Beliefs about money and wealth

[cr_liev]

In order to be rich, one should love money  Some people think "money makes people bad" or "money is the source of all world's evil", but these are the believes that prevent them from having this money. I personally believe that the guarantee for financially secured life is an easy attitude to money and correct money management.

[paxmao]

Everyones hasn diferent beliefs about money and wealth. See for example 35 different ways of thinking about it here:
https://daringtolivefully.com/powerful-beliefs-about-money

One famous author, not my favourite, yet an influential one is Robert Kyosaki. In his book poor dad, rich dad, he examines two different beliefs and states that those believes will shape your success.

What of these do you agree with? What other beliefs do you have about money?

1 - Millionaires are greedy, that is why they become millionaires.
2 - Company managers just want to use the workers to make themselves rich and others poor.
3 - Having money is a question of luck, if not of "gods grace".
4 - Debt is always bad.
5 - To make money, you just need to have a great idea nobody thought off.
6 - Cryptos are the way to make money and be successful without having to put effort into it.
7 - To become rich I just have to believe in Bitcoin because many people have become rich doing that.
8 - To become rich I just have to be more clever and streetwise than everyone around to get my share of the cake.

Your turn to think ...

(EDIT: These are NOT my beliefs, at least not necessarily, is just a list to think. Is not the list by Robert K. either.)

First, I believe the book's proper title is Rich Dad, Poor Dad. Beyond that, the author is a bit hackey for my tastes. His advice is overly simplistic and just generally not very good or insightful. He starts with a good premise - that financial education is a worthy goal - but doesn't instill any particularly useful education or methods of thinking about wealth. Further, the book isn't very well sourced, and some critics have noted that it's extremely unlikely that some of the scenarios described in the book ever actually happened.

Agreed. I think this guy has made a fortune and a name by teaching (mostly US people) just the most basic notions about money that they should have been taught at school.

Thanks for the correction.

[paxmao]

Everyones hasn diferent beliefs about money and wealth. See for example 35 different ways of thinking about it here:
https://daringtolivefully.com/powerful-beliefs-about-money

One famous author, not my favourite, yet an influential one is Robert Kyosaki. In his book poor dad, rich dad, he examines two different beliefs and states that those believes will shape your success.

What of these do you agree with? What other beliefs do you have about money?

1 - Millionaires are greedy, that is why they become millionaires.
2 - Company managers just want to use the workers to make themselves rich and others poor.
3 - Having money is a question of luck, if not of "gods grace".
4 - Debt is always bad.
5 - To make money, you just need to have a great idea nobody thought off.
6 - Cryptos are the way to make money and be successful without having to put effort into it.
7 - To become rich I just have to believe in Bitcoin because many people have become rich doing that.
8 - To become rich I just have to be more clever and streetwise than everyone around to get my share of the cake.

Your turn to think ...

(EDIT: These are NOT my beliefs, at least not necessarily, is just a list to think. Is not the list by Robert K. either.)

My friend got recruited for some sort of cult that worshiped this book. It sounds interesting minus joining the cult, think I'll put it next on my reading list!

Please don't!!

[boyptc]

7 - To become rich I just have to believe in Bitcoin because many people have become rich doing that.

I'll disagree on this, you can't become rich if you "just" have to believe in bitcoin. Believing with bitcoin is necessary and needed for investors but you can't yourself if you are only a believer, you have to become an investor so that those you are hearing about others becoming rich in bitcoin can also happen to you.

[fulmetal08larz]

The belief about money and wealth depends on the individual. All of the mentioned beliefs could be applicable to one but not everyone or vice versa. It's just that you only have to apply what's applicable to you and if you fail, make sure you learned something from it and use it as an advantage to gain profit in your next move. Do your own research and study on how to become successful in your own definition of success.

[Pemburu1]

4 - Debt is always bad.

Debt is not always bad. For example if there were no mortgages, people would rent till they were into their 50's and only buy at that point. Debt can be good if it can purchase you a business or asset whose returns are greater than the interest on the loan. But once you've bought your asset, you need to overpay that debt as fast as possible, because only when the liability is gone can you really own the asset outright.

Nope, houses would simply be much cheaper because people would only be able to spend what they have.

It's wishful thinking that the capitalist economy would survive without debt. A world without debt is socialism. (im not saying that's bad either). But the truth is the economy needs to grow or it will die and debt plays a crucial role to that. The world needs debt to grow.

Not always debt is bad, because the world needs debt to keep growing and floating. Even the state itself owes to other countries, to be more developed and developed.
There is no harm in you doing debt as long as you have a plan in the future to be able to make more money from the money you borrow.

[decoder88]

Number 5 is the one that I somewhat agree in this topic. In order to survive and profit money, you have to be innovative and unique. This is called your unique selling proposition. If your USP is interesting, then the chances of earning money would be higher.

To be able to earn money, you have to work hard for it, in terms that you have to make a new idea or strategy on how to earn it, uniquely. If you will work differently with other, for good reasons you will earn big, because you will be the only one good or i guess best at that craft or passion that you are going to enter whether you're gonna want number 5 to happen.

[trumper]

You can get rich, that can happen to someone even by even lottery, luck etc. But if you are not a such person who can be millionaire, then you are very unlikely to stay wealthy. It is same in crypto, you can't buy a good brain with money 

[Nahl]

indeed those things were makes sense but regardless other number from these list i was interested to number 6 and 7 that crypto is one of the best way to make money and believe in bitcoin could makes people rich so this is possible to be done even though not happened instantly but joining in crypto world is the right decission

[terrific]

1 - Millionaires are greedy, that is why they become millionaires.

I don't agree on this, millionaires are hardworking even they are on bed they keep on thinking about ideas on how they will grow their businesses and investment. They might be greedy but they are working on it with their full potential and effort.

4 - Debt is always bad.

It will pull you down so better to stay away from asking people to borrow money. I can't give any other points for the remaining ones but we are living in a world that is unfair so in able for someone to get rich and live prosperously, you need to deal with challenges and risks.

As i oppose in the same thing too about millionaires are greedy which we cant really generalize such stuff because some of them wont really reach that state if they didnt make a hardwork. We might see do achieve this on a fast way but some them goes it gradually which isnt right to generalize that they are all greedy.All people do have that greed feeling when it comes to money but the success that they had reach is really worth it for the hard work that they have done.

They are thinking about the profit all the time as that's how their life goes on. But when we say or we do generalize that they are greedy, I don't agree with it. Greed is attached to the human nature but we can't actually say it to those people who are rich now and went through a lot of ups and down.

[crypt0heaven]

In order to be rich, one should love money  Some people think "money makes people bad" or "money is the source of all world's evil", but these are the believes that prevent them from having this money. I personally believe that the guarantee for financially secured life is an easy attitude to money and correct money management.

I would underline this point. Most important of all is correct money management. Unfortunately, the hodl mentality neglects money management. If you want to stay wealthy you must learn how to manage money properly.

[batang_bitcoin]

In order to be rich, one should love money 

IMHO, this is wrong. Money is important as it gives you an idea on how wealthy you are but loving money? It will cause evil things on your mind, I believe in the verse on the bible that it is the root of all evil when you love money.

Some people think "money makes people bad" or "money is the source of all world's evil", but these are the believes that prevent them from having this money.

But it's happening, I would even believe with those people who are working hard that are inspired to feed their family and it makes them to have money.

[Koadharber]

1 - Millionaires are greedy, that is why they become millionaires.

I don't agree on this, millionaires are hardworking even they are on bed they keep on thinking about ideas on how they will grow their businesses and investment. They might be greedy but they are working on it with their full potential and effort.

4 - Debt is always bad.

It will pull you down so better to stay away from asking people to borrow money. I can't give any other points for the remaining ones but we are living in a world that is unfair so in able for someone to get rich and live prosperously, you need to deal with challenges and risks.

As i oppose in the same thing too about millionaires are greedy which we cant really generalize such stuff because some of them wont really reach that state if they didnt make a hardwork. We might see do achieve this on a fast way but some them goes it gradually which isnt right to generalize that they are all greedy.All people do have that greed feeling when it comes to money but the success that they had reach is really worth it for the hard work that they have done.

They are thinking about the profit all the time as that's how their life goes on. But when we say or we do generalize that they are greedy, I don't agree with it. Greed is attached to the human nature but we can't actually say it to those people who are rich now and went through a lot of ups and down.

I agree on this one because we dont even know on the trials that they overcome before they do able to become millionaires.Being having a lots of money do always correspond on the perseverance into an individual.If we do talk about the world isnt fair then it depends among to our targets or goals in life and to those millionaires out there they are doing the best as they can why they do accumulate lots of money.They have really the capability into things because they have the money to spend on.

[ProofOfLambo]

Debt is not always bad, debt can make you make more money by borrowing and investing. This is normally called leverage and is a tool that all the companies out there use.

[Protected101]

6 - Cryptos are the way to make money and be successful without having to put effort into it.

Everyone of us need work hard to achieve being rich and in crypto we cannot reach our goal by doing nothing.Being successful is by full effort ,search for eveything to become rich someday.

[markint]

The most popular belief I have heard in my country about money is that God loves the poor more than the rich, so it is easy to infer why many people seem to live happy with their poverty. I have also heard that the only way to get rich is to abuse others, and this kind of mentality is what makes many people of the third world countries to live immersed in poverty despite having all the conditions to be prosperous.

[vibingpositively]

Everyones hasn diferent beliefs about money and wealth. See for example 35 different ways of thinking about it here:
https://daringtolivefully.com/powerful-beliefs-about-money

One famous author, not my favourite, yet an influential one is Robert Kyosaki. In his book "Rich Dad, Poor Dad", he examines two different beliefs and states that those believes will shape your success.

What of these do you agree with? What other beliefs do you have about money?

1 - Millionaires are greedy, that is why they become millionaires.
2 - Company managers just want to use the workers to make themselves rich and others poor.
3 - Having money is a question of luck, if not of "gods grace".
4 - Debt is always bad.
5 - To make money, you just need to have a great idea nobody thought off.
6 - Cryptos are the way to make money and be successful without having to put effort into it.
7 - To become rich I just have to believe in Bitcoin because many people have become rich doing that.
8 - To become rich I just have to be more clever and streetwise than everyone around to get my share of the cake.

Your turn to think ...

(EDIT: These are NOT my beliefs, at least not necessarily, is just a list to think. Is not the list by Robert K. either.)

I agree with 3, 5, and 8. The rest either have some fallacies or are unnecessary. I especially dislike number 6 and 7 because they imply crypto is easy money and and easy game. It isn't and people should saying such things, it is very volatile and many individuals get rekted.

[Mometaskers]

I suggest you also read this: https://www.amazon.com/Rich-People-Think-Steve-Siebold-ebook/dp/B003XKNWXG

When I first read this I was "Oh my gosh, I can't believe it". Still not rich but I no longer feel as desperate.

Anyway, here are my opinions on your pointers.

1 - Millionaires are greedy, that is why they become millionaires.

IMHO the greed comes after, or has always been there in the INVIDUAL. Many companies have been raised out of necessity or a need for innovation rather than plain greed.

2 - Company managers just want to use the workers to make themselves rich and others poor.

Well the  managers do have their quotas/targets so they have to achieve that but that don't necessarily mean they want to keep their workers poor.

3 - Having money is a question of luck, if not of "gods grace".

Well it is. Many millionaires are second generation and many "self-made" millionaires came from families affluent enough to give them a headstart. Both poverty and wealth are inherited. So even if you may not become a millionaire, you can set-up the next generation for a better life.

4 - Debt is always bad.

Rephrase that to "debt that don't earn you interest is 'bad". You take a loan for a car which decreases in value, that's bad. You take a loan for a car you are going to use for your business, that is good (better if you can write it off).

5 - To make money, you just need to have a great idea nobody thought off.

It's a start but you better be able to to make it workable and scalable, as well as prepare for the inevitable competition.

6 - Cryptos are the way to make money and be successful without having to put effort into it.

Don't think of it in terms of investment. Do you just put your fiat in cabinet and leave it there for years?

7 - To become rich I just have to believe in Bitcoin because many people have become rich doing that.

No. Just no.

8 - To become rich I just have to be more clever and streetwise than everyone around to get my share of the cake.

Yes. Industriousness can only take you so far. Work smarter not harder.

The most popular belief I have heard in my country about money is that God loves the poor more than the rich, so it is easy to infer why many people seem to live happy with their poverty. I have also heard that the only way to get rich is to abuse others, and this kind of mentality is what makes many people of the third world countries to live immersed in poverty despite having all the conditions to be prosperous.

Funny considering that as a country grow richer, they generally get less religious (doesn't apply to the Middle East, they grew rich too fast). Which had me thinking, are countries religious coz they're poor or are they poor coz they're religious.

[bert20]

Belief about money and wealth. I believe about money and wealth because if I have it I can do all I want, I can get what I want. I have many friends. But most of all the most important when I had all of this I am not going to change and always in my heart still the Lord God and I still know how to humble people. Because any substance on earth you will face if you don't know the Lord God, useless all the wealth in the world.

[slashz9]

I think the definition of wealth is when one is able to survive without salary / work. or your passive income exceeds your expenses as robert said hahaha.
I'm making it happen now, it's hard but I keep trying until I succeed