Your Greatest Asset Today May Not Be Your House…

Your greatest asset today may not be your house, your car, your stocks or real estate. Your greatest asset today could be your computer, the Internet and your BRAINS!

Yes, you read that correctly.

The subject of money and wealth is not new and there are numerous textbooks written about it. There are also many forums and discussions on the Internet dedicated to the topic. And since it’s such a hot subject, many myths also abound about the subject and it’s difficult to distinguish the truth from the myth.

For this reason it seemed appropriate for me also, to make a contribution by sharing my thoughts on this important subject, with a view to demystify the subject, and hopefully, arouse your interest.

It appears that one cannot discuss wealth without discussing money and vice versa. This seems to stem from the notion that one is considered wealthy if he or she has a lot of money.

Money itself is not wealth, but it symbolizes wealth and helps to place an economic value on the amount of wealth owned or controlled by an individual, an organization or a nation. Money is a means of exchange for goods, services and other assets. Although paper money itself forms only a fraction (less than 5%) of the wealth of any economy, it can be used to make economic judgment (net worth), on a particular individual, organization or a nation that has the money.

Generally, wealth means abundance, and an individual, an organization or a nation that has plenty of it, is considered economically wealthy.

It’s important to note that wealth is no longer being created through the traditional methods that emerged from the industrial age. The information age and the Internet are here with us, and new ways and possibilities are available for wealth creation to anyone who can access and take advantage of information.

Although assets are closely related to wealth, they don’t necessarily mean the same thing.

Wealth is the sum of all the assets owned or controlled by an individual, an organization or a nation.

An asset is an economic benefit that can create wealth. For example, a good employee is an asset to the company he or she works for. A machine is an asset in the sense that it can be used to produce a product that can be sold to generate money for the business. Money can also be a good asset if it is invested wisely to generate future wealth.

The terms riches and wealth mean the same thing, as they are both English nouns. Similarly, the terms rich and wealthy also mean the same things, as they are both English adjectives used to describe status. We will try to use these terms interchangeably throughout these articles, as we all know what they mean, and we’re not really interested in English grammar.

NB: Please pardon me if I confuse some English grammar while trying to explain something – my English is learned, not my mother tongue.

Ok, if you like, we will first classify money, land, homes, cars, properties, real estate, stocks, bonds, precious metals etc., as tangible or traditional type of wealth or assets. There are many other types of wealth or assets such as information, knowledge and wisdom, but we will discuss those later. These types of wealth or assets are generally known as either intangible wealth or intangible assets.

If you don’t understand any of these terms, don’t worry. Nobody does at first! You will understand them gradually as time goes…

Many cultures have held the common belief that people are destined by fate to be either rich or poor. This is merely a myth.

Many people wish they were rich – and that’s exactly why they’re not. The truth is that people really don’t WANT to be rich; they only wish. And that’s the difference. For centuries, people have been influenced by cultural and religious beliefs and traditions to believe that it’s ok to be poor. This is just a myth.

Before we continue, let’s clear this myth – God doesn’t want you to be poor!

“Whatever may be said in praise of poverty, the fact remains that it is not possible to live a really complete or successful life unless one is rich. No man can rise to his greatest possible height in talent or soul development unless he has plenty of money; for to unfold the soul and to develop talent he must have many things to use, and he cannot have these things unless he has money to buy them with.”
– Wallace D. Wattles, author, The Science of Getting Rich.

The fact is that people are not destined by fate or luck, to become either rich or poor but by their self-limiting beliefs and actions.

For centuries, the rich have practiced certain laws and principles to create wealth, which they have passed on from generation to generation. This is why some notable families in history e.g. The Carnegie family, The Rockefeller family or The Kennedy family, have remained wealthy for decades.

One could argue that some people get rich by inheriting wealth. That’s correct, but also remember that unless these people practice the laws and principles, it’s not possible for them to pass on wealth from generation to generation, no matter how much it is.

The truth is that anyone can be rich if they practice certain universal laws and principles and behave in a certain way. These universal laws work like any other universal laws such as the law of gravity, regardless of where they are applied or who applies them. There’s no discrimination and this is a fact. This is what the rich don’t want you to know.

The problem is that these laws and principles are not taught in any college or university.

God permitting, we’re going to try and uncover these secrets that the rich don’t want you to know, in this and forthcoming articles. We’re also going to discover and share new ways of thinking that have been used in modern times to create wealth, which have probably not yet been explored.

The Internet is one of the greatest inventions in history and a major stride for mankind since the dark ages. It has made it possible for anyone in the globe, rich or poor, black or white, young or old, big or small, anywhere on the globe to acquire any amount of knowledge one wishes to have, because most of it is free.

Knowledge is power… right? Wrong!

Knowledge is potential power. Actually, knowledge is static energy.

Thanks to the Internet, information is now available to anybody who cares to have it at little or no cost. Anyone can use this information, put it into practice and become extremely wealthy within a very short period of time.

For example, in 1930, it may have taken 30 years of hard work for someone to be rich. Now, with the Internet, it can take 2 years or less.

Consider this:

It took radio 33 years to reach 50,000,000 listeners.

It took television 13 years to reach 50,000,000 views.

It took the Internet less than 5 years to reach 50,000,000 users.

By the fall of 1997 there were 27 million computers connected to the World Wide Web.

By March of 1998 there were over 50 million computers connected to the Internet.

By the end of 2007 it is estimated that over 1 billion users will be using the Internet surfing, chatting, dating, downloading, buying, selling, trading, exchanging money, communicating, learning, researching and sharing knowledge of every conceivable form.

Did you know that our entire economy is run on computers and networks? As a matter of fact, all the money in the economy is transacted online via computers and networks.

There’s a way of thinking, a certain mindset and a pattern of thinking that attracts wealth. The rich have always practiced this “certain way”, whether intentionally or unawares. Until the emergence of the Internet, this practice has been largely unknown through study, although the subject itself has been written about in many textbooks, such as the best-selling book, Think and Grow Rich by Napoleon Hill, et-al. This is why there’s widespread skepticism regarding the subject.

A school of thought exists that believes that the acquisition of money and wealth is governed by certain scientific laws and principles, just like the law of gravity. These laws and principles work for anyone and that those who practice these laws and principles whether intentionally or unawares, get rich; while those who do not practice them, remain poor no matter how hard they work.

You can explore this topic further by reading a book called The Science of Getting Rich, by Wallace D. Wattles.

This way or pattern of thinking is the one that attracts wealth, just like a magnet attracts iron or another magnet. Thinking alone isn’t enough to attract wealth. It is the thinking in a particular way and putting this thinking into practice that actually attracts wealth.

Let’s start by examining the first thinking pattern.

First, you have to change your mindset. Yes, maybe you have heard this before from somewhere.

What’s a mindset?

It is a set of beliefs, values and traditions, practiced and passed on from generation to generation by our parents, teachers and society.

For example, have you ever heard people saying the following?

1) Money is a scarce resource.
2) The rich get richer and
3) The poor get poorer.
4) Money is the root of all evil. (The actual quote is “The love of money is the root of all evil”.)
5) The rich exploit the poor to get rich.
6) You cannot be rich unless you are very lucky.
7) There’s never enough money in the world.
8) Money is hard to get.
9) You have to work hard to get money.
10) Time is money
11) Money is not spiritual.
12) Never buy anything that you don’t need.

I’m sure you’ve heard countless statements and beliefs such as these from your parents, your friends, your teachers, your college professors, etc.

Why do you believe them? Are they true?

The truth is that you have chosen to believe them, although they may not necessarily be true.

Changing your view about such beliefs and traditions is actually the beginning of a long journey in the process to change your mindset.

The Chinese have a saying that a journey of a thousand miles begins with the first step.

We will continue with this discussion in forthcoming posts in this forum.

Your views and contributions are welcome.