Carpentry is a very noble profession. The carpenter plays a very important role in our society because they help us build a good and comfortable shelter. I couldn’t imagine a society without these humble carpenters.
Building wealth is just the same is carpentry. Financial advisers are like the carpenters. They will help you build that solid foundation to your wealth.
Now, let’s pretend that I am your financial adviser. I am here to show you some tips on how to start building your wealth.
Let us begin.
First, we need to know the meaning of wealth. The word is defined in the dictionary in several ways. Every person has his own idea of wealth. My idea might be a lot different from yours. That is why it is important that we have a common understanding of this concept.
What is wealth? For me, wealth does not only involve money. It can be anything that is valuable to a person. As in the bible, it is like a treasure hidden in a field.
What is a treasure? A treasure is a collection of precious things. It can be money, gold, a piece of land, an estate, a business venture or even persons.
Remember that old saying: whoever finds a faithful friend, finds a treasure. That clearly defines what a treasure is. It is something valuable that we hold close to our hearts.
Before you begin building your wealth, ask yourself: where is my treasure? Finding your treasure will lead you to the place where you will lay the foundation for building your wealth. It is the same with building a house. You need to get the location where you can lay the cornerstones.
When you have found your treasure, it’s time to start digging. You need to dig deep if you want to build a strong, solid foundation for your wealth. You need to know your responsibilities towards your treasure.
Once you have identified your responsibilities, it’s time to start building. This is where the money comes in. You will realize that there is a reciprocal relationship between money and your responsibilities. You start building your wealth by accumulating all the money you can get. As you begin to raise the money you need, your responsibilities eventually go down. This is called the X-curve concept.
The X-curve concept is simply a financial term used to describe the relationship between your money and your responsibilities in life. It is important to understand this concept if you want to achieve financial freedom and independence.