Financial freedom and success comes from knowledge

[Mauser]

Knowledge is indeed power, not only that, knowledge is also a bridge to success and wealth when used strategically. As you can see, some people are already blessed with wealth ever since they are born but not all of them stay rich for long because of their lack of knowledge on how they should manage their finance. Some came from being poor to being rich just because of being smart and wise with their decisions. We should never underestimate those people who has lots of knowledge, some may appear nerdy but at the end, they're the most powerful person you'll ever meet.

I fully agree with you. Wealth can come through many forms, hard work, luck by winning the lottery or luck by having the right parents. So while you might not need knowledge to be rich at one point in your life, you definitely need knowledge to remain rich. Without the ability to learn new things quickly it will be very hard to make decisions that help keep your wealth long term.

[wxa7115]

Do the opposite from people doings

When the market goes down, it's the right time to buy and when the market goes up, it's the right time to hold or sell. I know this method wouldn't work at all time, but mostly it works based on my experience. Many people aren't learn and knowing about the market condition, most of them only buys when it's reached ATH on FOMOed.

"Money is not everything, but everything needs money" that's why we should know how to get and manage money, to earn maximum amount money. Just like get a job in real life and set aside of the wages to buy Bitcoin or any investment you interested/mastered.

This works because markets are manipulated and those in positions of power do their best to try to move the masses to do something so they can profit from them so doing the opposite or at least remaining neutral can be a huge difference, the problem is that this is difficult to do, when we saw the crash of March last year it was difficult to just hold your coins and even more so to buy when the price presented such a fast decline.

But now less that one year later the very same people that held and bought more coins are the biggest winners in the market as the price has increased many times over during that time.

[tbterryboy]

Yes knowledge is everything, if you don’t have the knowledge there is no way you are going to be successful in what you’re doing. Is with sound knowledge that you will be able to figure out what’s going to work for you and then you do that and it will work.

Moreover, there are cases you will see a lot of people doing the same thing and only one of them is being successful, that’s because of knowledge, that one person knows what he or she is doing because they have the knowledge and have applied it the right way, so it works for them.

[CarnagexD]

Knowledge is indeed everything, but knowledge without application is knowledge wasted. So you have to be able to showcase these knowledge you gained in one way or another. That being said, we also have to consider opportunities, which is the main reason why so many professionals don't get to be realized in their respective field. Either they are blocked by financial struggles, racial discrimination, or the likes.

What about people who don't have knowledge but they have financial freedom. I think luck also can give someone such. For the knowledge some people are educated with knowledge but they are still poor no matter how they struggle for wealth. About crypto investment , it is difficult for many to know when to sell their hodling or keep hodling. Sometimes you sell but price keeps rising and you feel bad. Another time you are lucky after selling, price drops and you are happy, you see the luck ? Being rich isn't only about knowledge is the way I see about this.

This, exactly. Opportunity plays a bigger role most of the time in how a person becomes successful, I can tell you how many classmates I have in the past who weren't that good and weren't street smart at all but were able to live lavish lives because they have affluent parents or families, which unfortunately some of us don't.

[Yatsan]

Anything can be at least possible when you are knowledgeable enough about any certain thing you wish to have engagement with because you are being capable to adjust and adapt based on what you think and know is right and you are being able to decide on the betterment of things because you are pretty much sure that you know what you are supposed to do. There are lots of things that have been taking advantage when you have knowledge. No one can fool you and you are less vulnerable to get caught into schemes that are just targeting you because they might be thinking you are easy to be fooled. Before doing anything, ensure that you know anything even the basic information because such knowledge will serve as your power and foundation.

[kolbalish]

This is the most accurate and simple thing in the world. Financial well-being and success both come from knowledge. Yet knowledge alone cannot cover the whole. Along with these two, more things are needed which are hard work and luck. You have to work hard with Proper Knowledge and in the end, your destiny has to be with you. Many times it is seen that knowledge, hard work is all right but if you don't give luck then success is a misfortune. Again, it is seen that a lot of success can be achieved with less effort, but in this case, luck is on your side.

[tygeade]

A lot of people have still not learnt from what has happened during this covid19 pandemic, because they still care less and don’t want to do things that will help them in creating wealth for themselves.That’s why there is a quote that says that we shouldn’t work hard, but we should be working smart and not hard. Working hard and not doing it smart means that you’re just going to be stressing your life, which will in turn affect you.

But, when you do it in a smart way you’re going to be able to earn from it and develop a small business to a higher level. There is a way you can package the same product that is being sold for a penny and it will be sold for a huge amount of money, the way you do your things is the same way it will be valued.

[Kittygalore]

This is the most accurate and simple thing in the world. Financial well-being and success both come from knowledge. Yet knowledge alone cannot cover the whole. Along with these two, more things are needed which are hard work and luck. You have to work hard with Proper Knowledge and in the end, your destiny has to be with you. Many times it is seen that knowledge, hard work is all right but if you don't give luck then success is a misfortune. Again, it is seen that a lot of success can be achieved with less effort, but in this case, luck is on your side.

Aside from knowledge, we also have to value experience and wisdom aside from knowledge. Yes knowledge is power but wisdom is guidance and a moral compass, experience is the application of that knowledge, it is not worth it that you know all the theories but you do not have the guts to test it. I do not agree with luck because I am really skeptic about it, dependence or even acknowledging luck is a bad thing for you as a person, everything that comes your way will only be considered as bad luck without doing anything to do with it to try and change the outcome. Destiny is debatable because if we are destined to do something then there is no justice to the people that suffered through wars and famine.

[Kong Hey Pakboy]

A lot of people have still not learnt from what has happened during this covid19 pandemic, because they still care less and don’t want to do things that will help them in creating wealth for themselves.That’s why there is a quote that says that we shouldn’t work hard, but we should be working smart and not hard. Working hard and not doing it smart means that you’re just going to be stressing your life, which will in turn affect you.

But, when you do it in a smart way you’re going to be able to earn from it and develop a small business to a higher level. There is a way you can package the same product that is being sold for a penny and it will be sold for a huge amount of money, the way you do your things is the same way it will be valued.

What you said is true; a lot of people suffer-- "lack knowledge" rather on how to use money wisely, that their lives are still in constant 'work hard' scheme of life. Once they learn about how should manage money, everything follows. If only a lot of people will truly apply what they have learned; not only just 'know' it, they won't be 'suffering' for the rest of their lives. Being a hard worker and a smart person is both essential to achieve it, and it will be surely worth all the efforts you have exerted.

[ChiBitCTy]

I am not sure I fully follow everything you're saying here.  One of the main questions I have is what do you mean by the "5 year" deal? Certainly no one should only be planning for 5 years at a time..as building wealth is a lifetime goal (should be planning to live to at least 90-100 years old).  But as a financial advisor I do agree with your premise that it's very important to learn the basics first. 

Amazes me how few people actually put in the work and learn.  Homework is vital, here's what it looks like when you don't do any homework ( all the GameStop , AMC "traders" )

[wxa7115]

Yes knowledge is everything, if you don’t have the knowledge there is no way you are going to be successful in what you’re doing. Is with sound knowledge that you will be able to figure out what’s going to work for you and then you do that and it will work.

Moreover, there are cases you will see a lot of people doing the same thing and only one of them is being successful, that’s because of knowledge, that one person knows what he or she is doing because they have the knowledge and have applied it the right way, so it works for them.

It is that simple and yet people do not see it but why? And I think this has to do with the fact there is a disconnection in the minds of some people about the nature of knowledge, most people see knowledge as the thing they acquire to pass a test and then forget everything they learned the day after, they do not see that the more knowledge you have the easier it is to accumulate even more knowledge and sooner or later that knowledge will bring you great advantages.

And this is even more true when it comes to managing your own money, letting your money sit in a bank while better than spending all your money and getting loans to spend money you do not even have is not optimal, you need to at least have enough knowledge to beat inflation otherwise you are wasting your time and money, and that skill can only be gotten by accumulating knowledge about the markets and that is a process that for the most part takes years.

[iamsheikhadil]

I agree with you on all levels, knowledge is weapon and this world is indeed a big scam, be it the government or companies, but through knowledge, we can be safe from them and beat them at their own game. Rich people know how to manage their money, not falling for greed or temptation, not waste their money totally on things they want to show off on like many cars which is totally a bad investment. We should study about their lives and the knowledge they give us along with a motivation to follow their footsteps if we want to be like them!

[wxa7115]

I agree with you on all levels, knowledge is weapon and this world is indeed a big scam, be it the government or companies, but through knowledge, we can be safe from them and beat them at their own game. Rich people know how to manage their money, not falling for greed or temptation, not waste their money totally on things they want to show off on like many cars which is totally a bad investment. We should study about their lives and the knowledge they give us along with a motivation to follow their footsteps if we want to be like them!

The problem is that most people do not know anything about money management skills, I don't really have a problem with rich people buying luxury cars, after all they can afford them, but people buy all kind of luxuries that they do not really need, and while there is nothing wrong with falling into temptation once in a while if you do this consistently then you are going to be consistently out of money.

One perfect example of this are smart phones, I know people that change their smart phones every time a new model comes out and I find this to be perplexing, they just get rid of smart phones that are in complete perfect condition just because they want the newer model and then they complain to me about the fact that they have no money, it doesn't make sense to me but if they want to live their life that way then that is up to them.

[just_Alice]

I do think we have to understand the fact that Knowledge is something that comes from Education. Education is something that does require a lot of investment during this time period and at the same time we have to understand the fact that the government is not at all lenient in granting :
student loans
It is not easy to secure one and at the end of the day even if you successfully get one it's hard to count on the upcoming semester.
Therefore this is something that the government should work for in many countries the education is free like in Germany but then again the finances are a whole different thing.
One can have PhD but at the same time could fail to even get monthly financial stability despite having enough money because most of the times it required consistent  reason , analysis, perspective a lot of experience and the ability to use that knowledge for the greater good.
You can have knowl but it will depend on the fact about how you decide to use this knowledge.
Well for me money is anything that holds a value not just Crypto. It's indeed more important as compared to fiat for me since it's more or so beneficial as a whole to hold it.

The fact that Knowledge comes from Education might be true about the past, but now it's a completely different story. Nowadays most universities are focused on theoretical studying rather than practical application, and that is a very big problem. You finish your classes with tons of information inside your head and no idea about what to do with it. Many professors that educate also know everything just in theory, but in practice, in real life - everything is different. I know all this for a fact, because I was a very hard-working student, graduated top of the class, participated in conferences, etc.
And all of it literally gave me nothing.

Many of my groupmates that were far worse than me are now actually in a better financial state, because while I focused on books and learning, and articles - they focused on earning actual money. And I realized, that searching info on websites, consulting with real specialists, attending webinars, etc turns out to be WAY MORE EFFECTIVE, than all those years of studying.

Damn, I learned much more from this forum, than from all my economics/finance classes at the university! And all of this is FREE, the only thing you need - is effort and the ability to filter information, find reliable sources. You basically need college as a formal requirement now, to get your degree, real knowledge you acquire elsewhere.  

[aioc]

It's been said a million times knowledge is power in every area and all aspects of investment what can you the edge and financial security it always start on what you know and what you know will carry you to the best journey of your life in financial, there are some people who got lucky in winning a lottery or they have inherited a huge amount but if they do not have the proper knowledge on how to use that wealth it's not going to last.

[Shasha80]

Why do many rich people make money easier than poor people. Because the rich have knowledge and know how to make money work for them,
otherwise the poor prefer them to work for money. From simple thinking like this will have a different impact for the future. I worked in an office
for about ten years but I couldn't afford a house and a car, but when I focused on investing and trading in cryptocurrency. It only took two years
for me to be able to buy a house and a car. From my experience, if we want to be rich people must have the knowledge of how to make the money
system work for us.

[zanezane]

Why do many rich people make money easier than poor people. Because the rich have knowledge and know how to make money work for them,
otherwise the poor prefer them to work for money. From simple thinking like this will have a different impact for the future. I worked in an office
for about ten years but I couldn't afford a house and a car, but when I focused on investing and trading in cryptocurrency. It only took two years
for me to be able to buy a house and a car. From my experience, if we want to be rich people must have the knowledge of how to make the money
system work for us.

Because rich people came from rich family and those that were novuea riche were lucky that they found a niche in the market that will make them sell big time, excluding the fact that they come from a family that can afford to lose because of a risk is not a good thing to say when you want to glorify the rich people and to invalidate the efforts of the poor people. Poor people work for money because the moment they stop and it is time's up for them. Sure your testimony will hold up but you sound like you invalidate the hard work that other people that didn't become like you.

[wxa7115]

The fact that Knowledge comes from Education might be true about the past, but now it's a completely different story. Nowadays most universities are focused on theoretical studying rather than practical application, and that is a very big problem. You finish your classes with tons of information inside your head and no idea about what to do with it. Many professors that educate also know everything just in theory, but in practice, in real life - everything is different. I know all this for a fact, because I was a very hard-working student, graduated top of the class, participated in conferences, etc.
And all of it literally gave me nothing.

Many of my groupmates that were far worse than me are now actually in a better financial state, because while I focused on books and learning, and articles - they focused on earning actual money. And I realized, that searching info on websites, consulting with real specialists, attending webinars, etc turns out to be WAY MORE EFFECTIVE, than all those years of studying.

Damn, I learned much more from this forum, than from all my economics/finance classes at the university! And all of this is FREE, the only thing you need - is effort and the ability to filter information, find reliable sources. You basically need college as a formal requirement now, to get your degree, real knowledge you acquire elsewhere.  

You make an interesting point, in my experience what happens is that the academia has lost its touch with the real world, you can learn a lot from it but as you say most of it is theoretical in nature and it is a completely different thing to actually try to put that knowledge into practical use, this is why so many young adults have a problem finding a job when they finish college, the fact they have no experience should not be a problem if what you learned in college was what businesses wanted but since that is not the case then those businesses do not want to waste the time training a person that could not be there anymore during the next months.

This is why I always recommended to anyone that was willing to listen that once you got to the final stages of your college education you begin to look for a job related to your major, that way as soon as your education ends you will have some experience already and finding a better job will be many times easier, so while knowledge is power that is only true if  you have a way to put that knowledge to practical use.

[TheGreatPython]

Why do many rich people make money easier than poor people. Because the rich have knowledge and know how to make money work for them, otherwise the poor prefer them to work for money. From simple thinking like this will have a different impact for the future. I worked in an office for about ten years but I couldn't afford a house and a car, but when I focused on investing and trading in cryptocurrency. It only took two years for me to be able to buy a house and a car. From my experience, if we want to be rich people must have the knowledge of how to make the money system work for us.

It might be true for some cases that lack of knowledge might be a barrier for them in their way to earning big but most of the times its situational problems like if you belong to a middle class family who never had the money to support you, then, despite having the best ideas and highest intelligence you will struggle making money.

Knowledge along with some luck and decent preparation might be the right combination for success and eventually freedom. Knowledge alone can help you think and address problems, but luck is needed for the plans you make to succeed and preparation helps you develop backup plans and making the plans even more robust.

Bitcoin was a combination of all three if you closely observe.

Luck: No one would have known about Bitcoins if Satoshi's wasn't lucky enough to generate enough interest initially.
Knowledge: Someone who created the blockchain idea in 2009, I am not capable enough of talking about his knowledge and skills. His work speaks for him.
Preparation: Things like confirmations on transactions, mining were a result of smart preparations.

[Smartprofit]

As you know clever people are always in demand. But usually they are not traders, they are cool IT-managers, economists, layers, surgeons, owners of huge corporations (last ones usually finish some cool universities like Harvard or Yale and inherit their family business). If they invest in crypto they do this just for fun and to be in trend. They really become famous and rich because of their knowledges.

Robert Kiyosaki wrote in his books that we get what we learn. 

If we want to have a lot of money, we need to study finance.  Our wealth is our focus on financial management.  Every day you need to move in this direction.  Money is not a material object, therefore the laws of movement of money are not physical laws ...

Nevertheless, this is a very important thing for us.  Man is a social animal.  We all live in a society.  Money directly affects the quality of our life. 

I read books on financial management, taxation, economic analysis every day.