What are some of the biggest mistakes people make while trying to get rich?

What are some of the biggest mistakes people make while trying to get rich?

Refusing to live like they're poor.

A big mistake is deciding "when to stop"

100k? 1 million? 10 million? Most people will aim for 1 million and they don't stay there for very long.

So you're telling me I shouldn't spend 75% of my bank account on a car I don't need when I don't have a stable income?

Buying and selling on emotion.

having some success on a good idea, and then getting greedy and tempted into a bad idea

Not having a plan.

one life live it

Not necessarily even being greedy. Hubris can kick in too.

Two if you're lucky.

Thinking it's easy. I dropped out to sell real estate and lost $12 000 and owe my dad $10 000 for the car he bought. I tried to become the next Stephen King and wrote a murder novel and it didn't sell at all. Spent 5 months jobless writing. Tried to be a pro gamer but made no money. Tried to become a YouTuber and only got 12 views. It's not easy to get rich. It requires effort and decades of time. Stay in school. If you're thinking of dropping out don't. Stay in school. I wish I did.

Why u fail real estate

being an employee for life
avoiding debt
not buying a house
not starting businesses
not getting a professional degree
being a brainlet
having no social skills
having no math skills
concentrating on money to the exclusion of life
not taking risks
not failing
failing and then quitting
not working for it
not asking people that have done it for help
doing it for the wrong reasons
fraud

/thread

its fine if u enjoy work

Good advice

Dude you can live like your poor and still be baller. It's called cheap booze and cheap thrills.
Also, let no one con you into thinking that if you're poor you can't get laid.

Deciding at age 50 to "start a business".

It's a lot of work and expenses ate high. Few months in I didn't have enough cash or credit to cover them and had to leave.

How is that a bad thing? KFC was created by Sanders when he was 65.

People drop out to pursue their dreams and became rich because of it. Sounds like you dropped out and did everything with the intent of being rich--not a good approach to being a youtuber or pro gamer.

getting married and having kids

Trusting this ETH pump and dump scheme ran by the mods.
Trying to do everything yourself.
Trusting broke retards or other poir people for financial advice (muh 401k, muh stocks, muh buying a home, muh wtf ever...)
Not paying for hand holding. As in, you sac up and buy 45 investments and flail around rather than just pay 6k for a real estate investing class and be thought hard lessons by real investors that have been there...

Pffffff.

Just dont give up brother. Go back to school if u want. But i am almost debt free with 2 houses and a 3rd on the way on interest free payments. Broke 50k last year. Dropped out of college 2 times. No regrets man.

I have a feeling that i will be creating businesses as a hobby until i die

>waiting until you are financially secure and stable with plenty of extra capital
>bad

Having a business partner you barely know.

>If you're thinking of dropping out don't. Stay in school. I wish I did.

THIS right here. Most people don't realize that the success stories they see on TV are really one in a million. Over time anyone can become rich with the right attitude to spending and saving. But if you want to become rich quick, then good luck, like literally.

They don't educate themselves