Millionnaire mind : How to be rich?

[resty]

Who doesn't want a comfortable Mansion?
Who doesn't want a Luxurious car?
Who doesn't want a stable flow of Money?

As I came back in this forum, I brought some valuable information that might benefit our community as we reach future success and fullfilment.

At the end of this article we can have a basic knowledge on how can we secure our future or how can we survive ourselves, in a way that we will not be much affected if we experience again a financial crisis.

• Mindset
Don't complain. According to Jack Ma every complain was an oppurtunity and if we can solve other complains or problems it can be equal to money.
Everything is difficult, life will have no thrill if everything you need was easy to get. Practice yourself to be mentally tough across cicumstances for we will always encounter situations that are not favor to us. On the other hand, what matters the most is how you percieve it.
Everything is about mindset, always be positive whatever happens.
  
• Skill
As an individual you should develop a skill that can probably support your living. It can be something that is related to your academic background, talents, interests or personal experiences. Build this skill as you take your career path or as you enter the corporate world so you can have a foundation that you can use to earn money.
Take note that diploma is not always required to be successful, what we need is a mentor.

• Business
School is a business and created to produce employees and if we want to become rich don't be just an employee create a business.
As an employee no matter how much hardwork you make, your salary will always be the same and your boss is the only one who will become rich. Let's say you are being promoted, yes your salary might increase but still your boss is the only one who will become rich.
Maybe you are saying that you are not a business person but in fact everything can be learn if you have the courage and commitment to do it so.

• Investment
We cannot work in our whole life, our body will need some rest afterall. This was great if you finally build your business/es for it continuously gives you income even you are not working.
I highly suggest to learn this topic and have a research about stock investing. There are a lot of resources online that talks about how to start with it. What's nice here is that if we spot the right stock that suites to our character and need we can have another stream of income that can fight for us even if we are not working or if financial crisis strikes again.


Proper mindset and skill should be done first before creating a business and investment so you can have a strong foundation. In addition, our goal for business is for it to generate a passive income wherein you are not required to put extra effort for it to make money although you need it on the beggining.




p.s. Again this is just a basic and general information about How to become rich. Detailed discussion will soon be updated if this interests you.

p.s.s. This wasn't plagiarized and was originally created by me based on my own research. I hope that this brings value to the community and in return a single merit is much appreciated.

[semobo]

Everyone in thos world want to be become rich but they cannot make it possible if they are working for someone for their whole life.Be yourself a boss even if its a startup one day it will become a big company.Be smart and make others work for your benefits.

[franky1]

other tips are. be smart with the money you have. are you actually spending it on things that can generate you more.
this does not mean stop feeding yourself to invest. it means feed yourself as that money fuels your energy and your enegry makes you productive to work harder without waring out.

it means when you buy luxury stuff. is it really stuff you need in your life. could you use that money to create even more money. and then get the luxury item once you have excess money.

i see many people say they are poor but they happily spend $15 on fastfood. when they can easily make it for $3 in the same time as a 30min delivery.
by spending 30 minutes in the kitchen and $3 you then have $12 to use elsewhere without affecting your diet.

buying a $100k car in cash is a mugs game. its better to do a hire/purchase agreement of 4 years.
firstly your initial outlay is not even $5k and you can be smart and use $50k to generate more knowing you dont have to worry about that $50k for 2 years.
oh and if you are ever having debt collectors calling dee to other issues. they cant take the car as its not in your name. same with housing they cant take your home if your only renting.

buying things outright takes alot of your money out of your control in one go. while not being financially secure try not to throw your money at luxuries to appear secure.

put it this way.. most 'lambo's used as decoration at the bitcoin conferences a few years back were hired for a couple weeks. they were not bought and kept

..
as for how to accumulate wealth. try a bit of everything. see if you can cook your $3 meal and sell it for $15. find out what things re missing in the community.
i have seen people that have called their town by a derogatory word that sounds similar to the town. but used as a term of admiration.. so they made hats and shirts and made some money out of it.

also dont be afraid to let others do the har work for you and you take a cut. whether you wholesale, franchise or just take on an employee. dont think that your project/business has to be a one man team where only you take all. sometimes expanding is not a cut to your income but a expansion of your income and a reduction of your time to then try other things.

take grocery stores. they would not make much if the only thing they sold was carrots. they have a bit of everything these days that includes clothes and toys and appliances. so dont limit yourself to one small item.. its better to get 10cent each from      1000 things than it is to try getting $100 from one thing

[squatz1]

Well there's a much easier way to be (or to become rich)

1. Be born into money. That's without a doubt going to be the simplest way to be rich (I know, I'm messing around but this is the best way).

2. Work a good job (pay wise) and save a large amount of your salary. Take this money and invest it in the stock market, this is the best sure fire way to becoming wealthy.

2b. To further complement 2, have a side hustle of some sort to make money that isn't based on the amount of hours you work but instead is based on scaling your side hustle. This could be something like real estate, consulting, web dev work, etc.

[turkandjaydee]

Take this money and invest it in the stock market, this is the best sure fire way to becoming wealthy.

I see some cases where many stock prices are falling. I mean the stock market has volatility too (maybe less than crypto market).

So what do you mean by saying "best sure fire way"? Is there a stock that surely growing stably in the stock market? And how big the percentage you can get from money that you put in?

Detailed discussion will soon be updated if this interests you.

I'm very interested in the detailed discussion. But to have a comfortable detailed discussion, the thread should be a self-moderated thread. So the important information won't be drowned by duplicate and common sense opinions.

[squatz1]

Take this money and invest it in the stock market, this is the best sure fire way to becoming wealthy.

I see some cases where many stock prices are falling. I mean the stock market has volatility too (maybe less than crypto market).

So what do you mean by saying "best sure fire way"? Is there a stock that surely growing stably in the stock market? And how big the percentage you can get from money that you put in?

Yes, stock prices go up and down. But in the grand scheme of things (since before the Great Depression until now) the stock market has grown at a rate of about 10 percent a year ~ 7 percent after inflation yearly. Our best indicator, at least in something that's been around as long as the stock market, is past performance.

Crypto is volatile, volatile as FUCK.

Just to show that, some of the worst entire YEARS in the stock market have shown 70 percent losses (Great depression)and the most recent losses have been around 50 percent or so (during the great recession of 2008. In crypto we see swings of 90 percent in a day, sometimes every few days (with some coins)

[KingScorpio]

Who doesn't want a comfortable Mansion?
Who doesn't want a Luxurious car?
Who doesn't want a stable flow of Money?

As I came back in this forum, I brought some valuable information that might benefit our community as we reach future success and fullfilment.

At the end of this article we can have a basic knowledge on how can we secure our future or how can we survive ourselves, in a way that we will not be much affected if we experience again a financial crisis.

• Mindset
Don't complain. According to Jack Ma every complain was an oppurtunity and if we can solve other complains or problems it can be equal to money.
Everything is difficult, life will have no thrill if everything you need was easy to get. Practice yourself to be mentally tough across cicumstances for we will always encounter situations that are not favor to us. On the other hand, what matters the most is how you percieve it.
Everything is about mindset, always be positive whatever happens.
  
• Skill
As an individual you should develop a skill that can probably support your living. It can be something that is related to your academic background, talents, interests or personal experiences. Build this skill as you take your career path or enter the corporate world so you can have a foundation that you can use to earn money.
Take note that diploma is not always required to be successful, what we need is a mentor.

• Business
School is a business and created to produce employees and if we want to become rich don't be just an employee create a business.
As an employee no matter how much hardwork you make, your salary will always be the same and your boss is the only one who will become rich. Let's say you are being promoted, yes your salary might increase but still your boss is the only one who will become rich.
Maybe you are saying that you are not a business person but in fact everything can be learn if you have the courage and commitment to do it so.

• Investment
We cannot work in our whole life, our body will need some rest afterall. This was great if you finally build your business/es for it continuously gives you income even you are not working.
I highly suggest to learn this topic and have a research about stock investing. There are a lot of resources online that talks about how to start with it. What's nice here is that if we spot the right stock that suites to our character and need we can have another stream of income that can fight for us even if we are not working or if financial crisis strikes again.


Proper mindset and skill should be done first before creating a business and investment so you can have a strong foundation. In addition, our goal for business is for it to generate a passive income wherein you are not required to put extra effort for it to make money although you need it on the beggining.




p.s. Again this is just a basic and general information about How to become rich. Detailed discussion will soon be updated if this interests you.

p.s.s. This wasn't plagiarized and was originally created by me based on my own research. I hope that this brings value to the community and in return a single merit is much appreciated.

millionaires are rich because:

they have luck

they are financially literate, and have access to kapital, while others have to sell their time.

millionaires also have the luck to invest intosafe equity, which others then are forced to protect. while they take profits out of it.

[merchantofzeny]

Why am I reading this in the Alux narrator's voice? 

There's so many different avenues for making money. I know they say never take money advice from a poor man but I'm gonna leave a comment anyway. I think it all really boils down to value. That's the essence of economics, the transfer of value.

So basically it's prepping yourself out to produce value (training for skill, setting up a manufacturing process, etc.) for someone. It must be something they'd value else there'll be no transfer (though marketing might help here). Then from there it's managing the money flow.

[chaoscoinz]

I think if you aren't already born into a fortunate condition/situation then being rich all comes form a mindset. I think you have to be rich within your mind before you can ever strive to be rich in actual life. Also the word rich is quite subjective. Rich could be a secure financial condition that allows you to have your cake and eat it to in a sense. Then theirs enough money to buy a small island or country, rich. I believe that "rich" may be in the eye of the beholder.
  Who know the, i'm not rich, but that's how i'd imagine it. 

[serjent05]

Well there's a much easier way to be (or to become rich)

1. Be born into money. That's without a doubt going to be the simplest way to be rich (I know, I'm messing around but this is the best way).

This is sure the easiest way of being a Millionaire, having our mom and dad to work hard for us to be a millionaire.

2. Work a good job (pay wise) and save a large amount of your salary. Take this money and invest it in the stock market, this is the best sure fire way to becoming wealthy.

Not all who invest in stock market become wealthy, there are lots who got burned because of a wrong decision.  Ever heard of the term equilibrium?  One cannot earn money without someone losing it.

2b. To further complement 2, have a side hustle of some sort to make money that isn't based on the amount of hours you work but instead is based on scaling your side hustle. This could be something like real estate, consulting, web dev work, etc.

Creating extra job to earn more will go to waste without proper monetary system.  Financial literacy is needed to be able to know what to do with extra money that we earn and the most important is discipline towards money spending.

[kro55]

Everyone in thos world want to be become rich but they cannot make it possible if they are working for someone for their whole life.Be yourself a boss even if its a startup one day it will become a big company.Be smart and make others work for your benefits.

World deadliest addiction is monthly salary. Your company uses your skill to make progress and get rich while workers keep on working for there complete life. Make a bold decision before it gets too late.

[darkangel11]

You don't have to be a CEO to be rich. There are no rules that always work.
I know people who got wealthy being partners or employees of smart leaders. Investment bankers and analysts in the US make more than 100k USD a year. Maybe that's not crazy rich, but it's a lot. If you can make a million dollars in less than 10 years you are rich in today's world.
My rule is don't lie to yourself and don't aim too high. If you are never able to settle for a certain wage you will never be happy.

[Naida_BR]

"Always be positive"
This is saying a lot of things. You have to be prepared for the worst but you have to expect the best.
this is how you have to build your mindset and train your mind for that.

[inanilujimi]

frugality and being able to use money from income for something useful. Buy something that is a major need, not a mere desire.
From the savings, it is used to save and invest. The money collected is used as capital to start a business or other productive activities, most importantly being able to see opportunities around that are needed by others.

[coins4commies]

0. don't work
1. Think of something to steal
2. Find a legal way to steal it
3. Do this over and over.

I spent 45 minutes signing papers 10 years ago and now I get to steal some dude's paycheck every month.  A few afterwards I repeated the process and now I'm too burdened by the guilt of stealing paychecks from two families each month to scale up the operation.   No work or skill was ever involved on my part.

[TheCoinGrabber]

Time is money, it's a matter of finding a way to make all those seconds count. When you work for an employer, you are selling your irretrievable time to him for a bunch of paper.

Most of the time (no pun intended) you earn money by saving people time. Even products like games can be seen this way. People who want to waste their time no longer need to spend time creating what they can waste time on.  That's time saved!

[guybrushthreepwood]

Who doesn't want a comfortable Mansion?
Who doesn't want a Luxurious car?
Who doesn't want a stable flow of Money?

What is this obsession with merely becoming rich by any means necessary? Instead of wanting a mansion and a Lambo and millions in the bank, why not be content with owning a reasonable sized house and a half decent car that works and a bit of extra disposable cash to do what you want with? There's nothing wrong with having aspirations but I think this hustle culture and getting rich quick mentality a lot of people have are setting themselves up for a life of misery and depression, especially if your aim is to become a millionaire with a mansion and flashy car as 99% of people aren't ever going to achieve this.

p.s. Again this is just a basic and general information about How to become rich.

Did it work? Are you rich? People seem to think there's some magic formula to becoming rich and if you just read a few books from entrepreneurs or follow some tips from an online influencer you'll hit the jackpot, but what people don't realize is these people are just selling you some generic bullshit and that's how they often make their money. Every time I go on Instagram my homepage is filled with nonsense from these so-called get rich quick influencers mostly posting about things they know little about in the hope that one day they'll have a big enough audience to actually make some money from. A classic one is Tai Lopez who seemingly faked it till he made it by buying lots of youtube ads showing off his rented Lamborghini and how you too can achieve that if you just give him your money. Now ironically he does have the money for many Lamborghinis because people bought into his courses and all the other rubbish he's selling. Nobody has ever been able to find any info on his background other than a few failed businesses but it looks like all it took was the charade of wealth and enough money to rent a Lambo and buy youtube ads. The simple reality is that to get anywhere in business you need to work very hard and create as many opportunities as you can, but you also need a bit of luck. How many people start a business or have a great idea but they just never get off the ground or go under because of one reason or the other? Most business fail, but a good entrepreneur will pick himself up off the floor and try again, but sometimes you can be doing this your whole life with no results and can end up with nothing but without taking risks you won't ever get anywhere but I don't think most successfully people got there because they followed the advice of some other guru and they just worked it out themselves and I think that's what people should be doing because that's how you come up with something unique or worthwile.

[darkangel11]

There's nothing wrong with having aspirations but I think this hustle culture and getting rich quick mentality a lot of people have are setting themselves up for a life of misery and depression, especially if your aim is to become a millionaire with a mansion and flashy car as 99% of people aren't ever going to achieve this.

And it never ends because this is how the world is built. There's always somebody richer than you and there's always something more expensive to buy.
A poor guy will dream of his own house and a car and if he ever gets rich a heated swimming pool in the garden and a garage with 1 car for each member of the family.
When he gets it his standards will change and he'll think a rich person owns a 10 bedroom mansion and has a private cook and the garage is full of cars because he needs an RV, a town car, a sports car, one for every kid...
When that's accomplished he still won't be satisfied because rich sudenly will mean owning a garage full of exotic cars and houses in different parts of the world.
When he get's that he'll want a helicopter, a yacht, his own sky scraper... When he gets that it will be a career in politics. It never ends!

[OgNasty]

Everyone in thos world want to be become rich

This is not true at all.  I know a lot of extremely intelligent people who willingly choose to do things that make them and their families happier as opposed to maximizing their earning potential.  In fact, most of the happiest people I know value their wealth not by the amount of money they have in the bank, but by the strength of their friendships and relationships with their family.

A great quote on this subject...

Money is numbers and numbers never end. If it takes money to be happy your search for happiness will never end.

[gentlemand]

It's generally more informative to consider the opposite angle. What dooms people to being eternally broke?

From my observations the main characteristic that imprisoned them was their inability to defer gratification.

I knew a creative type whose output was world class. However he would throw away whatever he was building to progress it the moment anyone offered him some bullshit shortcut. Of course it always turned out to be hogwash so he was back to lower than square one again.

He always voiced the fear of winding up being the person who could've been someone rotting in the back of the pub and that's exactly what he became. He couldn't look beyond the end of his willy or the next five minutes.

I talked to a bloke who was three times bankrupt. I asked him where it all went. He spent quite some time considering it and then said it was mainly designer clothes on credit. Then he pointed out his new designer clothes with his new credit line.

For some reason the Bitcoin pious call instant or delayed gratification high/low time preference, which is a loathsome phrase, but if you can't get a handle on that you may as well not bother at all.