The way I think determines my destination
If I have, and believe in thoughts like enjoying life while am still young because I won’t be able to when I get old, then getting rich might be a little hard for me, not many make it with such thoughts except when am to be among the lucky few. Its better for me to work hard while am still young than working hard during my old age.
Let me explain it to you more clearly. Most of the money I will be earning through hours of hard work will be spent in just minutes while buying depreciating assets which are not of good use in the long run. Since I will be spending a lot on leisure or buying doodads to impress others, I
will in most cases have financial trouble. Many people who rush for these short term loans to off set their financial problems are doing the same thing as anyone who goes to the bar to take some few drinks to forget his problems and by the time he gets sober he is in bigger problems in jail having bumped into someone’s car because he was drunk. Wise people do not use loans to solve family problems. It is not wise for me to pay 2 million for a salary loan of one million after 12 months because I want to put some few things at home.
Let me show you something most of us do not see. Most of us party almost everyday buying beer for ourselves and friends almost daily but what is the long run implication.
If I started consuming about $10 daily for 40 years of my corporate life I will have consumed
10 x 365 days x 40years = $146,000.
If I saved that money daily or invested in money vehicles such as stocks by the time I retire more than it will be waiting for me at my disposal. A rich man one time on TV said that if I learnt how to turn $1 into $2 then I would have started thinking like a rich person. But what we normally do, we turn thousands of dollars to nothing daily. Rich people spend money on things which bring back their money but poor people spend money on things which take away their money.
If I have, and believe in thoughts like enjoying life while am still young because I won’t be able to when I get old, then getting rich might be a little hard for me, not many make it with such thoughts except when am to be among the lucky few. Its better for me to work hard while am still young than working hard during my old age.
Let me explain it to you more clearly. Most of the money I will be earning through hours of hard work will be spent in just minutes while buying depreciating assets which are not of good use in the long run. Since I will be spending a lot on leisure or buying doodads to impress others, I
will in most cases have financial trouble. Many people who rush for these short term loans to off set their financial problems are doing the same thing as anyone who goes to the bar to take some few drinks to forget his problems and by the time he gets sober he is in bigger problems in jail having bumped into someone’s car because he was drunk. Wise people do not use loans to solve family problems. It is not wise for me to pay 2 million for a salary loan of one million after 12 months because I want to put some few things at home.
Let me show you something most of us do not see. Most of us party almost everyday buying beer for ourselves and friends almost daily but what is the long run implication.
If I started consuming about $10 daily for 40 years of my corporate life I will have consumed
10 x 365 days x 40years = $146,000.
If I saved that money daily or invested in money vehicles such as stocks by the time I retire more than it will be waiting for me at my disposal. A rich man one time on TV said that if I learnt how to turn $1 into $2 then I would have started thinking like a rich person. But what we normally do, we turn thousands of dollars to nothing daily. Rich people spend money on things which bring back their money but poor people spend money on things which take away their money.
Posts
No comments:
Post a Comment