Reason why you will never become rich

[CageMabok]

I agree with your points of explanation, we often hear the term "experience is the best teacher for success" meaning that personal experience or other people's experience will move the steps towards success, so we must seek work experience according to expertise or discuss your expertise with experienced people then they will suggest some steps based on their previous business building experience. However, if we want to get rich from trading or investing in crypto then look for people who have experience with good analysis skills on the potential of the crypto market, we must prioritize someone who analyzes top coins and they have steps to minimize the risk of loss.

After we are looking for people who are experienced in certain fields, both in business and in crypto. We ourselves also have to prepare other preparations in order to be able to carry out the suggestions given by these experienced people and also adapt them to the expertise we already have. Because almost everyone living in this world needs other people to get up, whether it's getting up from the bottom in the business sector or getting up from the bottom by learning about crypto trading and investment. The point is that experience will always be needed because it is part of basic knowledge.

[summonerrk]

The first reason why you can never be rich is too much  responsibilities, carrying family problems on your head which we all know family problems are always around the corners and can't be totally eliminated. The best help to offer family is to put yourself in a better financial position,  don't struggle to help family,  struggle to put yourself in a better financial position then take away your from dependency. How do you take them away from dependency? If you have a company or business you are running or a connection,  you can connect your family members to your friends let them work for them so that they can earn their own money or you have a business you are running, they can work for you to earn their own money.  As long as their is still dependency they will continue to depend on you and demand from you.

The second reason why you can never become rich is not knowing how to use money. There are several ways money can be use :  spending,  savings,  and investing.  Many of us already know about spending and even when we spend we spend on things that are not really needed but just to impress people who don't care about you.

Buying liabilities,  things that doesn't have value five years from now.  Many save but even when money is saved,  it is done to spend and not to invest and the only way to become rich is to invest and not by savings.  So , invest in assets and not liabilities.

My first book I read on the subject of finance was Robert Kiyosaki's book "Rich Dad, Poor Dad". And let it seem very simple now, and the truths spoken in it are obvious. But then this book just shocked me. I learned what assets are and what liabilities are, for example, a car can be both an asset and a liability, it all depends on whether you provide taxi services on it.
But all knowledge does not make sense if there is no deposit in order to make a lot of money out of it. And the problem is that a permanent job does not bring a lot of income, the salary from it barely provides for the family. And it does not work out to put it on deposit. That's why most are poor. They can't even lift their heads above the water, forcing themselves to spend all their energy and time on the family.

[Altryist]

My first book I read on the subject of finance was Robert Kiyosaki's book "Rich Dad, Poor Dad". And let it seem very simple now, and the truths spoken in it are obvious. But then this book just shocked me. I learned what assets are and what liabilities are, for example, a car can be both an asset and a liability, it all depends on whether you provide taxi services on it.
But all knowledge does not make sense if there is no deposit in order to make a lot of money out of it. And the problem is that a permanent job does not bring a lot of income, the salary from it barely provides for the family. And it does not work out to put it on deposit. That's why most are poor. They can't even lift their heads above the water, forcing themselves to spend all their energy and time on the family.

The ability to distinguish between assets and liabilities is very important, but not everyone can do it. For example, many people consider real estate an asset, even if it does not bring them any profit, but they believe that one day if they want, they can sell it for more and therefore it is an asset. But it may not rise in price, but rather fall in price, this often happens if the house is not taken care of properly. And the one who creates assets that can make a profit on a monthly basis can become rich, and the more such assets there are, the greater will be the profit.

[lousie9]

The best help to offer family is to put yourself in a better financial position,  don't struggle to help family,  struggle to put yourself in a better financial position then take away your from dependency.

As for investing I agree that it increases our chances of getting rich, but I can't understand what you are saying, what does not having to work hard to help the family and ignoring the family make us rich? I think helping our family will not make us poor. If we can help our family then we help according to our ability, right?.
If we ignore our family in my opinion it gives the impression that we are someone who is better than our other families. In my opinion people who are calculating with their own biological family will not be able to establish connections or communicate with other people because it is clear that this is selfish and selfish.
If we have a succes business, how can a colleague or business partner look good on us if we just ignore our family?.

[mvdheuvel1983]

Buying liabilities,  things that doesn't have value five years from now.  Many save but even when money is saved,  it is done to spend and not to invest and the only way to become rich is to invest and not by savings.  So , invest in assets and not liabilities.

Would you say a car is a liability? I use the car for logistics services and I know quite well that it will depreciate in value five years from now. So, how would you classify this- a liability because it will depreciate in value in the coming years or an asset because it will increase my company's revenue in the coming years?

[Aanuoluwatofunmi]

1. Be passionate about what you do
2. chance factor
3. to have the equipment
4. work hard

Change here is very important and we need to understand the reason why until we make changes to the usual ways of our life things may not really change well for good, it all begins with things we are passionate about, work towards excellence and be determined for perfection in all things, when we give a new approach to how we think and reason, things will definitely change for us in our business, career and life as a whole.

[so98nn]

Lolz, the first one definitely sounds like me. I think this is a pretty close life situation for every common man on the earth irrespective of their geolocation/country. I mean if I am supposed to feed my family, and look after their health, dreams, and desires then yeah I am ending most of the salary on it and thus making it look like what's being explained in the OP. This is what happens to me always. This is why I am working more, having multiple income sources and, basically a bunch of things. But do you know what does that mean? It doesn't mean I am going to be rich soon or the other way around because that is still not enough. I am more or less just living the normal dream and sustaining life. This is definitely a result of inflation, the ever-growing costly affairs of government, infrastructure, and the hard life.

[coin-investor]

Buying liabilities,  things that doesn't have value five years from now.  Many save but even when money is saved,  it is done to spend and not to invest and the only way to become rich is to invest and not by savings.  So , invest in assets and not liabilities.

We have to invest in the right assets not only investing for the sake of investing we can only get rich if we are financially and investment literate you are right that people are saving so they can buy stuff that they want to buy and this is not good, but we should also at all times think of saving for rainy days and to create a profitable portfolio.
People are so materialistic that they want to have the latest gadgets and what's the trending brand in clothing, if we cannot moderate our greed and expenses we can't ever be rich.

[Twentyonepaylots]

Buying liabilities,  things that doesn't have value five years from now.  Many save but even when money is saved,  it is done to spend and not to invest and the only way to become rich is to invest and not by savings.  So , invest in assets and not liabilities.

Would you say a car is a liability? I use the car for logistics services and I know quite well that it will depreciate in value five years from now. So, how would you classify this- a liability because it will depreciate in value in the coming years or an asset because it will increase my company's revenue in the coming years?

I think the statement "invest in assets and not liabilities." should be more expounded. When it comes to investing, there needs to be more clarity about what constitutes an asset versus a liability. Many people mistakenly believe that buying a big house or a fancy car is an asset when in reality, these are liabilities that drain your finances.

Instead, smart investors know that actual assets generate income and appreciate in value over time. This can include things like stocks, bonds, rental properties, or even a small business. These assets can grow your wealth and secure your financial future, which we can relate to the car which I assume is acquired through loan. In a sense, it is a liability because it is an obligation of past event that will result in an outflow, but at the same time the car (asset) is giving you an inflow through using it for logistics services.

That is why, it's important to do your research and make informed decisions when it comes to investing. You'll want to weigh the potential risks and rewards of any investment opportunity and make sure that you're confident with the level of risk involved no matter will be its results.

[Essential10]

The first reason why you can never be rich is too much  responsibilities, carrying family problems on your head which we all know family problems are always around the corners and can't be totally eliminated. The best help to offer family is to put yourself in a better financial position,  don't struggle to help family,  struggle to put yourself in a better financial position then take away your from dependency. How do you take them away from dependency? If you have a company or business you are running or a connection,  you can connect your family members to your friends let them work for them so that they can earn their own money or you have a business you are running, they can work for you to earn their own money.  As long as their is still dependency they will continue to depend on you and demand from you.

The second reason why you can never become rich is not knowing how to use money. There are several ways money can be use :  spending,  savings,  and investing.  Many of us already know about spending and even when we spend we spend on things that are not really needed but just to impress people who don't care about you.

Buying liabilities,  things that doesn't have value five years from now.  Many save but even when money is saved,  it is done to spend and not to invest and the only way to become rich is to invest and not by savings.  So , invest in assets and not liabilities.

You don't know what's in store for you. Who doesn't want to be rich?  Admit it or not, more or less everyone aspires to be rich. There are many reasons for not being rich. Most of the people in today's age spend hours and hours watching various sports. The reason you can't get rich is because you hang out too much. One of the reasons for not being rich is laziness and lack of proper planning. If someone thinks that I am not studying or I am not able to study so I will leave my studies and do business then the first thing that will come to his mind is what people will say. Yes I agree that investing is the only easy way to get rich. Those who try to do good work to fulfill their dreams in life. They lead life by following their dreams.

[Compromise me]

Snip ~

The only difference between rich and poor is thinking. The rich people invest in assets that put money in their pockets and poor people buy liabilities like they will buy motor cycle but they have not enough resource to be able to buy petrol. They buy mobil phone on monthly installments. In comparison, rich people invest in assets like they buy property that  will increase its value. Poor people spend money in things that show they are rich but in reality they are poor. Rich people invest in real assets like they buy running businesses. Poor people save currency and currency value is in control of government. Rich people invest in real money like they invest in gold that retain its value.

[bangjoe]

Snip ~

The only difference between rich and poor is thinking. The rich people invest in assets that put money in their pockets and poor people buy liabilities like they will buy motor cycle but they have not enough resource to be able to buy petrol. They buy mobil phone on monthly installments. In comparison, rich people invest in assets like they buy property that  will increase its value. Poor people spend money in things that show they are rich but in reality they are poor. Rich people invest in real assets like they buy running businesses. Poor people save currency and currency value is in control of government. Rich people invest in real money like they invest in gold that retain its value.

I agrees with you, that the most prominent difference is the mindset, both in using money, managing expenses, giving abilities and increasing their life value by shaping themselves better, that is the average of the rich position themselves in all fields To be in a better position economically and his life, and on average the poor do not have a mindset about how he uses money to get more money, they use the money he has only for what he wants and makes prestige as the first order They think rather than adding their income. Poor people usually like things that make him comfortable in the zone that does not make it better, and I feel that what happens to my parents, it makes me understand why my parents are not in the best position in the economic world.

[armanda90]

The only difference between rich and poor is thinking. The rich people invest in assets that put money in their pockets and poor people buy liabilities like they will buy motor cycle but they have not enough resource to be able to buy petrol. They buy mobil phone on monthly installments. In comparison, rich people invest in assets like they buy property that  will increase its value. Poor people spend money in things that show they are rich but in reality they are poor. Rich people invest in real assets like they buy running businesses. Poor people save currency and currency value is in control of government. Rich people invest in real money like they invest in gold that retain its value.

Trues, rich person keep thinking how to make their money more increasing at the future trough investment assets and collect some property until high values assets in the future, but for poor people mindset they are trying save money in the bank and worry use it for investment fund and get increasing up later. But have some fatal mistake from poor people less knowledge with wrong investment like hype due easily earn money without harking work.

Before having much money or become rich person, need to manage well money management and good planning in the future after having money which one side worth for investment, not only in cryptocurrency many real business side profitable at the future depend manage well spent with our money.

[ZAINmalik75]

The only difference between rich and poor is thinking. The rich people invest in assets that put money in their pockets and poor people buy liabilities like they will buy motor cycle but they have not enough resource to be able to buy petrol. They buy mobil phone on monthly installments. In comparison, rich people invest in assets like they buy property that  will increase its value. Poor people spend money in things that show they are rich but in reality they are poor. Rich people invest in real assets like they buy running businesses. Poor people save currency and currency value is in control of government. Rich people invest in real money like they invest in gold that retain its value.

Here I completely agreed with you about this all because right now same things happening around us, and we are not doing anything positive for bringing change even we are going deepen in this all even few societies and countries are going from bad to worse just because of this all they fail to bring better changes in their system and peoples dug out with these things as like if someone can start from small investment, but he is not interested and going to buy luxurious things which are not helpful for him in long run.
Recently I have many peoples around me those are bank-corrupt due to their bad investments and having no proper strategy but once anyone is having rich he is going to have better things in life even his profit is increasing because he is doing things with the purpose of long term investment which is surely helpful for him and his all strategy.

[puloweh555]

Because I think 97% of success is determined by mindset, so we need to change our mindset. There are to me five reasons most people never get rich.
1. Not believing life can change.
2. Have no plans to get rich.
3. Good at making excuses.
4. Don't know financial management.
5. Have no purpose in life.

But for success, it's not just that we have a lot of money but success is when we can make other people have hope and when we already have a lot of money and can raise the hopes of many other people.

[stomachgrowls]

Snip ~

The only difference between rich and poor is thinking. The rich people invest in assets that put money in their pockets and poor people buy liabilities like they will buy motor cycle but they have not enough resource to be able to buy petrol. They buy mobil phone on monthly installments. In comparison, rich people invest in assets like they buy property that  will increase its value. Poor people spend money in things that show they are rich but in reality they are poor. Rich people invest in real assets like they buy running businesses. Poor people save currency and currency value is in control of government. Rich people invest in real money like they invest in gold that retain its value.

I agrees with you, that the most prominent difference is the mindset, both in using money, managing expenses, giving abilities and increasing their life value by shaping themselves better, that is the average of the rich position themselves in all fields To be in a better position economically and his life, and on average the poor do not have a mindset about how he uses money to get more money, they use the money he has only for what he wants and makes prestige as the first order They think rather than adding their income. Poor people usually like things that make him comfortable in the zone that does not make it better, and I feel that what happens to my parents, it makes me understand why my parents are not in the best position in the economic world.

But if you do make yourself get in trap with this kind or type of situation on which you are really that making yourself that supporting out your family and having those continuous expenses then for sure you would really be

trapping yourself on a condition on which you wont really be making see yourself on having a progress.Somehow, it cant really be that avoided that you would really be having the felling or responsibility when it comes to your family because there are really that feeling which you do need to help which it is one of the things that would hinders out your success or progress. In speaking about buying out liabilities like cars or other possessions that doesnt really appreciate when it comes to value or doesnt really generate out income then you would really be finding yourself on struggling later on, on the time that they would really be asking for some maintenances on which it would be adding up on the expenses and on the time that you are just earning sufficient then it would really be putting you on a tough situation.Just like on what most people been saying on here that it would really matter on your mindset and money management because if you arent that mindful about these things then you wont really be realizing that you are spending that much on something that you shouldnt really be spending on just because its there and you have purchased it which it would really be included into your responsibility on maintaining it of course.

[Abu-Naim]

Because I think 97% of success is determined by mindset, so we need to change our mindset. There are to me five reasons most people never get rich.
1. Not believing life can change.
2. Have no plans to get rich.
3. Good at making excuses.
4. Don't know financial management.
5. Have no purpose in life.

But for success, it's not just that we have a lot of money but success is when we can make other people have hope and when we already have a lot of money and can raise the hopes of many other people.

If you don't put in the effort to learn new things, put in some hard work, and have the belief that you can succeed in life, having the intention of succeeding won't make you successful.

If you are unable to take risks, no matter how much you believe in your plans to get wealthy, they will never materialize. In my experience, the bigger the risk taken, the greater the benefit, and vice versa.

[macson]

The first reason why you can never be rich is too much  responsibilities, carrying family problems on your head which we all know family problems are always around the corners and can't be totally eliminated. The best help to offer family is to put yourself in a better financial position,  don't struggle to help family,  struggle to put yourself in a better financial position then take away your from dependency. How do you take them away from dependency? If you have a company or business you are running or a connection,  you can connect your family members to your friends let them work for them so that they can earn their own money or you have a business you are running, they can work for you to earn their own money.  As long as their is still dependency they will continue to depend on you and demand from you.

The second reason why you can never become rich is not knowing how to use money. There are several ways money can be use :  spending,  savings,  and investing.  Many of us already know about spending and even when we spend we spend on things that are not really needed but just to impress people who don't care about you.

Buying liabilities,  things that doesn't have value five years from now.  Many save but even when money is saved,  it is done to spend and not to invest and the only way to become rich is to invest and not by savings.  So , invest in assets and not liabilities.

i forgot where i heard that, but they say the Chinese have a belief that taking care of their parents will increase the fortune of the children who take care of it and the money will keep coming and believe it or not, i see a lot of these words really effective for them.  i live far from my parents but i remember their sacrifice to me so i always send money to them regularly, saving is important but saving kindness to my parents is far more important, be rich because of your hard work and smart work,  don't be stingy with old parent, nature will hate you.

[GeorgeJohn]

Buying liabilities,  things that doesn't have value five years from now.  Many save but even when money is saved,  it is done to spend and not to invest and the only way to become rich is to invest and not by savings.  So , invest in assets and not liabilities.

Would you say a car is a liability? I use the car for logistics services and I know quite well that it will depreciate in value five years from now. So, how would you classify this- a liability because it will depreciate in value in the coming years or an asset because it will increase my company's revenue in the coming years?

Before we can conclude that a car is a liability it depends on what you use the car for, some times when we use a car for business and the business is bringing a passive income that car is not a liability.

The car we should conclude as a liability is car we know the only function of the car is for a casual movement, so when you are using a car for a casual and it doesn't add any function to your weekly and monthly income I believe that it's call a casual movement, let me say in generally that car can be casual to you depends on how you use the car.

[Fakhrulenclix]

Buying liabilities,  things that doesn't have value five years from now.  Many save but even when money is saved,  it is done to spend and not to invest and the only way to become rich is to invest and not by savings.  So , invest in assets and not liabilities.

Would you say a car is a liability? I use the car for logistics services and I know quite well that it will depreciate in value five years from now. So, how would you classify this- a liability because it will depreciate in value in the coming years or an asset because it will increase my company's revenue in the coming years?

Before we can conclude that a car is a liability it depends on what you use the car for, some times when we use a car for business and the business is bringing a passive income that car is not a liability.

The car we should conclude as a liability is car we know the only function of the car is for a casual movement, so when you are using a car for a casual and it doesn't add any function to your weekly and monthly income I believe that it's call a casual movement, let me say in generally that car can be casual to you depends on how you use the car.

Yes, it all depends on needs. Sometimes there are people who use cars for business needs and there are also those for convenience and to save on public transportation costs, so we cannot conclude that cars are the reason, in fact I think the opposite.
In my opinion, buying something that is not useful in life, only fulfilling desires without any effect on needs or convenience is a barrier to stabilizing our economy, and that cannot be said because everyone will be different.