By Matata Mercy
Most people I know are highly focused on making money and accumulating wealth but very few if at all they are there, who look at the other side of the coin.
What do I mean?
All am saying is that most of us are focused on the path from rags to riches and we hardly look at the path from riches to rags.
In order to be in a position where we can be able to protect our wealth and time, we need to look at both sides of the equation.
In 1998, Paul Graham the founder of Viaweb and Ycombinator said that they sold their company called Viaweb to Yahoo inc. for $49million.
He said that all of a sudden he had a lot of money in his possession.
All along he was focused on the path from poor to rich and now he had to start worrying about how not to lose his money.
When i was still a kid, if someone asked me how rich people become poor.
I would easily give him the answer that looks obvious which is by spending all their money.
That is the stylish way of doing it that you can read about in the books and watch in the movies.
But this is not the most common way rich people lose their money although some people do.
If you did not just inherit that wealth or suddenly became rich by winning a lottery, then as you continue spending that money.
The alarm bells will ring in your brain and you will realise that you are losing your hard earned money.
The most common way rich people lose their money is through bad investments.
When you are buying stocks and shares, all your brain will be thinking is that you are investing.
Even if the stocks and shares are doing badly, it will be hard for the alarm bells to go.
Before you know it, you have spent a million dollars and no pain of losing that amount of money has been felt.
That is why the people selling things to you will tell you that the expensive things that you are buying like cars, houses and watches are investments.
They try to brainwash us that these are investments,which to me I highly doubt.
The same analogy applies to the way we waste our valuable time.
If I spend the whole day watching movies on television, I will feel very bad about myself.
It will appear to me like am wasting my life.
That means the alarms have been set off since this is an activity where am just having fun, enjoying myself and this is like part of our DNA as humans.
Another way we waste our time that is very hard for us to detect is engaging in work that looks to be productive but it is not.
If I spent my day checking through emails, it will feel like as if I have been working the whole day since going through emails is not fun and there for it must feel like work.
But at the end of the day,I will have done nothing.
In the modern world, there are complicated ways in which we can lose our time and wealth without even realising it.
In order to protect our time and wealth, we need to develop alarm systems to protect us from this complex world with social media and new industries that are emerging that we would love to invest in.
Good luck.
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