Tuesday, May 24, 2011

How To Work Your Way To Wealth 2


How do I multiply my salary

Somebody buys cement, paints and other materials to build a house. You live in the house and pay rent; making the cement and paint companies like BCC and Flour Mill investors very rich. Flour Mill and BCC just made their investors richer by 300%, even when you as a worker, was busy complaining of the stock market meltdown and refuse to invest.






Flour Mill grew from N14 in 2009 to about N80 even before the middle of 2010, from you eating Semovita and loaves of bread produced from their flour. What a workers life! A life of expenses, making others rich at the expense of their future. I have declared to myself that I will never join the crowd of wasteful investors whose pay packages are consumed by the daily running of their life. No investment, no planning, no preparation. Can you make that declaration? Just think about it.

Imagine if you had built a portfolio on Flour Mill with six months savings of N20,000 per month mounting up to N120.000 in six months. You would have been N680,000 richer, enough to buy the Tokunbo car you have always desired or pay your children’s school fees, or better buy a plot of land at Ibafo, Mowe(which is another investment). You do any of these without even touching the initial salary investment. Oh, had I known! That’s probably what you are saying right now, but it is not too late. You can start today, right now.

But I don’t want to go into stocks and shares because of one reason or the other, fine.  You can as well go into any kind of business or services based on your profession, with any of these, you can learn to mind your business as Brian Tracy would say it. All we are saying in a nutshell is to start thinking of how to make your money work for you, without depending on your salary, or gratuity. Oh! I forgot, many companies today are adopting a gratuity-less service. I mean, you work for a certain number of years, like 20years; at the end of the day, you are not getting anything as you are leaving the company. So, everything is included in the salary, it is left to an individual to know how to manage and plan for his/her own life. I know that this is a bad news to many; but presently, that is the direction of things.  We cannot avoid this change but to change our way of life.
The money you make investing can go a long way in clearing your domestic liabilities and most of all, acquire more liquidity for reinvestment.

Financial freedom is when you are able to use the money you’ve made, either from doing business or working for your employer or from any source of income, to generate more income to cater for your necessities, by introducing it into an instrument like the stock market where you will be given the opportunity to be part of their profit to build your own wealth and the future of your children, even as you work. 

Just take a deep look around you, you will definitely discover opportunities of  untapped resources. 

If you are in a paid employment, take full charge and exhibit your role without complaint, in such a way you would handle your own business. Run it as if you are running your own business without focusing all your attention on the money you are going to get at the end of the month. Be highly focused and motivated, sacrifice extra of your time in making the business a success. As you are doing these; keep planning, deprive yourself a flamboyant life in order to make good savings, within a short time, set up something for yourself, no matter how little. This is for you not to get yourself entangled in what I call TTR (the rat race).
Final Note: bad people kill for money, foolish people beg for money, good people work for it, great people make their money work for them. 

Preserve the hen that lays the golden egg, nurture the egg and let it hatch at the right time.
To your success!!!

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