31/08/2021
Money Quadrangle (How the Rich Create their Wealth).
I read Rich Dad, Poor Dad many years ago, and I have been following Kiyosaki on YouTube for years. One of the major reason I love Kiyosaki works is how simple he makes finance... no confusing grammar or terminologies, simple and straight to the point.
When it comes to financial planning and searching for a start up or hustle to start, it is important you understand finance first. Financial education is very important. You should keep your brainstorming on hold and do the ground works first, your life depends on it.
Ubong King would always advice "Set the target for the amount of money you want to make, then start looking for businesses that will give you that money." You can make millions from your phone repairs shop, but it will definitely take a long time.
Planning for financial freedom as an Employee is not a waste of time, but you have to have a good salary and top notch investment strategies. Depending only on salary for income is high risk and life-threatening. One bad day for the boss, and you are back to grass.
A self-employed business man or skilled worker stands a better chance, but he must maintain discipline, reduce cost, maximize profits and plan for expansion; that includes hiring staff. A self-employed business man must also be a good manager of people and money. Some percentage of the net profits goes back into business, while some percentage goes into investment.
The business side of the board is where things get interesting. Minimum effort, maximum profits, well informed and strategic investments. Note that business here is refers to a company, corporate body, organization or big business with more than 200 employees. Thus, basically, the business owner directs his subordinates on what to do and sets targets.
The beautiful thing about investment is ZERO EFFORT, MAXIMUM RETURNS. You put in some money in an investment vehicle and then the money keeps giving you returns throughout the lifespan of the investment.
This is where it gets tricky... Investment returns can be positive or negative. You can accrue losses or interests on your investment. Hence, you need to be thorough with your research before you put in money.
In the current world economy, the best places to put your money now are Real Estate, Blockchain Technology/ Cryptocurrency, Agriculture, Renewable Energy, Green Solutions and Tech start ups.
Orthodox bonds and bank investments are obsolete and low-yielding. Putting your money in the bank as an investment is a waste of time and resources.
The important thing is to understand finances, then make plans and work towards it.
Remember, whatever plans you make, always have INVESTMENT at the center.
P S. If you want to start your journey as an investor in real estate, I will help you buy lands in any of our Estates. Our Capital City Estate close to Anambra International Airport is a wonderful place to consider.
Call me on 07037598977.
ยฉ Evans Okoli