RULE 45: Build A Bit Of Capital Then Invest It Wisely

General Sam Momah, Accomplished Military Officer, Author & Business Man

Lots of people don’t
get prosperous because, as we saw earlier, they are too lazy. But a lot fail
because they don’t know what to do once they start to earn some money. It’s
easy to think, once you’ve got your hands on a bit, that you have earned it,
you deserve it, you’re going to spend it. You have earned it – assuming
you haven’t robbed anyone to get it – and yes you probably do deserve it. But
no, don’t spend it all now, no matter how much you want that new car, holiday,
cottage by the sea, whatever.

I’ve done it. I
guess we all have. I once got a massive tax rebate. I don’t remember why I was
being taxed so highly but I was for several years and when they repaid me it
was quite a handsome sum. And of course I blew it, on a splendid holiday. But
that’s the difference between the rich and the now so well-off. The rich see a
sudden windfall like that as an opportunity to make some more money out of it.
The not so well-off remain not- so-well-off as they see it as an opportunity to
have some fun. 

“Ah,
but I hear you say, I’m never going to get my hands on a lump sum. Not true.
You get your hands on a lump sum every week of your life in the form of wages –
I’m assuming you do have a job here. You choose what you spend that money on
mortgage, food, car, entertainment etc”


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Nothing wrong
with that, if that’s what you want in life -instant pleasure. But if you want
greater wealth and pleasure (albeit delayed) then you must learn as I did that
once you get your hands on a lump sum, or build some up, you must immediately
put it to good use. And frankly the only good use is as a starter kit for
prosperity
And it isn’t
lost, merely put to one side to work for you. Once it has grown and attracted
lots more lovely money, you can have all the holidays you want. But you have to
wait and you have to use that starter kit well and wisely. See it as a
‘loader’. This is a term guide who receive tips use for starting the tip
collection off. You have to put a loader in the plate or no one else will tip.
Buskers do the same thing; put a coin or two
into the hat to get the crowd going. No one will put anything into an empty
hat.
What you are
going to do is load your prosperity hat.
Ah, but I hear you say, I’m never
going to get my hands on a lump sum. Not true. You get your hands on a lump sum
every week of your life in the form of wages – I’m assuming you do have a job
here. You choose what you spend that money on mortgage, food, car,
entertainment etc. But if you want a way out of that particular lifestyle and
into another, you have to be proactive about it. And the way you start it to
put something aside each week to build up that lump sum. Once you have
something built up, think about where that money is going to generate you more
money, and get it invested. Ideally you need to turn that money into an asset
that will generate more revenue for you – be it share, a property you can rent
out, or something else. Wealth happens slowly over a period of time when you
turn surplus into something that will work for you.
From The Book; The Rules of Wealth by
Richard Templar
(Read Rule
46
of Rule of Wealth on Monday at Asabeafrika)


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