Ancient philosophers criticized wealth and money. Plato says in the Republic: "The more they think about accumulating wealth, the less they think about virtue; for when wealth and virtue are placed on two scales, one must outweigh the other."
On the other hand, there have always been poets and philosophers who viewed the issue from a different angle. The great poet Johann Wolfgang Goethe said: "Health without wealth is half sickness." The American poet Gertrude Stein said: "I have lived rich and poor, and in my opinion, rich is better." The writer Oscar Wilde said: "When I was young, I thought money was the most important thing in life, and now that I am older, I realize that it is."
If we Google the phrase "lottery winners who lost all their money" or similar terms, we will find hundreds of similar stories from all over the world. Soft news magazines love to publish these cases, and they often imply a moral lesson: that money can't buy happiness.
In 2017, the London High Court declared German tennis player Boris Becker, the former world number one, bankrupt. Private bank Arbuthnot Letham & Co. had filed for Becker's bankruptcy after reports indicated he was unable to repay a previous debt of ?10.5 million.
When Michael Jackson (the King of Pop) died, he was $400 million in debt. Legendary singer Dionne Warwick was forced to declare bankruptcy. World-famous soul queen Whitney Houston was $4 million in debt when she died in 2012. Former German soccer coach Werner Laurent faced bankruptcy after purchasing real estate in eastern Germany. At first, the deal seemed like a smart move to reduce his income taxes, but it later turned out that these investments were the cause of his financial collapse. In fact, there's something most people don't know: keeping a million is harder than earning one. Because most people assume they can live a comfortable life if they only have a million dollars, or even ten million. I don't want to claim that earning a million dollars is easy, but having that amount won't help you unless you know how to invest it wisely to add more. Managing money is something you must learn, and it can also be learned. People who fail to learn this skill will lose their money faster than they realize.
The first part of this book teaches you how to accumulate wealth, and the second part explains how to grow your wealth after establishing the basic principles, rather than sitting back and watching it vanish into thin air. You'll learn the hidden pitfalls you should avoid, the advisors you should ignore, how to minimize your losses, and how to grow your wealth through wise investing that allows you to maximize your financial independence.
Ancient philosophers criticized wealth and money. Plato says in the Republic: "The more they think about accumulating wealth, the less they think about virtue; for when wealth and virtue are placed on two scales, one must outweigh the other."
On the other hand, there have always been poets and philosophers who viewed the issue from a different angle. The great poet Johann Wolfgang Goethe said: "Health without wealth is half sickness." The American poet Gertrude Stein said: "I have lived rich and poor, and in my opinion, rich is better." The writer Oscar Wilde said: "When I was young, I thought money was the most important thing in life, and now that I am older, I realize that it is."
If we Google the phrase "lottery winners who lost all their money" or similar terms, we will find hundreds of similar stories from all over the world. Soft news magazines love to publish these cases, and they often imply a moral lesson: that money can't buy happiness.
In 2017, the London High Court declared German tennis player Boris Becker, the former world number one, bankrupt. Private bank Arbuthnot Letham & Co. had filed for Becker's bankruptcy after reports indicated he was unable to repay a previous debt of EUR10.5 million.
When Michael Jackson (the King of Pop) died, he was $400 million in debt. Legendary singer Dionne Warwick was forced to declare bankruptcy. World-famous soul queen Whitney Houston was $4 million in debt when she died in 2012. Former German soccer coach Werner Laurent faced bankruptcy after purchasing real estate in eastern Germany. At first, the deal seemed like a smart move to reduce his income taxes, but it later turned out that these investments were the cause of his financial collapse. In fact, there's something most people don't know: keeping a million is harder than earning one. Because most people assume they can live a comfortable life if they only have a million dollars, or even ten million. I don't want to claim that earning a million dollars is easy, but having that amount won't help you unless you know how to invest it wisely to add more. Managing money is something you must learn, and it can also be learned. People who fail to learn this skill will lose their money faster than they realize.
The first part of this book teaches you how to accumulate wealth, and the second part explains how to grow your wealth after establishing the basic principles, rather than sitting back and watching it vanish into thin air. You'll learn the hidden pitfalls you should avoid, the advisors you should ignore, how to minimize your losses, and how to grow your wealth through wise investing that allows you to maximize your financial independence.
