If you are on a journey of discovery and seeking to learn how to create wealth you’ve come to the right place. The pity is that so few people ever seek out this knowledge.
There are no secrets to wealth creation, there are a multitude of lessons on how to create wealth in every library all over the World, in a myriad of shopping malls, and online, in books, tapes, podcasts and videos. All it takes to find the answer is the decision to go and seek it out.
After all, the Bible tells us to ask and we shall receive, seek and we shall find and to knock and the door shall be opened.
The challenge is that most people don’t bother to ask the critical questions and that so many that do, are deaf to the answers…
…there is a reason why though, it’s innate in our physiology. The first thing we all need to do is to learn how to unlock the Superior “I”.
People Need To Learn How To Create Wealth
Legal & General carried out a survey recently and I can’t imagine things are any better now. It had the headline, “Deadline to the Breadline”. For sure, they were highlighting the situation to help them to sell more of their products, that’s understandable…
…however the results were truly staggering, how do people sleep at night?
What that means is that the simple average of family savings was just £1205! That’s shocking…
…what it also tells us is that many families had no savings at all. The median figure shows how the minority, at the very top end of the scale, with big savings, skew the overall numbers.
In fact approximately one third of all households had absolutely no savings at all! Nada, nothing!
The report came to the conclusion that if a household’s income suffers an unexpected shock and suddenly stops, people in the UK would have just 29 days, on average, before their money would run out.
So what do you think? Would it make sense to learn how to create wealth?
The Richest Man In Babylon Teaches How To Create Wealth
George Samuel Clason wrote “The Richest Man In Babylon” back in 1926, in which he shares some “How To Create Wealth” financial wisdoms as he recounts a series of stories from Ancient Babylon.
The King of Babylon wanted to learn more about how to create wealth so he summoned Arkad, the richest man in Babylon and instructed him to teach his elders how to create wealth, so the whole city might prosper.
Arkad came up with seven cures for a lean purse:
- Start thy purse to fattening
- Control thy expenditures
- Make thy gold multiply
- Guard thy treasures from loss
- Make of thy dwelling a profitable investment
- Insure a future income
- Increase thy ability to earn
As a foot note on our how to create wealth voyage of discovery, I checked out how Warren Buffet got started.
Incredibly he started at just 11 years old when he made his first investment, buying three shares of Cities Service Preferred at $38 per share.
The stock quickly dropped to only $27, but Buffett held on tenaciously until they reached $40.
Warren Buffet learned about compounding many many years ago and put his money to work for him. To create wealth we all need to take a leaf from his book, and the richest man in Babylon, and pay ourselves first, hold on to our cash and make shrewd investments, so our money goes to work for us, not the shop keeper.
As always, I hope you got value from this post and are clearer now on how to create wealth. Please comment and share, I’d appreciate your feedback.