so my question is, which is more risky?
A). Running a physical business that has a whole lot of risk associated with it or
B) running an online investment with high risk of hack that could result in you loosing all your asset.
Deciding between a physical business and online investments is a complex choice, as both involve inherent risks. Physical businesses require significant upfront costs, rely heavily on location, and are vulnerable to economic downturns. Online investments, on the other hand, are volatile, carry the risk of scams, and lack complete control over market fluctuations. Ultimately, the "riskier" option depends on your individual experience, resources, risk tolerance, and time commitment. Diversification and calculated risk-taking are key strategies regardless of your choice. Conduct thorough research and seek professional advice before making any significant financial decisions. If I were in your shoes, I would consider pursuing both options. Running a physical business can create employment opportunities and contribute to the local economy, while online investments can offer potential for increased profits. However, it's crucial to minimize risks in both endeavors. |
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what about you, do you agree with the right leader can make your life as a citizen, businessman or an investor comfortable?
While no single leader can guarantee absolute comfort, their leadership style significantly impacts individual and societal well-being. Leaders prioritizing economic growth, safety, and equality foster conditions where citizens, businesses, and investors can thrive. Stable economies offer opportunities and prosperity, while safe environments ensure peace and security, vital for businesses and personal well-being. Leaders promoting social justice create fairer access, contributing to a more harmonious and comfortable society for all. Effective leadership remains a powerful force in shaping a better life, even though external factors influence the outcome. Therefore, I agree that the right leader can significantly improve our lives. |
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So, if you had the opportunity to advise people about courses to choose In University, what would it be and why?
I think choosing a major or course in university should depend on your desired career path after graduation. If you prioritize immediate job opportunities, research job demand projections for the next 3-4 years. Engineering offers good prospects, as my friends found work quickly. However, if remote work interests you, consider technology-related majors. Remember, university education goes beyond just technical skills (hard skills). Developing "soft skills" like networking and teamwork is equally crucial, as many curriculums haven't significantly changed in a decade. |
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There has always been a huge difference in the pay scale between the white collar jobs and blue collar or skilled labor wherein the later one put in more effort physically and do more hardwork than the earlier one.
Should there be market correction done for skilled labors?
Some will say that an white collar employee is more mentally drained out hence they deserve better pay but people who do menial job stop working the world will just rot as everything cannot be done but robots and AI.
It's sometimes sad to see how they are treated disrespectfully, be it a waiter, delivery workers, cab drivers, carpenter, or construction workers as they are the pillars and without them things will start falling apart. I know some of these can be automated but not everything.
I believe wages are determined by a combination of the value a worker brings and the dynamics of supply and demand. For jobs with low skill requirements and abundant worker supply, the pay is typically low. Even with low pay, applicants abound. So, why would the company raise wages? However, when worker supply is scarce, even for blue-collar jobs, companies offer higher wages due to the critical need for their workforce. Ultimately, supply and demand dictate wages. White-collar jobs have higher skill requirements, leading to a smaller talent pool and generally higher pay compared to blue-collar jobs. |
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Well, I have to clarify that personally I have never had any loan or debt in my life so this thread has nothing to do with my experience but intends to find out how people in loan/debt deal with the problem. Let's say you take loans from a bank and sometimes for whatever reason, you can not pay the debt on time, then you borrow money from other channels. Sure this works for a certain period but later bad things may happen, you have to postpone the payment and struggle with finances again. Isn't this a vicious circle ? How would you deal with the problem ? I am all ears.
Here's how to manage debt, based on someone I know's experience. First, prioritize your debts. Tackle those with higher interest rates or legal repercussions, like bank loans, before addressing personal loans. Increase your income or, at least, reduce expenses by focusing on basic necessities. In emergencies, consider borrowing from someone who understands your situation and can offer a flexible repayment schedule. Don't run away from debt collectors. Face them honestly, explain your situation, and let them know you're actively working on repayment. Debt can be stressful, so minimizing it is wise, especially for non-essential purchases beyond your means. |
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Let's cut the long story short the system doesn't serve us the way we can be wealthy.
Cryptocurrency is here no restrictions no limits and only your imagination how much you can earn.
Coming from a non-wealthy background, knowledge and hard work are our primary assets. Fortunately, the rise of cryptocurrency presents greater opportunities for financial growth compared to traditional avenues. However, mere hard work isn't enough. To secure a place in this system, we need to combine it with knowledge and strategic networking. |
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Demand and supply can have a direct or indirect relationship, affecting market behaviour and performance. Understanding this is crucial for organizations seeking to optimize operations and competitiveness. Thorough research and analysis are necessary to gain the insights needed.
I want to add something about how we can benefit from this relationship as individuals. As individuals, we can harness the power of supply and demand for profit by understanding market needs and taking calculated risks. This can involve identifying and catering to unmet needs, anticipating and capitalizing on fluctuating demand, acting as a middleman connecting buyers and sellers, or developing high-demand skills and knowledge. Remember, thorough research, strong networks, adaptability, and ethical practices are key ingredients for success in this dynamic landscape  |
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The way I see it, all bullshit token and coin abandons are done for this one reason; they only have one purpose which I will explain better...
We saw Luna and FTT are made for a reason which is to support those companies themselves, the day these companies drop their token or their currency will drop too.
That's why for me bitcoin is perfection because this previous one is multipurpose and its foundation is to avoid intermediaries there are no companies managing it, we will not be able to match satoshi due to the price drop(thats a clever move for him to stay behind the scenes).
Because we know that satoshi does not depend on a company to reinforce bitcoin.
And with this I finish all the currencies are a scam(meaning that the price can disappear) for me, personally the legit ones they are btc and tether.
What do you think?
While I understand the appeal of Bitcoin's stability, "only buying Bitcoin" might be an oversimplification. Our investment goals and risk tolerance play a crucial role. For those seeking short-term profits, well-researched altcoins and tokens can offer high potential returns, alongside Bitcoin. However, thorough research and understanding of the risks are essential before venturing into any altcoin or token territory. Bitcoin remains a safer haven, but it's not immune to market fluctuations either. Therefore, exploring other options with strong potential shouldn't be discouraged. Who knows, we might stumble upon the next big thing in the ever-evolving crypto landscape! Diversifying with calculated risks and research can open doors to potentially higher returns beyond just Bitcoin. |
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Ok, richdad poordad is about getting out of school and get a hold of your finance, get out of rat race and leave the cage, but what else to do after you had made it? I do not like richdad poordad for not having a complete guide, they just stop right at the middle of nowhere, and left the rest to the reader to figure them out...
so what is there to do? there is so many scammers out there what is richhdad poordad guide to proceed at this point? is there a handbook for thing like this?
I dont fancy giving away the thing to charity btw.
I know elon or warren must have their handbook to guide them, but I doubt they would want anyone to know and read their guide book.
cash flow 101, cash flow 202, what about cash flow 303?? cash flow 4040? cash flow 505?
I see the appeal of a complete guide, but it could limit our independent thinking and adaptability. Each of us faces different circumstances, and a one-size-fits-all approach simply wouldn't work. Let's view this guide as a valuable resource for inspiration, not a rigid set of rules. Even if we still lose after finishing that book, we could keep learning. By reading more books and combining the insights with our own experience, we could create a personalized guide that truly helps us . |
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We all want to save money, but it's not always easy.
There are so many things that tempt us to spend, unexpected bills that pop up, and it can be hard to make ends meet.
How do you manage to save in a world that encourages spending? Let's talk about it.
Share your ideas, tips, and stories about saving money, and together, we can figure out how to get better at it. (We will also draw valuable lessons from the mistakes and experiences of others.)
It's crucial to focus on what we truly need, rather than impulsive wants. Before each purchase, ask yourself: "Do I really need this?" This way, you can be more selective and ultimately save money by avoiding non-essential expenses. For leisure activities, I prioritize enjoyment hours and their impact on my overall well-being. Take Baldur's Gate 3 for instance. At $60, it offers over 100 hours of immersive gameplay, something I genuinely enjoy. This long-lasting enjoyment makes it a valuable purchase compared to temporary pleasures. This approach ensures I spend wisely on experiences that enhance my life, both in leisure and productivity |
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I was reading coinconfessions, and it occurred to to me that most of those who are in crypto go through a phase where they make lots of money, but eventually lose it all or most of it due to wrong decisions taken due to having lack of financial knowledge. Some start fresh with lessons learned and make it back, for some having huge unexpected money come and gone creates a downward spiral that they feel hard to get out of, almost like they were better off not having this unexpected wealth come in first place. You're right, it's easy to lose money in crypto, despite the potential for high returns. I experienced it myself, making a small, curious investment that unexpectedly boomed during a market surge. However, this lucky experience fuels a dangerous misconception - that getting rich in crypto is easy and reliable. This leads people to throw money at various investments, hoping to strike it rich. But with this "get rich quick" mentality, significant losses are almost inevitable. Approaching crypto cautiously and with thorough research is crucial, acknowledging its volatility and inherent risks. |
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Do you believe idea and money are very important in investment? Or can you succeed with money without idea in that investment.
Both ideas and capital are crucial for successful investments. Ideas guide us towards promising opportunities, while capital makes those opportunities a reality. When these two elements work together effectively, they lead to better outcomes. While it's technically possible to achieve investment success solely through money, it requires a vast amount of capital and a significant trial-and-error approach. Spreading your money across many investments might eventually yield a gem, but the probability is low, and you should expect significant losses along the way. |
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3. Become an extremely cheerful giver/lender to friends and family. A wisdom quote I read somewhere said, "if you want to lose your friends and family lend them money". Keeping doing this and you going to be successfully poor.
I trust you all get the sarcasm as conveyed.
While I respect your perspective, I don't entirely agree that lending money to friends or family guarantees staying poor. As long as the amount is within a reasonable range, say 10-30% of your income, it shouldn't significantly impact your financial stability. In fact, framing it as a gift rather than a loan can help manage expectations and avoid resentment if they can't repay you. It's similar to investing in a risky altcoin - there's a chance it might flop, but there's also potential for significant returns. However, I think that the real danger lies in becoming a "yes man," constantly giving in to loan requests even when they're too large and threaten your financial well-being. Lending beyond your means can lead to serious consequences, unlike the calculated risk of a small, thoughtful gift. |
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I think its quite true because based on that statement we need to doing our best to create value, without getting distracted by others' success or future gains. This way, we stay focused on meaningful work and avoid wasting time on distractions.As a result, we build something truly valuable that earns its own rewards over time. So the point is consistency . Consistency in working for ourselves is something that is absolutely necessary for everyone to do, because we all live in our own way even though it is through work that we understand very well. Because everyone must care more about the results of their own work than the results obtained by other people, so the level of consistency must not be reduced in the work that we have started and can continue to do so for a very long time. So the main focus remains on work that produces results so that passion for work can continue to increase over time. Thanks for adding the idea of consistency! However, not everything we do will always generate the desired outcome. Sometimes, challenges or long timelines can lead to us quitting before seeing results. That's why I believe it's important to find joy in the journey itself and view the outcome as a bonus. This way, even when our work doesn't yield the optimal results, we can still feel fulfilled and maintain consistency in our efforts. |
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Look, you can be old and rich or young an poor, but being old and poor is bad shit.
A surefire way of doing the wrong kind of things is to spend your money early or try to live a good life quickly without thinking about the future. Or if you have an ok job or income to think that is enough, even if you cannot save.
All young people, understand that time an money are linked. It is not the same to invest early than late, it is not the same to invest more early that try to invest more later. 100 is worth 100 today, but 800 in 20 years if you play it safe but well. Make no mistake, you will need to start creating your wealth.
I agree that we need to start building our wealth as soon as possible when we're young. Instead of being distracted by short-term spending, I think it's better to invest in ourselves first, like developing skills to get jobs with higher incomes. After that, we can start investing in things like cryptocurrency, for example. |
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#HODLing is not a smooth journey, do you agree? Totally agree, it is mostly easier said than done for most investors. I personally can recall the different juicy opportunities I have missed to really make it big in this space as a result of a lack of patience to HODL. Especially those early days in crypto when you barely understand the market and easily get freaked out with every FUD and market dip. Experience is the best teacher they say and I believe the majority of us are more experienced and mature over the years of being in crypto. What is your view on #Hodling Guys? source I agree, HODLing can be tough, especially when you're constantly monitoring the price. The volatility can be nerve-wracking, and there's no guarantee of mooning, haha! Actually, most of the crypto I HODL is because I honestly forgot I had it, thanks to long distributions from bounties or coins not worth trading at the time. But the occasional sweet surprise of finding a hidden gem makes HODLing totally worth it! |
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So, my question is very simple. What skills are you currently learning or have learned and are earning from, and what is the reason why you picked it?
I'm currently learning Python and UiPath because I'm passionate about automating tasks. This will enhance my time efficiency, allowing me to make the most of my free time. As we all know, time is a precious commodity that can't be bought; it's always slipping away. In addition to these technical skills, I'm also refining my communication and writing abilities. Beyond that, I'm learning how to craft better prompts for AI like ChatGPT and Google Bard, so I can obtain more accurate and desired outputs. |
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How true is it? I want to ask the successful people here in this forum. What kind of rules or strategies that you guys use which led you to your success?
I think its quite true because based on that statement we need to doing our best to create value, without getting distracted by others' success or future gains. This way, we stay focused on meaningful work and avoid wasting time on distractions.As a result, we build something truly valuable that earns its own rewards over time. So the point is consistency . |
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