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How To Save More Than You Spend And Double The Speed Of Financial Freedom

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How To End Up In A Better Place Than Your Parents At the end of Your Career (2)

By

Grace Agada

In a world where the majority choose instant gratification over delayed gratification, it is rare to see working professionals that can live off their savings without financial stress. What is common to see are working professionals that are rich because of their regular salaries and become poor the moment this salary disappears. Yet the most effective way to gain financial freedom and break away from middle-class poverty – a condition where the same person is rich during their active career years and poor in retirement, is to save more than you spend.

Today your life is stable and comfortable not because of your savings or investments but because of your regular paycheck. All paycheck-based success will disappear at retirement and when it does the only way to maintain the same quality of life is to have saved more than you spent. Thus, the level of comfort and stability that you will experience in retirement will be based on the size and integrity of your savings and how much stable passive income it has produced before retirement. Savings is thus the foundation for retirement success and without the ability to save more than you spend you cannot achieve financial freedom.

Yet research shows that 80% of working professionals suffer a deplorable lifestyle in retirement due to poor savings and overreliance on a paycheck-based success. Many do not save. Those who save only save leftovers of their income. And even others end up eating their savings reserves and undoing their success. Thus, in retirement it is common to see many people whose savings cannot save them and investors whose investments produce more anxiety than income. To have a restful retirement life you must save more than you spend and invest in ways that give you financial freedom before retirement. The question is why do many people struggle to save this way?

The answer is simple, but it has little to do with the economy, your employer, or the government and more to do with the financial decisions you are making every day. Let’s see some of the reasons why you spend more than you save.

READ ALSO: How To Give Cheerfully And Still Achieve Financial Freedom

Why you Spend More Than Save

There are only two reasons why you spend more than you save. The first is that you value today’s comfort over tomorrow’s security. And when the emphasis is on looking good today spending will always stay ahead of savings. The second is that you are working harder on growing a consumptive lifestyle than you are on maximizing a productive lifestyle.

Everyone has two kinds of lifestyle to maintain – a consumptive lifestyle and a productive lifestyle. Your consumptive lifestyle comprises your expenses and everything that drains income away from you. And your productive lifestyle comprises your skills, relationships, sources of income and everything that produces more income for you. The challenge is that most people can sit in their living room and increase their consumptive budget by 50% or 100% in a year simply by buying the latest car, iPhone or adding a new member to their family. But only a few people can increase their productive lifestyle (Income) by the same amount in the same year.

Research shows that most people would still be earning their first salary but for the regular salary increases and promotions that have increased their income over time. This means that if left alone only a few people can significantly increase their income outside their salary. Thus, at the end of a typical calendar year it is common to see people who have created more financial load than their income can handle.

Many years of financial load surpassing income and savings are  completely eroded. Thus, at the end of most people’s career life they have succeeded in making other people richer through their spending than making themselves richer through their savings. Saving more than you spend is the only way to escape this rabbit hole.
But why should you save more than you spend and is this truly necessary? Let’s take a look.

Why Save more than You Spend

As a working professional the odds are stacked up against you. You earn a limited amount of income and have limited resources. Your regular income earning period is fixed to 30 years. Your time is consumed by one source of income limiting your extra income opportunities. Your relationships are more wealth- draining than wealth-creating. Your future goals are bigger and more expensive than your living standard goals. And your body will be requiring more maintenance after 30 years of a stressful work life. All this means that you will require more funds in the future than you do today. And you will require these  funds  in the absence of salary. Thus, the only way to survive in the absence of salary is to save a bigger portion of your income today, get rich slowly, and build solid passive income that can make you richer in the later part of your life than the former. This means that you must get to the point where your savings become your solid base and where your livelihood is funded from stable passive income than active income.

But how do you achieve this goal? Let’s take a look.

READ ALSO: How To Know You Will Achieve Financial Freedom

How to Save More Than You Spend

There are only two ways to save more than you spend. The first way is to earn income that is double or triple your current expenses. And the second way is to reduce your current expenses to half of your income and live a simpler and less consumptive lifestyle. Both options require growth, discipline, and delayed gratification and is easier said than done. Yet doing hard and difficult things like this that many people would not do is the only way to achieve your desired success.

To double or triple your income, the fastest way is to add a second source of income that can give you half, the same or more income than your current expenses. To do this you need to develop high income skills and look outside your salary income. Your salary can only crawl to success and your job-based skills and certification can at best give you another sluggish job-based income. To earn income quickly you must earn like a business owner.

You must find a source of income that can help you earn business-based income without the stress of owning a business. This income must require little of your time and must produce income that is bigger than the workload. To earn this kind of income you need to develop three skills.

The first is problem solving and creativity skills – the ability to identify high income problems and completely solve them using your own resources and creativity. The second is rich relationship building skills – the ability to identify, form and nurture wealth-creating relationships that can expand your opportunities, possibilities, and options. And the third is sales and marketing skills –  the ability to find a customer, convince them to purchase a viable product and make the sale with little or no external help. Without these three skills, all you will have are multiple painstaking extra income options that require hard work and long hours like your current job, but are yet too weak to give you the financial freedom that you desire.

The second thing you must do is to live a simpler and less consumptive life. Living a simpler life means anchoring your expenses at a point that is the same or lesser than your savings. The first step to achieving this is to see your bonuses, allowances, and annual salary increases as investing income and not spending income. If you cannot live within your 12months salary budget, you have a high maintenance lifestyle. The second step is to make your savings fail proof. One of the biggest time-wasting activities is to save and end up eating your savings. Savings  are for investing and not for spending and the only way to protect your savings from yourself is to make them fail-proof.

READ ALSO: How To Be An Asset And Not A Liability In Retirement

The third step is to invest without losing money. Losing money through investing is another big-time waster. Thus, to invest without losing money you must focus your investing on generating stable passive income and not risky, unreliable, and volatile returns.

It is better to be richer in the second half of your life when you can pursue your own goals, achieve self-actualization and build a lasting legacy than to spend your whole life working for food and survival.

If you need help saving more than you spend, making your savings fail- proof, developing high income skills and earning income that can double your savings and cash reserves we can help you. Send an email to info@createsolidwealth.com

About Agada

Grace O. Agada is the most sought-after financial freedom expert in Nigeria. She is a renowned author, financial advisor and keynote speaker. And she is popularly known as the financial freedom advisor for working class seeking to join the upper class. Her goal is to help working professionals and CEOs fund their lives from passive income, escape middle-class poverty and Join the upper class. Agada is the author of three books and possibly the most widely read financial articles. Her articles are spread across seven national newspapers and four of the most popular Nigerian blogs. Agada  is also the Founder of the University of Wealth, the Rich Retirement Life Quarterly Publication, the Wealth Creating Employee Quarterly Report, and the Wealthy Business Blueprint Programme. Agada  has been featured on BBC Africa,  Business Day TV. Inspiration FM. and inside Naijatv. And she consults for numerous top organizations, company directors, CEOs, C-Suite executives, and high-income professionals. To connect with Agada , send an email to info@createsolidwealth.com

 

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How To End Up In A Better Place Than Your Parents At the end of Your Career (2)

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How To End Up In A Better Place Than Your Parents At the end of Your Career (2)

By

Grace Agada

 The dream of every working professional is to end up in a better place than their parents. This better place for most people is the place of independence, self-sufficiency, and fulfillment. But while this may be the dream of many people, converting this dream into reality is a challenge for the majority. Research shows that 8 out of 10 people will not actualize this dream and a handful of them will end up in a worse place than their parents. Why do many people have financial freedom dreams but cannot achieve them? I explained the reason in part 1 of this article- “How to Know You Wouldn’t End Up Dependent like Your Parents”. In this article I will be showing you how to achieve your financial freedom goal and what you must do to end up in a better place than your parents. I will also be showing how to change direction if you are already on the wrong path.

So, what must you do to end up in a better place than your parents?

The answer is simple.

To end up in a better place than your parents you must do two things. First, you must find the example of a person that ended up in a better place than your parents. Someone you want to pattern your life after. Second, you must identify the actions that this person took that made them achieve their financial freedom goals. And then you must compare these actions with the actions that you are currently taking. To accomplish these two goals, you need to do what I call the Perfect Good Example Assessment and the Action Resemblance Assessment. Let’s do these assessments together.

READ ALSO: How To Know You Wouldn’t End Up Dependent Like Your Parents (1)

The Perfect Good Example Assessment

There are two kinds of examples you must see and learn from to achieve financial freedom. The first is the perfect bad example – that is the example of how Not to achieve financial freedom. And the second is the perfect good example – that is the example of how to achieve financial freedom without fail. The only way to see these examples is to find someone close to you that failed to achieve financial freedom after a prosperous career. And another person who achieved financial freedom before retirement. Seeing these two examples gives you a clear picture of what to do and what not to do to achieve financial freedom. The challenge is while we have countless perfect bad examples, it is hard to find a perfect good example. 80% of people have never seen one and the majority are living their lives based on lessons learned from their perfect bad example – The closest of which is their parents. Most people have watched their parents descend from a one-time successful career into a deplorable retirement life. A condition known as “The Rich Dad, Poor Dad, The Same Dad Syndrome” – The same dad becoming rich and then becoming poor in one lifetime. This means that chances are high that most of the investment decisions you have taken up until now have been driven by your perfect bad example, or by people who are trying to figure it out just like you.  Only 20% of people have seen a person close to them that has successfully transitioned from a great career to an even greater retirement life. But until you find a perfect good example and model them you will not achieve financial freedom.

So how do you know a good example that is perfect for you?

A perfect good example for you is someone that has these three attributes.

First, they must have walked the same or a similar path as you – this means that they must once be an employee. They must also have faced similar challenges and have made similar mistakes. And yet was able to achieve financial freedom.

Second, this person must no longer be in the career world. One of the early signs of those that achieve financial freedom is that they exit the career world into the business world. People that achieve financial freedom do not remain employees. They enter the business world to create more wealth there.

Third, this person must be a current success and not some good old day success story. This person must have a present life that is bigger and better than their active career life. And they must also have a bright and promising future ahead of them.

READ ALSO: The Big Financial Education That Will Speed Up Your Financial Freedom

So, what do you do when you find your Perfect Good Example?

There are two things you must do. The first is to identify the things they did that made them achieve financial freedom. And the second is to model those things.

There are four things that every Perfect Good Example did that helped them achieve financial freedom. The first is that they moved from a mindset that is focused on building a temporary rich lifestyle to a mindset that is focused on living off their own passive income. They moved from high maintenance to low maintenance lifestyle, made better financial decisions and modeled other Perfect Good Examples. The second thing they did is, they started taking financial freedom actions and reducing financial bondage actions. They spent their time, money, and energy in the right places, focused on the right things and were accountable to other Perfect Good Examples. The third thing they did is they moved from having more wealth draining relationships to having more wealth creating relationships. They surrounded themselves with other self-sufficient people. And the fourth thing they did is develop high income skills. This enabled them to multiply their income, save bigger portions, and achieve their goals with speed. These four things combined are the main factors that made Perfect Good Examples achieve financial freedom despite the odds. And the four things that you also must do. Once you have identified these four things 30% of the work is already done. The remaining 70% and where the bulk of the work is, is to develop the discipline and capacity to model what you have identified. This brings us to the second assessment that you must do.

The Action Resemblance Assessment

While almost anyone can identify what the wealthy did that made them successful, only a few people have the discipline to do what they did. And without the discipline to do what the people with the results that you seek did you will not achieve financial freedom. Success is 30% knowing what to do and 70% discipline to do what you know. It is more about doing the few hard and necessary things than doing the trivial fun, easy and comfortable things.  This means that the only way to achieve financial freedom is to be willing to do what needs to be done, when it must be done whether you feel like it or not. This is the only way not to become an impediment in your own success.

Once you have made up your mind to pay the price the next thing you must do is compare actions. Put the actions you have identified in your perfect Good Example Assessment on your right-hand side. Put the actions you identified in your perfect bad example on your left-hand side. And then put your own current actions in the middle. Who do you resemble in actions? If you haven’t been mentored, coached, or helped by a perfect good example chances are that you will look more like your perfect bad example because you can only model what you see, feel, and understand.

READ ALSO: How To Stop Hustling And Start Positioning For Wealth

To achieve financial freedom, you must model your perfect good example and dump the lessons learned from your perfect bad example. Success and failure do not mix, while success involves taking high standard actions failure involves taking low standard actions. Thus, it is either you are moving towards financial freedom, or you are heading towards financial bondage. Until you do what your perfect good example did to achieve financial freedom, you will not achieve it. The person you resemble is who you become at the end of your career.

Perhaps you need help achieving financial freedom or connecting with a Perfect Good Example, we can help you. Send an email to info@createsolidwealth.com.

About The Author

Grace Agada is the most sought-after financial freedom expert in Nigeria. She is a renowned author, financial freedom advisor and keynote speaker. Agada  is popularly known as the Queen of Financial Freedom, the Breadwinner’s Advocate and the Middle-Class to Upper-Class Mentor. Her goal is to help working professionals and breadwinners move their success and livelihood from a paycheck to their own solid passive income. Agada is the author of three books and possibly the most widely read financial articles. Her articles are spread across seven national newspapers and four of the most popular Nigerian blogs. Agada is also the Founder of the University of Wealth, the Rich Retirement Life Quarterly Publication, the Wealth Creator Quarterly Report, and the Wealthy Business Blueprint Program. Agada  has been featured on BBC Africa, Business Day TV, Inspiration FM and inside Naijatv. And she consults for numerous top organizations, company directors, CEOs, C-Suite executives, and high-income professionals. To connect with Agada, send an email to info@createsolidwealth.com

 

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How To Know You Wouldn’t End Up Dependent Like Your Parents (1)

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How To End Up In A Better Place Than Your Parents At the end of Your Career (2)

 By 

Grace Agada

A few decades ago, your parents were exactly where you are today. They had jobs, regular income, a good life and were filled with hopes and dreams. Financial freedom and helping other people were also part of their dreams and they made certain investment efforts hoping to achieve it. But like many other things, their life did not go as planned. Today they have a life that is worse in retirement than their active career life. The big question is would your life go as planned? How many people do you know today whose life has gone exactly as they planned it? What gives you the confidence that your life will go as planned? And is there a way to know upfront where you would end up at the end of your career?

A few years from now your career will end and your life will end up in a certain place. The big question is where would it be? Will your life end up in financial freedom or financial bondage? Depending on what you do today your life will end up in either of these three places. The first is the same place as your parents-This is where you are dependent on your loved ones but have independent children that can cater for you. The second is a worse place than your parents. This is where you are dependent on other people, but also have children that are dependent on you. And the third is a better place than your parents-this is where you are independent and self-sufficient in retirement and your children are also independent too. Out of these three-end destinations, you would end up in a certain place. But how do you know where you would end up? And what can you do to end up in a better place than your parents? I will answer both questions in parts 1 and 2 of this article.

READ ALSO: The Big Financial Education That Will Speed Up Your Financial Freedom

One of the big misconceptions that make people fail in life is to think that time will change their financial situation. Time never determines your financial success. If it does, more people will be richer in retirement than during their active career life. But research shows that 8 out of 10 people are 80% poorer in retirement than during their active career life. This means that an increase in time does not necessarily mean an increase in financial freedom. What determines your financial freedom is your actions and the quality of the decisions that you make. Your actions more than your desire, good intentions, wishes, hope, or dreams is the biggest determinant of how your life turns out in retirement. Thus, it is possible to predict with accuracy where you would end up in retirement just by looking at what you do today. And it is also possible to change your retirement destination if you do not like what you see today.

Yet rather than take charge of retirement and create a better future most people are held back by fear. The most common of which is the fear of the unknown, a fear that simply exists because people refuse to confront the unknown before retirement. This fear, coupled with the fact that most people only saw the perfect bad example of how not to achieve financial freedom through their parents, make poverty action the default action for most people during their active career life. Only 10% of people have seen a perfect good example of how to achieve financial freedom and the best way to transition from a successful career to an even more successful retirement life.

The challenge with this is that you act according to what you see and know and will only replicate the familiar despite your good intentions. You are also not likely to model or replicate what you do not know or see. Thus, chances are high that you are already replicating some of the poverty actions you saw your parents took while growing up without even realizing it. Yet if you do not unlearn what you saw, observed, and adopted from your parents, your brain will automatically replicate the same actions when real life situations hit. And in due course you will reproduce the same results guaranteed.

READ ALSO: How To Stop Hustling And Start Positioning For Wealth

The only way to prevent this from happening is to do the three important assessments that I call the “End-destination Financial Freedom Assessment”.

The first assessment is the “Odds of Success” assessment. This is where you compare the advantages and disadvantages you have compared to that of your parents. The only way to have a better retirement future or end up in a better place than your parents is to have more advantages and less disadvantages than they did.

The second assessment is the “Perfect Good Example Assessment”. Right now, you have only been exposed to a perfect bad example of how not to achieve financial freedom. Until you also learn from a perfect good example, how to achieve financial freedom, you will not achieve it.

The third assessment is the “Action Resemblance assessment.” When you look at the actions, mindsets, and behavior of your perfect bad example and that of your perfect good example and compare them to your own current actions. Who do you resemble the most? Who you resemble is who you become?

These three assessments combined are what you need to determine your odds of success and whether you would end up in the same place as your parents. In Part 1 of this article, I will cover the first assessment and then I will cover the remaining two assessments in Part 2 of this article.

So, let’s see your odds compared to that of your parents

Job/Income

A job was the main source of income for your parents, and it is the same for you today. However, your parents had a better job/income prospect than you do today. Your parents were lucky to be in an era where jobs were more than the number of qualified graduates. They were enticed with lucrative job offers like a car, a house, and a juicy employee package from day one. This meant that they were almost overpaid from the beginning and didn’t have to bother about acquiring more degrees to edge competition like you do today. If you had a degree back then, you were in demand.  And it helped that they also lived in rural areas, so farming helped subsidize household costs. Yet despite these advantages a lot of them ended up broke in retirement.

Your options are slimmer today. You live in a time where degrees are a commodity. Regardless of the school you attended and the degree you have you practically need to beg to get or keep a job. You are also more likely to be underpaid from day one with no juicy perks like your parents. Worst of all is that the fierce job competition forces you to acquire more degrees, spending more money on tuition, and achieving financial independence at a later age. Your cost of living is also higher as you live in more urban areas and lack a subsidizing system for your household cost. Thus, compared to your parents your odds of achieving financial freedom are slimmer. Unless you find a way to increase your odds your chances are worse than those of your parents.

READ ALSO: How To Save More Than You Spend And Double The Speed Of Financial Freedom

Savings

Savings is what you would look like in retirement when your paycheck is gone. Yet it seems like your parents saved more money than you do now. And here is how I know.

Your parents had more children and dependents than you do today, yet they were able to train them all debt free. Not many people used debt back then, but today debt is mainstream. Your parents were also able to achieve major financial goals early and debt free too. They bought their cars debt free, built their houses debt free and trained their children debt free. Today we do everything with debt because over 75% of people only save 5-10% of their income. They send their children to school on loan, buy a car on loan, rent a house on loan, buy electronics on loan, and build a house on loan. We have become a loan-infested society reducing any chance of achieving financial freedom.

Your parents also had a better retirement savings plan. Most of them retired with income that is the same as the last salary they earned before retirement. Today retirement plans at best represent only 20% of your salary. Without big portion savings and the ability to augment pension income your financial freedom dream is a mirage.

Investing

If savings is what you look like in retirement, investing is what sustains you in retirement. Thus, there were two main investments our parents made  and understood during their career life and these are also the investments that you do today. There are real estate and children education. But your parents have certain advantages that you do not have. First, they could send their children to affordable public schools, enjoy free education, and were not peer- pressured into sending their children abroad. Today, some parents spend a major part of their 15-20 years income on education even though these educations are useless without a job. Parents today seem to be enriching the schools than they are enriching their own financial future. They are also putting themselves in more debt through home ownership. A personal home is a non-income producing asset and the best way to own it is debt-free. While a home is important, it will not pay your bills in retirement.

READ ALSO: How To Give Cheerfully And Still Achieve Financial Freedom

Children Independence and Value System

Your children are your greatest investment, yet our parents seem to have done a better job investing in children than we do today. At the core of their career was time dedicated to bringing up resilient, strong, and respectful children. A disciplined, moral-based, and religious-based training approach was used, an approach not entirely perfect but produced resilient, disciplined, and respectful children with strong moral and family values. Today in the bid to soften this training approach, we have mass- produced fragile children that are dependent, entitled and can break under pressure. Yet, the world we live in is neither soft nor easy. The worst thing we have done is dilute their value system by sending them abroad.

Today’s children are likely to be strangers in their home country and strangers in their base country. They are unlikely to return home after school and be present for their parents in their old age. Parental care will be done majorly via skype and zoom. And real estate assets will be abandoned, sold, or left to strangers. Even so their chances of success in their base country where they are treated as second class citizens is limited.

Truth be told, you have way more disadvantages than your parents. While this generation has succeeded in increasing their cost and disadvantage, they have done little to optimize their advantage. And until you optimize your advantage you will end up in the same place or even a worse place than your parents.

To learn more about ‘How you can end up in a better place than Your parents’ watch out for part two of this article.

About The Author

Grace Agada is the most sought-after financial freedom expert in Nigeria. She is a renowned author, financial freedom advisor and keynote speaker. Agada  is popularly known as the Queen of Financial Freedom, the Breadwinner’s Advocate and the Middle-Class to Upper-Class Mentor. Her goal is to help working professionals and breadwinners move their success and livelihood from a paycheck to their own solid passive income. Agada is the author of three books and possibly the most widely read financial articles. Her articles are spread across seven national newspapers and four of the most popular Nigerian blogs. Agada is also the Founder of the University of Wealth, the Rich Retirement Life Quarterly Publication, the Wealth Creator Quarterly Report, and the Wealthy Business Blueprint Program. Agada has been featured on BBC Africa, Business Day TV, Inspiration FM and inside Naijatv. And she consults for numerous top organizations, company directors, CEOs, C-Suite executives, and high-income professionals. To connect with Agada, send an email to info@createsolidwealth.com

 

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How To Stop Hustling And Start Positioning For Wealth

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How To End Up In A Better Place Than Your Parents At the end of Your Career (2)

By

Grace Agada

The word positioning means to be well placed in a path of opportunity, ready and able to harvest, extract, and leverage opportunities when they show up. This means that positioning that creates wealth involves three things- a path where opportunities flow, your position on that path and your ability to extract and leverage opportunities when they show up. Thus, for positioning to work for you something of value must be flowing your way. Thankfully, one of the resources that flows our way is money. Money is in constant circulation because the moment money enters your hand it is ready to either leave or stay. When it leaves it enters the central money circulation system ready to be extracted by someone else that is well positioned for it. When it stays it remains with you as savings until you decide whether to invest it or lose it. Thus, if you spend 90% of your income every month on expenses, you are losing 90% of your money back into circulation. While we all must lose money back into circulation to keep life going, money lost into circulation does not make you rich. It is money harvested from circulation, saved, and well invested that leads to your own freedom. Thus, unless your money harvesting abilities exceed your money losing abilities you will not achieve financial freedom. When you contribute money into the system more than you harvest you are hustling. But when you harvest more money than you contribute you are positioning.

So, what is the difference between hustling and positioning for wealth?

The Difference Between Hustling and Positioning

Hustling is the constant grind of pursuing money because you are losing more money back into circulation than you are getting out. Positioning is being in the path of opportunity flow and having a system to harvest more money than you lose. To illustrate this concept let me use an example. Imagine for example that I give you the task to catch 1000 butterflies. Butterflies are a species of animals that are in constant motion just like money. So, let’s see the different ways you can achieve your goal. Your first strategy may be to catch the butterflies by hand. To do this you will have to pursue them one after another. Yet, butterflies have an advantage that you do not have-they can fly and are a faster moving animal than you. Thus, if you choose this strategy, you will wear yourself out by the time you have caught only 100 of them. This is what hustling looks like, and what 80% of working professionals are doing. They are pursuing a fast-paced moving item-money, wasting time, and catching only a little. Ok, let’s look at another strategy that you may use. Perhaps you decide to use a net instead. This strategy will help you catch more butterflies, but the method is still the same. You will have to pursue the butterflies and maybe you could catch 500. What if you decide to hire 100 people to each catch 10 butterflies instead? This looks like a better strategy, but the people will still have to pursue the butterflies. At the end of the day, you may achieve your goal, but you will be adding cost and stress to the equation.

READ ALSO: The Big Financial Education That Will Speed Up Your Financial Freedom

So, what then is the best strategy?

The best strategy is to position and not pursue. Whenever you are dealing with something that has the advantage of speed more than you, the best strategy is not to pursue it. Pursuing will always keep the thing ahead of you. The best strategy is to go ahead of it and position in front of it for an easy catch. When you position you can achieve your goals faster, with little time, workload, and cost.

So, how do you catch your 1000 butterflies?

To catch the 1000 butterflies, all you need to do is to first answer the question. What do butterflies want or love? Butterflies love flowers and are attracted to beautiful gardens. Adult butterflies get their energy from nectar contained in the flowers in a garden. Thus, rather than pursue butterflies you simply focus on building a beautiful garden and then position the garden where they can never miss it. Once the garden is set, all you must do is set a trap for the catch and then take a seat, grab a cup of coffee, and see your 1000 butterflies flow into your trap of their own accord. This seems to be what the wealthy people are doing and why hustlers can never be successful.

READ ALSO: How To Save More Than You Spend And Double The Speed Of Financial Freedom

So, if positioning is the answer, how do you position for wealth?

To position for wealth, you need to do three things.

  1. Focus on People

People are the means through which money moves. Money does not have legs, so the only way money moves is through people. This means that you must do something for the people that already have the money to get it. And the only thing that will allow them to give you their money is when you solve a problem for them. Problem solvers also known as business owners are the wealthiest people in the world. Without the ability to solve problems, especially high-income ones you cannot increase your income or achieve financial freedom. The more measurable, specific, and unique the problem you solve the more money you will make. People are the real wealth in circulation, and not money. And they are also the real answers to your more money problem. The truth is all the money you want and will ever need is already in the hands of somebody else. But the only way to get it is to solve a problem for them. Thus, the more people you can solve problems for, the more money you will make. Sadly, employees are stuck with one employer, and until you can solve problems for other employers outside your main employer, your chance of achieving financial freedom is slim.

  1. Choose a Proven Path to Wealth

To create wealth, you must choose a path where wealth is already circulating as not all paths lead to wealth. Some paths can only help you get by. For example, the path of a teacher is different from the path of an entrepreneur. While the entrepreneur’s path has been proven to produce many millionaires, the teacher’s path has no such capacities.  Thus, the path you choose is important as far as wealth is concerned. Also, within a path not all places and positions are profitable. For example, research shows that 70% of businesses die after the first five years even though they are on a proven wealth path. This means that you must choose a profitable position and place for success to happen within a path. So how do you position in a given path? There are three things you must do.

The first is to choose a unique position. Your position on a path is what differentiates you from others in the same path. You must be unique and different to stand out. The second thing you must do is to choose a unique place. Your place in a path is the unique category you have carved out for yourself. For example, Apple is in the phone niche market. But the design of Apple phones and its features puts it in a different category from its competitors. The third thing is your solution – that is the uniqueness of how you solve the problem. If people are going to give you any money, you must solve the problem in a unique way.

  1. Create your Own Wealth Garden

To position and not pursue wealth you must create your own wealth garden.  A wealth garden is a center of resources that benefit and attract other people. To create your own wealth garden, you need to do three things. The first is to develop a strong personal brand.  Money does not flow to you when you are a nobody. Money flows to you when you have built a name. Who are you and what would we find when we Google your name? If your name does not ring a bell you would struggle to create wealth or extract maximum wealth from the system. The second thing you must do is own and control valuable assets. If people are going to come to you, they will come because you have certain assets that they can benefit from, leverage on, use, buy, borrow or share. When you own and control valuable assets you become a natural magnet for the people that need those assets. The third thing you must do is to have valuable relational capital. Relational capital is the ability to pull people, firms, or institutions together for wealth creation purposes. Since money flows through people, the more people, capacities, and resources you can pull together for mutual benefit, the larger the wealth you will create.

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But how do you do all these you may ask?

The simple answer I can give you is to focus on the part of you that can give you the greatest wealth leverage.  There are three parts of you – the physical you, the mental you and the spiritual you. To create maximum wealth, you must focus on developing your mental capacities (creativity and skills) and spiritual capacities (identity and alignment of purpose) more than you do your physical energy. Hustling simply means that your physical body is doing most of the work and this is the fastest way to end up with a pile of medical bills in retirement. To create wealth and preserve your health at the same time, you must focus on working your mental and spiritual energy more than your physical energy. This is the only way to separate your income from physical work.

Perhaps you need help making all these a reality in your life. We can help you. Send an email to info@createsolidwealth.com

About The Author

Grace Agada is the most sought-after financial freedom expert in Nigeria. She is a renowned author, financial freedom advisor and keynote speaker. Agada  is popularly known as the Queen of Financial Freedom, the Breadwinner’s Advocate and the Middle-Class to Upper-Class Mentor. Her goal is to help working professionals and breadwinners move their success and livelihood from a paycheck to their own solid passive income. Agada  is the author of three books and possibly the most widely read financial articles. Her articles are spread across seven national newspapers and four of the most popular Nigerian blogs. Agada is also the Founder of the University of Wealth, the Rich Retirement Life Quarterly Publication, the Wealth Creator Quarterly Report, and the Wealthy Business Blueprint Program. Agada  has been featured on BBC Africa, Business Day TV, Inspiration FM and inside Naijatv. And she consults for numerous top organizations, company directors, CEOs, C-Suite executives, and high-income professionals. To connect with Agada, send an email to info@createsolidwealth.com

 

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