This week, a survey showed that 180 more Kenyans had joined the ranks of the country’s dollar billionaires. The number of individuals with US$5 million (about Ksh 500 million) in net assets increased to 1,290 in 2017 from 1,110 in 2016, a growth rate of 16.2%, according to statistics provided by the Wealth-X for the Knight Frank Wealth Report 2018.
In total, there are 1,290 people, 90 of whom have a net worth of US$50 million (Ksh 5 billion). But less than ten are worth $500 million (Ksh 50 billion). The number of wealthy Kenyans with assets of at least $5 million is projected to increase by 60.5% over the next five years, to 2,070 in 2022, according to the research.
Every person fantasizes of one day having a lot of money. Artist 50 Cent made his debut in 2003 with the album Get rich or diè tryin’. I had to agree with him. Even if $50 million is not required to be considered wealthy, you should strive for it.
A dream like that will remain just that if the right frame of mind isn’t brought to it. Getting where you want to go isn’t going to happen if you’re just sitting around doing nothing.
One: Put money into yourself. Find new ways to better yourself. Improve yourself by spending time, effort, and resources on the endeavor. If you can put your money where your mouth is and help yourself out, it won’t be hard to help others.
2.Set up funds for old age. Put away a little bit of money every week to prepare for a time when you can no longer work. With this knowledge, you won’t have to rely on other people as much and, like an elderly person, you’ll be able to provide for your loved ones. On the other hand, if you have a job, you have a pension to fall back on.
Trip tip #3: Visit upscale hangouts. Get out and enjoy the finer things in life by checking out venues like golf courses, upscale bars, and five-star hotels. Because of the incentive to enjoy the luxuries only the wealthy can afford, this will fuel your drive to amass wealth rapidly. You’ll have a better understanding of the privileged class and their lifestyles and motivations.
4.Spending more time in the company of multimillionaires and billionaires can help mold you into the person you should be. People like this can provide as inspiration as well as a source of business insight and aid like introductions and transactions. You’ll pick up traits from your buddies that will push you to conform to their ways of thinking. You will start to notice a shift in the way you dress, conduct business, and generally feel better about yourself in the near future.
Don’t just spend money mindlessly like a rich person. If you want to get rich soon, you need to track and manage every cent. Unfortunately, some people do not keep track of their spending, so they have no idea where their money went. Reduce your frivolous spending and adopt a more frugal mindset. Motivating you to keep to a strict financial plan.
While looking for work, you can get a head start by starting a business in a niche market that no one else has entered. If you can attract enough customers, you’ll soon be wealthy beyond your wildest dreams.
Due to the internet’s ability to rapidly disseminate information to a large number of people, firms operating online can afford to pay generously. By promoting your wares on that platform, you can bring your company back from the brink of failure. There has been a recent uptick in the number of people going into business for themselves as a way to generate income quickly.
You can be a journalist and own a beauty parlor at the same time, for example, so long as you use the talents you’ve acquired in school or through God-given aptitude. This will serve as a fallback income stream in the event that your primary source of support suddenly disappears.
Most people don’t stay poor because they deliberately choose to, but rather because they are unaware of, or have been dissuaded from pursuing, the means of becoming wealthy. Therefore, having exhausted all other options, they do nothing but sit and hope for a miracle.
With these suggestions, hope can shine through for those who lack formal education but are otherwise qualified for the workforce.
