Transcription
Under the principles of world creation, I think first I should have said something on word creation, where creation is the steady and consistent accumulation of income and assets over a period of time. And there are many steps to building wealth. Income is one factor, expenses is a factor, debt is another key factor, and then investing is also another factor.
Before I go to the second point, I shared this three weeks ago, and I would like to please encourage someone here or someone listening that studies have shown that 67 percent of millionaires today are self-made. So it has nothing to do with your family background, it has nothing to do with you being nowhere. These are people who became what they are financially from nothing, from nothing. 67 percent. So if it was possible for them, it is also possible for that man or woman listening to this message. Can that person say louder, amen?
And number two, like we said, the second point is that you must get a regular source of income. It is hard to build wealth from nothing without a regular source of income. And even some of these other things were mentioned, like things like invention. No, you don't just work, research without a regular source of income. If you are married, there will be problems. How do you provide for your family while your research is going on? So the research is something on the side, and many of the things we are mentioned, I could mention, are on the side. But at the bedrock of it is that it is most appropriate to have a regular source of income, a regular source of income. It stabilizes you, it stabilizes your family, it stabilizes many things, because even when you are going to have breakthroughs in business, it may not come as frequently as it originally will appear. A transaction that looks so good, it seems you have gotten a committed buyer, you'll be surprised that before that transaction is rounded up, the year is over, and the bills to be paid, the expenses on your shoulder. So it's good to have a regular source of income, very regular source of income. That is number, number two.
And number three is that you should, you must build wealth through a career. And many have achieved this in the journey, in their journey towards financial abundance. One of the ways you can enhance yourself in this realm is to first of all ensure that you get the best, the best, the best results in your career or professional exams. Our first class will certainly give you open doors compared to a third class or a second class lower. Back to a second class offer.
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And if it is possible that you have the opportunity, upgrade yourself. Even when you are working somewhere, there are many officers in the armed forces, in the police force, in the intelligence agencies, para-military agencies, that have happened to secure a master's degree, to secure that PhD. And intentionally, they went for a course that they discovered will be very, very useful if they are moving faster and higher in their career. Yeah. So in the process of serving, they discovered that if they had a degree from this particular course, it will enhance their promotion in that chosen profession. And so while they were still on the job, they started doing the Masters, some PhDs. And some women achieve this part-time. Some God is studying, but some did it. Many have achieved this part-time. Observe that someone could just come into an organization and is placed on a package that is 10 times higher than what you earn, even though you have been there for 15 years. And that is what comes with someone who evidently has a lot more going for him in terms of her qualifications, competence, and past performance or obvious potentials. Visa views that platform. So improve your skill set. And in this present time, just I will talk about diversifying your investments. Try to acquire skills in different, in different, in different things. Is that any skill set you want to acquire? Please, it will cost you money. Learn from an expert. Learn from an expert. Learn from someone that excels in that particular thing. If it's gonna cost you more money, please pay that amount of money. It is, it's a waste of time learning from someone that doesn't even know the winning strategy in that particular skill or realm of expertise. So this is very, very key. And someone identified 15 jobs could make you belong here in this present time. And mutually jobs like that one, the investment banker, to an auto. And some have actually achieved this even through e-publications. So it doesn't even cost you anything, unlike those days where you have to print hard copies. Number three, as an athlete. Number four, as an entrepreneur. Number five, as a lawyer. And there are so many areas of specialization in law. Some are obviously more lucrative in certain locations and countries. Number six, as a real estate developer. Many have emerged as multi-billionaires, and some as billionaires. Number seven, as a medical surgeon. As a medical surgeon. Number eight, as an inventor. As a hedge fund manager. As a hedge fund manager. Number 10, as an accountant. Number 11, as a professional entertainer. Professional entertainer. I could see some of them even back home here in Nigeria that have obviously entered into the multi-millionaire bracket through their skills and expertise as professional entertainers. Number 12, as an investor. Number 12, as an investor. Number 13, as a chief executive. As a chief executive. And number 14, but you know, you just can't be a chief executive. So there are things, there's a roadmap to getting there. And then number 14, as an insurance agent. As an insurance agent. And number 15, as an engineer. Of course, this list is not exhaustive, but it's a very up-to-date collection of some of the careers today through which people have entered into the multi-million and billion bracket.
And number four, we said, create multiple streams of income. Diversify your channels of income. But it's very, very essential that you begin by having a regular and steady stream of income. And then in addition to that, you begin to explore passive income streams, things that you can own and have, but you are not physically involved with that brings you money consistently. And they acquired a lot of them. I promise to make sure I throw some light on location before we close. Now, it is very key when it comes to building wealth, maintaining wealth. Some locations are not favorable for setting jobs.
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Cristiano Ronaldo, Ronaldo has just been offered $256 million by a Saudi, a Saudi club for two years. $256 million.
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For two years. Just two years. They are one of a few clubs like that in the U.S. that have also been doing the same thing, and even China, because they are trying to build up football in the those locations, in those countries. So they are ready to pay some of the most popular footballers in the world incredible amounts to bring them. And that is why you see people like, well, David Beckham, and Cole end up playing in the United States. Some of them go to China. Some of them go to these Arab countries that pay crazy amounts of money. Location factor. In some locations of the world, a particular course or degree will just be wasted, and you'll be wasting. But in another location of the world, you, you can instantly become a millionaire with that same qualification. I pray for everyone listening and your children that God Almighty will give you access to the best locations, the best locations, the best locations, in the name of Jesus. So location is very key, very, very key. Even within a country like the United States, for certain professions, you go to some particular cities and states. If it's another profession, it's better in another location of the same country, of the same country, of the same country.
Another factor about location, please take note of this. You can undo yourself with your residential location. There is time for everything. There are people that own houses in the best part of Lagos.
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An obscure part of the same Lagos, but they all kinds of Lagos.
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Some locations take too much in terms of mortgage and rent. You can't say you can't build money over time if you are exposing yourself to such high rent at a particular phase of your journey. I want to encourage every one of us that it is better for your tomorrow to be better. It is better for the end part of your life to be comfortable than for you to live an artificial life in your most productive years and then end up at the mercy of people in your retirement years. There is a time for everything. Why should you, as a single lady, be in a three-bedroom apartment? Why? What stops you from having two other young ladies who share your values, who share your principles, possibly of your same faith, in the other two rooms, and possibly sharing the bill with you? Many cannot build wealth. Why? On the end for rent and the rest for some education bill every year. But if you can walk in wisdom and put on hold that life of comfort for some time, in the years ahead, look for something more affordable. And the money you are saving from that decision, save and invest it in the right direction. In the long run, you'll be better off. In the long run. Even when it comes to taxes, big organizations have left Lagos. Many manufacturers have left Lagos and moved just to, you know, Redemption, that the express road there, that is a good state. There is a big difference between beggar down to this side and back down to the other side. Somebody say tax. Yes. And it's a huge amount. It's a huge amount. It's a huge amount. Around the same United States of America, there are some funny countries there that you may not even know their names, but they are tax heavens.
A lot of billionaires, multi-millionaires, that is where they register their company. They send tax from their profits every year. 50 for tax. So tax is another factor that determines your, should determine your choice of location. Tax, state taxes, local taxes, then cost of living. Cost of living in different areas. Cost of living. The same plate of rice you will eat in one part of Lagos for 200 naira, that same plate of rice they will offer you for for 5,000 in another part of Lagos. There is nothing special about the ingredients. It's just location.
And number six, engage in long-term savings. I close with a scripture there, Proverbs 21 verse 20. Proverbs 21 verse 20. Contemporary English version. He says, be sensible and stop, stop precious treasures. Is in scripture, who is God using to give us this scripture? The richest man that has ever lived, King Solomon. Don't waste them like a fool. Is in scripture. The same scripture that teaches us to be generous is the same scripture that teaches, be generous in giving, but be prudent in spending. These are two different things, spending and giving. These are problem-time tested. I remember the last thing that was mentioned, get advice from experienced financial advisors. Sit down with experienced brokers, experienced brokers. Sit down with people who are professionally well-trained in this area, and they have followed the various seasons and trends to advise you, to advise you on any of these areas you may want to take a decision in. And God Almighty will help each and every one of you to emerge and become the best you could be in terms of finances, in the name of Jesus. Amen.
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