blackbeans
Elite Member
- Nov 29, 2008
- 9,247
- 4,808
This is a great conversation to have because a lot of people confuse wealth and money.
A lot of people think that just because you have green pieces of paper in your pocket means that you actually have money.
In reality, wealth goes beyond the physical indicators of money.
Instead, wealth involves a mindset that can spot opportunities and turn them into value that everybody can produce win-win situations with.
One important proof of this involves lottery winners.
Did you know that the vast majority of lottery winners go back to being poor once their money runs out?
That's because they don't have a wealth mindset.
People with a wealth mindset can make a bad investment and go broke overnight.
But you best believe that after some time they will get back on their feet and probably do even better than they were doing before.
It's also not a shock that a lot of billionaires actually declared bankruptcy at least once earlier in their careers.
So it's one thing to be poor and it's another to be broke.
This is why I appreciate this thread because you are focusing people's minds on one of the key fundamentals of wealth building, which is to appreciate what assets are and are not as well as emphasize the importance of building assets early on.
A lot of people think that just because you have green pieces of paper in your pocket means that you actually have money.
In reality, wealth goes beyond the physical indicators of money.
Instead, wealth involves a mindset that can spot opportunities and turn them into value that everybody can produce win-win situations with.
One important proof of this involves lottery winners.
Did you know that the vast majority of lottery winners go back to being poor once their money runs out?
That's because they don't have a wealth mindset.
People with a wealth mindset can make a bad investment and go broke overnight.
But you best believe that after some time they will get back on their feet and probably do even better than they were doing before.
It's also not a shock that a lot of billionaires actually declared bankruptcy at least once earlier in their careers.
So it's one thing to be poor and it's another to be broke.
This is why I appreciate this thread because you are focusing people's minds on one of the key fundamentals of wealth building, which is to appreciate what assets are and are not as well as emphasize the importance of building assets early on.
