Earning high income and wealth Creation are not the same. Many basketball champions, and music stars who have been rich before, but had not created wealth ended up declaring bankruptcy later in life.
Earning income is great and may be the starting point for your wealth creation journey.
However, there are many limitations to one depending solely on earned income for a living.
In this session , I will highlight three limitations to earning income alone without creating Wealth with it
One, money will leave you if you do not create wealth with your earnings. This is because money is called currency. It flows away if you do not convert it into an asset that would generate more money.
Two, you cannot leave legacy if you cannot create wealth
Three, you may not enjoy financial freedom just by earning alone . You can attain financial freedom when you do not have to go back to 9 to 5 job to earn income
The question is how then can I create wealth ?
Wealth creation is done through owning and controlling one or more of the four assets classes that create wealth
One, you can create wealth through commodity
Two, you can create wealth through paper assets
Three, you can create wealth through business
Four, you can create wealth through real estate
In this article , I want you to know that it is almost impossible to create wealth outside of these four asset classes except one steals the money or wins by lottery or through inheritance. Even when people get wealth through this, it’s a question of time they may lose it if they do not convert it into owning and controlling the four asset classes.
As I conclude I have shared with us some of the limitations of depending on earned income alone for a living. I also shared with us how we can create wealth
