Are you looking for a means to get wealthy? If yes, I need to let you know that this is very possible. To help you attain this. I am providing you with a quick reference guide to wealth. Make sure you read t to the end and apply what you find in the is post and in the guide. This quick reference guide to wealth was written by Alan Jacques and was inspired by one of my teachers – Robert Kiyosaki. It contains the qualities of broke masses, successful middle class and the rich few.
Having a copy of this will help you a great deal in your journey from the midst of broke masses to the company of rich few. Our desire is to see so many Nigerians on the list of the richest people on earth in five years time. I am so sure that you will be one of them.
| Broke Masses | Successful Middle Class Investor | Rich | |
| 1. Who | Employees | Employees & Self-Employeed | Business Owners & Investors |
| 2. Education | Highschool or college graduate | – Values Education, often college graduate – Attends course and seminars on investing |
Values only “street smart education”, often aquired from peers and/or self-learned |
| 3. Major financial goal | To survive until next payday | To build up a significant net worth by age 55-56 | Freedom |
| 4. Focus | Salary or hourly wage | Net worth | Cash flow |
| 5. Cash Flow Management (CFM) | “How much do I have in my wallet?” | Understands the value of CFM | Understands that CFM is the foundation to all wealth |
| 6. Definition of an asset | A 6-pack in the fridge | Anything that has market value | Anything that produces a positive cash flow |
| 7. Home | Would like to own one | One of their most important assets | A home is a liability, not an asset |
| 8. Investment vehicles | -Government pension – Lotteries |
– Mutual funds – Blue chip stocks – Real Estate: condos, houses & duplexes |
– Stocks: IPOs as investors and/or key shareholders – Real Estate: larger projects – Businesses |
| 9. Investment sources | The government | Invests in financial products created by others | Creates products and services to sell to the Middle Class and the masses |
| 10. Investment systems | Hope | – Dollar cost averaging (DCA) – Low down real estate systems |
– Create their own or modify others – Often learn from other rich investors who are their peers |
| 11. Expected rate of return | Get rich quick | 12% to 30% | 50% to 500%+++ |
| 12. Risk | Has no idea how to evaluate it | Accepts moderate risk | Most investments are low or very low risk |
| 13. What works | If it doesn’t work, keep doing it | Learn what works and keep doing it no matter what | Keep learning and innovate, innovate, innovate |
| 14. Time horizon | Next payday | Long term | Tailored to each goal or investment |
| 15. Real estate | Would like some | Buy & hold, waits for it to go up in value | “You make money when you buy, not when you sell” |
| 16. Most valuable resource | Paycheck | Investments | Time |
| 17. Why work? | Work for the weekend | Work for money of which 10-20% goes to investments | Money works so they don’t have to |
| 18. Advisors | Broke friends & family | Financial planners, accountants | Themselves, each other, coaches, selected professionals |
| 19. Resources | TV | – The Millionaire Next Door – The Wealthy Barber |
– Rich Dad/Poor Dad – The Cashflow Quadrant – The Cashflow Game – Robert Kiyosaki tape sets |
| 20. Key indicator event | Savings account with $100 in it | $1 million net worth | Passive income exceeds expenses |
| 21. Questions and Answers | Don’t really understand the distinction | Asks questions and seeks the right answer | Knows there are many answers |
| 22. Delegation | “If you want it done right, you have to do it yourself.” | “You can delegate what you don’t know” | “If you don’t know the fundamentals, you can get slaughtered!” |
2. Print out one and make photocopies as many as you can
3. Paste as many as you can where you can see it always.
4. Give out as many as you can to your friends
5. Share this post with your friends on Twitter, Facebook et al.
6. Attach a copy of the pdf to your email and send it to your friends’ e-mail
You would be glad you did. Remember, it is a guide. It will guide you on what you need to be doing in order to move from where you are to where you want to be. It’s a bad thing to remain poor. I am sure you hate poverty too. I am so sure that you do not want to remain broke.
The Quick Reference Guide to Wealth http://t.co/0gDlKLhqiO #WealthCreation
The Quick Reference Guide to Wealth http://t.co/k7Yzrvgn0q #WealthCreation