Why You Should Employ The Rich Man Strategy? (2)
Do you agree that all human beings are born equal? Absolutely!! Except those born with a silver spoon in their mouth (rich or royal family).However why are some people very successful even though they come from developing countries and thus have less structural and institutional support? The simple answer is their mindset. Importantly, I understand that money is not everything (Love, good health and great family are key) however being financially successful will certainly help you gain the goodies in our planet earth-therefore, in order to be successful, let us explore the rich man´s strategy:
**Long term thinking **: All successful people think long term. In fact, they do not cash out all their gains immediately after an investment and use the money to buy stuffs (expensive cloths, cars, etc) and later be broke-rather they think of good undervalued investments where they will make supernormal profits especially in the cypto space. One good example is the new Ethereum Lyte ( see their website : www.elyte.io and whitelist section of https://main.elyte.biz/?page_id=433 for their current crowdsale and join their telegram community: https://t.me/joinchat/E6tXj0dThqzzjVlWJRuxLw if you have any questions ) . After investing, they hold long term thus making more than 20K% ROI (return on investment). The poor, on the other hand, will sell at only 5 or 10% gains and use all the money in buying stuffs-it is however, ok to take some profits in order to solve immediate financial issues, after which bulk of your investment should be long term.
Moreover, it is true that those who buy undervalued coins/tokens and hold in the long run make more supernormal profits than daily traders.
Passive income opportunities: Warren Buffet, for example, initial strategy was to invest in passive income opportunities and use the gains to invest in other ones (diversification of portfolio) until he has many source of income. One good example of passive income in the crypto space is steem power –which pays daily interest, you will have the ability to delegate power and earn more, upvote people posts and earn curation rewards in return including more payout in author rewards. Therefore, it pays to buy steem and power up.
Do you agree? Send in your comments, Pls resteem in order for others to join and upvote to send in your support.
Click here and read my former post: We are Bouncing Back Stronger! A message to crypto haters
The rich man mindset is indeed the key-this involves smart investment, discipline, and attitude. Thanks for this.
Nice reminder - With Steem I work on a 90-10 principle - reinvest 90%, cash out 10% to treat myself on a monthly basis.
The funny thing is that I started the same - 10% from my crypto trading profits invested in STEEM - but got some issues and invested more. As a result I'm happy about it. Now I'm thinking on how to make it a system and habit.
wow I like your strategy a lot....good one indeed
If it ever falls below 60-40 (before you hit yr draw down age) you're losing!
Speking of passive investment, has anyone invested in Bitcore (BTX)? They have a 6% weekly airdrop on Mondays. I am curious if anyone has thoughts about that.
That there is the secret of HODLing: patience. Patience and the stability to wait out declines.
You need belief, too. Why did Mike Hearn sell all his Bitcoin before its 2017 run? Because his frustration over the blocksize wars wore down his belief. He lost faith, so he couldn't stick with it.
Good point indeed, I agree. Petience is the key to success.
Well definitely first of all like to say a word for your lovely post is so great post and second of all I would like to add up by saying that a rich people mindset says to have a 100years old company than to have a 100 months old company so rich people or other successful people will like to have a company which is 100 years
Good point indeed, I agree
I totally agree.. I never fully understood the esence of powering up until I read it from your post.
This is beautiful and thanks for the enlightment .. @charles1..
You just got a follow😀
You are welcome, thanks for your comment
Most successes are based on will-power. If you are not determined to be successful, there is no way you will be able to think the way Charles thought before bringing out this piece. This is because people without determination are mostly not disciplined. They act based on the present situation and neglect the future which should be he most valuable priority. Sir, thanks for the excellent post. it's really helpful.
You are welcome, more success.
I've been here a couple months and the insincerity is the first thing that stood out. There are people who share thoughtful comments and you can tell they're just trying to get a vote, but at least they put some time and effort into what they're saying.
The group that bugs me are basically e-beggars with lazy, low-effort "thank you for posting"-type content. It's like chicks fishing for compliments and attention on Insta, but instead of putting SOME work into a cute photo they just snap a pic of themselves laying in bed, messed up hair and face pushed back showing off the double chin.
Hahaha , you are right..thanks for your comment
You got a 9.58% upvote from @buildawhale courtesy of @charles1!
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You got a 31.67% upvote from @allaz courtesy of @charles1!
could not agree more with your assertions. thanks for sharing