Scaling income mentality

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The gap between the rich and others is what they know or what others don't know. Wealth is first a mentality before it becomes a reality. Ok, this also involves the habit of saving and investing. Is there a difference between both? We hear one first needs to save before he can invest. Did you know that currently, even a dollar can be directly invested. Maybe you will have to understand the tokenomics in the Hive ecosystem.

That aside, this is why I like listening to people who have gone ahead of me in this field. The internet has been an open room to learn if you want to. Consider how easy it is to find something readable, get connected to people that perhaps you would never meet. It is only a pity we mostly waste these opportunities.

I was reading through one of such billionaire voices through an article and it was very inspiring. Yesterday, I talked about Jeff Bezoz and Warren Buffett on their views of investment. The first was centering on a pending bubble explosion while the other was centering on the need of pursuing realistic assets rather than cross fingers and hoping that companies that have put themselves on the role of solving hard problems prevail.

Indeed, I learned and as though that was not just enough, here I am looking through one of such financial models again. I never knew of Grant Cardone until yesterday when I came across this article. He is one of those billionaire real estate entrepreneurs and you should know, I am a big fan of real estate itself.

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Getting back to Cardone’s investment suggestions; think of how to scale rather than cutting back’. Ok, I have to admit I have been in that cutting back section. It is not an easy task anyway to show that enough discipline when you don't even have ‘the enough to stay long enough’. Also picking something from Warren Buffett’s financial views, he also came that close in advice. The fact here is, there are investments that are more real than others.

For instance, a bank promising to pay your 5% ROI is more real than chasing an upcoming financial project with promises of 100x within a year or two. A good investor according to Cardone must focus on high possibility assets rather than chase hypes. This has been the big mistake of the middle class no doubt, there is no zeal to grow wealth. We are always looking for the next long green candle to put all hope on it.

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I could remember one of those events centering hamster Kombat. When people started writing out their dreams when the project launches into the market. Wait a minute, you just tapped your screen for a few months and the next thing your expectation is becoming a millionaire. First of all, where will such a chunk of money come in from for you to drain it out from your own end? Simple calculation, it was all dust. We have to admit, there are so many dust activities out there.

Another thing that took my attention is good and bad debts. So what's the difference? I guess to know from another standpoint, Cardone calls a bad debt ‘a debt that buys toys’ while on the other hand, a good debt buys assets. Ok, I have this experience too. In short, apart from good debts buying assets. A good debt can turn liabilities when a good debt doesn't hang in there long enough to produce profit.

To conclude, let me add, this has been one of the reasons I decided to pay off so many debts currently so I can have more long term focus. Breaking your investment goals in-between in a bad investment. It is more like malnourishing a tree when it is about to bear fruit. It is either it stops the fruit session or gives you unyielding ones. In either way, it is never a success.

The debate on the importance of savings will always go on yet, big entrepreneurs have seen a vice of this habit. Savings does not yield ROI while investing does. The future belongs to those who know how to scale their assets. To even add to that, one of the ways to offset the savings corridor is to become an asset yourself. It is a daily practice, of course you know it is not everyone that works up to the bank that gets a loan. While you are saving to meet up, others are know the smart way; scaling.

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