Decide to be wealthy

Ayeromara Peter - updated: Thursday 28-08-2008

Wealth is not a single animal that all men must chase and only one person may catch. Wealth grows for people who are ready to learn and apply the principles of wealth. If you do not decide to become rich, the chances are, you will become poor. Getting rich has gone beyond the language used after the Second World War. The solution many people think can solve the menace of poverty after the World War II was to go to school, get a safe and secure job with benefits, retire at age 65 and enjoy for the rest of your lives. To those generations, a good education and a good job were adequate for financial freedom.

Today, a good education and a good job are not enough for financial freedom. As a matter of fact, they cannot guarantee your financial survival. There is one common thing that every employee will agree with me; there is no more job security any longer in our places of work. What we always hear is rationalization, retrenchment and lay-off. People who had successfully served their employers for 35years are not left out today. They are always at the mercy of their employers for their gratuity and pensions. For us to be rich in Nigeria , we must make alternative income generation plans that can stand the text of time. Many people are always in a hurry to be rich hence the reason they fall into wrong hands.

Don’t be misled by your own desire to make money fast, instead of you falling into the wrong hands, concentrate on a legitimate investment in the stock market that can make you retire rich and happy. Making money grow is the reason the stock market was created. The stock market is a place you can start with little amount of money and retire rich. No matter what is happening in the market now. The market will return bullish. The bear cannot continue forever. Stock market is the best place to start alternative income generations. Good companies will always declare bonuses to reward investors. If you decide to invest for long term, your investment can grow with time.

An example was a man that bought 1,000 units of First Bank shares in 1973 with (N500) Five hundred Naira. Last year, the units of the shares had increased from one thousand units to 350,000 units. This was as a result of Bonus issues declared to him by the Banks over the years. The capital market is a place you work less and earn more. They are many instruments in the capital market to invest in. Some of these include: initial public offers, public offers, right issues etc. If you really want to be very rich, you need to develop a thinking pattern that is different with the thinking pattern of those around you. If you want to have financial power, your thinking pattern must contradict or oppose the thinking pattern of your friends.

The thinking pattern of most people is to buy expensive cars, rent big apartment, buy costly jewelry etc. the rich always first of all, secure their financial future before thinking of material things. Why not invest that money you want to use to buy a liability now so that your future can be better. Remember, if you invest in stocks, you are investing in business, if you buy a piece of real estate, you are also investing in a business, if you invest in a Bond too, you are also investing in a business. The three assets can make you to be very very rich. The next best time to start according to a Chinese proverb is now.

See you next week