How can I afford it ? instead of I can't afford it !!
Recently I have been watching some video talking about how the billionaires think, and I started thinking what's the different between we ordinary people and the billionaires? Of course money is the obvious different between the ordinary people and the billionaires. But we can see many billionaires are not born to a rich people, their life were pretty much the same to us when they were young.
So what made them change and become a rich people today? I saw many different videos on youtube and I got a little conclusion, they way they think are way different to we ordinary people !!!
Say, these luxury buildings are just next to the estate I am living in, it's talking about HK$ 25,000,000 (Approximately US$ 3.25 Million) in average. My wife and my mom visit the flat inside and both of them love them so much. (As I need to go hospital for blood taking this morning, so I passed through this luxury buildings this morning)
But it was impossible for us to even afford the rent there, don't talk about buying them !!! Then I simply told my wife that NEVER think about it, we can't afford it back in 2019.
After watching the story of the billionaires, I think I need to learn how to change my mind if I do really want to become a rich people (I don't have to be billionaires, become a millionaires is good enough to me)
Now I should ask myself, how can I make myself afford this luxury apartment? Even though just renting them first is ok, it's a mission impossible to me if I only rely on my fixed salary from my job.
I am writing blog on here hive and do invest on crypto market, yes I am making some passive income from hive and on the defi now but the amount is just negligible, it can't enough for my daily survival if I quit from my job right now.
In this situation, I think I need to looking for more income from different channel. Say, investing on a small shop with my wife (oops, almost forgot I am doing that in Shenzhen already) Or get a part time job? This is not a good idea though...em...can't figure out a good idea at the moment, but I think the video already changed me as I am starting to think on how to change from current situation, maybe next step is trying to leave my comfort zone once I figure out what should I do.
Well, I can't afford it at the moment, but I know I can afford it someday !!!
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So this might come across a little cliche.. but the vast majority of people find it difficult to make significant gains (atleast in investing) is because of their time horizon preference is too short.
If they somehow enter the market at a reasonably good time, they also don't enter with enough size to make significant gains - "I wish i would have bought more" etc.
It's difficult to sit comfortable with conviction, if volatility in the near term affects your conviction and investment thesis.
People also expect to make fanatical gains in a short amount of time seeing others score some luck. In reality, it still needs time, and we shouldn't let greed take over, leading to emotional reactions.
Of course there are a lot of ways to grow wealth faster, but if we're just talking relatively passive money management, it usually comes down to these things imo!
Hi brother, nope, your point of view is not cliche, it's very useful to me. At lease it remind me to avoid the following to higher the chance to succeed:
In the past it's difficult for me to make bigger profit as I didn't have patient to wait the market to surge,
I immediately sold out the stocks on hand when I saw there was 5% profit in few days, I fear of missing this 5% profit ended up I missed 200% profit in the super surge in 8/9 months.
But now I learn to be patient, I simply sit tight and wait for the market rocketing to moon, I won't say "I wish I would have bought more" anymore (I did say so in the past), in the contrary, I will buy more and more when I see the market keep going up, or I won't hesitate to buy back in case I sold them at low but it keeps going up.
Regarding to the passive income, I am trying to make my passive income pool bigger but I am not aiming to reply on passive income for daily life, I still prefer to have a job or do something else to make more active income, it's not just about the money but I can have satisfaction when I see I achieve my goal.😃
Step by step brother, we can reach that freaking life we want. Last last year I been using my (Goodnight) name of Road Bike going to my work, now I'm riding in (Jax) name of my new 2022 NMAX. At this time we are renting to a small house. But hopefully by this year, we can move to our new house which I bought this year too. What I mean is we have different path to take but working hard and effort is the key to reach our success.🙏🙏🙏
HAHA.
My english is not that so good sorry for that.
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