How to create wealth as a Beginner

How to create wealth as a Beginner. So to move from high income to wealth. Yeah. And I'm telling you, I did not read any of this thing anywhere. Okay? Yeah. So where did you come from? It was just my lived experience. Okay. And as I started studying wealthy people, I started realizing that, oh wow, this is this is. Now to for you to transition from high income into wealth, you have to make uh four transitions. Okay. Yeah. The first transition is the most difficult one. What's that? Is the transition of your mindset. Okay. I agree with that 100%. Yes. It's the most For example, you have heard Robert Kiyosaki talk about the four quadrants, right? I'll come to that in just a moment. Um, but you've also heard him talk about the fact that, you know, you know, asset is something that puts money in your pocket. Liability is something that takes money out of your pocket. That was hard for me to wrap my head around. Keep in mind, you're talking to a CPA who has always defined an asset as your car is an asset, your house is an asset. And then this guy is like, no, your house is not an asset. I'm like, wait a minute. What are you talking about, right? So that mindset. Mindset to understand that you really don't know, so you need to learn. Okay. Yeah. You really do. Not know you need to learn. Okay, so another mindset is those who create wealth are comfortable with uncertainty. Very, very comfortable with uncertainty. Now not that they take blind risk, but there is something called deferred gratification. For example, we all talk about Elon Musk today. The first 13 years, he did not make $1 in revenue. Wow. Right? Wow. And he was not sure this electric vehicle was gonna work. Yeah, it kept going. Yeah. It kept going. See, that's another mindset. Okay. You should be comfortable with being able to defer gratification. Invest in something and you don't see the return immediately. Okay, you need to be able to do that. You need to be able to understand how to educate yourself. And when we talk about education, see, again, that is one of the biggest issues around mindset. See, the neuro part in our brain that deals with academics is quite different from the one that deals with wealth. Oh, it is? Yes. Okay. And Robert Kiyosaki, I've had the privilege of reading virtually all of his books. Okay. Yeah. Robert did an amazing job about describing this in one of his books. Okay. I mean, I heard you when you were talking about Rich Dad, Poor Dads, some of your recommendations. Yes, like that. So think about his poor dad versus his rich dads. His poor dad was very sound academically. Right. His rich dad was not that academically endowed. Right. But in the game of money, the poor, the rich dad knew how to really make wealth. Yes. So you will see that it it was so it's not academic knowledge. Yeah. Or academic credentials that will make wealth for you, right? The body of knowledge that creates wealth is very different. Mmm. Hey. Yes. So you need to understand that. So I have a message on YouTube. It's called 5 chronic 5 chronic symptoms of financial illiteracy. Oh, yes. Yeah. So in in in other words, if those things are present in your life, it doesn't matter whether you have a degree in business or a PhD in business, you're a you're a financial illiterate. Wow. Okay. Yeah. For me, I was a chronic financial illiterate at that point in time. So the mindset problem was to accept that I was a financial illiterate. Yes. But how can you describe a guy who has a first degree in finance? Mhm. He's been to three BA's, he's been to three business schools, right? He has, you know, he has like three accounting designation from. How can you say he's a financial elitist? That's true. Yeah. You understand? Yes. But I was. Well. I was. That's the first mindset. Because everything that I learnt up to then was how to work for money. Right. I was remember we just talked about I was building a corporate profile. Yes. I wanted to go to get up to the corporate ladder. There's nothing wrong with that. But you just need to know that that's not the path to wealth. So that mindset is the biggest one. Another thing about mindset is the ability to invest in yourself. Okay. Up until then, actually, everything I did my employer paid for it. Oh. So I was not used to the concept of go and pay for an online course to to teach me about how to make wealth. How, you know, I was not, you know. Yes. You know, but that mindset change. And if you know the amount of investment I've had to make in myself. Yeah. I have hired consultant upon consultant. Wealth consultant. Well. To teach me about some of those asset classes. Yeah. You know. And the first consultant who taught me. Okay. And that's where humility has to come in. Yes. Humility. Yeah. Especially as an African man. Absolutely. Yeah. Yeah. The guy did not make it through his first degree. Wow. Yeah, but that shouldn't surprise us. I mean, it's all over the place. You see school dropout changing the industry landscapes. Yes, we all know those stories. Yeah. Yeah. So that should tell you something about the fact that your academic knowledge is not the same thing as you know, the knowledge that will that will help you to create wealth. Right. So.