How to Become Truly Wealthy

How to Become Truly Wealthy

What does it mean to be truly wealthy? First and foremost, real wealth means not leveraging your assets against debts. The definition of wealth put forth by individuals like Robert Kiyosaki is, quite frankly, misleading. If your wealth is dependent on debts, can you truly call yourself wealthy?

Consider this: if you buy a candy bar for one dollar using borrowed money, do you really have wealth? Selling that candy bar won’t return you the full dollar since you now owe money. This situation is emblematic of Kiyosaki’s philosophy, where claims of owning multiple properties are often tied up with loans. The real owners of those assets? The banks.

Even if Kiyosaki owns some properties outright, those assets may be used as collateral for existing debts. This illustrates a critical point: many prominent figures, including Donald Trump, have mastered the art of using debt to project an image of wealth that misleads the public. This kind of ostentatious wealth is not what you should aspire to.

True wealth is characterized by freedom from debt and reliance on financial instruments. Unfortunately, traditional educational institutions often fail to teach the fundamentals of wealth creation. Instead, they focus on accounting and analysis through complex graphs, leaving graduates ill-prepared for real financial success. Their agenda? To keep you tethered to your 9-to-5 job, enriching themselves in the process.

Let’s dig deeper into this issue. Universities churn out countless degrees in fields with little market demand, like property development, without offering the necessary skills to succeed. A degree does not guarantee a job, especially when the graduate lacks practical experience and industry connections. Would you trust a freshly minted graduate to manage a significant development project? Likely not.

The reality is that universities often operate like businesses, profiting off the aspirations of students while failing to equip them for success. To be truly wealthy, you must maintain minimal debt, or ideally, none at all. If you find yourself in debt, it should be insignificant—an amount that won’t significantly impact your financial health.

Many believe that debt is necessary to fund business endeavors. This mindset can lead to failure. While some may experience initial success, a debt-driven foundation is inherently unstable. I’ve witnessed many individuals with this mentality falter, sometimes spectacularly, after years of apparent success. The simple truth is you cannot build real wealth on a foundation of debt.

If you weren’t born into wealth or have never achieved it, the first step is to shift your mindset. Embrace the journey of self-development. To manage wealth effectively, you must first accept the idea of wealth into your life and elevate your thinking.

At Strident News, we will continue to explore the concept of wealth in future articles. If you found this piece insightful, please consider donating to Strident News, so we can continue to provide valuable wealth management tips.