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Wealth = Money?

13 Nov

What a Misnomer!!!!!!

Does being wealthy, mean being rich, bank accounts overflowing with money, multiple cars, and properties, and being materially free of the woes and tribulation that surround normal living?

A definite No, or should I be emphatic and say one thousand No’s.

How many have heard of situations, where a person has either won a lottery, inherited money legally or illegally and within a short span of time they have lost it all? They are back to point Zero

Ever thought, why does this happen?

I am here to add salt to the wound by saying: You are exactly where you need to be!!!!

Some might rebuff and say “how unkind of you David?

How could you say that?

I worked all my life, and this is what I got to show?”

It is akin to Anthropology, the study of what makes us human. Anthropologists take a broad approach to understand the many distinct aspects of the human experience, which we call holism. They consider the past, through archaeology, to see how human groups lived hundreds or thousands of years ago and what was important to them.

Anthropologists study the origin, development, and behaviour of humans. They examine the cultures, languages, and physical characteristics of people in various parts of the world.

Similar with the Anthropology of Wealth

Our aim is to help demystify this concept of wealth. What I am referring to here is not a six, eight or ten-step model to financial independence, a quick buck made here, a wham bang one-night stand, approach to financial independence. Short term approaches to wealth accumulation as has been proven by millions out there is not the approach.
Instead, a WAPapproach, (Wealth Action Plan) that is sustainable and with contingency in place is the logical approach, which is what my Uncle John, my Business Coach shared with me to get me to where I am in my wealth portfolio. Today,I am playing that forward to help those interested in stepping up, in their accumulation of Wealth.

Wealth accumulation starts with the person being a student, they come to the table with an unfilled cup. It further takes Time, Resource and Nurturing as is the case with: –

  1. Baking a Cake – it takes more than a split second after the ingredients is mixed for the cake to be baked.
  2. Curd – Sour Cream is not edible immediately on mixing the ingredients, it takes at least 24 hours for fermentation to set the curd.
  3. Gestation period for a Baby –9 months for a normal birth.

When a client comes up to me with this idea of making Rs 1Cr (10 million Rupees – approx. US $ 150k) in a year, without any resource, capital, or mental space, not prepared to work through the process due to lack of discipline & commitment, I encourage them to find another coach. The “Know-it-all tribe” with minimal experience or the tribe that has not done the walk but pontificate about amassing wealth. You know what space they are at. Unless their Neuroplasticity, their environment, their vibes, their vibrations are in sync, no amount of information and support will help them achieve their outcome.

There are myriads of stories of people who have gone to a financial consultant, who showed them how to prepare a Cash Flow or a budget or to cut their spending or to start saving.

On returning what did those people do? Did they work on that plan? In most cases, none of the above change processes suggested was worked on. Why? Have they caught the right train to help them Step Up in their journey to wealth accumulation-to provide them with that comfort of amassing Wealth? Follow us on our Social Media Channels to see what we do? How do we do it? When do we do it? Timing is crucial.

Two primarily components that contribute towards a person’s wealth are Tangible and Intangible. We will address these in detail in future WEALTH SERIES.

For me to attain Tangible Financial Independence by my thirties, my coachers first drove me to fill my cup of intangible wealth to its brim, better still, till it overflowed.

This is what we will be sharing in our Wealth Series Video, Podcast, Post, Blogs, Online Courses, F2F workshop sessions and Live events.

Always remember:

YOUR WEALTH accumulated is a direct proportion to WHERE YOU ARE IN LIFE today.

Hence if you are not in a good space, go fix that first. Your Physical, Mental and Emotional well-being, otherwise you stand to lose a chunk of Tangible Wealth.

Never invest based on an emotion, or to prove a point. Instead, base it on proper research.

A case at point:
Just prior to the Pandemic, there was a person who had worked significantly hard during 2019and had accumulated a substantial amount of disposable income, 15 Lakh of Rupees (US$ 30K). With help from family, an investment into a property was made, without consideration of future inflow of disposal income. In 2020 when their inflow pot went dry with Zero inflow of Income, the financial institution was requesting for its overdue repayment be made to the loan.
When repayment was not forthcoming, the next option taken by the institution was to foreclose on the property. It is a known fact whenever there is a financial institution foreclosure, that individual does not get what they originally paid for the property. Hence a substantial loss was incurred. This was harder to digest as it was this individual first property. Coupled with that their credit rating went for a toss.

What this individual had to do before the purchase, was to ensure there was solid cash inflow for future repayments, rather than live a hand to mouth existence to meet repayments and to ensure a contingency plan was in place in the event of a drop in cash inflow. Never rely on Luck, with the hope money will flow in. If the above-suggested steps were adhered to, prior to the purchase, it would have stood out that, the proposed investment was not a viable option at that moment in time. Instead of purchasing a property, the available disposable income could be channelled into a liquid assets investment.
If this were done, they would still have had that capital with a good gain — (ROI) return on that investment. The necessary time, proper research, and guidance from a good wealth of coaching would have helped make a better decision. Cardinals to follow — avoid impulse and emotionally buying.

Another case on hand:

I had the privilege of being asked to work with up-and-coming young executives from the IT, Banking, Pharma and Hospitality industries, who were hired by top MNC in India and paid a top-end salary. These executives had never previously experienced such high-level inflow of cash, into their bank accounts. Hence what did they do with their high disposable income? Spend it unwisely, in a lot of cases on drugs and alcohol. These executives were the top performers in their domain of expertise. HR heads in those companies who were concerned about the direction these executives were heading, had reached out for help to resolve this concern.

Their prime concern was how could we rechannel their wasteful spending. We commenced working with Multiple groups of such executives redirecting their energies and creating a disciplined spending process for them to follow. Proud to say, many of them took on the options provided for them to shift gears and scale-up in life. From those batches we worked with, I personally knew of 28 individuals who acquired financial stability as Crorepati(Rs 10M club)Over a period of 3 to 5 years, some of these executives amassed net worth in excess of 1 Cr by the time they got the to early ’30s. making them eligible bachelors and spinsters (Nudge, nudge say no more)

Friends, this is a brief introduction to our new domain of work – “Wealth Series” Video, Podcast, Post, Blogs, Online Courses, MastermindSessions, F2F workshop sessions and Live events.

 
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Posted by on November 13, 2021 in Uncategorized

 

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