If there is one thing that everyone has learned this year is that it doesn’t matter how big of a crisis the world is going through, it doesn’t matter if it’s a recession or a depression. there is always an opportunity to build a fortune.
Those who understood how the game of money works had earned more money this year than most people will earn in their entire lives.
For some reason, a lot of people think that just because they can buy ice cream, they know everything about money, no wonder why most people are in a dark financial position. But since you’re reading this post, you clearly want to get out of that position. So hats off to you. In this post, we are going to find out what most people don’t know about making money and clear up some misconceptions.
1, Waiting isn’t going to make you money.
JACK ma once said, The worst people to serve are the poor people, give them something for free. And they will think it’s trapped. Tell them it’s a small business, and they don’t need a lot of money to start. And they will say that they can’t earn much out of it. Tell them to make a big investment, then they will say that they don’t have the money, tell them to try something new. And they will say they don’t have the experience. Tell them it’s a traditional business. And they will say that it’s too hard to do. The competition is too strong. Tell them it’s a new business model. And they will say it’s a scam. Tell them to run a shop at least. And they will say they will have to work 24 seven and won’t have freedom, but they do something have in common. All of them. They love to ask Google less than two friends who are as heartless as them. They think more than a university professor and do less than a blind man.
Just ask them. What can they do? What can they do to improve their lives, they won’t be able to answer for you. Instead of just thinking about it. Why not do something about it. People fail because of one common behavior. Their whole life is about waiting. They’re waiting for that one in a lifetime opportunity to make everything happen. They’re waiting as if someone one day will come and hand them a billion dollars and thank them for waiting all of this time so that finally they can enjoy their lives.
2, College is overrated.
I remember back when I was a teenager, my dad would tell me that. If you would study hard, get good grades, get into a college graduate, you’re set for life, you will not have to worry about money again.
Fortunately, or unfortunately, I listened to my dad. And I did exactly what he said. But when I graduated, I realized that no one really cares about my college degree. If I want to get hired or get a fat paycheck, I have to deliver more value to my employer. That’s when I realized that a college degree is overrated.
In the past, when my dad was a teenager, very few people had access to higher education. So companies heavily relied on college degrees to distinguish potentially good employees from the rest. Unfortunately, that has changed. Everyone has a college degree today. And whatever you are taught in school is available for free on the internet.
And as a college graduate, I can confidently tell you that there are far more effective tools to learn on the internet than any other college can offer. The only advantage colleges have is the experience you get when you enroll in college and meet new people. The parties, the friendships you build, the connections you create over these years are sometimes priceless.
Yes, of course, college graduates often earn more than non-graduates, but not when extense where they can be financially free with a college degree to get a better job that will provide you with a slightly better roof over your head and a better car.
But it doesn’t prepare you to make anything more than that.
3, Be greedy when others are fearful.
Baron Rothschild in 18th century British noblemen and members of the Rothschild banking family once said The time to buy is when there is blood in the street. Instead of making rational decisions that are based on data and facts. Most people would go with their guts. For instance, a bank would go bankrupt, all the people who kept their savings in that bank would lose their savings.
Other people would see that and would rush to their banks to withdraw all of their savings, afraid that their bank might go bankrupt next, but because everyone has withdrawn their savings, their bank goes bankrupt, and that will push other people to do the same, slowly bankrupting every bank in the country and crushing the entire economy.
The panic district the economy, but well-established companies or banks survive such a panic, but lose a lot of their value Meanwhile, which means you could buy these companies at a fraction of their real value. crisis. This presents a unique opportunity, the chaos and the uncertainty about the future significantly devalues even great successful businesses.
So if you’re looking to make a fortune, get yourself ready when the next crisis hits the world. 2020 certainly created panic around the globe. And a lot of immature investors quickly withdraw their investments and lost a lot of money in the process. But others jumped in and invested everything they had. And now their investments have paid off and turn them into millionaires or even billionaires. In some cases, this rule doesn’t only apply to the stock market, but to any other kind of investment.
4, You will have to hustle.
As long as you’re life. A lot of people imagine that there is a point in life where you finally stop working and enjoy life somewhere on the beach, maybe. Unfortunately, there isn’t such a point. Even if you end up making a lot of money. Trust me, work never ends, you might reduce your number of working hours, work on something you are more passionate about.
But you will keep working as long as you’re breathing. So instead of forcing yourself to do a job that you hate, work on stuff that you’re in love with, or at least believe are important. Life is like a sport, you always have to be in shape. And for that reason, you have to constantly grow, otherwise, you will fall behind.
Take a look at Trump, for example. Regardless, you like him or not, even at the age of 70, he still worked his ass off and proved the whole world to be wrong and became the president. Yes, he lost this last election. But he still put on a really strong fight.
But compare that to an average 17-year-old who probably already gave up on life. Some people give up at the age of 30 or 40, with an excuse that it’s already too late for them. As long as you’re alive. You should keep hustling.
5, The only thing that matters are the results.
What would you do if your boss would tell you? You know what, last month we were at a loss, the market was down. So we’re not going to pay you this month, you probably will take the hell out of your boss, because you work those hours, and you deserve that money. That’s your boss’s problem that the company didn’t make enough money. Right?
Then why would you complain that it’s unfair when your boss makes much more than you when the company is doing great. When the market is up? People are protesting in the streets complaining about wage inequality, arguing that you must be paid based on your efforts. But that’s not how it works. It doesn’t matter how many hours you work or how much effort you put into that. All that matters at the end of the day. Are the final results. Will you buy my product just because I’ve spent a year creating it? Absolutely no, you will buy it only if you find it valuable. So stop thinking in terms of I deserve a higher salary because I have a Ph.D. in economics or have 10 years of corporate experience.