of it as fast as you can. And never get into consumer debt again.
4) Increase your income and get different sources of income.
5) Invest, invest, invest.
hahaha... I like your sentence. In essence, we have to live frugally and set aside money. The best way is to increase our monthly income so that we don't need to be too frugal because income is greater than expenses. However, in practice it is not easy, but it can be done. Youth needs to be utilized because the energy and mind are still strong enough to think about many things