The poor man’s life cycle

When i was young someone told me that, once a poor man always a poor man. I did not understand because there are many people who were poor when they grew up and are now rich. So to some point i did not agree with him but as a little boy i couldn’t argue with him.

As i grew up i got involved in business and i started dealing people, meeting with rich business people and sharing stories with rich and poor old people and what i am sharing with you in this article is what i found out, which i now call the “THE POOR MAN’S LIFE CYCLE”, and i will point out what i think are some of the solutions that you can implement to avoid falling into the same pit.

Yes, THE POOR MAN’S LIFE CYCLE.

This is what i observed.

Some people grow up poor, really poor and at some point in their life they get rich. They buy nice stuff, cars, houses etc. But when they get old they are poor again and some die poor. The life cycle of a poor man. The question is how and why ?

What i have noticed is that many people when they get rich they fail to invest their money into something that generates more money. Some call this investing in “Assets”,  and this is what i see many rich people do. Yes someone has a great job and earning lots of money but one thing that many old poor people that i spoke with failed to foresee is that when you get old the company is going to force you to retire and some companies will give you a nice pension money and some don’t. But with old age there are healthy problems and for most of the old poor people i have spoken to, their pension money is finished within 1 year of retirement due to medical expenses. After 2 years the old person is poor again. The cycle has repeated itself again.

The problem is simple, the poor old guys when they were rich at some point in their lifetime failed to invest their money into assets that generate more money. Now when they are old the same assets will still generate money for them to cover for all their medical expenses and many other things. They failed to think about tomorrow, they failed to plan. So its easy if you fail to plan, then you are planning to fail. Taking a one mil short gun and shooting yourself in the foot.

Some solutions to avoid the THE POOR MAN’S LIFE CYCLE. Check the next article coming soon…..