Financial freedom and success comes from knowledge

[AniviaBtc]

Maybe you are right from your point of view. But my point of view is little bit different from you i believe you won't get success if you give up. No matter how much talent, luck you have. I belive luck is 1%, talent 1% work for our success because our most wanted thing is called do not give up. It is the most needy things for everyone who dreams a successful life. Because success dosen't comes fast it comes slowly. That is why we can say it is not luck it takes time so we do not give up. We just stay with our plan and work on our plan. Just do this thing and see the result. Just don't give up.

There's always no room for quitter in an investment because we need to understand that it is full of risks.

We can't eliminate risks, but we can lessen it and prevent it depending on how are we going to deal with it for the sake of success.

I don't think that talent is only 1% when you don't have any talent, then you're nothing even if you are a hard working person. Being a talented person can really help you achieve the things that you want and it will help you not rely on luck. A hardworking person without talent will just become an average person just like the others so try to stand out and make yourself a successful investor.

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[Hulhala15]

I see the point of this thread but I think it is a little bit exaggerated.
Knowledge is essential and if you want to achieve something, you need to learn a lot and master different skills. Surely, you should know how to manage the budget and how to make it. Especially during the times of uncertainty and volatility you need to make the right decisions quite fast in order to make everything on time. However, from my perspective, the author of the thread exaggerates with some basic economic principles. Surely, the basics of how the money is created is fundamentals, but it doesn't really mean that we all should learn the long history of money. The same thing about sec and fed. I mean it may be important for someone who works on the Wall Street, but it doesn't mean that everyone should possess such knowledge.
I believe, the main thing that investor/trader should know is that before investing you should know what you invest in and what are the pecularities of this or that financial instrument.

[goldade]

It is true that to actually achieve success in anything and not just financially, you need knowledge. This is true if anything, whatsoever. To be a doctor, you need the knowledge and not just knowledge but the right knowledge.
If anyone would achieve financial freedom and success then such person definitely needs financial knowledge. The knowledge will enable such person understand how money works and how, by putting money to work, make more money.

[kapalmabur]

It is true that to actually achieve success in anything and not just financially, you need knowledge. This is true if anything, whatsoever. To be a doctor, you need the knowledge and not just knowledge but the right knowledge.
If anyone would achieve financial freedom and success then such person definitely needs financial knowledge. The knowledge will enable such person understand how money works and how, by putting money to work, make more money.

That's true and for me personally knowledge is very important,
without us having knowledge i don't think we can be successful,
because after all a success of course begins with first knowledge and the more we have extensive knowledge the greater our chances of achieving success

[Bigmikie]

Financial feedom comes from knowing what money is how to spend and how to invest. Now lets analyse
1. Knowing Money means doing legitimate business or giving legitimate service inorder to be paid and where the knowledge comes in is that you know that you dont have to beg just like some people do to earn a living and so therefore it is mandatory to work and earn.
2.How To Spend, Now understand that how to spend and how to invest goes to but the only difference is what you do to retain back means of earning more which is asset of which can only be gotten through good investment .

[Clavulanic]

Financial freedom is when people are out of debt and mostly the key to be free is when we know and identify our needs and wants. Buy only our most basic needs with reference to our budget and not getting what we want that lead us to lend money from someone.

[bitzizzix]

Financial success is certainly everyone's dream, but it must be based on sufficient knowledge to achieve it and to be able to achieve financial success is the ability to save and invest from an early age.
It's not something strange if the digital world is a part of our lives that must be put to good use because financial capabilities supported by digitalization advances will have an impact on one's success, don't give up easily and keep trying to adapt. technological advancements to create financial security and peace for today in the future and this industry is the right choice.

[Coroline]

Financial success is certainly everyone's dream, but it must be based on sufficient knowledge to achieve it and to be able to achieve financial success is the ability to save and invest from an early age.
It's not something strange if the digital world is a part of our lives that must be put to good use because financial capabilities supported by digitalization advances will have an impact on one's success, don't give up easily and keep trying to adapt. technological advancements to create financial security and peace for today in the future and this industry is the right choice.

But don't just invest, choose the right business or instrument so that it can provide the benefits you expect. You can invest by buying land or houses that can be resold at a higher price than the purchase price. Investing in a boarding house or rented house is also a very promising investment. In addition, investment can also be done by buying shares or mutual funds. Another option is to invest your money in a startup company that has good growth.

The conclusion that can be drawn is that if you have achieved financial freedom, then your financial condition is very good. You don't dwell in debt and your income is far greater than the cost of living. Financial freedom also provides a guarantee for a bright future as long as you can manage your finances well and invest in the right place.

[wahyu wida]

to get financial freedom, of course, can not be obtained suddenly, except for people who are lucky or come from families who are already rich. but to pioneer financial freedom yourself, I think it takes a process and goes through many problems until we finally understand the advantages and disadvantages of the business we run

[pealr12]

No strategy works better than understanding the market, know when to buy and sell when it comes to crypto investment, if you fail to take advantage of the high price and rather hodl for whatever weird reason it will cost you the opportunity to multiply your stash, sell at the right time and buy back when necessary is the way I see anyone growing their investment, I have learnt this past few weeks.

[Snappycoco]

That's how rich become richer by legally avoiding taxes i.e. in my country your money will not be taxed only if it was donated. Rich people really hated tax and they study how to get rid of that by reading the constitutions which poor people lacks of. Aside from that, lacks of knowledge with these kind of forum makes it harder for newbies of crypto understand crypto is and with that they're avoiding it.

[Renampun]

...

learning how the economy works, when to enter and exit an investment is important...

I salute how the richest people make money, abilities like them are not available in a short time, it takes years of hard work and analysis to be able to do things like them. we have to force ourselves to be able to learn like them.

[fullhdpixel]

Financial freedom is when people are out of debt and mostly the key to be free is when we know and identify our needs and wants. Buy only our most basic needs with reference to our budget and not getting what we want that lead us to lend money from someone.

Not having debts could be called as financial stability but I would say financial freedom is when you don't have to think about earning money and planning your next day. You know you will have enough even if you are going to do nothing, either through investments or other kinds of setups.

In simple words, one doesn't have to think about his bills and has enough time to invest in things they want to do in life. Elon Musk for instance is a good example of someone having financial freedom. He can sit back and relax without having to worry about money but because he follows his passion, the guy is still working hard. That to me, is financial freedom where one is doing something without the sole intention of earning money.

[Lorence.xD]

Don't forget that a bit of hard work, connections and drive to perfection is going to be needed for a success too. I mean there's really no one size fits all formula for success in anything, you can make money without connections, or without hard work or determination.

[ziennakarishma21]

If someone is good with money it means he or she knows a lot about money .
You can say that you are not interested about money and financial system...welll the covid 19 was good example tgat you need to know about money

Before the covid the richest people sold their assets why so ? You think it was inside info ? No it wasnt they just know about money

And crypto is money and when you dont know about money then you shouldnt be in crypto ...
Or you stay in crypto learn hard and its a miracle you learn more about money


Now days when we face the facts that  most of the money will go in. Crypto and stock commoties markets and real business ownership will need to have state licenses ....
The you realise that you must learn.
...those main things :

When the economic circle start amd when it finish
When to buy and whem to sell
How to know if its just FUD/ shake out the weak hands or actual financial liauitity crisis ?

How do you know how the sec and fed working together ?
How the money is created?

Sounds like a boring right ?
Sounds like a lot of small details what the cool dude like you shouldnt know ? Right ?

But this is fundamentals and if you dont know this then you are not going to be rich unlikely.

Covid 19 is good example main rule:
When markets are bullish make money like there is no tomorrow becouse you need that money when everything goes down.

First rule: if you can swich your location for better to optimize your taxes do so.

The saved. 40% on taxes of 1 mil is your wealth saver in future.


Live by 5 years  plan make your wealth plan in 5 years plan


Still sounds like boring right ?
How does that sounds whem everybody is suffering you drive your nice rolce royce drinking some nice jack daniels relaxing at the beach...isnt that cool ?sure you want good thimgs but before that you have to go over a lot boring things


Finally you must learn how the system works thats how the richest guys makes their money and if you think you dont need that ? Well the extra wealth dont hurt you anyways




World is scam and fraud so you better learn how the scammers and fraudsters will try to scam you legally and not so legally but its all scam so scam

Yes, you are right, to be successful we need knowledge like a profitable BTC investment, why do I invest in it because I know that the BTC platform is a strong and long-term foundation, in the future will be words for me. and those who don't know and have no knowledge they can't succeed nor BTC they always consider it a scam

[Rruchi man]

Financial freedom and success comes from applied knowledge. Personally I believe that self-education trumps formal education. Jim Rohn once said, “formal education will make you a living; self-education will make you a fortune.” I'm pretty sure that the Bitcoin whales we have in the world 🌍 today didn't acquire their knowledge of cryptocurrency through formal education but were self-taught. And one of the best ways to make a lot of money 💰and be financially free and successful is to understudy those who are already financially successful.

There's always going to be a bull and a bear market, there's always going to be  FUD, there's always going to be shitcoins, there's always going to be pump and dump seasons, there's always going to be a bearwhale and what-have -you. It is in these times that your knowledge will truly be tested and if applied accurately can result in huge financial gains. Ofcourse the reverse is the case.

[perfect999]

No strategy works better than understanding the market, know when to buy and sell when it comes to crypto investment, if you fail to take advantage of the high price and rather hodl for whatever weird reason it will cost you the opportunity to multiply your stash, sell at the right time and buy back when necessary is the way I see anyone growing their investment, I have learnt this past few weeks.

Although what you are saying might be true, it's completely pointless in the current discussion because as a trader you would never have financial freedom because a trader is similar to a daily wager worker who needs to work to feed his family.

At a young age, a person must learn how to handle finances. Must know how to save for the future. Invest to make money grow. Set goals to achieve it. Avoid debts.

That's why I strongly feel schools must have something in the course that teaches kids about economics and what are the advantages of managing your financial status. What are the problems that come with loans and when one should take a loan.

Everyone is chasing money right not but the one who gathers the most knowledge is the one who has evolved the most, according to me.

[dezoel]

Sure what you have said is right. Just like when I don’t know much about money, I will just be making savings by using my country’s currency that keeps losing depreciating and losing value over time. But when I started to gain knowledge about money and learn about cryptocurrency and other things, that’s when I realized that I need to have my money invested in other currencies that are stronger, and in good assets that will grow over time and use them as a hedge.

So now I don’t just hold my local currency as savings, I try to convert to other currencies and invest in lands, and cryptocurrency, and so many other things that can help build my wealth. At first it will be difficult for you to start, but when you finally start, you’re going to be the one to benefit from it.

[Ausgewielt]

I think that sounds like little bit pessimistic. I believe that the world is still a good environment to live although some economic system is not good. I don't think that the world is scam and fraud, but I believe that there are some group that force us to live in a system they made. That is one of reasons why I choose cryptocurrency as investment.  Being smart and have many knowledge will ease us to get financial freedom but it's not a guarantee, a good manner will prevent someone to do bad thing that may drag him or her into poverty.

[iv4n]

I think that sounds like little bit pessimistic. I believe that the world is still a good environment to leave although some economic system is not good. I don't think that the world is scam and fraud, but I believe that there are some group that force us to live in a system they made. That is one of reasons why I choose cryptocurrency as investment.  Being smart and have many knowledge will ease us to get financial freedom but it's not a guarantee, a good manner will prevent someone to do bad thing that may drag him or her into poverty.

I agree, the world is not a dark pessimistic place. There are tons of opportunities for us to change our lifes and profit of the current economic system. Just compare todays world back to how the people lived 100 or 1000 years ago. We have it much better than the people before us. Imagine working as a 14 year old in a coal mine all week. Or imagine being the subject of a king and having no freedom at all. Financial freedom might be hard to achieve, but still we have a better life today. Iceland now is changing to a 4 working days week. Just a matter of time until other countries will follow.

Today people definitely live better and more comfortably compared with how people lived centuries ago! But I also think that the world is far from Iceland's standards! Simply they are centuries in the future, it will be hard for some countries to get there! So while Iceland is changing to 4 working days a week after a successful experiment (experiment lasted a few years), in my country working week is all week! There was some discussion for Sunday to be a free day for all, but our president said because he is working 25h every day and 8 days every week, we must follow him!

Knowledge is just one factor, to get to some freedom (including financial one) and some success, you need to have more than just pure knowledge!