11 shocking facts about money.

1. Money DOES BUY happiness.

It is not money that makes you unhappy.

It is chasing money as makes you unhappy.

2. It is (mostly) more profitable to rent than to buy

Buying is mostly an emotional decision, stemming from a worldview that ownership means success.

Buy, when you have excess.

Rent, when you are on a budget.

3. You play safe with your money, if you do not know how to make it again.

Until you do not understand a way of making more money from money, you will always hold on to the money you have.

4. Spending money for your well being is an investment.

Buying a comfortable chair to WFH, is an investment, not an expense.

Eating healthy, is an investment.

A good pair of shoes, a good mattress, a good pillow - are investments.

Therapy is an investment.

Don't be cheap here!

5. Your partner will influence your money, more than your knowledge.

Who you spend your life with, their worldview, their approach towards money, their risk profile - all have a far bigger influence on how you treat your money, than your own knowledge.

6. No one wants to get rich slowly.

The surest way of getting rich is to be patient with it.

- Build multiple streams of income

- Keep expenses low

- Do not take loans to buy things that make you look rich

- Invest every month, whether up or down

It is boring!

7. Money's job is to set you free, not make you rich!

Money gives you choices, it gives you options, it gives you freedom.

At the best end of the spectrum, it gives you your time.

That is when money has truly worked for you.

8. Rich does not mean wealthy

You are rich when your active income is a lot.

You are wealthy when your passive income equals or exceeds living expenses.

9. Money will not change you. It will reveal you.

If you are an inherently kind person, money will make you kinder.

If you are an inherently charitable person, money will make you more charitable.

If you are an inherently proud person, money will make you prouder.

10. You (most likely) do not know how much money you are chasing. Hence you will keep chasing forever!

Do you know how much money is that, for you?

11. We all have 2 lives when it comes to money

- Get to the amount you need to live life and do all the things you want to do and need to do. 

- Make more money

1 is mandatory.

Will take time.

If you try to find shortcuts, you won't get past it.

2 is optional & a LOT of fun!

Money is a good servant, but a bad master.

- Francis Bacon

Some references that might help:

1. Buy or rent a house?

youtu.be/cpw4Cg3Gpx8

2. Regular income from your investments

youtu.be/oNcs95JtUUM

3. How much money do you need in life?

https://youtu.be/13nhoS_XYfg

Rich or Poor as per Elon Musk

Elon Musk explains why his daughter can’t marry a poor man.

A few years ago there was a conference in the United States on investment and finance. One of the speakers was Elon Musk and during the question and answer session, he was asked a question that had everyone laughing. 

If he, the richest man in the world, could accept that his daughter marry a poor or modest man. 

His answer can change something in everyone.

Elon Musk - First of all, understand that 

Wealth does not mean having a fat bank account. Wealth is primarily the ability to create wealth.

Example: Someone who wins the lottery or gambling. Even if he wins 100 millions is not a rich man: He is a poor man with a lot of money. That's the reason why 90% of the lottery millionaires become poor again after 5 years.

You also have rich people who have no money.

Example: Most entrepreneurs.

THEY are already on the road to wealth even though they have no money, because they are developing their financial intelligence and that is wealth. 

How are the rich and the poor different?

To put it simply: The rich may die to become rich, while the poor may kill to become rich.

If you see a young person who decides to train, to learn new things, who tries to improve himself constantly, know that he is a rich man.

If you see a young person who thinks that the problem is the state, and who thinks that the rich are all thieves and who criticizes constantly, know that he is a poor man.

The rich are convinced that they just need information and training to take off, the poor think that others must give them money to take off.

In conclusion, when I say that my daughter will not marry a poor man, I am not talking about money. I'm talking about the ability to create wealth in that man.

Excuse me for saying this, but most criminals are poor people. When they are in front of money, they lose their mind, that's why they rob, steal etc... For them it is a grace because they don't know how they could earn money by themselves.

One day, the guard of a bank found a bag full of money, he took the bag and went to give it to the bank manager.

People called this man an idiot, but in reality this man was just a rich man who had no money.

One year later, the bank offered him a job as a receptionist, 3 years later he was a customer manager and 10 years later he manages the regional management of this bank, he manages hundreds of employees and his annual bonus exceeds the amount he could have stolen.

Wealth is first of all a state of mind.

So … are u rich or poor?

✔️