Building wealth it's not just one time Luck

[Shortboss]

It's the process of making money and reinvest make money and reinvest.
If you made just some lucky 10x profit but you can't keep up your stradegy for the long term then you don't build any wealth.



If we talking about trading and you don't build wealth with starting capital of 50$ then you woun't do it with 1000,3000,5000 either.
If we talking about real estate , first you need to understood the " mortgage markets " If you make like 10 year Investment plan because you been told real estate always good Investment then it's gamble everything what you don't know about and can't control it's gamble. And gamblimg is not business so dont call yourself like investor or traders
You think by holding the gold,silver and you always stay in profit that kind of mindset it's gamble not investing.
You think inflation always goes up and money printers working always its also the gamble.

You need to know everything about the topic you deal with specially when money is involved.

2023 year Will be good year to teach you Lesson don't take nothing for granted but learn first how it works.

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[Poker Player]

You sound a lot like cryptoboss alt account or similar accounts to me. I guess I'll end up putting you on ignore but since I haven't yet, I'll reply.

Of course, it's not about one time luck, that happens if you win the lottery, and we don't call that "building" wealth.

If we talking about trading and you don't build wealth with starting capital of 50$ then you woun't do it with 1000,3000,5000 either.

No one builds significant wealth from trading with an initial capital of $50 without making additions. 

The rest of what you say are half-truths mixed with bullshit, but I'm going to stick with the positive: building wealth is a process where you have to know what you are doing, create a plan and follow it, which involves investing over long periods of time.

[Upgrade00]

If we talking about trading and you don't build wealth with starting capital of 50$ then you woun't do it with 1000,3000,5000 either.

That's not how it works at all.
You can profit reasonably with $50 if you're lucky not to get liquidated first but you cannot build wealth with that. You need capital to have more room to stay in the game cause trades will not always go in your favour no matter how skilled you are.

Gambling is a huge part of investing and growing wealth.

[PytagoraZ]

You're talking about a $50 investment and you're talking about real estate? As crazy as it sounds, no investment will generate much profit with $50 of capital. You need more money, I think if you don't have money to invest, it's better to focus on increasing your monthly income, if you have enough money left for living needs, then think about investing.

[Poker Player]

Gambling is a huge part of investing and growing wealth.

I couldn't disagree more with this. From experience I can talk about building wealth, and I will not give you concrete data about quantities because you will have no way to check if I am telling the truth but according to my experience building wealth is a simple process, following a boring plan as follows:

1) Control income and expenses.
2) Spend less than you earn.
3) If you have consumer debt, get rid of it as fast as you can. And never get into consumer debt again.
4) Increase your income and get different sources of income.
5) Invest, invest, invest.

This is in line with the two most comprehensive studies on millionaires that have been done to date: The Millionaire Next Door and Everyday Millionaires.

[PytagoraZ]

~snip~  following a boring plan as follows:

1) Control income and expenses.
2) Spend less than you earn.
3) If you have consumer debt, get rid of it as fast as you can. And never get into consumer debt again.
4) Increase your income and get different sources of income.
5) Invest, invest, invest.

hahaha... I like your sentence. In essence, we have to live frugally and set aside money. The best way is to increase our monthly income so that we don't need to be too frugal because income is greater than expenses. However, in practice it is not easy, but it can be done. Youth needs to be utilized because the energy and mind are still strong enough to think about many things

[blockman]

The management part comes to play a big part in your wealth accumulation and retention. When you've been earning a lot of money and you invest it in many things but you're no good in management, you'll be torn apart and that's for real and no joke. While I do agree with what you've said, there are those people that can't retain what they're able to acquire and that's giving them the toughest lesson of their lives.
Because many that were able to accumulate wealth that came from nothing into something, don't know what to do and how to maintain it. Thus, they spend it in luxurious things that aren't income generating because the justification is that they deserve it. It's no problem and someone truly deserve it after hard work but don't put all that you have got in it.

[karabiber]

Gambling is a huge part of investing and growing wealth.

I couldn't disagree more with this. From experience I can talk about building wealth, and I will not give you concrete data about quantities because you will have no way to check if I am telling the truth but according to my experience building wealth is a simple process, following a boring plan as follows:

1) Control income and expenses.
2) Spend less than you earn.
3) If you have consumer debt, get rid of it as fast as you can. And never get into consumer debt again.
4) Increase your income and get different sources of income.
5) Invest, invest, invest.

You can invest by doing these things but only if everything goes well and you are prepared to spend 2/3 of your life. If I was living in the 1960s I would have done all of these things but nowadays you have to take into account that the liberal system puts you in debt to get rich. Debt is not something to be afraid of and when used correctly it can make you rich. We are living in a time of increasing inflation in the world and saving money may not be wise.

If you want to invest in this situation, the most sensible thing to do is to invest with debt or credit. However, you need to be careful when doing so. If you don't make the right moves, the debt or loan you take can also drag you into the depths of misery.

[Baofeng]

It's the process of making money and reinvest make money and reinvest.
If you made just some lucky 10x profit but you can't keep up your stradegy for the long term then you don't build any wealth.

It's easy as it sounds though, it takes a lot of mentality whether you are 18 or 80 years old to make generational wealth.

If we talking about trading and you don't build wealth with starting capital of 50$ then you woun't do it with 1000,3000,5000 either.

Of course, $50 will not bring you anything, I mean that is too small and it you need extreme luck to be able to make it even x10 or higher. So it's better to start big and let your money be your friend. Built it slowly or aggressively, it all depends on how you are going to do and accomplished your goal in the end. As much as we teach people I think only 1% will really learn how to build wealth and riches.

[Lida93]

If we talking about trading and you don't build wealth with starting capital of 50$ then you woun't do it with 1000,3000,5000 either.
If we talking about real estate , first you need to understood the " mortgage markets " If you make like 10 year Investment plan because you been told real estate always good Investment then it's gamble everything what you don't know about and can't control it's gamble. And gamblimg is not business so dont call yourself like investor or traders

Just had to take time to read your mixture of crap and a bit relative sense though. You sound like a business coach or a motivational speaker with a misplaced priority.

What tone of wealth will anyone build using $50 as start-up capital in this harsh economic dispensation and the crazy side of it is that you're talking about a real estate business for such meager amount that can't pay one worker salary in real estate management companies.

You just don't compare real estate investment to gambling, no  you don't do that. They are two different world apart, gambling is never an investment source and still not, so cut the crap and come back when you have something perfect for us to examine not this collateral junk.

[Husires]

Humans always love little work and big gains, and they feel unfair if they work long hours without achieving any profit, and they are very happy when they hear phrases such as, work from your home without getting tired and get 5 thousand dollars a day, or a way to convert a thousand dollars into a million dollars, or how it became Get rich without effort and invest in X cryptocurrency. All of these speeches incite emotions and are exploited by scammers and pioneers of human wishful thinking. Therefore, pyramid marketing schemes find their way to approval from individuals who are eager to get rich quickly and want to live like the rich live. Trading without a good financial background and investment is a quick way to lose money.

[rat03gopoh]

If we talking about trading and you don't build wealth with starting capital of 50$ then you woun't do it with 1000,3000,5000 either.

No exception for you, I'm sure $50 is only a small amount that the average citizen of a poor country can afford. On the other hand, how rich would you be right now with $50? I saw your initiative in another post to set up a trading signals group.

Sl: 0.1630

Btw, did you bet $50 on this entry, it should have executed. May your group members not become poorer.

[Stepstowealth]

If we talking about trading and you don't build wealth with starting capital of 50$ then you woun't do it with 1000,3000,5000 either.

Building wealth requires a very disciplined and financially intelligent approach to accomplish. And for someone wanting to be wealthy, money management starts from the little you earn or have first before money management for when you start earning bigger amounts. Money management involves how to manage what you have so you can have enough for investing, because it is from having proper investments that wealth comes. So I support the statement you have made that if you cannot build wealth with small money, you will not do it with big money.

[icalical]

Building wealth is always a long run, doesn't matter what industry you are in, not only crypto, in any business. The only way to be wealthy in a quicktime is by over-exploiting, and violating ethics. Many people could became rich, but only small amount of those rich people could become wealthy, a one-time luck could get you 50 Million, but keep those money and use it to build wealth is something that required a lot more than luck.

[KingsDen]

Building wealth is always a long run, doesn't matter what industry you are in, not only crypto, in any business. The only way to be wealthy in a quicktime is by over-exploiting, and violating ethics. Many people could became rich, but only small amount of those rich people could become wealthy, a one-time luck could get you 50 Million, but keep those money and use it to build wealth is something that required a lot more than luck.

Building wealth is one of the most difficult things to do. Most of the wealthy people you see today are the ones that inherited their wealth from their parents. This generation has the ability to make money, but the ability to multiply that money is where the problem lies. In order to have a generational wealth there should be able to have a consistent kind of investment over the years. This will no doubt open the door of generational wealth. When it is time for investment, invest only in things that you will not likely lose your money. Money is hard to earn but easy to lose. Avoid any kind of investment that will make you to lose money and and curtail your expenses. This is the way to building wealth.

[DeathAngel]

Not many things that are really good come easily, building wealth is no different. You could have limited access to quality education & resources which can hinder financial knowledge & skills necessary for wealth accumulation. Economic disparities, systemic inequalities & a lack of opportunities can handicap you. Building wealth requires discipline, long term planning & patience which can be difficult. You could say a lot of luck is even needed.

There could be unforeseen circumstances like economic downturns or personal setbacks that can impact wealth building efforts. But with determination, financial literacy & strategic decision making it is possible to overcome these obstacles & build wealth.

[jrrsparkles]

If we talking about trading and you don't build wealth with starting capital of 50$ then you woun't do it with 1000,3000,5000 either.

Disagreed. Starting with $50 is not the same as starting with $5K and let me remind you that chances of withdrawing any profits you made from $50 will take months but with $50 it's going to be in seconds and the next big thing is withdrawal fees on exchanges so more money you withdraw the fee will become negligible and with your 50 dollars it is going to eat your capital in two withdrawal alone.

Building wealth or winning the lottery but it all ends up with the money on our hands so if you succeed with doing it even once then why not another time?

[Peanutswar]

People keep chasing too much to earn money, Based on the statement better to focus on one field it's too hard to manage all of those things, seek for better opportunities stick to the things you are good too and once you master make new challenges through trying another thing. Not all starts with a good run of making a profit you will experience ups and downs There's no consistent winning in life. You can't earn a lot of money if you don't take a risk and gamble the funds you have. Top earners make a lot of failures and lose a lot but they keep taking risks to become successful.

[yhiaali3]

There is no wealth that comes easily except through luck, such as gambling or inheritance, or through long-term investment in projects in which you have sufficient knowledge and experience.

But as I see it, most of the successful wealthy people who built their wealth on their own have achieved their wealth by investing in a new field. When a new technology or new invention appears, there is a great opportunity to achieve profits by trying to take advantage of the great profit opportunities and little competition, when the field of investment is new. Big profits can be made since there is little competition in the beginning.

[Adams0001]

It's the process of making money and reinvest make money and reinvest.
If you made just some lucky 10x profit but you can't keep up your stradegy for the long term then you don't build any wealth.

Reinvesting of your profit without good plan after gaining a lot of profit from the first investment can lead to total loss of money. Reinvesting with your capital, inclusive with the profit makes it more riskier without a proper investment strategy to achieve what was achieved the first time. You can’t always be lucky, but the smartest and most knowledgeable investors continue to win is such market.

If we talking about trading and you don't build wealth with starting capital of 50$ then you woun't do it with 1000,3000,5000 either.

$50 can also be your starting point in trading. You can continue adding more as you become more perfect in trading. Adding more money as startup capital does not guarantee you success in trading, but you are able to manage and place trade through knowledge you have achieved will help you do that. Perfection matters here more than the startup capital.