Tag Archives: riches

What type of investor are you?

Too many people live out their lives without setting financial goals or thinking of ways to get ahead in life. Like the ancient Arabic saying, “He who knows not, and knows not he knows not, is a fool,” they are dangerously unconscious about the importance of creating and carrying out a plan of action to become financially secure and successful.

One of the strategies that can help you to finance your dreams and achieve your objectives is investing. Investing is simply the act of putting your money to work in some type of endeavour with the expectation of making profit. The idea is that you are actively trying to increase the value of your initial investment and/or earn an income from your efforts.

While investing can be a key component in creating wealth, persons who decide to invest may receive vastly different results than they had expected. Although it may be relatively easy to put your money into some type of investment, it is not a given that you will make a profit.

The level of success you obtain will be largely dependent on your investing expertise.

Continue reading What type of investor are you?

Sudden Wealth Syndrome

“With the present uncertainty regarding our investments, the viability of our jobs, and our financial future in general, I wonder if it might be a good idea to aggressively focus on winning the lottery as a wealth-building strategy. Even though the odds are against us, this might be the only way some of us will ever achieve financial success.”

As strange as it may sound, an investment plan that involves winning the lottery and other games of chance is probably more widely practiced than we may think. I have seen people consistently purchase lottery tickets, interpret their dreams to ‘catch the cash pot’, or bet on horses using disciplined strategies. Some may not consider this activity as gambling, but would prefer to think that they are working to secure a regular income.

Obviously, gambling is not the best route to secure one’s financial future. However, many people still dream of obtaining a wealth windfall. How many times have we heard people say, “If I had a million dollars, I’d never be broke again,” or If only I could get my hands on a lump sum of money, I could pay off my debts and start a new life.” Continue reading Sudden Wealth Syndrome