Most people are growing poor, not growing old. Let me explain. As we age, if we are not making smart decisions while we are young, poverty will be inevitable. “Rich” is tied to skills. “Wealth” is tied to systems. When a system is created that reproduces itself, it generates the opportunity for riches and ultimately wealth. Most times, the system utilizes the skills of workers who contribute to the success of the business and the wealth of the ownership/investors. These owners/investors don’t have to do anything either, expect retain ownership. You see, skills diminish, while ownership doesn’t.
When individuals grow old without owning a system, they are ultimately growing poor, as well; not just old. When our skills are at their peak, we are happy and confuse the difference between “rich” and “wealth”. We confuse permanent with temporary. Rich feels good, while wealth “is” good.
In our culture, most of our elderly people need the financial help of their offspring. Why? This is because they didn’t invest a portion of their lives building a system that secured their wealth. Instead, they only contributed to a system that made them feel rich.
On average, it takes 2,555 days to build a successful business. Meanwhile, our average lifespan is now 28,105 days. Your childhood accounts for 6,570 of those days. So you even spend more days being a child than it takes to build that business that is on your heart. What are you going to do with those days? There will be so many extra days in your bank to either live well or dream about living well. Are you willing to allocate just under 10% of those days to live a blissful life for the remainder of it?
I encourage you to look at your life. Are you growing old and poor or are you securing your future too? Is there an expiration date on your comfortable lifestyle? They say beauty fades but if you are smart enough, your bank account won’t be forced to follow suit.
Author: Staff Writer
Black and in Business Team contributes insight to the intellectual capital of its readers.