Riches is first of the heart before it manifests. It seems as if the saying “Fake it, and you make it” is true. ‘Fake’ herein does not connote negative meaning. There are things you have to do to become rich, and continue to do to stay rich. 5 of them are highlighted below:
1. The rich don’t work for money, they work to learn. Money is good but make sure you always learn on your own and from others in your place of work. It’ll be useful to you later.
2. It’s not how much you make, it’s how much you save. This does not negate the principle of tithing and giving. Also note that, saving is not an end in itself, it’s a means to have capital to build assets and investment.
3. Mind your own business: You can’t all your life work for someone else. Don’t focus on your Income Statement, focus on your Asset Column. Keep your daytime job, but start buying REAL ASSETS. Keep expenses low and reduce liabilities.
Real assets include:
i. Business that don’t require your presence. You own them but they are managed or run by other people. If you have to work there, it is no more a business but your job.
ii. Stocks & Bonds: If you want to be a good investor; find an opportunity that everyone else missed; and learn to raise money. Investing is not buying, it’s more a case of knowing.
iii. Income generating real estates.
iv. Notes (IOUs).
v. Royalties from intellectual properties, such as music, scripts and patents.
vi. Anything else that has value, produced income or appreciates, and has a ready market.
“Since it is not easy to start a company, you can keep your day job and mind your own business. Keep your day job, be a great hardworking employee & keep your asset column strong.”
4. Be smart and ascertain the correctness of the amount you pay in tax.
5. The Rich invent money: Often in the real world, it’s not the smart who get ahead, but the bold. It’s good to be hardworking and smart, but I repeat you have to be bold in taking risks.
Reference: Rich Dad, Poor Dad by Robert Kiyosaki & Sharon Lechster.
You can also read, “Why We Want You to Be Rich” by Donald Trump & Robert Kiyosaki.
“For what shall it profit a man, if he shall gain the whole world, and lose his own soul?” Mark 8:36