Naturally, ‘wealth’ can mean a lot of different things to different people. In addition to referring to one’s financial situation, some people emphasize being spiritually wealthy, which might mean simply feeling fulfilled in life. Others place an even greater emphasis on health.
It’s certainly true that financial wealth, no matter how great it may be, is of little value if you do not enjoy good health, but let us reserve wisdom and health for another article.
First, why should we aspire to attain great wealth?
They say money makes the world go round, and it certainly opens doors and makes life’s journey easier! Some books and general media commentary states everybody’s goal is to become financially wealthy because only a rich man can fulfill his true potential in life by exploring all that the world has to offer. Others say that you should become wealthy because, without money, you are powerless to help others and positively impact the world and those you care about most.
It is certainly easy to come up with a dozen reasons why personal financial wealth should be our priority. Millions of young people worldwide leave school without a personal finance education and knowledge of wealth-building strategies, fundamentally unequipped to take care of their finances.
Why do so many leave school and even university without receiving a single class on the banking system and fractional banking, the role of the Federal Reserve, currency devaluation, how mortgage interest is calculated, the power of compounding, and why taking on excessive debt through credit cards or other debt instruments is equivalent to? The result? So many people spend their whole life working a job they do not enjoy with the dream of someday paying off a massive mortgage and, even worse, additional credit card debt.
Most of us believe that something is fundamentally wrong with the system but believe we have no choice but to go along with the status quo as the fate of our money as taxpayers are determined behind closed doors. Bailouts favor the banks and the rich, while the average Joe loses his job and is presented with ever-larger grocery bills.
This era of cryptocurrency is an essential and once-in-a-lifetime opportunity. An opportunity for the average Joe to break the cycle and take back control. This is our chance to educate ourselves about this fantastic opportunity and not just see it as an opportunity to get rich quickly. What are you going to do?
Thank you for reading and hope you have a good rest of the day!
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My view on obtaining wealth is always about "participation." Granted, opportunities are different depending on what country you happen to live in. I can only go by the opportunities present in my own country, the United States.
I agree that not enough is taught in schools about all of the things you mentioned that are important not only to financial health, but understanding which leads to better things. What does credit card debt cost, what is the power of compounding, why does keeping a savings account actually cost you money?
As well, I think too much emphasis is placed on how much money someone makes or what kind of job they should get. Of course it matters to some extent. But ultimately it is not about how much you make, it is more about what you DO with it. It is more about how much you understand WHAT to do with it, and how much you understand fundamentally how money is ACTUALLY made. And perhaps more importantly how it grows, and how to grow it.
I became involved in the stock market very early in my life and even delved into real estate. I never had a lot of money, but it did not stop me from investing (and learning all I could about HOW to invest). The argument that one needs to have a lot of money to start is pure hogwash which I have spent a lifetime trying to help people to understand.
Nonetheless, it has worked out well for me, and the one nice thing about having money is while I still work, I CHOOSE my work, and I have much more freedom than most people to make decisions for myself.
The bottom line is that money equals freedom.