If You Don’t Find A Way To Make Money While You Sleep, You Will Work Until You Die

Discussion in 'General Trading Discussion' started by longtermbull, Nov 4, 2018.

  1. longtermbull

    longtermbull Administrator Staff Member

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    Very interesting quote from Warren Buffert:-

    “If you don’t find a way to make money while you sleep, you will work until you die.”

    Just about says everything :)
     
  2. Buyonthedips

    Buyonthedips Senior Investor

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    This certainly made me sit up and think! It makes sense; if you spend all of your monthly income then you have no savings. If you have no savings then you can’t earn any interest. There are other ways and means of making your money work but yes, a saying which will make you sit up and think.
     
  3. longtermbull

    longtermbull Administrator Staff Member

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    It is the simple things which help to focus our minds - if they are too complicated then we will often dismiss them or just not grasp the simplicity of the situation. In basic terms, if you spend all of your income then you will have no savings and no investments - you will need to work each month just to get by.
     
  4. fxstreet

    fxstreet Senior Investor

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    The question certainly caught my attention. I can't find a good answer for that. Maybe when I start making money while sleep, I will come up with an answer. I think the best way to make money while you sleep will be to have a multi business.
     
  5. longtermbull

    longtermbull Administrator Staff Member

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    It has never been easier to set-up an online business than it is today. The key is marketing and actually getting yourself noticed :)
     
  6. fxstreet

    fxstreet Senior Investor

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    Actually it does not need to be an online business. You can set up an online business that does no require your presence at all times. Made is made from such business on a daily basis and you don't need to be there. As the CEO, you can employ business managers who attend to the day to day work affairs.
     
  7. longtermbull

    longtermbull Administrator Staff Member

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    I think CEOs who join a company with no practical knowledge of what happens further down the management/worker chain are taking a big chance. History shows that the best CEOs are those who work from the bottom upwards.
     
  8. gowiththeflow

    gowiththeflow Senior Investor

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    I think the principle is perfect, using money to invest and having no direct control over the businesses - making money while you sleep!

    On the subject of inexperienced CEOs, I’m not sure why you would join a company at the top level without any real knowledge of what the company does or how it works. History does show that the most successful CEOs are those who have worked their way up through a company.
     
  9. longtermbull

    longtermbull Administrator Staff Member

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    I doubt many traders will be sleeping at the moment - just when you think it is time to short ahead of a big sell-off, boom, the market rebounds. Very very difficult to read this market at the moment but if you get it right there is a lot of money to be made.
     
  10. Phillip Mark

    Phillip Mark Active Member

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    Ironically, what I see from the quote is this; always find time to rest and enjoy the produce of your hard work. We shouldn't always work and work without rest.
     

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