Step Ten – Philanthropy

Nobody lives forever, at least not yet.  You have spent your life building wealth and building a legacy for your kin.  But how do you ensure that the good you are doing will impact many lives now and also long after you are gone?  You do this through philanthropy.  In step#9, we showed where legacy… Continue reading Step Ten – Philanthropy

Step Nine – Legacy Planning

According to Williams Group Wealth Consultancy 70% of rich families lose their wealth by the second (2nd) generation.  That figure jump to 90% by the third (3rd) generation.  This is often because those who struggled to create the wealth fail to discuss openly with their offspring what wealth and money means to the family.  Often… Continue reading Step Nine – Legacy Planning

Step Eight – Preserve Wealth

There are more important things in life than a little money, and one of them is a lot of money ~ Anonymous.  You must become rich in your thinking before you can become rich in reality ~ Napoleon Hill.  Napoleon went on to say that the single most important step you must take on the… Continue reading Step Eight – Preserve Wealth

Step Seven – Plant Seeds and Acquire Assets

Over 80% of Millionaires today are self-made.   This means that they did not inherit their millions, they earned their millions.  Now these ‘self-made’ millionaires are from different socio-economic backgrounds, with more than 50% of the self-made millionaires coming from a poor or lower middle-income socio-economic backgrounds.   Therefore whether you come from a country that is… Continue reading Step Seven – Plant Seeds and Acquire Assets

Step Six – Invest

Compound interest is the eighth wonder of the world.  He who understands it, earns it.  He who doesn’t, pays it.  Compound interest is the most powerful force in the universe – Albert Einstein.  How much do you think just one cent (0.01¢) would be worth today if we invested it from the birth of Jesus… Continue reading Step Six – Invest

Step Five – Get Out of Debt!!

Benjamin Franklin once said that he would rather go to bed without dinner than rise in debt.  Dave Ramsey, Author of the New York best-seller ‘The Total Money Makeover’ said that there are no shortcuts to getting out of debt.  Last week I used the analogy of TWSG being like building a two-story mansion where… Continue reading Step Five – Get Out of Debt!!

Step Four – Save

If Third World Success Guide was a two-story mansion Steps #1, #2 and #3 would be building the foundation of our mansion.  It would be dug in a solid rock, deep and immovable.  Step#4 which I introduce and will discuss today would be the ground floor of success.  This step would be building on those… Continue reading Step Four – Save