Don't take investment advice from poor people!

Bookwormlux

Valued Contributor
In our bid to make money, we tend to seek for relevant information that would enable us to invest our money in businesses that would help us to continuously make profits.
In our pursuits for this knowledge, some of us make the mistake of taking advice from people who are not rich and do not have the habit of investing.
The only thing they know about investments is what they listen to in the news and from discussions with friends.
These set of people are not properly informed and would only scare you into thinking that investing generally is a risky venture and would tell you to play safe often, not minding the fact that the rich are people who are not afraid of losing, because they understand that failure is a very good way to learn.

Instead of taking advice from poor people, it is better to read business books written by rich people to know how they do things what do you think?
 

Alexandoy

VIP Contributor
I do not like the topic because I have many friends who I consider poor people. They have the wisdom that I admire. One actual example is the security guard of our office. We became close because I admire his wisdom and knowledge. Maybe he did not get rich because there was no opportunity. Being unlucky in life does not mean you are an idiot with no brains.
 
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Cinderella

Active member
I could get lessons from both the rich and the poor. But for advice, I would definitely take it from the successful and rich people. They are the right persons to tell what they have done in order to achieve financial freedom and success.

I am currently reading a book, Think and Grow Rich by Napoleon Hill and there are many good lessons I learned from this book.
 
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Abigael

Valued Contributor
"Don't take advice from poor people" seems a bit harsh. Not everyone chooses to be poor. Anyway, I get your point. Most people become poor due to the fear of taking risks. When you ask for advice from them, they will lean more on the negativity of taking risks than the positives.
 
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Sotherefore

VIP Contributor
"Don't take advice from poor people" seems a bit harsh. Not everyone chooses to be poor. Anyway, I get your point. Most people become poor due to the fear of taking risks. When you ask for advice from them, they will lean more on the negativity of taking risks than the positives.
There is nothing harsh about this, anyone that is poor should only remains in his poverty mentality and should not care to give out advice to people on how to succeed, it is not really necessary because if they have known it themselves they could have not been in that position they are today.
 
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Augusta

VIP Contributor
Do you know most rich people around were once very poor and built their conglomerate from scratch. Sometimes being wealthy isn’t from other people’s knowledge but from personal experience. It would have better to say that one should seek business information from successful business owners. This isn’t about the rich because a thief can also be rich, so one should also seek wisdom from such because the person is rich
 
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Chibson

VIP Contributor
There are poor people who have the knowledge and understanding of how successful business operate, so who you telling people not to you received advice from poor people is definitely not good. as much as I understand what you're really meant but that does not mean that every poor man does not know how business works. Remember there are poor people today who we are rich yesterday.
 
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IamDozzy

Valued Contributor
I don't subscribe to this point of view, one can learn about Investment opportunities and advices from both rich and poor people. It is up to the individual to sieve the advise and take the useful ones while dumping the not so useful ones. A poor person can give you advise on investment based on the experience with an investment gone wrong and you could learn from those mistakes made by the poor person. Do not look down on poor people because they took have a lot to offer.
 
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Sethbala11

VIP Contributor
I will not see that I am going to take investment advice for poor people but then their contribution is something that is going to be very valuable if you want your business to be a success. They might be poor people yes but the issue from part of the buying population which is what you are looking for.
 
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Makah

Verified member
This doesn't sound well because being poor doesn't mean you can be an intellectual person and advises should be taken from both rich and poor people and you should be the one to reason if the advice they gave you is a good one and then you decide if you should follow it or not
So it's not big deal taking advise from poor people
 
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Mataracy

VIP Contributor
In our bid to make money, we tend to seek for relevant information that would enable us to invest our money in businesses that would help us to continuously make profits.
In our pursuits for this knowledge, some of us make the mistake of taking advice from people who are not rich and do not have the habit of investing.
The only thing they know about investments is what they listen to in the news and from discussions with friends.
These set of people are not properly informed and would only scare you into thinking that investing generally is a risky venture and would tell you to play safe often, not minding the fact that the rich are people who are not afraid of losing, because they understand that failure is a very good way to learn.

Instead of taking advice from poor people, it is better to read business books written by rich people to know how they do things what do you think?
As for me I can not say that somebody should not take advise from those that are poor. I want you to understand that there are many people who has foresight, who are knowledgeable, who can give you hood advice despite that they are poor. Being poor doesn't mean that one can not give a good advice let's change that motive. Thank you.
 
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Good luck

Valued Contributor
I think you can take advice from both the rich and the poor. The fact that you are doesn't mean you don't have idea, you have idea but you don't have the capacity to execute or make your idea come to reality due to the absence of fund.most rich people do seek idea and advice from anybody as long as it will pay off.No man is an highland.We are all equal.
 
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Wisdom01

VIP Contributor
There is nothing wrong in taking advice from poor people , because those poor people might be rich before but due to some situation they became poor ,so no discrimination should be drawn towards them as we should learn from them as they could advice on how they became poor from being rich and we learn lesson
 
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Mika

VIP Contributor
If you are poor, it means you have never invested yourself (you don't have enough money for investment). If you have never invested yourself, you only have theoretical knowledge, your advice is not tested. Why should anyone take advice from someone who does not have first hand experience in investment
 
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btaliat

VIP Contributor
I may slightly digress a little bit. People don't know that we should learn better from failure than of success. The fact is that at times, we do remember what causes our downfall than what rises us. The poor can tell them their experience for being poor while the rich will only tell you to be fearless even when you need to be a lot bit fearful.
 
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