Longevity is undoubtedly important,for you to live for a long period of time you must be able to survive well and today we will be looking at how we can survive well financially. staying wealthy for a long time requires a different kind of survival mechanism. Without it, we are susceptible to failure, no matter the amount of money we have. Losing all our wealth in a matter of seconds is a real possibility. Let's discuss how we can create a mechanism that will help us stay wealthy for a longer period.
Warren Buffett is a prime example of a successful finance survivor. He not only possesses excellent investing skills, but he has also been able to accumulate wealth over a long period of time. As a result, he has been able to turn his money into billions of dollars, making him one of the most successful investors on the planet. It's important to note that regardless of how much money you have, you can still lose it all. Some people believe they will never be broke again, but reality can quickly change that belief. That's why it's essential to exercise caution when dealing with finances.
Max risk max stop loss
When it comes to money, it always involves risking your life, money, and time. You will always risk something to make money, which makes it possible for anybody to be wealthy. Still, to be wealthy is a thing and another thing to stay wealthy, and one thing people don't know is that the work begins when you are trying to stay wealthy. We all want our money to last for generations, you don't want your money to end with you alone, you want to leave something for your children, and the first mistake people make is that when they make money through risk, they believe they can stay wealthy by taking max risk without proper caution or plan.
Many wealthy individuals have lost their fortunes due to risky investments, despite being smart with their money. They are drawn to high-risk investments like crypto and real estate, hoping for a big payout. Unfortunately, this approach can lead to losing everything. It's crucial to have a backup plan and not rely solely on risky investments to maintain wealth. Investment always carries risks, and it is easy to believe that we are invincible and will always make the right choices. However, being cautious and having a plan to maintain wealth is crucial to avoid potential losses.
don’t get wipe out
People who remain wealthy have developed a survival mechanism that helps them maintain their longevity, as no one is perfect. While they may have made some terrible mistakes in the past, making a mistake is never the issue. The key is to always have a plan in place to avoid being wiped out and to remain wealthy even after a mistake. This approach not only helps in building wealth but also in compounding it and ensuring lifelong prosperity. It's important not to let fear stop us from taking risks, but we must also have a solid plan in place that ensures we won't be wiped out if things don't work out as expected.
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Thanks for your time.
