Socien's Blog

In modern terms, wealth is money. Wealth is money in one’s possession and abundance. Wealth is the ability to provide proof that you are wealthy (even if you are not). There is nothing wrong with how you define it. What is wrong is what we have been taught about it. This piece will dig into the things we have been taught and those we have not been, providing you with the reasons why we have been taught so. Enjoy it.

1. Wealth is created

That wealth is created is never taught to us. The process of creating something involves nothingness as an input, and in this case, zero wealth. Primitive capital that does not qualify among the formal structures of modernity like banks, stocks and loans, or whatever they call them, is the main capital here. Patience is how such capital is invited.

At the start wealth creators certainly have their limited means of financing their cheapest possible business ideas that lead them to profits. Such ideas are just a hustle designed to finance what lies ahead. This makes a shoe shiner who is a wealth creator a visionary while another shoe shiner is not.

For shoe shining proceeds to finance the next bigger idea (idea B) which requires something in the lower thousands or less range, a lot of sacrifice on personal expenses is done. Failures are rife. And each is felt hard as it happens in the backdrop of limited capital. Regrouping for the next attempt after failure takes even more time. But failure is an opportunity to learn.

Once idea B becomes a success it is either expanded or used as a source of capital for a bigger idea ahead of it. Wealth creators who left standing companies include:

• Luis Vuitton, was homeless by the age of thirteen but even those who buy garments of his famous name chose to never Google search about his history. We can blame the education system on this one. Why was I only taught about soft figures like Mother Theresa? A mixture of both would have been ok.
• Samsung’s founder whose early successful attempts are said to have required $25 in 1938 which is 470+ in 2021 in case you don’t speak 1930s.
  By staying out of jobs and dropping out of Colleges wealth creators monopolise their time on planet Earth to themselves and their ideas.

2. Wealth is accumulated or acquired

This is what the business school teaches, and the whole formal education along with it. This narrative does not cover an Irish immigrant who would conquer the American steel industry without any formal educational background. This narrative if followed by citizens of the third world is a toxin to their development because primitive capital is much more readily available where there is a lack of wealth (that is wealth as defined in the introduction). The education system is quick to forget about such immigrants because not forgetting them distorts the narrative that their Professors are the real deal.

Acquiring means I go out and buy cheaply such items like real estate properties. I then develop them or not and sell them at profit and that becomes accumulation. Repeating this process of acquiring and accumulating is a proven means of ending up with wealth but just as they say, “it takes money to make more money”.

The Business School way leaves a lot in the disqualification zone. The capital required for this accumulation and acquisition to work is just massive. Even if you are to involve a bank, the bank gives you one chance to try and come back with their share of your profits. Yet wealth creators seamlessly keep on trying until their business ideas are selling and producing profits.

3. Wealth is distributed

It is believed that by simply distributing the wealth in the hands of the rich we can make everyone rich. Sons and daughters fight for their parents’ fortune or get it without a tussle. Inheritance is a sure way of getting rich.

A revolution in a country also provides another stage of grabbing chunks of wealth from the upper classes. Governments have been encouraging this for centuries or even participating in full combat as champions of their citizens.
Some wealth figures have been generous to such an extent of buying anything and whatnot for the community. Oprah Winfrey and company will sure tell us something about this. The results advise: “Do not give people money. Give them the means to make it.”

The malfunction in the distribution button is it corrupts the mind of the recipient. The chances of getting rich by simply getting it free are one in a million. It is like winning a lottery. Fans of distribution are aware of this, so they love to rally for connections as a path to wealth.

4. Maintaining wealth

Mike Tyson amassed a wealth of around 400 million in his career (any references to people dead or alive are coincidental). People in sports struggle with their maintenance department of wealth.

Since you are not going to stay forever active you will have to retire with proper backing in the bank account, but mostly in an active business. Professional decline for people in sports comes very early (save for golf and a few others) when compared to those of others who do not have to put much muscle into what they do. But everyone who gets rich must be calm and maintain. Expensive fashion brands won’t add any value to our lives.

5. False wealth an enemy to true wealth.

This goes to moving along the hype that you are certainly above your competition and you should maintain the exterior layer that says that. People prefer to cover their visible poverty leaving their true invisible cover unattended. Expensive clothing, cars and so forth do not only help to cover that visible poverty but it creates a new layer of proof that wealth is certainly not in short supply.

True wealth is not only wealth but a philosophy that accompanies it for generations. New wealth lacks that philosophy. The worst part is new wealth is caught up with the new hype of modern media which no longer require a journalist to publicise but a phone and social media accounts. The urge to produce proof of wealth is there than ever before. Luxury now plays a publicity function at a scale it never did before.

6. The education system is a scheme of fooling you about wealth

I don’t have any obligation to say this in a less offending way. There is this compartmentalization. There is certain stuff that is never taught to us, for example, the fact that wealth can also be created. The grand scheme is to make all of us graduates middle-class people because the social class pyramid will never balance if we all master the art of wealth creation and rise to the top. Someone must be employed for the employee to exist as there must be prey for the predator to survive and prevail. For that scheme to work a catch-them-young approach is used.

But this compartmentalization pill hit hard poor countries.

What the question “What do you want to do when you grow up” is all about? Are you expected to tell your teacher that you wish to be a boss? (I tried and I was beaten by my then-class teacher who happened to be my grandfather, in 2003 when I was eight. Say, doctor or nurse, grandpa promoted). This question alone and the answers designed for it come at a phase when the kid is catching things fast and is yet to develop a critical mind is bad. Some say the kid at this phase plays and does not record at this phase of life.

So, once job and salary mentality is printed in the mind of the youngster, later attempts to rub it off will not succeed to rub. The government of my country introduced what the call Education 5.0. As we were about to accomplish our College degrees. We were put into groups, come up with business ideas relating to mining and farming and a few selected option. But was all of this going to succeed impeaching the job and salary mindset in us?