WillyAp
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Looking for guilt best look first into a mirror
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December 27, 2023, 06:20:41 PM |
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Well for me there are two types of wealthy people one of them loves a lavish and luxurious lifestyle with super car collections, yacht, private jets, expensive watches, bags, shoes,
Those are the actors of social media, rented lambos and such.
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icalical
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December 29, 2023, 03:33:17 AM |
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REIT is definitely getting popular before COVID happened, but for now I wouldn't put my money into REIT. REIT performance will always depend and under the Real Estate market, if the real estate is good then REIT will be fine, and when Real Estate market is bad REIT is worse. If you are a full-time worker and need a true stable passive income, Government bonds would be better option for current situation since the real estate market is not that good either.
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Mauser
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December 30, 2023, 12:33:12 PM |
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But one thing for sure people specially the real estate and even CAR owners will be burdened with a lot taxes and liabilities by the goverments around the world. That's why i stay out of trouble by not allmost owning nothing or any liabilities on my name as possible.
Not sure if owning nothing is really the way to become rich. I understand your argument, but if we look back at history it's actually the opposite, most people got rich by owning a company and see the value of that company rise in value. Business owners have more risk than the average person, all their money and wealth is one company, whereas investors usually spread their money across a wider range of assets. Only once the business owners become rich, they might sell a part of their company and diversify in properties, yachts, luxury cars or art. Taxes are usually a portion based on profits, so only if we make a lot of money we have to pay a lot of taxes. Also the more money you have the better your tax specialist is going to be and you can use a wider range of options to save taxes, like creating a family trust.
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Baki202
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December 30, 2023, 01:41:13 PM |
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Well for me there are two types of wealthy people one of them loves a lavish and luxurious lifestyle with super car collections, yacht, private jets, expensive watches, bags, shoes, and anything that is a liability and the other type of rich people are those that focuses more on investing assets like real estate, precious metals, cryptocurrencies and any other assets decentralized or centralized. It is actually up to us whom we follow but for me I prefer the one that acquires more and more assets.
No one enjoys luxury more than a rich person, in my opinion. Rich individuals spend their money on many forms of luxury, such as homes, yachts, and private jets. Because they appreciate luxury, they have a specific budget set out for their opulent lifestyle. It's not their fault; they are wealthy. Additionally, they invest at the same time that they spend. Can you mention any super rich or even rich person that does not spend on luxury. Because as for me if I am investing the same time I am adding luxury to one way or the other, been comfortable is not a crime at all anywhere so let us enjoy while we still can even has we are investing. But don't spend everything on luxury so you don't go broke tomorrow.
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Parklane777 (OP)
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December 30, 2023, 07:48:30 PM |
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But one thing for sure people specially the real estate and even CAR owners will be burdened with a lot taxes and liabilities by the goverments around the world. That's why i stay out of trouble by not allmost owning nothing or any liabilities on my name as possible.
Not sure if owning nothing is really the way to become rich. I understand your argument, but if we look back at history it's actually the opposite, most people got rich by owning a company and see the value of that company rise in value. Business owners have more risk than the average person, all their money and wealth is one company, whereas investors usually spread their money across a wider range of assets. Only once the business owners become rich, they might sell a part of their company and diversify in properties, yachts, luxury cars or art. Taxes are usually a portion based on profits, so only if we make a lot of money we have to pay a lot of taxes. Also the more money you have the better your tax specialist is going to be and you can use a wider range of options to save taxes, like creating a family trust. History not repeat always sometimes it could be trap If you think that ways. Be catious!
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0t3p0t
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January 01, 2024, 02:27:47 PM |
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Well for me there are two types of wealthy people one of them loves a lavish and luxurious lifestyle with super car collections, yacht, private jets, expensive watches, bags, shoes, and anything that is a liability and the other type of rich people are those that focuses more on investing assets like real estate, precious metals, cryptocurrencies and any other assets decentralized or centralized. It is actually up to us whom we follow but for me I prefer the one that acquires more and more assets.
No one enjoys luxury more than a rich person, in my opinion. Rich individuals spend their money on many forms of luxury, such as homes, yachts, and private jets. Because they appreciate luxury, they have a specific budget set out for their opulent lifestyle. It's not their fault; they are wealthy. Additionally, they invest at the same time that they spend. Can you mention any super rich or even rich person that does not spend on luxury. Because as for me if I am investing the same time I am adding luxury to one way or the other, been comfortable is not a crime at all anywhere so let us enjoy while we still can even has we are investing. But don't spend everything on luxury so you don't go broke tomorrow. Yeah, living in lavishness is part of the wealthy people's lifestyle no doubt about that but few of them are I think were living a low key lifestyle and instead of having hundreds of collectible luxury cars they share their wealth to charities out there. Though we can be fooled by what we see and read on the internet but still let me just share this link for you to check out: https://www.thegentlemansjournal.com/article/10-billionaires-live-surprisingly-normal-lives/
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dimonstration
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January 01, 2024, 02:31:55 PM |
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We all know that recless money printing and inflation will cause more taxes also higher property taxes. Rich people knows to hold properties it's a liability the maitance and taxes it's a extra burden and stress.
Without any further jibed jaber on this discussion. Rich people just have greater money income over their liabilities that’s why they are rich. It’s not that they are trying to lower down their liabilities just to become rich but rather they are rich because they earn huge money that overcome their liabilities. It’s very simple. If you want to become rich, Find a better job or start your own business that will make you rich because limiting your liabilities will not make you rich but just make you less poor in the long run.
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Patrol69
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January 01, 2024, 02:49:18 PM |
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No matter what the rich and the poor say, everyone dreams of investing and will make a profit. It is wrong to think that only wealthy investors can profit from investments, those who have a sound understanding of investments and who can take risks and who can hold their investments for a long time can profit from investments. A new investor should follow those investors who invest in the right way and who have sufficient investment skills as well as those who can take risks. A rich investor but he has no idea about investment and he doesn't know how to invest properly I think following him will result in loss of money instead of profit from investment.
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macson
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Catalog Websites
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January 01, 2024, 06:13:17 PM |
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The mindset of rich people who are successful from zero is truly extraordinary, they are able to take advantage of every opportunity that exists and also see the risks of every decision they take down to the very details. Liability assets such as luxury cars, luxury motorbikes, expensive watches will not make them easily tempted, even if they waste their money on going to nightclubs or other glamorous lives, it feels like it's hard for them to do. having investment assets that provide long-term profits, active profits and passive profits are also important, now I have started to try to get them as quickly as possible, who knows the future, only great people prepare themselves for the worst in the future.
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Twentyonepaylots
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January 01, 2024, 07:28:16 PM |
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I don't think I need to follow the rich people; maybe the only thing I can adopt from the rich is the positive mindset they have. Maybe that's all.
It is important to know that we do have our own path in life, in business, personal, career, finance, love life and so in. So we don't need to follow anyone in life, but one thing I learned in finance is that successes can be duplicated, I'm not saying we need to replicate every billionaire's people steps that they took, but we should take a look at how they did the steps, simply the rules they follow and some words from them, in short their mindset while doing the work they have founded. However, it is not also wrong to follow people you admire (not literally) if they inspire you to do great things then so be it.
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avikz
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January 01, 2024, 08:21:23 PM |
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We all know that recless money printing and inflation will cause more taxes also higher property taxes. Rich people knows to hold properties it's a liability the maitance and taxes it's a extra burden and stress. Instead of owning the single House or building you can just invest in REIT. I see now there is plan to lower rates and give to the middle-class opportunity to get properties with cheap price and with attractive mortgage rates. That's how the rich ones get out of the upcoming tax burdens and Extra liabilities and responsebilities. Now they waiting btc ETF once approved they can allocate a lot funds from their real estate funds into cryptocurrency Market by using ETF. When Canada Toronto BTC ETF was approved than a lot real estate investors invested in btc etf their capital and large part of Toronto real estate market was falling lower. If you can see all the correlation than everything make sense.
If you invest in btc or crypto sure it's a asset and by default with the assets properties there is maitance expenses......but you keep your assets "maintance"cost under control If you do invest by dca % to averaging down.
But one thing for sure people specially the real estate and even CAR owners will be burdened with a lot taxes and liabilities by the goverments around the world. That's why i stay out of trouble by not allmost owning nothing or any liabilities on my name as possible.
I have investment in REITs. Not one, but two! I am not classified as a wealthy person but my stock exchange allows me to participate in REITs. These are really great investments to be honest but they couldn't outperform Bitcoin really. Especially in COVID time, the return from REITs were quite low even compared to the traditional bank deposits. But it is now coming back to its former glory. But that's not just for rich people. In my country, REIT investments are open to any eligible individuals and the units are tradable in stock exchange. So it's very easy to sell off the units if you need. personally I would recommend REIT as an investment if someone is looking for a above-the-market return.
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Captain Corporate
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January 01, 2024, 09:40:48 PM |
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Liability and asset talk is as old as ancient times, its true and a lot of people "learned" the difference. Just because most of the world doesn't do that, doesn't mean that they are not aware of it neither. First of all, there is something that prevents men from investing into assets and keep on investing into liabilities, that is called a wife ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) All jokes aside, we are aware, but we still spend money on useless stuff, its just how life is. I believe that knowing the difference and using the difference are two very different things. I have some money in some assets, but not a lot, because I am not rich, and I have a lot of debt, based on liabilities, and that's not my choice, that's just life.
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tabas
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January 01, 2024, 10:26:24 PM |
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What is the cost or the maintenance cost for keeping BTC? Buying a hardware wallet and then that is the cost that you are saying and keeping it up to date doesn't cost you that much but definitely your time. If you think that owning nothing is the best thing that you can do then you are just there to live freely without taking that much challenges and risks and I was also thinking like that before. But you know what? You won't be moving on a better place if you playsafe like that.
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dothebeats
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January 01, 2024, 10:41:52 PM |
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Owning real estate properties is only good if you are swimming in cash and are looking for properties to buy that can hold its value for a long time. If you aren't really that much of a deep pocket, buying real estate is not for you, and so REIT was introduced. This removes all the liabilities and risk from you and passes it over to a company that manages these properties and are looking for investors to develop these properties. In turn, whatever profit they generated, they share with you depending on your share of the pot. Lots of middle-class people can easily be a part of this but chooses not to as they choose spending over investing, unfortunately.
Even with the overall positive gain from REITs, it still can't outperform bitcoin or crypto for that matter. The only difference is, you carry 100% of the risk, and you don't have other people guiding you with your investments. It's just you and you alone. This isn't so bad after all, considering that even if you encountered crashes while holding your bitcoin, there is a high possibility that you will regain the value of your coins eventually.
It's good to follow how the rich generates money. Then again, these people are already loaded and have a lot of freedom to choose whichever income-generating asset they want to hold, unlike us people who are looking to get something out of our meager salaries or savings.
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shinratensei_
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January 02, 2024, 12:28:21 AM |
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not all rich people did that, there are some that just don't think about such thing because they know that their income let them live luxuriously even owning as much as the real estate and they won't even get burdened by the taxes. its only those that truly care about their wealth because they afraid they might went poor again someday that keeps thinking excessively about reducing liability. the thing is that, by putting all your assets into something that is not liability, you sometime expose your wealth to even greater risk. I mean you could be putting all your money into stocks and who knows if within few years the company went bankrupt you lose your money, definitely paying taxes even though its being considered liability for many people are still better than losing money as a whole. when it comes to this the best solution would be, increase your income so you don't need to think about something like this.
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jaberwock
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January 02, 2024, 07:26:23 PM |
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The mindset of rich people who are successful from zero is truly extraordinary, they are able to take advantage of every opportunity that exists and also see the risks of every decision they take down to the very details. Liability assets such as luxury cars, luxury motorbikes, expensive watches will not make them easily tempted, even if they waste their money on going to nightclubs or other glamorous lives, it feels like it's hard for them to do. having investment assets that provide long-term profits, active profits and passive profits are also important, now I have started to try to get them as quickly as possible, who knows the future, only great people prepare themselves for the worst in the future.
I think that's the difference between people who got richer later in life and people who were born rich. I believe that when you are born rich, you can't really imagine a life being poor, and that is why you take more risks, which could lead you to be even richer of course, Elon Musk was a super wealthy person even before any of this, his father owned diamond mines in Africa, dude was never a poor person, he had money anytime he really wanted to, but he just didn't want to. However, it could also lead you to do something stupid and lose all your money, because you are willing to take that risk, you end up being a lot worse. This means that you need to end up with a situation where you could cause a lot of trouble for a lot of people. Poor to rich is different, you know the risks, you know the life, so you be a lot more careful.
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topbitcoin
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January 02, 2024, 08:00:54 PM |
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Follow how they make money and how they make a profit. Also how they manage their finances well, so that their wealth continues to grow. However, it is very unfortunate, most of them only follow the lifestyle, while others do not follow. Especially the current generation prioritizes appearance and prioritizes the current lifestyle, rather than exploring potential and honing skills.
And speaking of investing in Bitcoin, indeed... this should be a solution for people who don't have enough money to start investing. Because talking about investing in bitcoin or crypto... someone can start investing in any amount, according to the ability they have... However, we as ordinary humans... we often rush into making decisions... because we want to immediately make a profit from an investment... we act carelessly by buying just any coin without first looking at market developments and looking into the future, whether the price of the coin will rise or not.
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Parklane777 (OP)
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January 05, 2024, 08:21:53 PM |
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Follow how they make money and how they make a profit. Also how they manage their finances well, so that their wealth continues to grow. However, it is very unfortunate, most of them only follow the lifestyle, while others do not follow. Especially the current generation prioritizes appearance and prioritizes the current lifestyle, rather than exploring potential and honing skills.
And speaking of investing in Bitcoin, indeed... this should be a solution for people who don't have enough money to start investing. Because talking about investing in bitcoin or crypto... someone can start investing in any amount, according to the ability they have... However, we as ordinary humans... we often rush into making decisions... because we want to immediately make a profit from an investment... we act carelessly by buying just any coin without first looking at market developments and looking into the future, whether the price of the coin will rise or not.
We just had the real estate ATH 2021-2022 Then it falled....we got to the DEAD CAT bounce point. Im expecting small bounce 2024 and then 30%-50% price to fall year 2025-2026 UK EU USA Canada and AU
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