The Real Challenge: Earning vs. Keeping Wealth People often say earning money is difficult, but I argue that keeping that hard-earned money is even more challenging. In the 21st century, the number of billionaires continues to rise, with new entrants joining the elite 1% club while existing members retain their wealth. This begs the question: how do the rich stay rich? After all, they aren’t selling companies or launching IPOs every day. They face higher taxes, and their cost of living is astronomical, yet they manage to hold onto their fortunes and remain in the top tier of global wealth. While I can’t fully explain how they initially amass their riches, I’ll explore how they manage to stay wealthy. The Two Major Challenges for the Rich: Non-Liquid Assets and Taxes In my opinion, the rich grapple with two significant challenges: the illiquidity of their assets and the burden of taxes. Most people prefer their assets to be liquid—easily convertible into cash. However, liquid assets oft...
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...