41–50 of 112 posts
Focus on building a life that operates from love and abundance rather than fear and lack. Grow your skills so you can be of service to others. These two things will make you most likely to become rich. “Mastery of Love” and “Millionaire Fastlane” are two books I would recommend.
How do you not become discouraged? You don't have your identity in doing better than everyone else. And you don't have your happiness in how much money you have or in what you can buy. And how do you do that ? Aye, there's the rub. I think you do it by having your identity and your happiness somewhere else. You need more than just "not there". You need a specific somewhere else. For me, it's in Jesus Christ and his l…
Earlier quoted context omitted.
I’m not basing my prediction on the doomsayers, more on general decline of the Western world overall. There are too many issues piling up and to my mind, this will eventually cause some serious economic problems. But I’m not an economist, so I don’t take my word for it. My broader point is simply that the rich today are succeeding in a system which might not be stable in a few decades.
The western world is better off by almost all socio-economic metrics than a half century ago. And hugely better off than a century ago. You actually are basing your predictions on doomsayers. Oh, and debt levels are high because rates and inflation is low.
And as far as I know, millennials are economically worse off than their boomer parents.
I'm not saying to jump in - the crash my come tomorrow. Or I'm not saying don't jump in - the asset prices may melt up with inflation and people who were out are left poorer. There are risks either way.
This doesn't apply to the high paying jobs I think. There you just have to decide what you really want and be happy with what you can get. As many other comments say, money doesn't equal happiness.
If it is any consolation, we will probably experience massive inflation in the next 20-30 years. Those with primarily financial (and not physical) assets will be hardest hit. At some point the economic wizardry will hit the fan. But on a less depressing note, I suggest paying less attention to the areas where people are “getting rich.” Money isn’t the measure of true value and you will rarely find a correlation betwe…
High interest rates will devastate parts of the economy, but that's a different and more well known problem.
Meanwhile, access to credit is easier than ever before, in so many forms, and the Internet has made it easier to "flex on plebs" in seconds.
Dump social media would be my takeaway. Shit's unhealthy
It is not true, you see it because people like to brag. But they prefer to hide their problems, sometimes very deep. The society discourages talking about these things unless you are close friends. Whereas positive aspects are amplified. I give you an example. I have a couple of friends with two kids. They have an amazing FB/Instagram feed. You immediately see a wonderful model family living in a beautiful house, tra…
Reality is they have a very low income. With a double mortgage on their house. And blew through an inheritance. Have trouble keeping up with repairs, roof, etc. With an uncertain financial future, they are always in a state of worry.
You're experiencing a classic case of selection bias. You're much more likely to hear about the person that got rich trading crypto rather than the person that lost a lot of money trading crypto.
the lottery effect