Sustainable wealth does not come from investing - Photo: Millennial Money Man
Should young people invest in stocks? The answer is “Yes, but don’t invest with borrowed capital, invest with a portion of the capital you have.
Invest in stocks that you understand and have the most information about. This investment will enrich your life, you will learn and understand more.
Become the best in your field
The secret to sustainable wealth is not in seeking quick returns from investments. Instead, it comes from pursuing your passion, becoming excellent at what you love, and seizing opportunities to grow yourself and your business.
During the golden age of the stock market, a friend of mine was invited by a leading US investment fund to become the general director and was offered a salary of no less than 2 million USD per year. He was offered such a generous offer because he was previously considered one of the most successful fund managers in the Vietnamese market.
Then some of my friends who are working for large corporations at home and abroad all have very high and worthy incomes because they have demonstrated professionalism and excellence in their positions.
Looking more broadly, when learning about the successful businessmen who are considered the richest in the Vietnamese stock market in recent years, we will see that they are excellent people in their business fields.
They are all-in, focused on building their business and growing it. They may raise capital through the stock market or sometimes sell some of their shares. But no one starts out as a stock investor.
They need a period of continuous focused work of at least 8-10 years to successfully build their business.
Most people who become sustainably rich do not succeed through investing.
Successful people are those who constantly strive, are creative and persistent - Illustration: Beauty Hub
Looking at successful entrepreneurs around the world, from Bill Gates to Steve Jobs, they all share one thing in common: they did not start their careers with the goal of becoming investors. Instead, they pursued their passion, focusing on building and developing products and services that they believed in.
The financial success they have achieved is a result of their constant effort, creativity and patience in growing their business.
Or Mark Zuckerberg, who started out in his college dorm room and grew Facebook into one of the world's largest technology companies. The lesson from Mark is that passion, vision, and perseverance can turn ideas into reality, create great impact, and become rich.
The stories of successful people like Bill Gates, Steve Jobs, Mark Zuckerberg also show that they spent thousands of hours practicing and developing their skills. This emphasizes the importance of perseverance and continuous learning. The desire to become rich is completely legitimate.
How to get rich at 20 if you start with nothing?
One of the most legitimate and successful ways to get rich is to do your best work at a job you love and are passionate about.
Always strive to be one of the best, most professional people in your field.
To become the best in a field, you need three factors: passion, a good teacher, and persistent practice.
Besides, you also need to be quick to grasp the opportunities that open up such as cooperating, collaborating with others or building and developing one or more businesses yourself.
Even if you don't enjoy being an entrepreneur or business owner, at least you'll be an excellent and professional employee with decent compensation.
The legitimate path to wealth in your 20s is not just about making a lot of money, but also about creating value for society, developing yourself and contributing to the community.
It is important to have passion, vision, patience and to constantly learn and innovate. Besides, compliance with laws and business ethics are also key factors for sustainable success.
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