Do you think Donald Trump will ever be poor? The answer is no. If you took everything Donald Trump has right now away, he will have it all back in 10 years.
The reason being, it’s not what he has that’s valuable, it’s who he is. It is what he knows, and what he does that makes him a rich man.
When you can wake up in the morning, and tell yourself, “I could if I wanted to, make a quick $20k right now.” You have the self-insurance needed to never be poor 918kiss .
You believe that rich people, if they wanted can just “create money” on demand if they wanted it.
It comes from knowing how money works. It’s having that financial literacy that most people don’t have.
Rich people don’t gamble. They didn’t get to where they are by luck or chance. They got to where they are by conscious decisions and actions.
That’s why I get upset when I see young smart people doing ridiculous things with their money, like gamble on sports, and go to Las Vegas.
Some people actually believe they can “get rich” this way. When really they are just wasting their money and their time.
If you sports bet or play blackjack for fun. That’s one thing, just make sure you can afford the stakes.
The best thing you can hope for doing those things, is a high paying job. True wealth isn’t about having a high-paying job.
Why the Rich Don’t Gamble
1) It’s not gambling when you know what you are doing. Rich people have the financial experience to know the effects of what they do. Everything is a conscious decision.
They can make money when market goes up, and even make more money when it goes down.
2) Rich people know the odds. They know that 1 in 9 business fail. But they also realize that when 1 of that business becomes a success, it pays for the 9 that fails, or are mediocre.
Same thing with Real Estate and Stocks/Paper Assets. 1 in 9 will be wildly profitable. So they research 100, buy 10 and get rich off of 1.
3) Rich people have persistence, and they don’t do it all themselves. If you notice, a lot of rich people surround themselves with a team. The whole purpose of that team, is to look after and grow their money.