TOPIC: The love of money is the root of evil

Is it good to be rich? Or is it evil? The Bible says, “The love of money is the root of evil.” So, not money in its essence is bad, but people’s love for money and people’s desire to achieve materialistic goals is in fact, the root of all evil.

There are two groups of people in the world – the rich and the poor – and the main question is, “Why?” Is there a failure in the system? Is there a special knowledge that wealthy people have? Or is it because they look better or they live in better areas? Guess what, none of these; but actually, the reason why the rich are getting richer is because they understand a few very important things:

• They spend less money than they earn;
• They make wise money investments;
• They give something back to their community.

I’ve been in the investment industry for over two decades and I had the privilege to work with millionaires and billionaires, and when it comes to money, they all have these three things in common.

When they invest, rich people always look for long-term profits and have no interest in fast money; they look for reliable people and projects and they do their due diligence, studying and looking behind the scenes when they receive an offer or see an opportunity.

Don’t be fooled by the beauty of a website or a brochure or a good talk. That’s just marketing and that’s how you can fall in the trap of losing money on a risky investment. One thing that is also important to remember is to take your time to decide, and don’t jump on opportunities that are “only here today” or “limited time offer”. If it’s not available tomorrow, or the next week, just forget about it because scarcity on investments is always a negative point and a red flag for scams.

The catalyst for success and richness is knowledge, not luck. If you want to know more about how you can make wise investments, listen to Value Driven Podcast, where leaders with experience will pave your road to where you want to go.