Hello Hive
Gold and silver are not found on the surface of the earth. We all know the stress miners go through in order to dig the ground in search of these precious metals. The risks involves and the life threatening encounters cannot be overlooked yet we still have people willing to risk their all to dig out those wealth from the earth.
This tells us of how much we might need to sacrifice in order to get wealthy. Attaining financial freedom is the first key that has to be unlocked before we can pull up enough resources that will amount to something reasonable and work towards achieving the title of been called a wealthy person.
So many people have enjoyed the privileged of becoming wealthy through the finances assets or physical resources passed down to them through their lineage, this is called a generational wealth and these categories of individuals that inherit generational wealth may never understand the pain it takes to build those pillar of wealth that they have acquired.
An individual who has not put in any effort to work will never understand the pains involved in building up wealth and resources, such individuals are the ones seen to be involved in living extravagant lifestyle off the stress, sacrifice and hard work of their benefactors.
For anyone who has really sacrificed alot and paid a huge price to build their resources will always be on the lookout for how to manage and maintain their substances.
Been wealthy should not just be seen as having too much money or assets with larger net worth but some level of peace and happiness should be found around a wealthy individuals.
A thief cannot accumulate so much and be termed as been wealthy, such a one lacks peace and lives in fear of been arrested.
This is to say that there are no crooked ways to becoming wealthy.
And the manner in which an individual accumulates his wealth should be looked into when measuring the true net worth of such a man.
No body wants to live in poverty or in need but so many are yet to understand the sacrifices they need to make in order be wealthy.
In recent times we are beginning to see individuals becoming richer than a country, these world riches people are men who have challenge their status to do ordinary things in extraordinary way.
The sleepless night, tough financial decisions and money making ideas they have made are some lessons we need to learn that can be of help in our financial journey remembering the local adage that ask us not to feed a lazy man.
Everyone must be willing to work or pay some price in order to be wealthy in life.
And to those who have inherited resources in a platter of gold, there is alot to learn about wealth management system knowing fully well that regardless of how much you own, it can all be exhausted when mismanaged.
Wealth is derived from value, which is the usefulness of something in satisfying human needs. The primary needs for humans are survival and integration within a community. Therefore, wealth is a concept exclusive to humans and can only be created by them. The capacity to create wealth is limitless because humans have the ability to transform resources through their efforts into something valuable for others. The key is to preserve the created wealth, which led to the development of the concept of money. As long as money can preserve wealth and facilitate trade, it serves its purpose and can be passed down through generations. When successive generations understand the concept of wealth creation, they can accumulate significant wealth over time. This brings us to the principle of compounding, which is based on the combination of effort and time. These are my thoughts on wealth.
In Canada it has been said that the 1st generation comes in poor but works hard to make wealth. The 2nd generation works not as hard and enjoys the wealth. The 3rd generation doesn't understand the work, gets lazy and loses the wealth. Teaching my kids the importance of hard work AND spending wisely is super important.
Also important is understanding wealth. Many think wealthy is when you can buy whatever you want. I personally think it is when you have enough for all you need and can sleep well knowing you have saved enough to weather an emergency.
Finally a story from a wealthy man I met in the Philippines. He said when he was young and poor he could drink with friends and walk home..pass out on the road.. and no one would bother him.
Now he is wealthy. He can't go drinking with his friends without many guards to protect him. If he walks home he will be beaten and robbed.
He gained wealth but lost his freedom from too much wealth!
I like the idea of having enough and being simple enough to not become a slave to money.
Woah, this is so much light you have thrown on the subject at hand.
Here in my family, my dad thinks that everyone should work for his money and so does many family.
Some parents might be rich and leave their wards poor, they want them to learn how hard it is to build wealth just to avoid the 3rd generation from your comments who ends up been lazy..
Am sure I will have become lazy if I had inherited finances from my parent. Now I understand what it takes to make money.
Thanks for that practical life example, too many rich people are not free but bound because of their wealth.
As a side note: My father made a LOT more money than I ever will. In one year he actually made $500,000 CDN or about 170,000,000 Naira. He spent every penny and when he died I got NOTHING not even a cowboy hat to remember him by.
I learned one REALLY important lesson from him.
It's not how much money you make it is how you spend what you do make. He made an unbelievable amount of money and wound up with nothing.
Now my Great Uncle (Wendel) worked only a part time job cleaning the school. He lived a frugal life, spend his time teaching karate and painting (what he truly loved). He invested a little every month for his entire life. In the end he left about 340,000,000 Naira to his children.
I didn't get anything from him either.
However, again he showed me what it was to be truly wealthy. He made far less than my father but enjoyed his life just as much or more. Plus he left something as a legacy.
This is really unbelievable.
Now I know why you are bent on teaching us how to live comfortable with the little we have. A frugal life should really has to be a part of our lives.
Kudos to you for finding your way and teaching others to do you. 🙏💪
Thanks.....
I'm still working on it. I still really want to reply to jmis101 as her last response that my goal was simply impossible left me a little hurt. I'm certainly not upset with her but at me for explaining my point so poorly. When I get back from my little trip with my son I absolutely have to clear things up.
Love reading your posts and Love hearing your replies.
Keep up the good work
We could do the mathematics in another form, while I will try to show you the reality of things here compared to the explanations we are misunderstanding.
Discord can be of help too.
I truly understand how been frugal can save us alot of finania burden.
I still have the plans for the water humidify, getting solar power supply other things you have said in your post.
You should know that your quest us not in vain and even if the mathematics in the post do not add up, I understand the quest and truly appreciate you.
Thank you so much for keeping me engaged
When I get home my next post will be three meals I actually prepare using bulk staples in Canada. It will be simple but I should keep the cost to bare minimum :)
Also I'll be going through the stuff I have accumulated for my homestead. I'm looking forward to showing off my solar cooker (cook chicken using only sunlight). Solar battery bank and solar lights. Tiny fridge freezer (which can be powered by sunlight). Plus more things I think are fun.
I'm just glad you are around to help me out. Appreciate all your doing so far :)
and sneaking a picture from my property in Rosswood
and one from the drive to my property (about 10min drive away)
Being financially successful isn't easy by any means. One has to sacrifice a lot along the way. I try to be as strategic as possible so that I don't end up trading one important thing for another equally important thing.