In the pursuit of Fulfilment , the buildup of wealth has a pivotal role to play. This article unpacks the three essential ingredients that shapes the buildup of wealth and ultimately fast tracks the attainment of fulfilment. The article highlights a dynamic interplay of time, financial strategy and personal ingenuity.
There are three ingredients in the Buildup of Wealth.
1. The First ingredient is Money, not the money in your Wallet, or the money spent on groceries. It is money you have compounded over time, seed capital, your go-to-hell account. It is the kind of money that serves as a buffer in a crisis or the type of money that can be used to pivot and maximise an investment opportunity.
2. The Second ingredient in the Buildup of Wealth is Time.
This is the most readily available ingredient, because everyone can afford time.
Time, the second ingredient in the Buildup of Wealth, is a powerful resource. It’s the yardstick that calibrates value in the workplace or market. Time is a non-diminishing resource, as it is materially abundant. Your ability to maximise and utilise it productively can become a leverage in the buildup of wealth.
If you come from the poorest of backgrounds, land a basic job that pays a living wage, work for 30years or more, and all you do is contribute to your pension, you will not be poor at retirement.
3. The third ingredient for Wealth Buildup is resourcefulness. Resourcefulness is the ability to find quick and clever ways to overcome difficulties. It can encompass possessing an uncanny spirit of enterprise, having a skillset in high demand, and possessing some level of financial literacy that enhances financial management capabilities.
Resourcefulness can encompass possessing an uncanny spirit of enterprise, having a skillset in high demand, and possessing some level of financial literacy that enhances financial management capabilities.
Your resourcefulness outlines your personalised roadmap to wealth, which explains why everybody’s footprint to wealth will be different.
Consider the millionaires you know; the manner of their wealth attainment will rarely mirror each other.
So how you manage your opportunities, privileges, and options will always be peculiar to you.
Everybody will have time, time is the leveller, exact amounts of 24 hours disbursed to everyone on a daily, all you have to do is manage it effectively, but resourcefulness and money are yours to build, any one ingredient is adequate if amassed in sufficient quantities, but possessing two or all three will be a tremendous leverage.
Depending on your peculiar situation, you will need these three ingredients in varying quantities, as you may not need equal amounts of all three. The good thing is that all three ingredients are exchangeable or tradeable,
For instance, you can give your time in exchange for money and resourcefulness by working a job that pays well and provides opportunities for skill development. So, you can give time in exchange for money and resourcefulness.
Some avenues to achieve this are Work, Apprenticeship, School and training.
Or stake your resourcefulness in exchange for time and money in such avenues as Delegation, Outsourcing, Consultancy, and career development.
And finally, you can give money in exchange for time and resourcefulness by simply recruiting others and paying them to get the work done, or creating an entrepreneurial platform that allows for the input of stakeholders.