My experience of how I transitioned from the poor man s mind to the rich man s mindset

Breaking away from the poor mindset and becoming rich requires the following advice:

1.Receive financial education: learn financial knowledge, understand various financial tools and investment opportunities, establish correct investment concepts and financial concepts, and increase your assets.

2.Have a positive attitude: be positive, have the courage to innovate, do not be bound by inherent thinking, learn to learn from failures, and constantly improve their innovation ability and competitiveness.

3.Develop a healthy lifestyle: Healthy lifestyle habits can help improve physical fitness and productivity, while also reducing medical expenses and wasted time.

4.Cultivate interpersonal relationships: Get to know more people with strength and experience, ask for advice and learn from them, and also build good social relationships and networks to access more resources and opportunities.

5.Maintain continuous learning: Constantly learn new knowledge and skills, constantly improve your ability and quality, and lay a good foundation for future development.

6.Be careful: We should develop the habit of saving, plan our expenses reasonably, reduce waste, control expenditures, and achieve wealth accumulation and appreciation.

These require long-term efforts and perseverance, as well as opportunities and opportunities to maximize the benefits of wealth accumulation.

(The first time I came to practice writing, I hope I can stick to it for a month and write 500 words a day).

Rookie article, please also correct the bulls.

Recently, Luo Ji Siwei explained the essence of the rich man's thinking from three different perspectives.

Probability weights. First principles.

I didn't love in the past. I'll add one more of my own – compound interest thinking.

It is recommended that girls should listen to it, and this way of thinking can benefit anyone, regardless of gender, regardless of age.

The most important thing is to practice and practice, and do deliberate practice in ordinary life, otherwise there will be a feeling of "I understand the truth, but I still can't live a good life".

Let's talk about the application I recently started working on - financial management.

Most of us come from ordinary families, and probably many parents will only use savings as a way to manage their finances throughout their lives.

Until now, as soon as my parents receive their retirement salary every month after deducting the part of their living expenses, they are eager to deposit it in the bank for an interest rate of about 2-3%.

Use the power of probability to think about the question of saving and risking

One is an investment with 100% interest up to 5%, and one with x% interest (of course, banks are also at risk of bankruptcy).

However, for some unicorn companies, such as Gafata mentioned by Mr. Li Xiaolai, the probability of their stock price exceeding simple interest by 10% is probably far greater than 50% if the investment period is extended to 5-10 years

So isn't it obvious to invest in these** instead of keeping your money in the bank? I think so, but the reason most of us hesitate is because we feel that looking at this x and how much x is in the short term is an aversion to loss.

But as long as you have a little understanding of these companies' businesses, you will find that their core business will be needed for a long time in the future, (as I have learned before, ** is determined by demand) and they are constantly innovating, that is, they may create more demand in the future.

How can the past infestation be used here?

I used to blindly invest in a ** when I first worked, and it turned out that it was 4-5 years ago, and I lost a total of 35%, which was a very complete investment failure. So much so that before I heard the principle of not falling in love in the past, I always felt that I was "not suitable" for investment, and I "will never learn" to invest, and fell into self-denial, and once comforted myself and said that "it would be good for my husband to be responsible for this kind of investment, as long as I live within my means, it is already very good".

However, after hearing the statement that I was not in love in the past, I had a feeling of epiphany. There is no benefit to continuing to dwell on this failure, nor should it affect my current judgment on whether I should start investing in U.S. stocks, the cost of silence before is not the cost, but the attention, learning time, and money required for this investment are the costs.

First principles.

The first principle of wealth management is to maintain and increase the value of wealth? I think the end up is about improving the happiness of your life, having more time to do what you love and spending time with the most important people in your life.

Then I think it's in line with my first principles to buy the ** of unicorn companies and let these companies make money for me, rather than me selling my time to make money.