JBee
Well-known member
- First Name
- JB
- Joined
- Nov 22, 2019
- Threads
- 18
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- 4,774
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- Location
- Australia
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- Cybertruck
- Occupation
- . Professional Hobbyist
I learnt in my early thirties never to invest your own money in your own business if someone else will do so for less cost.
Most billionaires borrowed more than they ever earnt and invested privately. If used properly it is just a time compressor, so you have funds to expand faster now, rather than wait for profits and then expand, potentially only after the opportunity reached its peak. Also loans are critical for taking money out of your investments for other things, without it turning into income. Loans are nothing but a financial tool, but like every tool you need to know how to use them, and how not too.
I suppose that is the difference between millionaires and billionaires these days? The fastest way to make money is to use someone else's, because money itself makes money, if you manage it right. All you need to do is manage it better than your lender.
My two cents for money, is to first understand the nature of money and what it exactly is, before you use it. Like many other things, we think we know, but the only thing we can be certain of is that we don't know enough.
And once realizing that the only true currency is time, then:
lol looks like it's time to get off the forum again..
Most billionaires borrowed more than they ever earnt and invested privately. If used properly it is just a time compressor, so you have funds to expand faster now, rather than wait for profits and then expand, potentially only after the opportunity reached its peak. Also loans are critical for taking money out of your investments for other things, without it turning into income. Loans are nothing but a financial tool, but like every tool you need to know how to use them, and how not too.
I suppose that is the difference between millionaires and billionaires these days? The fastest way to make money is to use someone else's, because money itself makes money, if you manage it right. All you need to do is manage it better than your lender.
My two cents for money, is to first understand the nature of money and what it exactly is, before you use it. Like many other things, we think we know, but the only thing we can be certain of is that we don't know enough.
And once realizing that the only true currency is time, then:
- Reduce costs whilst improving capability.
- Rather spend half, than earn double.
- Buy tools not toys.
- Leverage everything to what it can do in the worst of times
- and never invest everything into one thing no matter how good it is.
- Diversify, distribute and decentralize and grow everywhere.
lol looks like it's time to get off the forum again..
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