The Art of Staying Rich People say earning money is difficult, but I argue that keeping that earned money is even more challenging. In the 21st century, the number of billionaires is increasing year by year, with new billionaires entering the 1% club even as current billionaires maintain their status. The main question is: how do the rich stay rich? They don’t sell companies every day. The rich must pay higher taxes, and their cost of living is exorbitant, yet they continue to hold onto their wealth and remain in the 1% club. While I can’t answer how they earn their fortunes, I will explore how they manage to stay wealthy. The Two Major Challenges for the Rich: Non-Liquid Assets and Taxes According to me, the rich face two major problems: non-liquid assets and taxes. People generally prefer their assets to be liquid, meaning easily convertible into cash. However, liquid assets come with the problem of taxes. It’s a never-ending story—no one gets anything without sacrifice.
THE TRIO CRISES "A Butterfly Effect of Mismanagement" The Trio crises are comprised of three main economic crises: Sri Lanka's (2019 - Current), Pakistan's (2022 - 2023), and the United Kingdom issue (2021- Present) Covid - 19 is said to be the backbone of all of the above crises. This may be true to some extent, but many people blame the country's poor economic management. Covid 19 entered the global economy in March 2020, however these nations' economies slowed before the Covid 19 itself. Yes, Covid -19 exacerbated the situation, but countries may mitigate its effects by effective economic management. The Trio crises Explained. Sri Lanka Economic Crises (2019 – Present) Sri Lanka is a Democratic Socialistic Republic with population of 2.15 Cr in 2022. For the first time in the history of Sri Lanka the worst economic crisis has been witnessed. The present government is grossly responsible for this kind of economic mess in Sri Lanka. People from all wal