Thoughts on How to Build Solid Wealth

Proshare

Thursday, October 08, 2020 / 10:40AM / Grace Agada* /Header Image Credit: Forbes


Proshare Nigeria Pvt. Ltd.


One of the greatest problems in the world is the scarcity of wealth that stand the test of time. Solid wealth is wealth that cannot be stolen, lost or destroyed. It is wealth that is ever appreciating, never disappearing and irreversible in nature. Unfortunately, this type of wealth is rare. The world is full of liquid wealth and gaseous wealth. The type of wealth that evaporates, disappears and break under the weight of a pandemic. This type of wealth is fast because it is based on the acquisition of money and any amount of money can be stolen, lost or destroyed. Money itself is a weak form of wealth. It is thus not solid wealth. Solid wealth is wealth that is hard to destroy. It is based on becoming a certain kind of person that can produce money at will. 

 

The Difference Between Solid Wealth and Other Forms of Wealth

The best example that illustrates the difference between solid wealth other forms of wealth is the example of a Mango Tree. Solid wealth is like the Mango tree and liquid or gaseous wealth is like the Mangoes. The person that owns a Mango tree can never run out of mangoes. In contrast the person who buys mangoes is only mango rich for a short time. While it takes time to plant, nurture and grow mango trees. It takes little time to buy mangoes.

 

Similarly, while it takes a few minutes to eat up a few mangoes. It takes a longer time to exhaust the resources of a mango tree. Even when the mangoes on a mango tree is exhausted. The tree has the capacity to reproduce mangoes again. Solid wealth is thus about becoming like a mango tree that produces money at will. When you develop the capacity to produce money, you become a living money tree and your wealth never runs dry.

 

So How Can You Create Solid and Irreversible Wealth?

You create solid and irreversible wealth, through the following simple commandments.

 

The first commandment is thou shall have a Wealthy Mindset. A wealthy mindset is a mindset that has four attributes. The first is the attribute of abundance, then the attribute of possibilities, long-term perspective and fourth, the attribute of Value.

 

People with solid wealth have a wealthy mindset and bring enormous value to the table. They create wealth by offering value in exchange for money. The money they have is reward for the value they provide. People without value create liquid or gaseous wealth. They are entitled. Have a scarcity mentality. Are limited in their possibility thinking and have a short-term perspective.

 

To develop a wealthy mindset, you must renew your mind with three critical raw materials. First, you need the right knowledge. The right Knowledge can be gotten from the right books and information. Next, you need the right experience. The right Experience can be gotten through your own action or the actions of other people that you observed. And next you need the right personal environment. The right personal environment, is the environment you deliberately create to shield yourself from the toxicity of the external environment. Creating a healthy personal environment, produces the fertile ground you need for solid wealth to grow.

 

The second commandment is thou shall create wealthy Ideas. Ideas are a collection of thoughts that form a new body of knowledge. They are the raw material for innovation, inventions, products, and services. Ideas are like the seed you need to grow into a wealth tree. To Create wealthy ideas, you need three things. First is the ability to read and research. Second is the ability to understand what you have read in the context that supports wealth. The third is the ability to draw your own conclusions from what you have read. With the right knowledge, perspective and conclusions you can create great ideas that lead to wealth. Without great ideas, it is hard for you to create solid wealth.

 

The Third commandment is thou shall add Value. Ideas in its raw form do not create wealth. It is just a seed. And just like any other seed, it needs to be cultivated to produce fruits. To cultivate an idea, you need to add value. Adding value means converting ideas from its latent state to a state that produces value. To add value to ideas you need three things.

 

First, you need to know who an idea is meant for. That is who will benefit the most from your idea. Second, you need to find out what matters the most to these people and why they will be attracted to your idea. Third, you need to know how to reach them and how to market your idea in ways that inspire the exchange of cash. Not all ideas are wealthy ideas. To find wealth you need to focus on five key areas.

 

The first is Movement. Human beings by nature want to move from one place to another. They move to expand opportunities, acquire new territories and have new experiences. Any idea that Increases the speed and ease of human and cargo movement has the potential for solid wealth. The second area is the areas of Transactions. Human beings since history exchange cash, goods, and services. They do so because no one person or country has all they need to survive. People and countries depend on each other to get what they want and do not have. This makes inter person and inter-country transactions important. Ideas that ease and simplify transactions between humans have the potential for creating solid wealth. The third area is Communication. Human beings have the innate desire to relate with one another. Deep inside our DNA is the relationship spirit. Thus, any idea that speeds up communication, intimacy and the interactions between people has the potential for creating solid wealth. The Fourth area is Survival. Survival is the ability to live in a dignified human way. It is the most powerful human instinct in the world. Ideas that help people thrive financially, and live with human dignity have the potential for solid wealth. The Fifth area is Human development. Every human being wants to grow and become a better. Deep in every human being is the desire to understand themselves, their source, the world, other human beings, plants, and animals. This makes human development fundamental to human nature. Ideas that help people discover themselves, understand their source, discover diseases, Plants, and animals, are ideas with great potential for solid wealth. These are the five areas with the greatest potential for solid wealth.

 

Creating wealth that stands the test of time is not about money but about becoming a human asset with certain abilities that naturally reproduce money. To learn more about the other commandments send an email to info@createsolidwealth.com for a special free report.

 

In the face of Crises, all other wealth will fail only solid and irreversible wealth will thrive.

 

About the Author

Grace Agada is The Senior Financial Happiness Director @ Create Solid Wealth. She is an Author, Column Contributor in Six National Newspaper, Writer at BellaNaija, Nairametrics and Proshare with a mission to help working-class professionals and CEOs become more financially successful. To contact Grace, kindly send an email to info@createsolidwealth.com

 

Proshare Nigeria Pvt. Ltd.

 

Related News

1.      Savings: Living with Purpose and Compound Interest

2.     How to Make the Most of Your Money Each Month

3.     Improving Financial Competence with an Annual Savings Plan

4.     Things to Note about Wealth Management During the Coronavirus Pandemic

5.     How to Build a Healthy Financial Lifestyle

6.     Finding the Right Car Title Loan Provider

7.     5 Practical Things Small Businesses Can Do During This Pandemic Lockdown

8.     The Impact Of The Current Lockdown On Our Personal Finance

9.     Rosabon Offers Q2 Treasury Note of Up to 16.5 Per Cent

10.  Effective Methods of Being Money Savvy In 2020

11.   #PFSeries2 - Raising a Baby: The Pleasures, Pressures and Financing

12.  NCM2020 (27) - Savings and Other Deposits - Lagging The Inflation Curve

13.  Getting to Celebrate Valentine's this Year Without Breaking the Bank


 Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.


DISCLOSURE: This content reflects the views of the author(s) drawing on prior research and experience in their areas of expertise. It is not a reflection of our institutional position; and is not a recommendation to act based on the opinions expressed or names/products mentioned therein. Proshare Content and their owners, managers, employees, and assigns (collectively the "Company") are bound to comply with in-house governance rules requiring this necessary disclosure to ensure that readers, subscribers and consumers understand what the content is. All T&C applies.

READ MORE:
Related News
SCROLL TO TOP