People, in general, would like to have more money. Have you ever heard someone say they do not want more money?
The average guy wakes up in the morning goes to work comes back home tired sits in front of the couch watches some TV and eats and easy to make food.
A lot of times the money people make they spend it on luxury. Let's say a college student lands a job that pays him $ 50,000 a year what is pretty decent. What happens is that individual starts to spend their money on improving the quality of their lives such as buying a new car or buying a house or traveling the world. After a certain time passes more money is earned and more money is being spent and at a certain point, everyone reaches their peak. Let's just say that this individual makes $230,000/year, but gets fired it is highly unlikely that they will land a job that pays more than a $100,000 or that they will work a job that is inferior to the one that they had before.
This reckless spending habit is due to the false sense of always having a stable income and a pension once that person stops working. Getting rich takes time everyone can be a millionaire such as everyone can have a 6-pack, but are you willing to put in the work and sacrifice pleasure and time.
In general, 10% yearly return on investment is good. Anything below 5% is unacceptable and anything above 10% is excellent. Remember inflation is slowly making money less valuable imagine burning 3% of your money each Christmas :)
There are many ways to earn capital, but all of it requires time. Owning your own business, real estate investments, stocks, commodities (gold,silver,oil) and cryptocurrencies are all good ways of securing financial freedom in the long run.
I will go into more detail in my future posts. Please let me know if you thought this was usefull.
