Two rules are already posted on steemit if you didn't read that rules then go here and read that:
Rule #1: https://steemit.com/steem/@tahaismail/the-20-rules-to-became-rich
Rule #2: https://steemit.com/bitcoin/@tahaismail/the-20-rules-of-money-rule-2
Rule #3: (Double, Its a double game) What is a double game ? The entire game of money is about doubling your money.So what do you mean by double your money ?
If right now you have 1000$ in your bank account. So how soon can you double your money that's it,that's truly the game. Can you take that 1000$ and double it to 2000$,so the next thing is so now you have 2000$ in your account and you have to double it to 4000$.It's a doubles game.This is a real game of doubles.This is a piece of cake when you learn that it's a double game.
So the question is Risk tolerance, because you have to know yourself when it comes to money.Your risk tolerance depending on the age you are at.If you are 65,your risk tolerance is going to be lower then you are being at 22 years old,right ?So you have your risk tolerance you need to know you and the other part is time horizon.
So the time horizon could like that. Let suppose you want millions of dollars by ten years from now.Great if it's 10 years,what do you have right now ? then you have to play your double game . How many doubles do i have with this 1000$ to get million bucks ?It's a simple game that you need to know your risk tolerance,you know your time horizon,what it is and what the amount it is,then you are playing doubles game.
If you like my posts then follow my blog : https://steemit.com/@tahaismail
This post recieved an upvote from minnowpond. If you would like to recieve upvotes from minnowpond on all your posts, simply FOLLOW @minnowpond
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit