Freciprocal:


1. Physical wealth ( health)
2. Time wealth (freedom)
3. Social wealth (status)

Money is already a given if you have the above three. I might not be financially wealthy, but I have the top 3 that money can't buy.

I would be able to meet my needs. I might not be financially wealthy or rich but I would definitely be contented.

Freciprocal:


1. Physical wealth ( health)
2. Time wealth (freedom)
3. Social wealth (status)

Money is already a given if you have the above three. I might not be financially wealthy, but I have the top 3 that money can't buy.

I would be able to meet my needs. I might not be financially wealthy or rich but I would definitely be contented.

Freciprocal:


1. Physical wealth ( health)
2. Time wealth (freedom)
3. Social wealth (status)

Money is already a given if you have the above three. I might not be financially wealthy, but I have the top 3 that money can't buy.

I would be able to meet my needs. I might not be financially wealthy or rich but I would definitely be contented.

emmanuelewumi:


People have gone broke trying to achieve social wealth.


All you have listed will make you to have respect, admiration from people.


Why do people live above their means?

Many years ago a colleague came to me to get a loan, which was less than a week after we were paid our salary. I asked him why was he so broke, he said he made a pledge to his religious organization.

Who does that, you made a pledge now you can't afford to fuel your car or pay your transport fare to work.

I guess the guy needed to up his status in his religious organization, he needed position in the organization, he craved the respect and praises from his religious leaders.


If I may ask you out of the following types of wealth and you are asked to choose just 3, which ones will you choose.

1. Financial wealth ( money)

2. Time wealth (freedom)

3. Social wealth (status)

4. Physical wealth ( health)

ositadima1:


Financial wealth gives you Time wealth, except you want to live a very minimalist lifestyle.

Again, Financial wealth ensures Physical wealth in most cases, except you are under 25 or blessed with good genetics.

Social wealth is neither good nor bad, Osama Bin laden had social wealth among his many followers.

In today's world Financial wealth is all you need, one ring to rule them all.

emmanuelewumi:



Depends on the source of the financial wealth. Financial wealth does not give Time wealth ( freedom).

But if 70% and above of your financial wealth is from your investment income or passive income, meaning you are making money while sleeping then you have time wealth.


The Nigerian CEO who earns N400 million per annum without passive income don't have Time wealth (freedom). He must work 365 days in a year.

The shareholder who earns N100 million as dividends has Time wealth compared to the CEO

emmanuelewumi:
Obj was diagnosed of diabetes about 43 years ago, Baba is now over 80.

ositadima1:


I disagree with you, a wealthy individual has choices, he can decide to quit a job or endeavor. If you are stock to your job or income source that demands time your are not wealthy or financial independent.

emmanuelewumi:



N300 million from salary does not make you a wealthy person, you are only rich unless you are using it create passive income.

If you are not making money while sleeping you are not wealthy, you are only financially okay or rich.

The difference between a rich man and a wealthy man, is that a rich man must continue to work or hustle to maintain his life style while a wealthy man will continue to maintain his life style even if he is not working and he also has freedom.

The children of the CEO that doesn't have passive income can't inherit the big salary of their father, while the children and grandchildren of the shareholder with a dividend income of over N100 million will continue to enjoy the investment income from their father's legacy

Tobex4realTobex234:


Don't know your profession and I don't care. But people earn 80k USD in Nigeria though. They are usually remote workers working for companies abroad.

emmanuelewumi:



How possible you don't have money and you want to have Time wealth (freedom).

Go to Ikoyi club now, don't be surprised to see people playing tennis now. That is called freedom.


I had an Uncle who was diagnosed of high blood pressure and diabetes at the age of 40, but lived for another 39 years. Died at 79, that is what financial wealth can do for you

emmanuelewumi:
The two most important reasons why we are hustling is because of financial wealth (money) and time wealth ( freedom).

If we have both money and freedom, every other things should fall in place.


What is the essence of just physical wealth (health) and social wealth (status), without freedom and money.

In no time the healthy person that does not have freedom, will soon have ill health due to stress, overworking, lack of finance

ositadima1:


So? What is ur point then? Statistically, it is far easier to travel abroad and establish than getting those kind of Jobs.

Last bullet, what is the percentage of Nigerians that earn 94 mil naira per year? See ur head.

Freciprocal:


Inheritance

emmanuelewumi:



N300 million from salary does not make you a wealthy person, you are only rich unless you are using it create passive income.

If you are not making money while sleeping you are not wealthy, you are only financially okay or rich.

The difference between a rich man and a wealthy man, is that a rich man must continue to work or hustle to maintain his life style while a wealthy man will continue to maintain his life style even if he is not working and he also has freedom.

The children of the CEO that doesn't have passive income can't inherit the big salary of their father, while the children and grandchildren of the shareholder with a dividend income of over N100 million will continue to enjoy the investment income from their father's legacy

Freciprocal:


Inheritance

emmanuelewumi:



Don't ever rely on an inheritance, lottery and handouts from people that is the easiest to become poor and lose your respect.

Income from my inheritance are all reinvested, it is 50% the cash flow from the reinvested fund that I spend.

emmanuelewumi:



If you are lucky to have an inheritance, you should be responsible to live a bigger legacy and inheritance for your own progeny

Lazyyouth4u:


Some people actually enjoy what they do for a living and wouldn’t mind working until they die. They don’t need any freedom to be going to ikoyi club to play tennis every morning. Trust me, it gets very boring after a while.

Some people have high paying jobs they enjoy that come with job security. They don’t need passive income to be happy. They make good money at jobs that come with great retirement benefits.

Not everyone wants to keep an inheritance for their children. These days, the wealthiest people are giving away all their wealth. They don’t believe in spoiling their kids with generational wealth. Bill Gates, Warren Buffet, Jackie Chan, Ashton Kutcher, Mark Zuckerberg and many more are giving away their wealth.

At the end of the day, na ‘to each his own’

emmanuelewumi:



If they enjoy the job so much, they can decide to work for free.


You heard of the retired doctor in Borno, that stayed in Maiduguri and continue to render his services free to the poor that is his own way of giving back to the poor.


We have a lot of jobless people in the country, we need to learn how to leave when the ovation is loudest and create opportunities for the young generation.


In most cases behind that fallacy of I am enjoying what I am doing and I will work till I die, there is someone who has not invested well, made preparation for the unexpected and made adequate plans for retirement and old age


If the doctors tells him to go on bed rest for 2 years because of ill health, he can't afford to do so because their is no passive income to sustain him

Lazyyouth4u:


I don’t agree with you. Look at Warren Buffet. He continues to work and make money at his old age. Steve Jobs with all his money worked until the day he died. Even in Naija, Dangote, Tony, Jim and co have made enough money but continue to work because they enjoy what they do.

Not everyone’s goal is early retirement. Different people with different goals.

emmanuelewumi:



The people listed don't resume at work at 8am and close at 5pm, they don't work 365 days a year.


They all have passive incomes that are multiple of their active income.


Dangote's salary and allowance as the chairman of Dangote Cement is N60 million, but got over N200 billion as dividends.


Warren Buffet salary is $100,000 but earned billions of dollars as passive income

These are Investors and entrepreneurs, they are creating jobs and income opportunities for people.


You can't compare them to a CEO that doesn't not have a business that employs 40 people, Investments that creates passive income and he is telling you that he enjoys what he is doing.


To the super rich closing deals and making more money from the deals give them orgasms

Lazyyouth4u:


There are people working 9 to 5 in multinationals, finance, international orgs and so on. They are pulling in 6 figures in USD salaries and enjoy what they do. Their earnings are stable and they have job security. They will continue to make their great salaries that are much higher than the passive incomes of most Nigerians. They enjoy their jobs as well and their retirement benefits are way higher than what most Nigerians can ever invest.

Should they resign and start dealing with the stress of investments when they have jobs that pay them much more? Just curious.

By the way, the likes of Dangote and co you have mentioned are getting their non salary income from their businesses not investments. That is work in my opinion.

emmanuelewumi:



N300 million from salary does not make you a wealthy person, you are only rich unless you are using it create passive income.

If you are not making money while sleeping you are not wealthy, you are only financially okay or rich.

The difference between a rich man and a wealthy man, is that a rich man must continue to work or hustle to maintain his life style while a wealthy man will continue to maintain his life style even if he is not working and he also has freedom.

The children of the CEO that doesn't have passive income can't inherit the big salary of their father, while the children and grandchildren of the shareholder with a dividend income of over N100 million will continue to enjoy the investment income from their father's legacy

Damolux01:
Will there be auction this week? When was the last one held please?

Macktaob:

So, say for example: A earns 400m in a month with no passive income but saves 300m = 3.6b a year

B earns 100m a month, saves only 20m due to 50m investments gradually with passive return of 60m = 80m monthly inflow = 960m a year.

You'd still consider the passive income earner which is B in this case the wealthy?

You still feel B's kids would be more fortunate at both's death period if their demise coincides same time frame?

emmanuelewumi:



N3.6 billion will earn how much in interest in a year?


When he stops working how long can he survive on the N3.6 billion, if he can survive on it till eternity he has done well for himself.


It has to do with how much you make in your sleep ie without lifting a finger and what percentage of it you spend.


And can this cash flow sustain you forever, if you can't work again due to age or ill health. Can this passive income continue to flow even when we are dead