Long Term Investors Sound Off Here

[rcw1]

Getting rich vs staying rich​

Getting rich vs staying rich

Strategies to get rich versus stay rich are markedly different. Here is a look at the five main ways to get rich, including through work, business, investing and luck, as well as those that preserve wealth.

www.firstlinks.com.au

i am probably not rich by modern standards , but depending on how many remaining years left , possibly 'rich enough ' ( for my frugal life-style )

am veering more towards 'staying rich ' now that i am retired ( that translates to resisting inflation over the coming years )

enjoy your life bloke and get a rum into ya....

Kind regards
rcw1

 

[divs4ever]

The old saying" It's not how much money you have but how you put it to work "
It is the key.

i am very conscious of that but you still need to balance risk v. reward ( and factor in real inflation )

AND long term investing is very much like arriving early at the juicy investments

now i have had some jaw-dropping luck on the way ( and locked out capital losses where i can sensibly )

but boy oh boy , in a scenario of deliberately fudged data , it is hard work not getting talked into a capital loss ( let alone a decent gain )

now property is great unless you are forced to liquidate , ditto with private equity , again a desperate need for cash can undo all the good work'/luck

cryptos not for me to me they reek of a honey trap

i had a nice run with corporate debt between 2011 and 2017 , just remember to research deeply before you part with your money ( it can be very complicated )

regarding the deep research .. ditto for ETFs they might be convenient and liquid , but there also can be plenty of traps ( and better options elsewhere

remember two important things have a stand alone calculator handy and factor in real inflation ( or as close as you can guess it )