People & Assets: A Probable Investment?
A lot of people would say that investing in people, is the best form of investment, while this is absolutely right, I do not think it's sustainable, dependable, viable or valid in all proportion. For example, I know a lot of people who would say..... "if I was given a million dollars, I will buy my mom a house, my father, a car, I would go to expensive places....." and so on. Hardly would you see them mention, investment.
Some actually does,
but then investment seems to always be the last on their scale of preference. Why is this actually so? A lot of people feel that investment is difficult and hence they'll rather stay away, they believe that making little profits like earning $0.50 interest on maybe a business they've put their lives in isn't enough to earn them the dreams they want. They're always fantasizing about hitting the jackpot, hitting that mega millions that could enable them to open the business of the dreams.
Nevertheless, the concept of making money comes in stages..
....it takes having diverse experiences of success and failure to actually have money. Anyone who starts out really successful without hiccups, and it spans for a long period of time must have inherited and already made venture or riding on luck for actually getting it right. However, one needs an Idea coupled with the right money to actually make money, in some cases, the idea might be right, but then, the money might be too small, sometimes the money might be right, but the idea lacks the essential ingredients to make it a success.
Whichever way it is, the only way to understand that it was the money or the Idea that wasn't right, there must have already been a situation of failure which should result in problem identification. While people who aren't business owners envisage these processes to be rather stressful, they fail to understand that taking the risk of starting up when there are some many red flags, like competition and inflation, gives these people some seasoned lessons about the principle of businessing whether they fail or succeed.
This is why I always say, if a person cannot handle earning $0.50 as their profit while having expenses to take care of, then it would be difficult for them to handle $1000 of profit" this is because there are rules to how money should function. Many feels that people who are rich shouldn't be frugal because they have the money to spend throughout their lives, but one of the reasons why people who are rich remains frugal even when they can afford to spend lavishly all their lives is because there were times when they had to be frugal to grow their business.
Times when they were faced with the challenges of making only one choice which their money can afford and hence when they finally attain financial freedom, they still choose to follow the principles that applies to money management. This is why it's important to understand that if you find it difficult to invest because you think you need to firstly invest in people or because you think investing is only for the rich, you'll definitely find it difficult to put investing in your plans even if you mistakenly hit a jackpot worth billions.
Truth is, people who have attained riches, wealth or success organically have once needed to make the ultimate sacrifice; Choosing family/people over choosing to grow their dreams, ambitions, profession or career. While this is a rather broad topic, I'll rather choose to look at it from the aspect of investing. If I was given a million dollars, there's no way I'm going on a spending spree.
This is often synonymous with Africans.
They believe that when you suddenly become rich the first thing you should do is "buy a car, buy expensive cloths, going on sex sprees, go to the club, then buy cars for all their siblings, in fact, any luxury that money cannot afford to buy.
The truth is, the fact that one gets a huge amount of money for free doesn't mean that the origin of that Money doesn't have a basis of hard work attached to it. So many people feel that being poor is why they can't invest, but when they fortunately hit a jackpot, the thoughts of investing doesn't even come to play, which makes it evident that the mentality of investing doesn't depend on whether you're rich or poor.
A Rare Opportunity?
It's sentimental to actually invest in people when you're just a new millionaire, it becomes logical when you're an established millionaire, and it is rather rational to choose to grow when you're exposed to money you never really worked for. The truth is, not everyone might be opportune to become rich in naira or in dollar.
This is why being rich without having to do so much is a blessing, a rare opportunity which millions of people in the world would never see till they die. So many people saw the bull of 2017 with crypto and with all that mad money, they chose to spend on things that weren't really sustainable, taking them back to ground zero when the bear came raging down in mid-2018. Individually, it's often good to cultivate the right "money" principles irrespective of your financial status.
Interested in some more of my works?
Circumstance Or Self Induced: How Do We Generally Lose People?
Financial Literacy For Beginners & The "Unaware"
Rusty Songs_ (An Original Poetry)
Lessons To Learn As A Potential Nigerian Migrating To Another Country.
Buying Education; Missing Out On Knowledge (Ignoring The internet As An Important Learning Tool) [Part 2]
How Not To Be A Bad Content Creator.
My name is @Josediccus, a young Nigerian entrepreneur who is a Vlogger, A Psychologist, Poet, Sports Writer/Analyst & Personal Finance Coach. I'm using my contents as a process to create shared meaning as well as create expressions through which people on/off hive can relate. I believe content is a process to be enjoyed and relished and I'm up for any collaborations in my field stated above. Cheers
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Investment is the key to success. Spending with thoughts only lands you to poverty no matter how rich you are.
Yeah, you're right, Thanks for coming through.
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🙂
Experience is the best teacher they say. So, how would experience be there without failures. I published a similar content weeks ago on attaining financial independence. Many people place themselves on high budget just to look richer than they are originally.
To understand investment, you need to first understand delay Gratification. It is knowing long time value over short time enjoyment that drives one to invest. I made a huge amount of dosh this year, I wanted to get some luxuries but I talked to myself- "Remember when you were broke".
I diverted the money to properties and my tech company start up.
Majorly I tried to talk about the dilemma of investing on people or choosing to invest further into one's career. It's one of the most relevant dilemmas people face, it's either you make a decision based on sentiment or a decision based on logic, it's difficult to sometimes infuse the both
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Yea... you are right. This might sound funny but it is the simple solution.
Na person wey get blood dey give. You can only invest in people when you possess enough, else you will end up going broke and no ones gonna help you.
Probably a sane man would not do that.
Of course it does not. I am poor. I live with multiple disabilities under the local minimum wage in Hungary, yet I still invest both my time and my earned money here as a part of a longer term plan of changing my situation. And I also build my Hive account to help others.
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Have a nice day. All the best. Greetings from Hungary.
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Of course, I believe that investing is a mindset and not a state of finance. Some people should be very poor, but due to their discipline and adherence to their principles of investing, they're doing great. Im glad you are too .
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I try to pull out 80% of my invest meant every year and reinvest in bear run
I agree that people should keep the same mindset no matter whether or not they are millionaires or not. At least it only makes sense to compound that and make sure it's still growing. Of course periodically spending a tiny bit but still growing your assets is the best approach if you really need something.
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Thats what im currently doing at the moment, taking a little part of profit, maybe 5 to 10% and keeping the remaining to actually compound and grow more profit and dividends. Its the most favourable formulae.
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Investment is the most important aspects of money which most be taken serious at every stage of our life.
We must keep in mind that bull run are not forever
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The bull would actually not last forever, so. Thats an Important aspect to take note of.
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I started reading with a background mindset to get an answer to either invest in people or asset but I mined some lessons from the post. Making money comes in stage and so is the sacrifice to make money. Thank you sir for this.
Investing in people is bae, that is, it's great. But we should have attained some level rather than having to make a choice. However when we do, it's either logical or sentimental.
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You are correct, and at some point in my life I was guilty of always saying I would do this or that for my parents when I hit this sum of money or that sum.
Gradually, I have learned that we cannot give what we do not have. Therefore, it's better to use the so and so money and multiply it, then, we can do this or that to our loved ones from the excesses.
This way my dreams of financial stability stands firm, and my loved ones get well taken care of too.
Thanks for the reminder through this post, I appreciate it.
Thanks for coming through. While investing in people is great, we have to understand that we need to nuture the resources we have for it to actually be meaningful. Sometimes money needs to be multiplied in every aspect of life to actually suit our plans and this is why it's Important to understand that people will always be there, but unfortunately not so for money.
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I love this part. "Nurture the resources" "to be meaningful"
I think it's one of my limiting beliefs. I usually think life might play pranks on me and take my parents away, right before I am able to take care of them. Life has done it before. Take away the people I have always wanted to take care of.
Well, I am trying to rid myself of this belief, by hoping and praying that it will not be too late to take care of my parents if I choose money first.
This is my sincere prayers.
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STOPCheck out the last post from @hivebuzz:
Growing up, I saw how much investments took my dad from grass to grace and the positive impact my mom is enjoying now from taking investment advice(s) offered to her in her active years.
Indeed, it cannot be overemphasized and should not be underemphasized in anyone's financial life.
Another great post @josediccus
As the landscape shifts, investing in people becomes more important than ever. Any company that wishes to be successful is advised to use its community to achieve its objectives. To learn more about the significance of community building, check out this article