Young people taking advice from older people who have worked 30+ years & only started getting their own lives together after years of constant struggle is absurd.
Re-evaluate who you take counsel from,even fools grow older and even their foolishness is still wisdom.
It’s okay for you to be skeptical about someone’s lifestyle choices,it’s a normal part of humanity to question something we are not familiar with.
What is not okay is concluding it is not legitimate without the actual facts
5.Use High Yield Savings Accounts that earn a tangible fixed interest rate monthly to avoid have your money stagnant.
6.Hold yourself accountable to the highest standard,remember you are one financial mistake away from poverty than you are to becoming a Millionaire in Dollars.
You need MONEY to make MONEY,this is a general rule of wealth creation. We begin from Step 1 : UNDERSTANDING SAVINGS
Before you rush into investing your coins understand your money and how you can grow it effectively. Knowing how much you have and do not have
2.Cut Fixed and variable costs
3.Avoid lifestyle inflation (Just because you now earn more does not mean you should spend more,increase the level of your savings and investment).
4.Avoid unnecessary debt (if it’s not life threatening,it can wait.
You can literally retire yourself just by investing in the right thing without lifting a finger to do any work at all. Stock option,government bonds,Treasury bonds etc the list is long. You need to unlearn the idea of property as the only way to wealth
Unpopular opinion: Real estate is not the best investment,it’s the safest but not the best. If you are looking to build wealth in the modern world I encourage you to catch up with modern world economics. Most people with real estate are not liquid enough
If your dream life involves luxury I advice you channel your investments into other options that will keep your cash flow steady and your risk of losing your principle investment relatively low while allowing you to borrow against your investments
The word consequences is borrowed from Latin CONSEQUENTIA meaning "succession of events, logical outcome, necessary sequence,to follow after. The state of your life currently is a result of previous actions and decision made either consciously or subconsciously.
They will project their limitations on you and assume you equally can not do it. What took your father 45 years to do some people have done in 3 days,what might take me a lifetime to do someone else will do in a day
Please remember that next time
The last 2 years have taught me why the rich like to associate themselves with other rich people. No matter how humble you are once you just say something that doesn’t seem realistic for them it’s either seen as Showoff or a Lie. Resentment towards you kicks in
Growing up around people who don’t have as much of a privilege in life as you will have you become https://t.co/byOzKlAFH6 say something it will either be seen as Showoff or it’s a Lie when infact it’s a regular day in your life.I Do what I say,Man of my word
“Economy nipa mwenu” you’d think times are hard for everyone but people’s definition of struggle varies.What you might consider soft life is someone’s else’s broke life and vice versa
My father told me “Live life within your means,if possible live below your means” this statement has helped shape how I see and manage finances. Just because I can afford something doesn’t mean I have to have it,thus I see no need to have any flashy things in my life