Some Opportunities only come around Once! Invest in Assets
Opportunity comes but once, this quote might not be totally true but there is some truth in it, There are some opportunities that will not knock on our door twice, and if we joke or misuse them the first time, it is over.
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I have a friend who used to be comfortable, he was earning a decent amount of money, and he had enough to help out the needy but he didn't invest the money wisely, you would see him from one restaurant to another, buying clothes and other materialistic things, He lost his job a few years later and within few months, things became worst for him because he doesn't have any savings.
He started selling all the liabilities he owned and in no time, all was gone, he got another job that paid less than his former job, but the new job could not take care of his needs, and he regretted the way he misused the opportunity he got, he remembers how he used to lavish money and did not save anything or invest in anything that could keep him going in his worst moment, Till today he is still struggling to make ends meet.
When he was making money, assuming he invested in an asset that would make more money for him, he would be fine when he lost his job, I just hope another opportunity would come his way to rectify the mistakes that are still haunting him.
There are many people on this table, It is only someone destined to be poor that will have 10 000 000 Naira and use 9m to buy a car, Liabilities are things that make life comfortable and fun for us but we should not use all our savings to buy them so we won't end up selling them when hunger strangle us.
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The best advice I can give anyone right now is to Invest in Assets
You are not yet rich until you can earn money while sleeping, that is the true definition of Financial Freedom
Find a way to grow money, get a skill, and produce a service that is demanded by others and that way grow your money to infinity, all the world billionaires did not get to the top by working for others, working for others should be a means to earn enough money to start your own business.
I have a business is better than I have an iPhone
I have a housing property that I rented out is better than I have a luxurious car without a good source of income
I find these two things very common in the youth of nowadays. some of our youth will work so hard to earn money only to use it to purchase the latest iPhone and start begging for data online, that money for an iPhone could be capital to start up a business but they never thing in that direction.
I have seen people get lucky with money and the first thing they do is buy a car which they end up selling after a few months when hunger strikes, I am not saying iPhones and cars are bad but these things should not be bought with all your life savings!, you can invest first and take from the profit to buy this liabilities.
My second and last advice is, Never spend more than your income
Imagine earning 50 000 in a month and living in a rented house where you pay 500 000 annually, how will such a person pay rent and other bills like electricity not to talk of feeding expenses... live below the amount you are earning so you can save enough to invest and grow your money.
Just call me Burl.
I am a professional gamer, motivational speaker and a crypto enthusiast
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This is just life. Your friends experience shows how things change and the essence of being financially responsible and doing good investment that can save ones future. Most of these beautiful things are just liability that won't last forever. Good one brother.
Thanks man! we must be wise when it comes to use of money
Exactly, in fact more than wise because when you loose it, it might be hard to get back.
A well stated point boss 👏
But its so unfortunate how youths want to live an extravagant life yet no reasonable source of income and that's why Internet fraud is increasing on a daily basis.
yea that is it, no plans for the future at all and that is why they easily get broke
Exactly 💯
Thanks for todays knowledge.😃
you welcome!
We all know that having good money is very important for us to live a good life and if we get an opportunity and we don't work hard on it, then we don't get anything like that for the rest of our life. We have to earn our living by doing a very low paying job so it is better to take advantage of every opportunity we get. You have shared your experience and we have learned a lot.
Thank you for sharing your thoughts on seizing opportunities and making wise financial decisions. It's true that opportunities often come with a limited window, and it's essential to recognize and make the most of them when they arise.
Your friend's experience serves as a valuable lesson about the importance of financial prudence and investing for the future. It's regrettable to hear how his lack of savings and investment led to difficulties when faced with unexpected challenges. Your emphasis on investing in assets rather than spending on material possessions resonates strongly, as it aligns with the principles of financial stability and security.
Your advice to focus on building assets and acquiring skills that generate passive income is sound. Achieving financial freedom by creating multiple streams of income is indeed a worthy goal. Additionally, your emphasis on living within one's means and avoiding excessive spending is a crucial reminder of the importance of financial discipline.
Ultimately, your insights underscore the significance of thoughtful financial planning and responsible decision-making. By investing wisely and living below our means, we can pave the way for a more secure and prosperous future. Thank you for sharing these valuable perspectives.
Why person go get 10m still con use 9m buy car?😅😅
Rich ones don’t think that way. They may not even spend up to 10% of that money
I think the two pieces of advice are the most precious advice and all of us should follow it if we want to live a sustainable life. I believe that we need to focus one money-making assets rather than focusing on one luxurious life.
Spend but you can afford and before spending learn saving.