In this post I will be sharing with you the deepest secret which the rich hide from all of us, however this secret is in our mind and in our time, it is the greatest gift God has given to us, this secret has made rich very wealthy, I am going to be sharing that secret with you in this post. This is going to be one of my longest posts, but it is loaded with contents that will change your life and make you acquire great wealth that you can ever imagine.
So you can sip your coffee or tea while you read through the deepest secret of how the rich acquire their wealth which you too can try and become very successful like them. The first secret that the rich have is financial knowledge; they know the two greatest gifts that God has given to us and had worked towards it. I will be talking on the greatest gift that our creator has endowed us with and that gift is Our Mind and Our Time.
Our mind conceives ideas while we use our time to actualize those ideas that our mind has conceived and it this ideas that will guide us through our struggle in life and lead us to success. The greatest gift God has given to us is our mind and our time; it is up to you to do what you please with both.
With each money that enters your pocket, you and only you have the power to determine your destiny. Spend it foolishly, you choose to remain poor, spend it on liabilities, you join the middle class who work all through the rest of their life without achieving financial success, invest it in your mind and learn how to acquire assets and you will be choosing wealth as your goal and your future.
The choice is yours and only yours. With the little money in your pocket, you decide to be rich poor or middle class. That is, you decide to be an employee all through your life, a self employed who struggle financially but meet no success or you decide to be an entrepreneur and an investor who build businesses and assets.
The rich buy assets, the poor and middle class buy liabilities, the rich build connections, the poor and middle class search for a job, the rich play it smart, the poor and middle class play it safe, the rich take risk, the poor and middle class are afraid of taking risk.
It is very important to know the differences between the rich and the poor, why the rich get richer and the poor get poorer. The major reason is because the rich make use of the greatest gift given to us by God and that gift is; Our Mind and Our Time.
It is very important to know the differences between an asset and a liability. An asset is something that brings in money while a liability is something that takes away money from you. The rich buy assets while the poor and middle class buy liabilities.
In the world of business, they are just three types of income we work for, and they are listed below;
- Earned Income
- Passive Income
- Portfolio Income
*Earned Income is income from your job or from your local business; it could be your monthly, daily or weekly salary. The school system prepares us to acquire Earned Income.
*Passive and Portfolio Income are income you earn from your real estate investment, your businesses, assets, stocks and mutual funds. This is the income that made Bill Gate the richest man in the world and Aliko Dangote the richest man in Africa. It is this income that gives you financial freedom.
The key to becoming wealthy is the ability to convert earned income into passive and portfolio income as quickly as possible. Learn to have money work for you instead of working so hard for money. In the world of business we have four classes of people who strive to acquire wealth and in the cash flow quadrant.
They are refer to as the;
Employee (E quadrant)
Self-employed (S quadrant)
Business Owners (B quadrant)
Investors/Entrepreneurs (I quadrant).
The E & S quadrant works for earned income while the B & I quadrant work for passive and portfolio income.
In practical steps; for you to acquire real wealth and start earning passive and portfolio income you have to do the following;
- Invest in your mind; read motivational and inspirational books, attend motivational seminars, watch motivational videos and listen to motivational audios. Invest in your mind, seek for financial knowledge, because it is financial knowledge that will make you become financially independent and therefore attain financial freedom.
- Keep your day job; don’t quit your job yet if you are starting a new business and fighting your way to become a successful entrepreneur. Use your earned income from your job to fuel and build your assets and businesses. Use your earned income from your work to buy assets, please don’t buy liabilities. Buy assets that will earn you passive and portfolio income.
- Invest in real estate; buy houses and properties, put the house for rent and acquire passive and portfolio income from your tenants. Buy busses and motorcycles and put them on the road. Open a supermarket, salon, school and employ experience people to work there while you pay them monthly salary. If you are a blogger and your blog has become really popularly and earning you decent amount of income, hire experience bloggers or contents writers to fill up your blog with inspiring post that will attract more visitors and earn you more income while you pay them monthly earned salary and invest in other businesses. You can stand as an overall supervisor and let experience and intelligent people handle your businesses for you.
Buy the house of office you want to use for your business and don’t rent it from somebody, always learn new things everyday through constant reading of books, attending seminars, watching motivational video, listening to motivational audios. Be a good observer, a good listener and always learn from personal experience, feed your mind, invest in your mind because your mind is your greatest asset, use your time wisely, work hard to acquire financial knowledge, because that knowledge will help you to turn difficulties and challenges into opportunities, it will help you to excel in time of hardship, inflation and bad economy.
When you do this practical step, you will attain financial freedom.
Look at your spending habit, learn to save and invest on your business. Eradicate the get rich quick mentality from your mind because making real money takes a lot of time and hard work. Be generous in teaching, because you learn as you teach, learn to share your knowledge and experience with others, learn to give, because when you give you will receive.
Through research and personal experience it has being confirmed that poor people are more stingy than rich people, poor people find it very difficult to give that is why money find it difficult to enter their hand or pocket, but the rich are very generous and free to give, that is why money always enter their hands and pocket. So learn to give and you shall receive abundantly.
Financial knowledge gives birth to financial independence and financial independence gives birth to financial freedom. Learn to convert your earned income into passive and portfolio income, it is very important to know this secret that makes the rich wealthier. It is because they use their earned income to acquire passive and portfolio income and it is only your mind can open this secret for you
Train yourself in sales, marketing, advertising and effective thinking. Buy assets, don’t buy liabilities, it is only when you have acquired real assets that you can use your assets to buy your luxuries/liabilities. Instead use your earned income to buy assets and then use your passive and portfolio income to buy your luxuries/liabilities and enjoy the lifestyle you have being dreaming of all through your life.
The rich invent money and have money work for them through real estate investment and businesses while the poor and middle class work so hard for money through out their life and have nothing left for them at retirement age.
The rich pass their wealth unto their children while the poor and middle class leave so much debt for their children to pay. The rich train their children privately on financial knowledge while the poor and middle class push their children to go to school and acquire formal education, professional skills and certificates that they will not make use of in their future. The world has advanced and we are now in information era. Just like the adage which says; information is power, the information you have determines your success. That is why those in entertainment industry are making money daily because they are following the current trend.
Own your own corporation and stop working for somebody all through the rest of your life. Play smart and be wise, investing is not risky; it is the use of common sense. You can put or invest $1000 in a new business, then when the business grow a little, you can remove the capital ($1000) and put it where you brought it out from and use your income of profit to invest more on the business and watch your business grow into a multinational firm. It is not a magic, it the principle of financial knowledge.
The key to financial freedom is the ability to convert earned income (salary/profit) into passive and portfolio income (wealth). Mind your business, treat your business like a child and nurture it to grow, treat your new business like a nursing mother and watch it grow and excel. One of the reason investors make so much money is because they have self-confidence, they are not afraid of losing. Earned income is money you work so hard all through your life to acquire while Passive and Portfolio income is money working for you.
With this post I believe you have learnt the secret of the rich and the important of investing in your mind and in your time. I believe you have seen the two greatest gift given to us by God and I believe you will follow the procedures and acquire wealth and attain financial freedom.
I sincerely believe that this post has really inspired you. Never miss any of my updates on this blog, sign up for email updates at the right side bar of this blog, please remember to confirm your email and continue visiting this blog regularly on a daily basis and be consistent with it and I promise to supply more quality contents to you guys.
Patience, dedication, passion, hardworking and prayers to God are the fundamental keys to financial success and freedom in life.
If you love this post, you can share it on your Facebook, Twitter, Pinterest, Linkedin, Tumblr, Instagram and Google+.
You can also subscribe to my YouTube Channel to watch inspirational videos from Joel Osteen and Nick Vujicic.
Stay focus with our blog and get inspiration and motivation that will guide you through your journey of success in life.
You can share your thoughts and opinions at the comment box.
Always stick to this Site if you really want to change your life and receive inspirations and updated information on how to develop yourself personally, establish your own business and make good money from it.
- Top 10 Richest Pastors In The World In 2023 - February 7, 2023
- Top 10 Richest Pastors In Nigeria In 2023 - February 6, 2023
- Biography And Success Story Of Nollywood Actor Yul Edochie - February 5, 2023