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How To Become Rich For Normal People

It is possible to become rich even if you are a normal person. The key is to develop healthy investing, wealth building habits.

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How To Become Rich For Normal People

Transcript

Good day fellow investors. As there are a lot of young viewers in our YouTube audience I decided to introduce motivational investing educational Monday where we will talk about personal finance and something that's even more important than the stock market and choosing the right stocks. It is having the right habits to properly invest properly build wealth properly approach investing in the financial part of life. And that's I think a step more higher a step more important than just stock picking. And that's why I'll try on Mondays to do this motivational videos that will help a lot of our viewers I'm sure about that. So as we are talking about habits it will be another habit habit on the channel. We have Friday your comments set. The News Sunday the stock analysis. And now Monday personal finance investing motivation. I will add another free four days. We'll see how it goes and how I feel about what kind of videos I give you the best venue even if sometimes you might not agree. This is something you might not agree but it's the biggest value I can give. That's why I do it. Let's talk about habits habits make you rich. If we take a look at the stock market over the last 20 years it went up and down and up and down and now it's went up for the last 10 years. So in 2000 nine disappear five hundred was at around seven hundred seven hundred something points which means that it's increased four times over the last 10 years. Yes four times.

That's a huge increase and the ups and downs will happen again at some point in time. And even a few times over your life investing cycle and that's crucial to understand and there's nothing we can do about it except being diversified hedged perfect that having always cash and not making stinking stupid investments. So on one side we had recently crypto currencies marijuana stocks. Few years ago it was 4 x 4 x trading Everybody was crazy about that. Before that it was gold commodities. Before that we had was flipping houses real estate and there is always something. Now we have ETF. And there is always something that investors chase about if you take take one step back and you create the habit of investing properly looking at various asset classes and their risk reward over the long term if in your life with the key not lose money and not lose money not to lose money and getting the higher potential reward on not losing money. You will have a great successful investment career personal finance wealth whatever. If you chase those investments then something terrible happens that I have seen happening in 2008 9. I was part of an investment for homes that were really cool in 2000 in the 2000s. I started 2003 2007 2009 and I think that in 2010 11 the number of messages on that forum was 3 percent. I'm not exaggerating was just 3 percent of what it was in 2007. Not because it was bad for them or there was no other forum for that stock market group. Not because Facebook came not because of anything. It's just that people lost interest after 2007.

Everybody was so excited about stocks in 2007 and then they lost interest in 2009 10 11 and they lost a lot of money. And that's why I want to really give you food for thought about creating a habit of investing constantly and investing especially after you have lost a lot of money. That's the best time to invest. So the message is make investing lifetime longterm habit which means that you're constantly a little bit of time per week assess potential investments and think OK I have 40 50 70 years of a life investment cycle where I want to take advantage of the best opportunities that come to me. Don't chase opportunities because then you're usually late and it doesn't lead to good things to wait for those opportunities. Just analyze have your criteria set and develop that as a habit. Look at real estate look at the goals look at stocks look at businesses look at what they have or look at taking that look at what and always look okay. This might add value to my life. This not and then say OK no yes no yes. Over the long term over 10 20 to 50 years you will have so much rewards that you will be able to enjoy whatever you want. So just implement that Long-Term Investing habit as we are a stock markets and our own stocks look at them constantly over time. But be sure to buy them when they're cheap. That's it. Over your lifetime will have a lot of opportunities to buy stocks that are cheap that fit your investment criteria. And that's all you have to do research research compare compare and buy what is cheap. With that thank you for watching.

Looking forward to your comments as soon the next video.

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