MagicForDummies
Well-Known Member
How shall I put this... I'm just going to write somethings that I plan to do when the time is right. And for now, that is my background knowledge on the art of investing and how to get rich without working harder. I've learnt this from reading some books like "rich dad, poor dad" and talking to my family members about the subject and what they've experienced. And now, I'd like to share some of those ideas with you. It may or may not make you rich, and my credentials on this is below minimal at best. What prompted me to write this is the fact that I may or may not want to review this probably later in the future and check on my perspective, and also to share with you guys because t9k is like a secret society and it's probably a good thing.
I stand to gain nothing from this except your feedback, and of course I hope every random member of t9k fortune beyond measure. Okay so lets begin.
Tip #1
This is the key behind everything about investing. The ultimate step and secret about investment. If you are in debt, pay off that debt immediately and begin saving part of your income. This would also mean that you'll probably need to be frugal and misery during your process of becoming rich. Saving money is investment itself as you'll be spending it later when the time is ripe. Seriously, saving is more of a conviction or discipline than anything else. It's possibly the hardest step when the first paycheck rolls in. I intend to probably save 50% of my income and remain single.. or have no kids. That's my gameplan.
Tip #2
The economy always fluctuates. It's always in your best interest to check on what to buy and when to buy. The term "buy cheap, sell high" is the main reason why the rich get richer. They know when to spend, and how to earn simply by owning the right thing ( like real estate and land ownership ) at the right time. It's the business cycle. How do you know when a country is not doing so well? Some factors like suicides, unemployment and people declaring bankruptcy is like a red light for me. People would probably be forced to sell their homes and move in with their parents because they need the money. Bad. And the thing is... no country is permanently doomed to become abandoned, derelict and reclaimed by "mother nature" due to poor economic circumstances, they always pick up. Like Greece, though now it may be running out of hope and everything seems to be crumbling due to poor economic performance because of some political reasons namely due to the euro; it's not doomed to be like this forever. They'll find a way to increase their GDP and eventually turn things around. That house you bought would probably be worth alot more than it was during that time of depression, and it's price increased alot faster than inflation.
Tip #3
Don't put all your savings into one particular stock or shares or something-like-that. Investing isn't "how much do i want to earn?" because I kinda want to earn a gazillion dollars. but "how much can I afford to lose?" Sure it sounds like a gamble, because it is. But gambling is like an addictive disposable high that destroys people. When you win. You gamble with your winnings. When you lose. You keep gambling until you earn back what you've lost. But it becomes inevitable that the house always wins.
Investing isn't like that. It requires a keen sense and strategy that's more than just a "gut feeling". It's a bit about recognizing patterns and knowing what to expect. The odds are in your favor when you know more about the world and economy.
My intention now is to bide my time and save enough until Malaysia's economy collapses... Then buy up all the real estate around universities and other strategic locations. Then reap when there's the demand. Then rinse and repeat.
I hope this blog gave you some ideas on how to get rich and probably pique your interest in the economy. Maybe next time I'll discuss herd dynamics of equines and how you'll fit in into it.
I stand to gain nothing from this except your feedback, and of course I hope every random member of t9k fortune beyond measure. Okay so lets begin.
Tip #1
This is the key behind everything about investing. The ultimate step and secret about investment. If you are in debt, pay off that debt immediately and begin saving part of your income. This would also mean that you'll probably need to be frugal and misery during your process of becoming rich. Saving money is investment itself as you'll be spending it later when the time is ripe. Seriously, saving is more of a conviction or discipline than anything else. It's possibly the hardest step when the first paycheck rolls in. I intend to probably save 50% of my income and remain single.. or have no kids. That's my gameplan.
Tip #2
The economy always fluctuates. It's always in your best interest to check on what to buy and when to buy. The term "buy cheap, sell high" is the main reason why the rich get richer. They know when to spend, and how to earn simply by owning the right thing ( like real estate and land ownership ) at the right time. It's the business cycle. How do you know when a country is not doing so well? Some factors like suicides, unemployment and people declaring bankruptcy is like a red light for me. People would probably be forced to sell their homes and move in with their parents because they need the money. Bad. And the thing is... no country is permanently doomed to become abandoned, derelict and reclaimed by "mother nature" due to poor economic circumstances, they always pick up. Like Greece, though now it may be running out of hope and everything seems to be crumbling due to poor economic performance because of some political reasons namely due to the euro; it's not doomed to be like this forever. They'll find a way to increase their GDP and eventually turn things around. That house you bought would probably be worth alot more than it was during that time of depression, and it's price increased alot faster than inflation.
Tip #3
Don't put all your savings into one particular stock or shares or something-like-that. Investing isn't "how much do i want to earn?" because I kinda want to earn a gazillion dollars. but "how much can I afford to lose?" Sure it sounds like a gamble, because it is. But gambling is like an addictive disposable high that destroys people. When you win. You gamble with your winnings. When you lose. You keep gambling until you earn back what you've lost. But it becomes inevitable that the house always wins.
Investing isn't like that. It requires a keen sense and strategy that's more than just a "gut feeling". It's a bit about recognizing patterns and knowing what to expect. The odds are in your favor when you know more about the world and economy.
My intention now is to bide my time and save enough until Malaysia's economy collapses... Then buy up all the real estate around universities and other strategic locations. Then reap when there's the demand. Then rinse and repeat.
I hope this blog gave you some ideas on how to get rich and probably pique your interest in the economy. Maybe next time I'll discuss herd dynamics of equines and how you'll fit in into it.
