Quote from: casey15 on January 30, 2025, 12:54:39 PM

I think One of the reason why people remain poor even while earning a decent amount of money from their businesses is the fact that they see money as a spending means and not investing....
When building a business, it requires some level sacrifice and discomfort, after there have been significant growth l, money can be spent for expanding the business. At this point, it is not referred to as spending but as investing, because the changes and expansion will bring in more profits.
However for the case of people earning salaries, do you think there is a way they can be really rich without owning a business and or is it compulsory for one to be own his own business

It's definitely true that people on salaries often do not know how to invest their money properly and end up spending instead. I know countless people dropping a large chunk of their salary on to things like car payments, which is a depreciating asset. They'll also spend extravagantly with little even going into savings. It is possible to grow a degree of financial freedom with responsible spending and learning a little bit about investing, but it will grow much faster than savings accounts. Lots of people I've found simply don't have the determination or persistence to pull it off.