The idea of building up wealth is not child's play. One would need to roll up his sleeve to be able to do that. Wealth creation is one thing that everybody has heard but only few run with it. What people do is just to earn a living. Many factors could be responsible for this.
However, I would take time to consider some things that may help individuals create wealth and put to work what they had left idle without knowing what they stand to lose.
Here, I would take a cursory look at some areas where wealth can be created.
Land as a fixed factor of production. Getting a piece of land may not be easy. But one good thing is that th3 value of land never depreciates. There is no wear and tear for land like it is for assets like machines or vehicles and other factors of production.
Hence, an investment in landed property all over the world is one of such lucrative aspects of wealth creation. Those who take professional steps to be involved in selling and buying of properties are called Realtors.
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These sets of people go around the world to create wealth that would last even if they are no more.
You may not go to other countries to do this. Starting with your immediate environs could work too.
Some years ago, a plot of land (60' by 120') cost only $300. After a few years, the same piece of land now goes for as high as $7,000 and the least goes for $5,000.
Everyone who wants to create wealth should look towards real estate. Fortunately, in some nations around the world, real estate has not become a great deal, an investment into real estate in such places can create a large kind of wealth.
To begin in the real estate sector, one can take a bold step by engaging in small ventures of renting out shops to apartments as a caretaker or agent. And before one knows it, he becomes an authority in this and creates wealth.
To conceive an idea is not enough to make wealth. To birth, the idea is greater. Hence, whatever you have in mind to do as a business, do not hesitate to begin as soon as possible. Many proud business owners of the day started very small and with time, the business became the talk of the town because it has grown big and even employed more hands. This is one way to create wealth.
You do not have to start big too. Selling charcoal for instance has made a large turnover for some women in Lagos, Nigeria. When many firms were retrenching their workers, they sought themselves out by engaging themselves profitably.
One of those women now supplies charcoal to some expatriate who in turn loads a cargo and makes export to Canada.
There is no limit to which you can be an entrepreneur. A lot of businesses survive first by giving it a try. Kindly ensure that whatever you want to go into is what you have a knack for.
Doing some extra jobs can give you an edge in creating wealth. A civil servant for instance could do blogging as a side job. As a teacher, I find it tender to engage in writing fictional, and sometimes, I dabble into writing blogs on finance in the #Leofinance front end of the blockchain where I intend to sell an idea and thereby end through it.
A farmer too, as simple as that may sound can create more wealth by engaging in multiple agricultural ventures. Keeping livestock is one way to go If one would like to make an impact on wealth creation.
Sometimes, it is not necessary that spends so much to begin the idea.
As low as one income may be, it could be turned into wealth. The propensity to save is equal to the ability to increase wealth.
It is not difficult to save, what is difficult is to imbibe the culture to keep what is saved intact.
Sometimes, for one not to touch what has been saved up, he may choose to save in a scheme where withdrawal is difficult or come with an extra payment. In order words, one may partner with a thrift society to keep his or her money saved.
Maitree Rimthong
Wealth creation overtime has been considered a huge investment that would result in a large turnover of profit. But beyond that, our small investment may turn out to yield more than we can ever imagine and there, wealth is created.
