One topic that consistently resurfaced during my quite time is having a clear understanding of the state where one can be considered to have completely scaled poverty. I acknowledge the fact that God is the ultimate provider and sustenance of wealth, but as human I believe one can get to a level when one can confidently say one has scaled poverty and I mean sustainably.

This thought is a result of my very humble background where I had direct contact with poverty and nothingness of survival, coupled with the fact that I have grown into being able to finance living in a very upper middle class neighbourhood. I continue to ask myself day in day out if I really can sustain the live am living and how?

My experience in life (in and out of work place) has also influenced this question am asking. I have seen mid and senior managers who have been asked to leave my organisation, and suddenly decelerate into poverty to extent that they can not take care of their basic need. At what point can one say one can sustain the life one is presently living. This question goes to all of us who are either in paid employment or self employed.

Experience and matured response please?

Op im not too sure buh personally I feel its d point where even if u are not working for anybody, ur basic needs can be met.


I can relate with d senior mangers issue. its simple. Most africans r not good planners, n we always want to show off acquiring alot of liabilities (cars, goods, n people ) wen we get small cash...not knowin its actually' small cash'

Whn u take another poor man out of poverty.
I think if u have enough to take another man out of his own poverty, then u ve scaled urs.
It nw depends on ur own definition of poverty. To some it means when there's no food, others see it in terms of material possession, others see it as a mental limitation. What then is poverty to u?

Oche211:
Whn u take another poor man out of poverty.
I think if u have enough to take another man out of his own poverty, then u ve scaled urs.
It nw depends on ur own definition of poverty. To some it means when there's no food, others see it in terms of material possession, others see it as a mental limitation. What then is poverty to u?

Definition of poverty is a thought provoking one...for me I think my definition has evolved over time. It used to be basic needs, food shelter and housing, I grew with lack in most of this most especially food. Now transportation, security, power, ability to pay school fees for children additional necessities, that I think could quickly define my quality of life? If one is on a fairly good pay, one may be able to sustain this. At the loss of income, it could be a challenge...how can one sustainably finance this basic needs?

Wealth is actually a multiplier effect so also is poverty but my grandpa tells me from experience that since nothing is constant but change. You can only insure yourself against poverty by acting in your circle of influence and following this laws,
1, Networth without cashflow is bad investment
2, Earn before you spend
3, Expand your means
4, have an insurance plan.
5, Expand you means
6, earning from assets must exceed your liabilties
7, money is a seed, a seed can grow in to a might oak
8, never stop learning the game of money
9, teach you kids about money as they grow they will be independent and not a burden
10, Learn to give, teach and celebrate.
He give us this message once we are 8year old and we read every birthday. Currently I earn 5times my monthly expenses but not yet finacially free. You can read more of *kiyosaki book on investing*.

elewedu:

Definition of poverty is a thought provoking one...for me I think my definition has evolved over time. It used to be basic needs, food shelter and housing, I grew with lack in most of this most especially food. Now transportation, security, power, ability to pay school fees for children additional necessities, that I think could quickly define my quality of life? If one is on a fairly good pay, one may be able to sustain this. At the loss of income, it could be a challenge...how can one sustainably finance this basic needs?

u've said the absolute truth. Our definitions of poverty evolves over time. As we grow older and climb higher in life, our perception of poverty (and indeed life generally) changes. It is however important for us to differentiate btw our NEEDS nd WANTS.
Look at this case scenerio, a man goes to a resturant to eat lunch, he eats a meal of N450, another man goes to another resturant nd eats a lunch of N15,000. U might say d first man is poor, however he has taken care of his basic need at that point which is FOOD. A man who eats 3 times a day isn't necessary poor, rather a man starts to grab the full meaning of poverty whn he struggles to eat a single meal a day.
U send ur kid to a school where they pay #75,000 a session (#25,000 a term), another sends his to a public school nd still, another man sends his to a school where he pays #3 million. All the kids get the basic need which is EDUCATION. However, one gets more luxury than the others.
We all WANT luxury, it's however important to always identify the NEEDS b4 the WANTS so that u cut ur coat according to ur clothes ( nt ur SIZE mind u cos the cloth is the material for the coat). How do u do that?
Through effective PLANNING.
A lot of people pursue Luxury (which they've mistaken to mean HAPPINESS). So they toil all day nd night seeking it nd whn they don't get it, it leads to other things - excessive thinking, drinking, being a workaholic, aggression, blames, sickness nd even crime.
Remember, PLAN, PRAY, PLAY and GIVE.
They help.

Oche211:

u've said the absolute truth. Our definitions of poverty evolves over time. As we grow older and climb higher in life, our perception of poverty (and indeed life generally) changes. It is however important for us to differentiate btw our NEEDS nd WANTS.
Look at this case scenerio, a man goes to a resturant to eat lunch, he eats a meal of N450, another man goes to another resturant nd eats a lunch of N15,000. U might say d first man is poor, however he has taken care of his basic need at that point which is FOOD. A man who eats 3 times a day isn't necessary poor, rather a man starts to grab the full meaning of poverty whn he struggles to eat a single meal a day.
U send ur kid to a school where they pay #75,000 a session (#25,000 a term), another sends his to a public school nd still, another man sends his to a school where he pays #3 million. All the kids get the basic need which is EDUCATION. However, one gets more luxury than the others.
We all WANT luxury, it's however important to always identify the NEEDS b4 the WANTS so that u coat ur coat according to ur clothes ( nt ur SIZE mind u cos the cloth is the material for the coat). How do u do that?
Through effective PLANNING.
A lot of people pursue Luxury (which they've mistaken to mean HAPPINESS). So they toil all day nd night seeking it nd whn they don't get it, it leads to other things - excessive thinking, drinking, being a workaholic, aggression, blames, sickness nd even crime.
Remember, PLAN, PRAY, PLAY and GIVE.
They help.

wealth of experience

How rich can one man be?
What does it take to lose it all?
How careful can one man be?

I got goose pimples when I saw it on new about how a chinese billionaire lost $ 12 Million Dollars in about 30 Minutes.

The chairman of Hong Kong-listed Hanergy Thin Film Power, a maker of equipment for the solar power industry, just saw $14 billion wiped off the value of his controlling stake in the company in a so-far unexplained end-of-day crash.

http://time.com/3890491/hanergy-li-hejun/

Well, I'd say.
we plan for the best and BE PREPARED for the worst. Work Smart and Pray Hard.

poverty can happen to anyone even the richest man on earth, so as much as someone can be comfortable in life, the idea of being poor will always be present... but IMHO, as soon as someone has the means to provide the basic life needs (food/shelter/clothing/bills/entertainment etc) for themselves, then they can no longer be considered "poor".

While it's been argued and proved that poverty exists as a state of the mind and financially cash-strapped folks with lively hope and positive mindset have been known to strut around healthily into their 70's, 80's and 90's while millionaires died of stroke and stress only on being dethroned back to "thousandnairre" status.

I would like to surmise that continuous amassing of means has been insidiously made a lifelong goal of many of us.

The factors are many, can't be them all but consider:

- the ever-increasing Nigerian inflationary trends

- the pathetic and continuously weakening strength of the Naira

- the dearth of quality goods, products and services that could actually deliver as per their product claims e.g. how.many times have you had to buy another phone charger, power bank etc because evenlynthe nicely packaged ones you ordered from Kaymu was flaky? What if you didn't have the money to buy another one, service or order replacement parts? Same goes for generating sets, laptop, building accessories etc
The Moral of the story: In Nigeria, whatever money buys, money must continuously flow to maintain, even if at any unreasonable rate!

- the lack of future security of life, healthcare, safekeeping and property;
Everybody knows that in Naija, even if you don't grow old as an Atiku or Odili, at least, you've gotta have enough to insulate you from the rat race in your old age. Growing old poor in Naija is not funny, I can guarantee you.
So you keep looking for money, power or more money to buy influence and the comforts of life I.e.convertible assets and liquidities.

The inherent failure of the fo0lish system we are running here will never make anyone comfortable enough to rest on their oars for anything. It even stifles true creativity and artistic development. That is why we are a nation of Suwoor dancers .

Aluta Continua then, God blesz out Hu$tles!