Quote from: emulsifryer on September 21, 2023, 07:36:50 AM

It is important to search a lot of information before investing which you need to understand and keep in mind were invest what you can afford to lose. I agree with you that it's better to focus on increasing first your monthly income aside from that is you have to divide your earnings which is you need to separate first your base or your savings, and it's up to you if you will re-invest half of your money, but you have to consider the risk that it may not all be a good outcome for you.

You don't build wealth with salary, if you're a salary earner concentrate first on building an additional stream of income that generate money automatically without you been present, that's how wealth is generated. Wealth comes from having multiple streams of automatic income. You can create wealth from running a business or through investing in a large scale and most people use the profits generated from their business for the investing that's how the wealthy billionaire like Elon musk behavior.

Quote from: Sayeds56 on September 22, 2023, 12:14:31 PM

You have made very insightful points regarding time and effort required to build sustainable wealth. While there may be instances where a lucky person experiencing a significant windfall, such as winning the lottery, such occurrences are extremely rare, happening to the tiny fraction of the population. For majority of the people, achieving lasting financial security requires a patient and unwavering dedication to long term planning and effort.

Most lottery winners go broke in a very short time and that's because they didn't prepare for the huge some of money they received and most of them try to be smart by investing the money but they usually don't do the right investment because they were in a hurry to get rid of the money from their hand without thinking well. Money made from lottery can't be classified as wealth, you can say this people are rich but not wealthy. Wealth is a different type of money that its source never goes dry. Wealth isn't built by luck but you have to have intentions and work towards achieving your goals.