Many wealthy people often credit their fortune to taking risks that paid off handsomely. They also testify that their risky ideas required courage to follow through, which makes their rewards even better. There are a few factors that contribute to the success of risk takers. First, risk takers are practical thinkers. They do not have their heads in the clouds, and they do not implement any idea that pops into their minds because they know which means of creating wealth will work best for them.
"Get rich quick": how many times have we heard this cliche? Too many. Just posing the question is a cliche in its own right. We live in a society of instant gratification and economic decay. Getting rich quick has become the mantra of many, many people. You hear it, see it, feel it and sense it everywhere. It's all about money all the time. But, as bad as we all want to be relieved of our rising burdens of debt, and to live that omnipresent but elusive life of leisure, maybe there's no better time than right now to realize just how rich you already are.
Who doesn't dream of marching into their boss' office one day and resigning without caring about the financial repercussions? Well, you can only do so if you have acquired sufficient assets (wealth) through which you can generate a future income to replace your current earned income. By the way, as a rule of thumb I don't recommend you hand in your resignation unless you have at least 1 and ideally 2 years living expenses put away in liquid assets.
I encourage you to ask yourself the following questions: - Why are you trading? - Are you genuinely trading to make money? - Are you trading to distract yourself from unwanted feelings, or to change your emotional state? - Are you actually trading to lose... because deep down you do not feel worthy enough to win? - Do you even know? The answers to these questions will define your generated trading outcomes.
Risk-taking seems to be built into the DNA of the rich. Not surprisingly many are avid card players, such as financier Henry Kravis, Investor Steven Cohen and Carl Icahn and the nation's most famous bridge partners, Bill Gates and Warren Buffet. Real Estate and social establishment tycoon Phillip Ruffin admits being guilty of playing Black Jack.
Another priceless lesson from my mentor of 10 years is the story of the magic formula of Andrew Carnegie that he used to achieve millions of dollars. Andrew Carnegie's secret was a magic formula that will help you achieve any goal provided your desire is strong enough. There are no limitations in your mind except those that you acknowledge and accept personally.
There is a large percentage of people who dream of riches and making money but most want it to happen without doing anything about it. The only way this could happen is if one inherits wealth, but you could run through that with the escalation of expenses if you do not work at increasing this inheritance. Having a genuine desire to live well and in comfort makes one realize the necessity of having money and making it if it is not there.
Residual passive income allows you to continuously get payed time an time again for an initial effort. A good example of people who make this kind of income are authors. The put a great amount of effort into writing a book where they don't get payed at first, but once its published they get a piece for every book sold from then on. You can bet that the author of the harry potter books is receiving ridiculous pay and will continue to for years and years to follow.
There so many info product on the market that will teach you how to get rich quick. Most of them are making the person selling the product rich, while the rest of us are becoming more and more financially destitute while we continue to spend our money on these get rich quick opportunities. Most people get getting rich, and getting a lot of money mixed up.
There are a lot of people that find a need to get rid of things in order to make ends meet. The economy is in such a state that parting with treasured items can be the only thing left for some people. This could be why there are so many people selling gold coins these days. If this is something that you feel must be done, there are some things that you should keep in mind.