do this for just 3 years and i promise you’ll already start feeling like a billionaire.
if you’re coming from a humble background and want to build wealth, whether you’re a small business owner or an employee earning a salary or business profits, one of the best places to start is with two types of assets: money market mutual funds and the capital market.
but listen carefully;
one of the most important things you need to work on is your mind. people who come from poor or humble backgrounds always develop what is called a scarcity mentality.
work on your mindset, per se. you must understand that delayed gratification is essential for building wealth. many people say they want to become wealthy but cos of their background, they struggle with delayed gratification. they invest, sell for quick returns, make a little profit and that’s it. they never allow wealth to compound.
let me tell you a profound truth; wealth building is hard but it is also simple if you follow sound wealth principles, it has to do with consistency.
when i say consistency, i mean that every month you should budget a specific amount to put into your mutual funds and another amount to invest in stocks. choose a few quality companies and keep adding to your positions. you shouldn’t be concerned about price. what you should be thinking about is ownership. focus on quantity not short term price movements. there is a difference between focusing on price and focusing on ownership.
every month, when your salary arrives or your business profits, take an amount, no matter how small and consistently add to your treasury bills, mutual funds, and stock holdings. don’t do it cos you want to feel among or cos you made more money that month. put a structure in place and follow it consistently.
learn this early and execute, your future self will thank you in 3-5 years 👍