Getting wealthy vs Staying wealthy

 Getting wealthy is tough but staying wealthy after getting success is tougher. Let me decipher this if someone wants to get wealthy, he/she has to take risks and being optimistic but staying wealthy is totally opposite if anyone wants to stay wealthy, he/she might be afraid to invest their wealth.

There is a popular quote which I read in a story related to Waren Buffet when one of his friends who in his group become vanish. Warren Buffet told in one of his interviews that he was smart as Buffet, but he doesn't have patience in it. Warren Buffet and Charlie Munger are two friends who start investing together but there is also have a third person name Rick in 1970's he wants to be wealthy immediately, he took loan for investing but at that time the market goes 70% down and he becomes bankrupt that's why he leaves their company. This shows that patience is the significant factor while investing in stock market you are not always right.

Staying wealthy needs survival mindset. Assume that you earned a huge amount of money through investing you have a fear to sustain your money in the long term that requires a survival mindset, how you could survive your money from getting wasted. Staying rich involves just a few simple things such as self-awareness, modesty, and the ability to delay gratification with a portion of your earnings.



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