What Do Rich People Have That The Poor Does Not Have Apart From Money? The rich has money which the poor does not have but aside that, there are other urbane possessions of the rich that the poor don't have and I will just write on10 of such. The rich has money because they have learnt how to make money flow to them effortlessly but the poor would never know or do that These other urbane possessions of the rich include: 1. Wealth Mindset The rich has learnt that his mindset is everything and thus he guards jealously never allowing weeds and negative thoughts to live therein and making every effort to avoid the victim mentality. But the poor has accepted his condition as his fate and thus makes no efforts to extricate himself from the poverty pool. 2. Personal and Financial Discipline The rich has taught himself both physical and financial discipline. He does not speak out of tune, he has a cultured mannerism, is often courteous and humble. He also...
Who Are You Accumulating Wealth For?
Wealth is the desire of many a man and being wealthy is it really because it takes one out of the realms of the beggarly and complainant. However, when you strive to accumulate wealth, who do you do it for?
Have you read the stories of men who lived so frugally that they could be passed on the road and regarded as beggars only for them to die and leave millions of dollars as inheritance to their relatives?
It is good to accumulate wealth but while you are at it, don't allow yourself to just live for those who shall inherit you. Live while you are alive. Enjoy your money while you still can. Plan for your old age with the money you are making, don't leave everything to chance and children, they may not be there for you.
Spend at least 85% of what you have accumulated on yourself and your better half and then leave about 10% to your inheritors and the remaining 5% to charity.
What really matters most to your inheritors is not what you left behind TO and FOR them, it is what you left behind IN them.
So if you leave ENOUGH in them, it does not really matter what you left TO and FOR them
If you leave enough TO and FOR them, they will run through everything you left for them to live and survive BUT if you leave enough IN them, you don't have to leave so much to them because then they can go out there and make their own way in life and also make their own wealth.
And while you are at it, remember that most persons who come into sudden riches due to inheritance go broke within 3 - 5 years because they did not learn the art of money management.
So be properly guided.
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At Wealth Is Earned Blog, we believe that being wealthy is a choice just as being poor irrespective of the circumstance and situation and it all streams from the mindset. Throw 2 men into the same gutter, the one with the wealth mindset will make it to the top while the one with the poverty mindset would be there and groveling with other inhabitants of the gutter - it is a mindset thing. God has given you the POWER to make wealth, it is your ABILITY to APPROPRATE what God has given you that makes the difference and it is wholly and entirely dependent on you
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Dr. Jerry - the First Oguzie is a Physician, an Author, a Writer, Thinker, Founder, Convener and Success Coaching addict. He is passionate about helping people become the best versions of themselves through coaching, mentoring, teaching, enlightening and enhancing their self worth. And the Platform he uses to reach out to people is his Ministry of Encouragement (MoE). He has deep interests in Personal Development including mindset reset and habit change, Personal Finance, Wealth Creation, Health and Fitness. He believes that financial knowledge (literacy) combined with self - discipline is the key to achieving financial freedom.
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1. Living and maximizing your wealth
ReplyDelete2. Wealth creation is very imperative in our lives. While at it, we should be able to spend on ourselves rather than living frugally
as to leave so much behind for our generation who may not really appreciate the wealth
3. I haven't accumulated so much wealth so none resonate with me. I haven't really experienced it. I am still in process of wealth creation
4. I agree with this post because one should live a good life and help as much people as they can while alive because you can control anything while you are dead. The wealth you left behind is at the mercy of people who may not appreciate it so make meaningful impact on the lives of children, family and friends, teaching them good morals, hardwork and self reliance so that they can appreciate whatever given to them
Morgan Oscar
ReplyDelete1. Who will inherit your wealth?
2. Enjoy the wealth you worked hard to build. The best legacy one can leave behind is the mindset you instill in your would be benefactors and not the fiscal cash.
3. "Leave enough in them". This got to me because I know that what matters most is the knowledge to grow ones wealth and not live on another's
4. Yes. Life is worth living to the fullest in comfort.
1. Who are you building WEALTH for ?
ReplyDelete2. Accumulating wealth is important.Shouldering one's responsibilities and at the same time enjoying ones sweats are critical.History shows that what is left IN inheritors matter more than what is left behind to them!
3. The phrase that resonated with me was "Live while you are alive" In my existence on this planet Earth, I have seen people accumulate so much wealth yet lived so beggerly and miserably such that I asked myself 'whats the essence of wealth accumulation ?
4. I totally agree with the sentiment behind the write up. History is replete with similar scenarios and my prayer is that we should not allow bad history to repeat itself and this is only possible if people will take the initiative to know what has happened before and avoid the bad and the ugly !
Good morning THE CONVENER & FELLOW WEALTH CREATORS. Thanks DR. JERRY -THE FIRST OGUZIE JP for provoking positive thoughts in us and enjoy a great day and a brand new week !!
Living life to the fullest while one earns along.
ReplyDeleteWealth creation and making is good. One must equally take care of oneself while the wealth last and bequeath the art of making wealth to the inheritance.
The one that resonated with me more is; eating 85% of what one has earned, give 10% to the inheritance and 5% to charity. The fractions in the sharing was amazing, that of 10% to be bequeathed to the supposed inheritance is still resonating. I was thinking that, 50% will be left behind.
The sentiment of 85% is almost bourgeois for me to comprehend though it's still resonating in my head. I was thinking like I earlier said, that this labour should have meant transferring at least 50% to the incoming inheritance. Anyways, it's still resonating.
1.Wealth accumulation is non essential. 2.Wealth creation is good,it is equally crucial that one enjoys his own riches while alive because you don't know how the person coming after you might treat the money,whether he will be a fool or apply wisdom to what was left for him. What matters most is the legacy left behind which will last forever. 3.The sentence that resonated most with me is What really matters most to your inheritors is not what you left behind for them,it is what you left behind in them.This made me to understand that what I left for my heirs don't necessarily matters as to compare to what I instill in them ,hence I will try to equip them to know how to fish for themselves while I am alive. 4.Yes I totally agree with the sentiment in the post that as much as we accumulate wealth, we should take care of ourselves plan/share the riches while alive because when we are no more we cannot be able to make any contribution as regards to our wealth.
ReplyDelete1. What will happen to your wealth when you are gone.
ReplyDelete2. We have got to take care of ourselves while we are still alive. There will always be a way out for our loved ones we are always worried about. They will sort themselves out even if the money is not there. Learn to invest for later days and while you do that, also remember to take care of yourself while you are still alive. The point is that, there will always be one problem or another, we can't solve all the problems once. Once you are a human, there is definitely going to be some issues. Learn to take care of yourself when with the little resources you have and remember to invest while the opportunity is still there. The people you will leave behind will sort out themselves.
3. Enjoy your money while you still can. Plan for your old age with the money you are making, don't leave everything to chance and children, they may not be there for you.
4. I totally agree with the statement because, when we look around us, we get so worried about the future that we forget to enjoy the present and do the needful. Ww get so distracted about what will happen to loved ourselves when we are no longer there. Learn to take care of yourself and nature will sort out everyone in due time
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ReplyDeletefamous today… i was deeply strangled up by poverty
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1. A refocus on Wealth accumulation.
ReplyDelete2. Accumulating wealth for relatives and children will only end up in making them lazy, instead learn how to enjoy while creating wealth, treat your spouse right and leave some for charity.
3. This statement "It is good to accumulate wealth but while you are at it, don't allow yourself to just live for those who shall inherit you" resonates with me most because it's a reminder that I should make out time to take care of myself with my wealth first.
4.yes, I agree with the sentiment because like I tell people you are the one who struggles for these things, cracking your head, working 8-6 so you should treat yourself well. Enjoy when you have to, go for vacation when you feel like and train your kids to be self reliant.
1. Leaving an inheritance; a formula for sharing...
ReplyDelete2. It is good for a man to leave an inheritance for his children (even children's children, Proverbs 13:22). However, he should take good care of himself and make his own impact on earth, he he should live alive. Also, inheritance is not limited to material things, as what a man leaves 'in" the children will also count as heritable, things like education, wisdom nuggets, values , wealth education etc.
3. "Live while alive", resonates with me. It captures the essence of a life of impact. Sometimes we are so carried away by what we are doing for the next generation through our children that we forget to even live in this generation our own lives. A balance must be struck. Wisdom is profitable to direct.
4. I agree that a man should leave an inheritance for his children, because this is how generational wealth comes about.
However, I do not agree with the proposed formula that 85% of a man's wealth should be spend on self and spouse, while 10% goes to the children and 5% goes to charity. In my opinion, this formula assumes a small fortune, at certain levels of wealth a man can not even spend 50% of his wealth on himself, simply because the wealth is enormous and spending money for spending sake is folly. Again, the formula does not factor in wealth that is not spendable.