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Income Is Not Wealth: A Tale Of Fish, Fortune, And Real Estate - Business - Nairaland

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Income Is Not Wealth: A Tale Of Fish, Fortune, And Real Estate by GideonOludayomi(m): 10:10am On Oct 25, 2023
Income is not the same as wealth; they are as different as Jollof rice and Eba! 🍛

I started a challenge on my WhatsApp status where I keep repeating this mantra: "Income is not wealth." Why? Because it's a lesson I've learned the hard way. So, let me spin you a yarn about my journey from rags to riches, and back to rags... and then a step toward riches again. 🤑

I've seen both sides of the coin, from living in just one room in a "face me and face you" apartment to finally having a room all to myself. We did everything in that one room, sometimes to the point of suffocation. So, you can imagine what it was like to be thrown a birthday bash in 1999 where I ate gogo sweets until I was vomiting. Up until this point, I had only witnessed my peers celebrating birthdays and sharing the goodies with me, but this time, I shared the goodies with them. Why was it so special? It was all because of my parents' financial status.

My stepfather was a big deal in the civil service - a level 16 officer with official vehicles and drivers on call. My mother was no slouch either, earning a sweet salary. We even had Sunday fish fries, and those fish were so big, we used the heads as appetizers! 🐟

But here's where the plot thickens: those prosperous times didn't last. Two cartons of fish turned into one, then half, and finally, we couldn't even afford fish anymore. We resorted to "beske" (fried mold from soybeans, also called tofu). You know things are rough when you're swapping fish for tofu! 🙈

I experienced this rollercoaster ride, and it taught me a valuable lesson: high income today doesn't guarantee financial security tomorrow. It was time to grow up and make some moves.

So, I ventured into business, thinking all I needed was a fat income. I grew to detest the idea of earning a salary. I foolishly assumed the salary was the problem and earning 'uncontrolled' income was the deal. But guess what? Competition crept in, and my income started vanishing faster than puff-puff at a carnival. Income is not wealth, my friends. It's just a tool for something bigger.

Listen to me, when you hit that point in life where you are earning a good income and every business you touch turns to gold, what do you do? Well, you lock it down, my friends. Income is only meant to build wealth; it is not wealth in itself.

Wealth is what you don't see.
Wealth is the nice cars you sacrifice not to purchase. The diamonds not bought. The watches not worn, the clothes forgone, and the first-class upgrade declined.
Wealth is financial assets purchased by income that haven't yet been converted into the stuff you see.

Let me tell you, this is where investments like real estate, bonds, shares, and so on come in. But the grand prize of them all is real estate. Real estate is the Beyonce of investment options - enjoyable, trustworthy, and consistent. It's like the never-ending party of wealth building. So remember, income is just a ticket to the party. The real action happens when you invest it wisely, especially in carefully selected real estates. 💰

My dear tycoons, remember that income is just the beginning, not the end. Real wealth comes from smart investments, like real estate. So, if you're ever stuck between a choice of fancy gadgets or land, think long term and choose wisely. Income is not wealth, but it's your key to unlocking the vault of prosperity. 🏡💰

Stay smart, stay sassy, and remember - wealth is the name of the game! 🚀

Oluwatobiloba Gideon OLUDAYOMI

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