Orientation for a Secure Financial Future

Scanning the landscape of your financial future?

There are about six major ways to become wealthy:

  • Be Born into a Wealthy Family

    • It goes without saying that
      • if you are the child, relative, or heir of
        • Warren Buffet, Bill Gates, Sam Walton, or
        • Africa’s Aliko Dangote, or Mexico’s Carlos Slim, or
        • any of the royal families in Kuwait, Oman, or Dubai, etc.
          • you WILL also be wealthy.
    • But this path to wealth is not available to over 99% of the planet!
people dancing
Photo by Roger Sekoua on Pexels.com
  • Marry into a Wealthy Family

    • Kate Middleton, and Meghan Markle
      • married into British Royalty and into Wealth!
    • The wives of Rupert Murdoch, Mark Zuckerberg, and Elon Musk
      • all married into wealth.
    • However, this road is reserved
      • for only a tiny sliver of humanity. 
      • It also appears that
        • the wealthy generally marry
          • people of similar economic status.
  • Win a Lottery Jackpot with a Big Cash Prize

    • The odds of winning the mega million jackpot in the US
      • for example, is over 1 in 300 million
      • that means it is ‘possible’ to lose over 300 million times
        • before you win once!
      • It also means that you may never win
        • if you play the lottery every day
          • of a 100-year life span
          • (that is about 36,600 days!)
          • and never win!
      • As a means to wealth,
        • winning the Jackpot is therefore a ‘false hope’
        • for the majority of us.
      • Note:  Forget about the publicity
        • around those who win;
        • the prize money
        • (less the portion
          • that goes to the organizers)
          • is coming from all those who did not win,
            • (that is a lot of people!)
crime scene do not cross signage
Photo by kat wilcox on Pexels.com
  • Steal Money From Plenty of People or From a Wealthy Person

    • The problem with this approach is that
      • it is illegal and you may get caught, 
      • it is anti-biblical, unethical, and immoral; moreover
      • people/the wealthy will work to protect their money, and
      • therefore the success rate of achieving lifetime wealth
        • through thievery is also very low.
    • Therefore, this is not a viable approach to wealth
      • for average person
      • (some still try to make a living
        • by scamming people out of their money).
  • Become a Successful Professional in a Well-paying Industry 

    • Note: “successful”
    • Also Note: “well paying industry” of the economy, meaning
      • star athletes, champion sportsmen, movie stars, etc.
        • at the top of their profession
        • (Usain Bolt
          • the 100 meter Jamaican world record holder
          • is reportedly worth over $30 million
            • in 2019!);
      • professions requiring high qualification, and
        • that are in high demand
        • but with low supply of workers, for example,
          • brain surgeons, computer whiz, fund managers, etc.
    • Also Note: Working for income in an excellent but regular job
        • is not usually a means to wealth!!
    • The possibilities here in my judgment are greater
      • than the previous listings
      • but still for most people
      • it is not a feasible way to build lifetime wealth.
  • Start and Run Your Own Successful Business 

    • Note again “successful”
    • Starting and running a business requires
      • special skills
        • which many people do not appear to have;
      • willingness to take risks,
      • willingness to bear full responsibility
        • for your own welfare.
      • But with risks comes financial reward
        • that can grow without limit
          • into lifetime wealth,
          • as long as the business continues to grow
            • and is successful.
    • The proportion of people who can take this is also greater 
      • than than the previous options!
  • Get A regular career and invest wisely

    • in other Successful Businesses
      • over a long period of time!
    • Note: you do not have to be successful at
      • starting and running a business; but
        • you must be good at picking successful businesses
          • over a long period of time!
    • This means using modest regular income, and
      • saving all you can, while
      • investing in businesses that are successful,
      • over a long period of time,
        • will generally compound into wealth!
    • This is the most available route for most people!
      • More next time.

On a final note:

  • Becoming ‘wealthy’ need not be your goal, rather
  • Make it your goal to become Financially Free:
    • Have enough to tithe and give to the work of the Lord.
    • Have enough to cover your budgeted expense
      • including miscellaneous, as well as
      • unplanned and unexpected expenses.
    • Have enough to cover for emergencies.
    • Save enough to guarantee a desired standard of living in retirement.
    • Have enough to leave a legacy for the next generation!
    • Have enough to be generous and make a difference in the lives of others.
  • This we can all do
    • If we start early,
    • with much planning, prayer, and discipline!!

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