6 Pillars To Becoming Wealthy  

When it comes to growing wealth, a lot of people get things wrong. They do not know how to start and how to continue to grow their wealth when they start making a headway.

In this article, we shall be looking at some of the ways that one can follow to become wealthy. These ways are carefully explained to give you the understanding of what each one of them entails.  

Reno Omokri, the politician and lawyer, put out six different methods one can follow to become wealthy in life. It's these points that we shall expand in this article so that we can all benefit from his knowledge and experience.

Without further ado, let us delve into the 6 ways one can become wealthy.

1. Don't Reproduce Children Until You Produce Wealth

Children are very expensive to cater for, and when you give birth to them without a proper plan, they are likely to become wayward and also put so much pressure on your little resources.

Your children did not beg you to give birth to them. You did it out of your own will and must be ready to shoulder all their responsibilities.

You are responsible for their health needs, accommodation, clothes, food, education and all other things that they may need to grow well. 

This will definitely give you headache, if you are not well grounded financially. You will always be struggling to meet these demands and in the end, you might end up burying yourself deep in debt.

You will be owing people that you can't even pay and will therefore struggle financially. 

To put yourself on a good footing, you need to think about making money first, before giving birth to children. It will take the burden of taking care of them from you when you are still struggling to come up 

To sum this up, I can confidently say this without a shred of doubt, that, most African families struggle because of their poor decisions regarding having children.

They give birth to children at a time when they're are struggling and should have been thinking about making money. 

2. Get Passive Income Before You Begin Active Spending. 

To be able to build wealth, you must know when to spend and when to invest. 

If your business is still struggling, you must not start spending the little profits that you make. It will only put you down and eventually collapse the entire business.

All you need to do is to discipline yourself and desist from touching your money until your business venture is on strong feet.  

Again, you need to start making passive income, if you are an employee before you begin active spending. Your salary, no matter how much it is, will always not be enough for you.

You are going to be struggling all the time trying to rely on that amount to sustain your life and that of your dependents.

Learn a skill or find an extra job which you can do aside your regular job to be able to make some extra money for yourself. For the list of skills that you need to become wealthy, CLICK HERE. 

3. Have a Side Hustle Even if You Have a Job

This point is in a way related to the first one. It is also just talking about ways to help you raise additional income for yourself.

As someone with a 9–5 job, you need to be extra smart to consider learning a SKILL that can help you to do other side jobs on the digital space.

There are limitless opportunities for those who are able to acquire some digital skills and be able to operate well in the fast evolving digital world.

Get onto the internet and learn a lot of these skills for free and start practicing to liberate yourself from financial misery. 

4. Real Estate is Critical

Most of the wealthy billionaires you see around have huge investments in the Real Estate Industry.  

You might be thinking that you do not have the financial ability to acquire real estate assets. You have no excuse! You can start by purchasing plots of land and registering them. 

When you get some little money, you can start developing those lands into residential flats. 

Again, the location is also a factor that will help you to make wealth from Real Estate. It is better to buy or build a house in a bad part of a good location than to have real estate in a good part of a wrong location. Because real estate follows population growth.  

Location is the first rule of real estate. As long as the world does not increase in land mass but increases in population, well-located real estate will always appreciate. 

Alternatively, you can also lease those lands out to investors to take and develop the land if you lack the funds to finance your project. Through that, you can also get some money to start your Real Estate business.

It will make you far more money than you could ever imagine.  

5. Avoid Early Generosity 

Before you start dishing out money to people for free, you must do a proper analysis of your financial strengths. 

If a plant is harvested before it is matured, it will not survive again. This applies to your business. You must not cripple your business by being very generous at the teething stage of your business. 

Learn how to say no to some requests from you and you will be doing a lot of good to your business than any other thing. 

6. Continuous Learning Results in Regular Earning 

You need to be a consistent learner to be able to set yourself up for the success you so much desire. It's a good thing to always keep yourself updated on the industry trends so that you can have a strong knowledge when it comes to what is more profitable at a particular time.  

Things are changing at a quick pace, and if you are not prepared adequately, you will be left behind. 

Conclusion 

Becoming wealthy is anchored on a number of factors including those we have explained in this article. 

Wealth creation demands a lot of knowledge and pragmatic steps. You must be conscious of what you are trying to do and go all out there for it. 

It will be a big plus to you and your business. 

You need a whole deal of discipline and the flaming desire to get things done right. With even just these two, you will be able to be in a pole position to making so much for yourself.  

Thank you for reading this article up to this point. I hope you have learned a lot from it, and it will help you in creating wealth for yourself. 

Please share to your friends and family to also read and benefit from the knowledge we are sharing here. Thank you so much in advance. 

See you in the next article.