You don’t have to hurry to accumulate wealth

You don’t have to hurry to accumulate wealth

There are things you are supposed to achieve after hard work over a long period of time of say five to 30 years. Things like wealth accumulation must be made systematically. That way, you establish a strong foundation to sustain your wealth.

Don’t expect to become rich overnight. Whether you inherit or win a lottery, if you lack business acumen, it is unlikely that you can make better use of your new acquired wealth. Remember the case of bad black of Uganda? She got over US $5m and almost got mad. She had no idea of how to use the money to accumulate more wealth with it through smart investments, strategic thinking and hard work. Instead, she went into the business of buying people booze until the money got finished. She even went to jail after that!

Expect to become rich after working smart, and consistently. The big test is: is your source of wealth ethical? Are you accumulating wealth through legal business deals? Can you put your face behind your successes and explain to any body how you make your money without fear or hiding?

As they say, easy come, easy go. If you make money easily for example through fraud and corrupt tendencies, it is likely to disappear easily. The unfortunate thing is that wealth accumulated in bad ways usually disappears when you need it most.

New university graduates and fresh employees are some of the biggest culprits

Research done by the Association of Certified Fraud Examiners (ACFE.com) reveals that over 80% of white-collar fraud is committed by first time offenders, mostly those aged between 25 – 38 years. Many of these people are fresh graduates or high rising employees who want to live expensive life styles.  They want to compare with their mid-aged counterparts aged 40-67 years who are usually C level senior employees and highly paid.

If you are doing the right things. You are working hard. Don’t hurry to make money. Just keep fit. Read great books and blogs and reinvent yourself. Money will naturally come.

I wish you success. Remember to do ethical things. Your integrity is not for sale. That is the heading for my next blog. See you then.

© Mustapha B Mugisa, CFE. Your Success Partner. All rights reserved.

 

About M. B. Mugisa

Mustapha Barnabas Mugisa is one of those rare people who provides business consulting and advisory to professionals and corporate entities who demand the very best. He is a prolific speaker and governance (strategy and risk) expert. His speaking involves making key notes at major conferences and business events on both technical subjects and leadership skills. A change agent and motivational speaker. Mustapha provides tools and proven methodologies to remarkable results through making people appreciate change. Visit Mustapha's LinkedIn profile to know more. Mustapha is the architect of #WinningMindset Leadership and #WinningTheGame strategy approach that combines Harvard Business strategy Playing To Win, with the Blue Ocean Strategy and Balanced Score Card to deliver a strategy that is easy to execute and monitor. Visit www.mustaphamugisa.com for special insights to improve your condition. Are you too good to be great?

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