Sunday, December 13, 2009

Don't Try to Look Wealthy; Be Wealthy!

Nowadays, many people seem to have forgotten what it means to be wealthy and what living the good life is all about. More and more people tend to live a "lobster lifestyle on a tuner fish budget."

As a kid, I used to think the good life constitutes living in a big house, driving a Mercedes Benz (I love the brand - Mercedes Benz), being dropped off and picked up from school, having a personal driver, having a maid, you name it. Growing up in Africa, I never included things like a luxurious yacht, a summer cottage, a convertible BMW for the summer. But now, after all the traveling and exposure to different cultures and ways of life, all the above mentioned, are included in my definition of the "good life". What's your definition of the good life?

Many people want to be wealthy. This is goo! I'm an advocate for wealth because I believe it would set a people free. What I don't support is the quest to become wealthy for the wrong reason - to impress. Wanting to become rich to impress others has landed many people into trouble. Besides, it's one of the major causes of today's global economic meltdown.

I used to admire people living the "good life" and assumed they were successful. However, a closer look revealed that many are in debt of over 50% of their gross income and have plenty of credit cards and student loan payments. In most cases the car is leased. As a matter of fact, many people living the "good life" cannot write a check with their own money. They live a life of struggle and have borrowed money to look and feel rich. Is this the good life? Is the good life a myth or a reality?

There's an unbelievable amount of wealth in the world but the majority of people in the world are not wealthy. In the U.S., for example, nearly half of the wealth is owned by less than 5% of the population. Don't get me wrong, many people make good money. However, they still live paycheck to paycheck due to misplaced priorities. All the money they make is invested on looking wealthy. As if this is not enough, saving has become an illusive concept. Statistics show that in America, for every dollar earned, $1.22 is spent. Very few people invest money in building true wealth. Does this ring a bell?

The celebrity culture today has led many ordinary people to the wrong direction. We see the celebrities living the good life. What we don't see is the hard work and investments behind the scenes. The picture many of us see and copy is - EXTRAVAGANCE. This has distorted the view of what success is all about.

Most (if not all) wealthy people are investors. They invest in income generating opportunities. An investor may never realise a hugh salary, but make no mistake, the cash flow is very significant and that's what wealth is all about. There're many routes to wealth. You won't find them unless you're open to hearing about them. Once you find them, make sure you read the map before you venture out. The bottom line is, financial independence is more important than displaying high social status. Forget looking wealthy; be wealthy!

1 comment:

  1. Wow, this is powerful. Zuzeeko's blog is an eye-opener in so many ways. This is another great read and very thought-provoking.


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