Its everybody's prayer to be rich and comfortable, however, some people still find it difficult to make ends meet. There may be few things they are not doing right, or things they simple do not know.

If we take a moment to observe some wealthy people around us, we'll see they always go after one particular thing, Assets.

If you must be wealthy, here are few rules that must be known to you.


1. Your assets should always be greater than your liabilities.
Its a simple rule, don't waste money on liabilities, gather assets. Assets is something that puts money in your pocket. A lot of people think their personal house is an asset but its not. Meanwhile, a house you rent out to tenants is an asset because it puts money in your pocket.
Your iPhoneX is not an asset, that bentley is not an asset, that girl that has a lot of asset is not an asset. Your business is an asset, your investments is an asset, learn to differentiate between the two and you're good.
Note: Your phone or PC is primarily a liability, it becomes an asset when you start making money through it.



2. There is power in your thinking
The single most powerful asset we all have is our
mind. If trained well, it can create enormous
wealth.

Thoughts bring ideas, it is your ideas that turn into reality, as long as hardwork is being invested.

Mark Zuckerberg was an undergrad when he came up with the idea of a "hot or not" type of
website called Facemash(The idea).
When he learned how technology could be used to connect people, he launched a site called thefacebook..com (The hardwork).

Today, the name has changed and everybody uses facebook. His idea changed everything, forget the fact that he is a programmer or comes from a rich family. You need to have the idea first.

”If you can't dream it, you can't achieve it - Balogun Silver“



3. Always have a positive mindset
Average people have one particular thing in common, its negative mindset. The rich people however possesses a positive mindset all the time.

Here is an example:
Lets say you have this amazing talent for cooking. People suggest that you start a business or at least write a cookbook. Instead of seeing an amazing opportunity, an average person will see only the obstacles. Like “There are already so many cooks in the world.... It’ll take forever to get a business license...... I know nothing about business.... The economy is too bad.... etc.”

They then abandon the idea and go back to their dead-end job.

Meanwhile, a positive person will factor in the
competition, time and lack of business education,
but they will not let that stop them. They will purchase books or use YouTube to educate themselves while they wait to get their business approved. No matter what, they will take the opportunities. Even if everyone around you is better than you, give yourself that positive mindset and a positive outcome will follow.



4. Don't listen to the majority
“If you follow the crowd, you'll never get ahead of them. If you follow your path, you'll lead the way.”

The safe path is going to school, getting a job and earning a salary every month, saving the money, avoiding big financial risks and taking loans.

The risky path is going against the tide.

The wealthy people’s behavior is commonly considered risky, impulsive, or even dangerous by the majority. Yet, they’re the ones with the fortune, think about it.


5. Patience is the key
“The most important factor to getting rich is getting started”.
A lot of people are still living from hand to mouth due to lack of patience. How?

Let's say a man started a business today, after a month, he calculated his profits and they are still relatively low than he predicted. He can't wait any further so he switches to another business he thinks will bring wealth in just few months.
After that few months, he is disappointed in the outcome of the business.

The biggest forum in Nigeria (Nairaland) was created far back 2005, I can deductively say the owner wasn't earning a dime 12 months after its launch.

But, what do we have today? Hundreds of new bloggers who wants to buy Bugatti in 6 months.

Wealth is accumulated first in small sums, then in larger ones as a man learns and becomes more capable.



6. Invest in yourself
“Your level of success will rarely exceed your level of personal development, because success is something you attract by the person you become. - Ryan Holiday ”

You will only become rich as you know how to.

Its simple, you can't be an entrepreneur if you don't have the knowledge or skills to solve human problems.

Most people don’t have a clue about complicated issues like budgets, cashflow, or taxes. But if you want to build massive wealth, you need to invest in yourself through learning.

If you don’t know how money works, you’ll never build wealth. Reason because money keeps flowing from one end point to another, its up to you to know where to intercept it. Without proper knowledge, self skills and financial literacy, you'll keep looking but you won't see the opportunities.



7. Diversification
Little wonder Dangote is the richest man in Africa, diversification has really helped him a lot. Once his food industry gets a downtime, the building industry supports.

What is even diversification? Its more like putting your eggs in different basket. This way, you spread your risks across different assets.

In simple terms, Diversification is to spread out your money into different kinds of investment.

Keep in mind that diversifying your investment is not a get-rich-quick approach for building wealth. Its goal is to soften the blow when the market drops.


8. Re-investing
I'll define re-investing as the act of building wealth. As long as the returns are being re-invested, the investment gets bigger and bigger.

For example, if I invest #20,000 into a business, with an annual interest rate of 5%, after 12 months I'd get #1000 as my interest.

But instead of buying Gucci for bae, I'll reinvest it on that same business.

Now,I'll earn 5% on #21,000 after another 12months, I'll receive #1,050 as my annual interest. If I decide to add the #1,050 to the #21,000 to become #22,050 I'll get another 5% annual return which again I'll re-invest....
Its an endless flow.

Source: https://medium.com/@silverg33k/few-things-you-need-to-know-if-you-must-become-and-stay-wealthy-d3274739cfb7

i feel discouraged cos the op wey dey copy and paste dispatch all these wisdom na broke motherfucker

This is awesome tho....

Nettgame made my easter period, was just cashing out anyhow, damn.... Thank you NettGame

scaramenga:
i feel discouraged cos the op wey dey copy and paste dispatch all these wisdom na broke motherfucker

Don't feel discouraged, what's even discouraging in my writeup, I'm trying to remind you of these things cus one way or the other, you would have read it somewhere.

Sir, I didn't copy and pasted anything, I read financial books a lot, ranging from think and grow rich, thinking for a change, richdad poor dad, the rich man in babylon e.t.c

Check the source, you'll see my moniker in the link, besides, I took time to write this...

Hope your day has been awesome?