INTRODUCTION: A lot of people are where they are todaybecause of ignorance. Ignorance is darkness. If you don’t know where you aregoing to you will not even know when you get there. Have you ever foundyourself in this situation? You are going somewhere you have actually arrivedat the place, but because you don’t know that’s where you are going to,you ask question, ‘please am going to this place...’ and they say, ‘oh this isthe place...’ and you just suddenly realize that, even though you are where youare supposed to be, you are still asking questions because you are ignorant ofwhere you are. Am sharing with you today on the pathwayto wealth because many people want to be wealthy, they work and workand work and still find out that they don’t enter into the place of wealth,why? Because they don’t know the pathway that leads to wealth. In order for youto be wealthy and financially free, you have to discover the pathway that leadsto wealth, and when you discover that pathway, you have to make up your mind towalk that pathway. Listen, the kind of car you drive and how fast you go isirrelevant if you are on the wrong pathway. Even if you go at 260 km/h, it’suseless because at the end of the journey, you will realize that you haveembarked on a useless journey. There are a lot of people spending alltheir life climbing the cooperate ladder only to get to the top and discoverthe ladder is leaning on the wrong wall. Listen to me, there’s a pathway thatleads to wealth, until you discover that pathway, you can never arrive at awealthy place. Until you discover that pathway, financial freedom will neverbecome your portion. But in order for you to discover that pathway, you need tohave some vital information available with you and that’s what this gatheringis all about. The pathway that leads to wealth Facts you need to know 1. There is a pathway that leads to wealth 2. There is a place of wealth. There is a place of financial freedomthat leads to it. However, thepathway that leads to wealth can only be accessed by you understanding thefollowing facts: there are 3 steps or principle or bus stop on the pathway towealth. Whether you see them as steps or principles or bus stops, they must bein place in order for you to arrive at the place of wealth Developing investment mentality: investmentmentality is a mindset that is concerned about the multiplication of all thatyou have. It’s a mindset that is concerned about the acquisition of assets andnot liabilities. It’s a mindset that is concerned about you bringing your lifeto a level where your money works for you and you don’t spend all your lifeworking for money. Financial intelligence : This is the 1 st step on the pathway to wealth. There are a lot of people who don’t have any iota of financial intelligence at all. When you see what they do with money, it immediately reveals to you that financial intelligence is lacking. Financial intelligence is not taught in schools. There are PHD holders that are financially daft. There are master degree holders that are not masters over their finances. There are bankers who don’t have any money at all. There are people working in financial institutions without any form of financial intelligence because they are completely ignorance of financial matters. Listen, financial intelligence is very vital, and schools don’t teach it. In order for you to be financially free, you need to embrace what I call redefined education, by capacity building and personal development. You need to take your destiny into your hands and create a vision for yourself of how you will develop your capacity, and go into personal capacity building and go in to personal development. This kind of education is not taught in the four walls of an institution. As a matter of fact, if you want to be rich don’t go to school. School prepare people for poverty and not prosperity. When you go to school, 99% of people that come out of school, come out looking for a job, because that’s what schools are meant for. It’s meant to create job seekers not job creators. Isn’t it amazingthat a man will go to school, spend years in school studying accounting, and hecannot account for his finances. A man will go to school studying businessadministration, come out and will not be able to manage a book shop. Isn’t it amazingthat a man will go to school studying economics and he is a waster when itcomes to his own personal finance, why? Because no matter the course you study,when financial intelligence is not in place, the course you study doesn’tprepare you on how to make, manage and multiply money. So financial intelligence is youunderstanding money, it’s you understanding the language of money. It’s youunderstanding how money comes; it’s you knowing how to make money, knowing howto manage money, knowing how to multiply money, it’s you understandingbudgeting, understanding inflation, understanding cash flow, understandingcompound interest, understanding what an asset really is understanding what aliability is, that is financial intelligence. Understanding investment and it’sterminologies. Understanding everything that has to do with money. Because if you don’t have financial intelligence, you cannot go far. There area lot of people with all kinds of degree and yet they are in a great degree ofdept and poverty regardless of all their degrees, because of their degree ofignorance in the world of finances. When you go to school, you will completefive years on campus and come out with a degree without being taught one singlecourse on how to manage your own money. A lot of people go to school, readaccounting, business admin, economics and yet they don’t know anything. Anaccountant will come and tell you that an asset is anything you acquire withmoney when liability can also be acquired with money, because that is what theyare taught. Invite an accountant to come and take an inventory of your life,and everything in your life would be called an asset. Your dead rug, your deadT.V, your dead fan, he will tell you they are assets. He will tell you, youbought them this amount and by depreciation it’s now this amount. Things thatcannot even be sold, things that even if you give them out to some people theywill throw them away, because that’s their belief and what they are taught. Whereas, in theschool of financial intelligence, whatever you buy with money and does notappreciate in value and bring money into your pocket is a liability and not an asset.Where did education come from? Have you ever sat down and ask yourself wheredid this education come from? God’s education is revelation, when man was created;God comes down in the cool of the day to teach man what he needs to knowbecause revelation is God’s education. But education as we know it today takesit’s bearing from Egypt. Egypt was the 1st civilization and that’swhere all education came from. Education was established in Egypt as Egypt’sown way of teaching people and the god’s of Egypt but today, everybody wants togo to school and learn. Am a student myself, I have gone to school, to learnand I will still continue to learn. But, if you truly want to be rich, formaleducation as we know it today cannot help you to become rich. If you like spendten years in school, by the time you come out, you are still coming out tobecome an applicant. Do you notice that you spend six, seven years inarchitecture, you come out to become an applicant. You spend seven, nine yearsto become a medical doctor, after becoming a medical doctor, you are still anapplicant you are still going to be working for somebody. All the courses you studyin school, you still come to subject yourself to somebody else and becollecting salary. So that tells you that the entire school system is nothingbut a colonial poverty structure to keep you bound. In order for you to be trulywealthy, you must redefined education, and begin to attend seminars, workshopsetc. This kind of education is not taught in the four walls of an institution,it’s taught by you reading messages like this one you are reading now. By theend of this message, it’ll benefit you than one year of our formal education.There are books tapes, materials, seminars that will give you great informationto help you to transform your life financially. Our forefatherswere entrepreneurs; our forefathers did not go to schools. Have you ever askedyourself how our forefathers survived? They were hunters, farmers, palm wine tappers;our great grand mothers were food sellers, cloth sellers, hairdressers. Allthat they did was for them. They were all entrepreneurs because that is the waythe creator created every one of us. But guess what? When the colonial masterscame, they stole our birthright and gave us a morsel of bread. They came andtook the entrepreneurial spirit away from our great grand fathers and mothersreplaced it with salary jobs and that was how destinies were perverted. Theycame to your grand fathers and said, ‘’--- instead of you to go to the bush tohunt every day, it’s too risky, don’t go to hunting, come and work for us, and be my driver, you drive my car, at theend of the month I pay you money. You will be sure that money is coming at theend of the month, all you need to do is to drive’’. Because of the covetous andlazy nature of man, your great grand fathers bought the bait, decided to go tothe colonial masters house to become drivers, cooks, at the end of the month,they collect salaries. The colonialmasters begin to make the black believe they were lesser than the whites. ‘’ifyou work for me, I will take you to my country to learn my language”. What’s sospecial about their language? “...you come to my country so that you can becomelike me’’, so they make all our great grandparents to look inferior and beforeyou know it, up till tomorrow a lot of people think that black is synonymous tolack. People in the third nation look down on themselves with low esteem,thinking that the white man is better than them. Let me tell you something, Godcreated every one equal, a black man is not better than a white man and viceversa, we are all equal, in capacity, in value and in creation. It is yourpersonal development that determines what you become in your life. So theybegan to transfer our parents, ‘’ oh instead of you cooking food without being sure someonewill buy, come to our kitchen and become a cook at the end of the month we giveyou money,’’ before you know it, all our great grandparents abandoned theirbusinesses and started taking salary jobs. Before you know it, the colonialmasters started telling them, ‘’come to my country’’. They enjoyed themselves,the bait was perfect. Many of them were taken to the western world. Manystudied abroad, the colonial masters paid their school fees. Many learnt thelanguage of the white man. There’s nothing wrong in all that, but what it tookaway was greater than what it gave. It took away the entrepreneurial spirit,which today it’s becoming more difficult to bring back to Africa. Untiltomorrow, people are finding it difficult to be able to step out on their own. Everybodyis becoming a slave in the rat race of salary, a slave in the bondage of civilservice because of what has been entrenched into the system. And generationalignorance gave way to generational poverty. When the young ones were growingup, the parents who were already slaves in the hand of the colonial mastersstarted telling their children, “all i owe you is education, I give you a goodeducation, with good education you can never go wrong’’ but today we have seenthat to be a lie. There are many educated poor people and illiterate. Peoplewith all kind of degree, but today they don’t have anything to offer, becausetheir parent gave them education but did not get financial intelligence. Youneed financial intelligence for you to become wealthy and schools don’t teachit. ‘’... all I give you is education’’ now the education are there, thecertificates are there, people spending eight years looking for a job. Whyspend years looking for a job when you can start one. But how can you start onewhen financial intelligence is nowhere to be found. That means you have gone toschool to spend 7 years but you are still an illiterate when it comes tofinancial intelligence. You need financial intelligence. Many of these people,to show you that the colonial masters have done nothing but to enslave them,they went to the land of the colonial masters, a lot of them lived in London inthe 50s, 60s, 70s. They worked and worked and worked, common sense did not tellthem to buy a house; common sense did not tell them to start any company, why?Financial intelligence is lacking. So many of them, the only house they builtis in the village. After spending all their lives abroad, now they have retiredto the village when those in the village are coming to the city. Listen to me, youneed financial intelligence. Many are working in the banks, earning a lot ofmoney today, but what are they doing with the money? Wasting it. How do you getfinancial intelligence? You get it by making up your mind that you don’t wantto be poor and making up your mind that you are going to do everything possibleto get information, you begin to buy books, tapes, buy CD’s, attend seminars,develop yourself and act on it. And before you know it, it will do more for youthan what six years of school will do for you. To balance it up,am not against education, am not against going to school, am not against yougetting a degree, get education but I want you to know that in the world offinances, it is not enough, add redefinition to it. Put this new education toit so that when you put everything together, it becomes a balance. So go toschool if you want to be rich, but add redefinition to it so that you can bebalanced and as you do that it will be helpful. So the first stepon the pathway to wealth is financialintelligence. The second step on the pathway to wealth is financial planning. If you fail to plan, you have already planned to fail. Proper planning prevents poor performance. You must have a financial plan in place to get to the place of wealth. There are 3 stagesin the life of every man and if you plan well you will be able to ensure thatevery stage of your life is well taken care of. The first stage is the LEARNING STAGE which is between theages of 1-25years. At this stage, you are supposed to be learning. That is thetime you are suppose to go to school, learn and get all the information youneed to get that will prepare you for the second stage of life. The Second stageof life is from the ages of 25-50years. This is called the EARNING STAGE of life. That is the stage you are supposed to beearning an income. From the ages of 26-50years, you are not supposed to stillbe in school trying to pass Jamb, trying to write WAEC or get a degree in onecourse, no you are supposed to have settled that. By this point in time 26-50you are supposed to be working. The third stage oflife is the TURNING STAGE of Life,form 51-75years. At this point you are not supposed to still be working formoney. By the time you are 50, you are not suppose to be a tenant. By the timeyou are 50, you are not supposed to still be relying on salary before you caneat. By age 50, even, if you don’t work again you should have enough investedto take care of you in the next 50 years of your Life. The question nowis, where do you stand in this stage of life? Are you already 25 and you are stilltrying to write Jamb? Are you 30 and you are still on campus pursing girls andliving immorally when you are suppose to have gotten a degree knowing that timeis not on your side? Are you 45 and youare still trying to get a Job? You are still thinking of what kind of job youwill settle down for? Time is no more on your side. Have a plan for your lifeand stick to your plan because life is all about planning. There are 3stepsin financial planning: i. You must ascertain yourlocation. ii. You must determine yourdestination. iii. You must choose your vehicle. What do I mean bythese? i. Ascertain your location: Where are you now?how poor are you, how rich are you, how many sources of income do you have, doyou have any source of income, and are you in debt? What is your plan, what areyou doing now, what is your qualification, what can you do? That is the firstthing, you need to get a book now, sitdown and begin to write, begin to ask yourself, ‘What can I have and offer?What can I do, what other sources of income are around me that I can takeadvantage of? When you ascertain your location, it helps you because you needto know where you are coming from before you can get to where you are going to.If you are going anywhere in life, the first thing is, you must know where youare so that you can be able to navigate your way from where you are to whereyou need to be. ii. Determine your destination: If you don’tknow where you are going to, how will you know when you get there, so you needto determine your destination. How rich do you want to be, when do you want toretire, how much do you want to have at retirement? If for instance you are 20now and you want to retire at 40, that is 20years. How rich do you want to bethen, what will be your expenses at that age? What kind of life do you want tolive at your retirement, what kind of life do you want to live, where do youwant to live, what kind of investment do you want to have in place? When youdetermine your destination then you now go to the third step. iii. Choose your vehicle: You need to choosethe kind of vehicle to take you from point A – point B. As it is in the naturalso it is in the world of investment. For you to move from point A – point B Inthe natural, you need a means of transportation to serve as your vehicle. Thereare plenty vehicle in the natural, you can trek, walk, take a cab, take a bike,you can take a ship, you can take a train, you can ride on bus, and you cantake a plane. So there are different kinds of vehicle that can take you fromwhere you are to where you need to be. You need to get a book written by OlumideEmmanuel titled ‘How to be a millionaire, ’ it deals extensively on this issue. Choosing a vehicle requires,for instance now you are 20 and you want to retire at 40, so you add 20 years.The question now is, at 20 you have X amount and 40 you need X amount raise topower 20,000, you need to ask yourself, what vehicle can I take from now thatwill take me to my destination in 20 years or in 5 years or 10years dependingon your age and your plan. There aredifferent kinds of vehicles and I want to major on 3 vehicles, that I considerthe ‘Trinity of wealth creation’. Paid employment is a vehicle but if you relyon paid employment and salary to arrive at the wealthy place, you are like aman trekking to wealth because salaries will be difficult to bring you towealth except you apply investment mentality and you do the right thing withyour salary because you see, it’s not really how much you make that matters,it’s what you do with what you make. Like I always say, no one will plan yourfuture for you if you don’t plan it for yourself; it’s your responsibility toplan your life for yourself. VEHICLE 1. Paid employment: It’s a vehicle. As a matter of fact, thereare many people who are actually earning well, working in places where they areactually earning fat salaries. No matter how much you earn if you do what amgoing to tell you to do today with what you earn, you will find yourself in awealthy place in a matter of time. 2. Shares : stocks and money marketgenerally. Buying shares is a vehicle. 3. Real Estate: buying lands, houses,properties e.t.c 4. Businesses: you can start businesses ofyour own that will bring money in to your hand. 5. Intellectual property : production ofintellectual properties based on your gift or talent There are plenty vehicles but i want us to concentrate onthese three that i call the trinity of wealth creation 1. Stock and shares 2. Real estates 3. Businesses Any rich andextensively wealthy man you know on earth today, you will find out that theirwealth is within these 3 circles. If you want to be really wealthy or get tothe wealthy place you need to employ the principle called the 70 -30 principle.That is the reason, the rich get richer and the poor get poorer, because the richare always investing and the poor is always wasting money. When wediscussed investment mentality, we told us there are 3 things you can do withmoney: You can waste money, spend moneyor invest money. Foolish peoplewaste money, average people spend money and wise people invest money. Now listen, forevery money that comes into your hand, in order for you to become trulywealthy, then you must do the right thing with that money, because it’s not howmuch you make that matters, it’s what you do with what you make. So when moneycomes into your hand, you need to adapt the 30-70 principle. Make sure that youlive within the 70% of your income depending on your income bracket. There’s alevel you get to in life where you have to live on 30% of your income becauseyou are extremely wealthy and 30% of your income alone is already luxury.There’s a realm you even get to when 1% of your income is even luxury but, forthe average man, you start with the 70-30. When money comes into your life, ifyou are a salary earner, every month, once you collect your money, or whateverbusiness you do, when ever money comes into your hand, whether monthly orweekly, if you start applying this principle, you are on your way to wealth.It’s the pathway, 70-30. Immediately the money comes, you separate it into 70and 30%. 70% of that money is what you live on, so you go into budgetingeverything you need to pay for, all the bills, everything must fall within the70%. Whatever 70% of your income cannot handle is not yours yet and you are notqualified for it yet. So you live within the 70% and you continue to grow asyour income grows. The 30% is now what you use for your future which can now beseparated into 10-20 or 10-10-10. what do I mean by that? 10-20 means, the 1st10% of every income that comes into your life must be given to God as tithe; ifyou don’t believe in tithe, let’s call it charity. Just make sure that 10% ofevery income that comes into your life exits your life, because you must giveback something to the world. Because God is the owner of the universe, considerthat 10% to be your rental payment, so you will be able to see the blessing ofGod on the remaining 90%. After giving 10% to God, theremaining 20%, you should invest it, into one of the vehicles above. When youdo this every month, you will be amazed. Stop wasting money and reduce yourspending and increase your investing power. So in order foryou to be wealthy, you need a change; you need to put this principle intopractice. If you think itis difficult, then forget the possibility of becoming rich and financiallyfree. Savings andinvestment culture is alien to a lot of people, but you need to make sure youdevelop a saving and investment culture or else, the possibility of becomingwealthy would just be a mirage. You need to begin to save; you need to beginto invest, because if you don’t save, you are not safe. Do you have abank account? Well if you don’t have a bank account then the possibility of youbecoming rich is absolutely slim 3. FINANCIAL DISCIPLINE: Financialdiscipline is what separates the men from the boys. It’s ok to have financialintelligence, it’s ok to have a financial plan, but the plan will only remain aplan until it is acted upon. 1000 good intentions is not as powerful as oneaction. So you may know all the investment principle in this world, and youplan that, ‘oh am going to do this, am going to do that’, but until you do it,it has not become a reality. The power of investment and planning only shows upwhen it is actually done, not when it is intended or planned but when it isactually executed. So youneed to give attention to your intentions, or else you’ll remain in theworld of intentions. Give attention to your intention so that the world wouldgive you attention and stand at attention or else if you don’t give attentionto your intentions, your world will stand at attention and there’ll be noprogress in your life. Discipline isvery vital, why? Because, when you make up your mind to be an investor,there’ll be distractions, there’ll be temptations. People would say all kind ofthings about you, but listen, at the end of the day, when you finally becomerich, you’ll be glad that you didn’t listen to people. What will peoplesay? What will people think? How will people feel? Are things you should neverentertain in your life when you want to become wealthy. You know why? In orderto become wealthy, you must disobey people, disobey yourself in the areas ofunnecessary and wasteful spending and only obey the laws that you need to obeybecause your flesh will be against investment, your desire will be against itand people will be against investment. Sometimes you feel like spoilingyourself a little. Why spoil yourself and spoil your future? Make sure that you invest. Don’t allow anything or anyone to jeopardizeyour plans. Whenever it is jeopardized for any reason, you double it the nextmonth. You make sure you stick to it. Don’t forget,people have their mouth and we live in a democratic world where people areentitled to their own opinion, and they can say whatever they want to say. Butlike a wise man once said, when he was asked, what the secret of success is, hesaid, “i don’t know the secret of success, but i know the secret of failure, ifyou want to be a failure, please everybody”. Trying to please everybody is akey to failure. So don’t try to please everybody, just please yourself andplease your future so that you’ll be able to have something to show for it. One thing youneed to know also when it comes to financial discipline is, as your financesand your income increases, don’t increase your expenditure along with it.Increase your investment instead of increasing your expenditure. In order for youto become wealthy, there is a pathway and on this pathway, you need to haveFINANCIAL INTELLIGENCE, FINNANCIAL PLANNING AND FINANCIAL DISCIPLINE. A lot of peoplethink the only way to become rich and wealthy is to make more money, no, youmay not need to make more money. Reducing your expenditure can make more moneyavailable to you. All you need to do is look into your life, what are the areasof expenditure that you can reduce and as you reduce your expenditure, moremoney is made available to you and you are able to invest and change your life. I believe you’vebeen able to see clearly the pathway that leads to wealth. All you need to dois to make up your mind now and begin to walk the pathway. Financialintelligence is a continuous thing, you can never graduate, you have tocontinue to learn, have a plan, stick to your plan, adjust it as your lifemoves on and stick to it with discipline and you’ll be amazed that sooner verysoon, you’ll be smiling because your story has changed.
Posted on: Mon, 26 Jan 2015 02:53:02 +0000
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