Why do most people hate money?
Did I clickbait you? good. It's true anyway people don't like to invest or they throw 100$ in crypto for the fun, not for the money. Make it fucking count or go home.
Why is it so hard for many people to invest? They often complain about their job and still, they go every day to work. Investing is literally giving yourself a 13th month of salary or not having to work overtime, taking unpaid leaves, or its your runway for your own business in something you enjoy.
Handling money If your parents are bad with money or never had the chance to have money then how do you learn to handle it? It's ironic that the people that read books like the ones below often don't need that knowledge. The main skill is being aware that it's important to handle your money properly because you know it can work for you.
- Rich dad, poor dad
- The Total Money Makeover.
- You're So Money: Live Rich, Even When You're Not.
- Will Teach You to Be Rich
I'm not smart enough I hear this self-defeating shit all the time. In 2021 the main skill that will make you stick out is discipline & drive. How many people are going all in into 1 thing to become the best? Investing is easy invest even if you are retard. The main goal is to invest 10% of your monthly salary & bonus in a first world countries index let's say S&P 500.
I'm too poor If you live in a country where you are worried about food or shelter then I completely agree. You are too poor. The main focus then should be increasing your skills and/or leaving that location. Let's say your not the brightest in the world and you cook cookies for a living. Your salary is minimum wage 1200 euro netto a month.
Let's calculate the numbers if you invest 10% of your salary a month and get 4% netto earnings on an index fund or whatever investment.
| Yearly investment | re-invested money | Total Money |
|---|---|---|
| 1440 | 0 | 1440 |
| 1440 | 57 | 2937 |
| 1440 | 117 | 4494 |
| 1440 | 179 | 6113 |
| 1440 | 244 | 7797 |
| 1440 | 311 | 9548 |
| 1440 | 381 | 11369 |
| 1440 | 454 | 13263 |
| 1440 | 530 | 15233 |
| 1440 | 609 | 17282 |
It takes 9 years to have a year's salary invested, it takes roughly 15 years before interest yearly is more than you invest yearly. This is with mediocre interest, low salary, and low monthly savings. Is this really that hard 15 years? The real fruits are after 15 years when the graph goes more and more vertical!
A youtube channel I like about just solid basic advice is here for you. Great guy that doesn't try to sell you anything. https://www.youtube.com/watch?v=6jxEy21aToc
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