Thou Shalt Build Wealth Part II (C) 2013 by Wayne D. Lewis, Sr.

From the blog: The Coveted Commandment[1] ©2013 by Wayne D. Lewis, Sr.

(continues)

 

 

For many of us, who have only broken 1 or 2 of the longest standing of the commandments, we need a commandment that instructs us to do one more thing, and that is, to build wealth. We need a commandment that says if you save your money, that you will be better off in one year, 5 years or 20 years. Why? Because too many of us are homeless, and yet there is no rush to save us. Those of us who are homeless have all but given up on building a better life. For many of us, we are on our own.

We need a commandment that cuts down on those of us who spend more time looking for a job, rather than building business partnerships, or sole proprietorships. We need a commandment that encourages us to learn to read the stock market results daily, so that we are aware of how money is bought and sold.

We need a commandment that inspires us to become as much generators and producers of greater of wealth, than many of us who are proned to be consumers. For with such a commandment, more of us will wield the power necessary to call our own destinies. With this commandment, we will see our destinies fulfilled successfully in our mansions, in our fine vehicles, by the success of our children, and in our later years, where we won’t have to worry about how we will survive.

The Coveted Commandment: Thou Shalt Build Wealth-

An Overview

• What is the purpose of the Coveted Commandment? The purpose is to focus on our total financial well-being.
• How important is this? Well, as we can see, for those of us who go to work everyday, and work to take care of our families, we can never be sure that we will always have a job. We can never be sure that we will always be able to get up and go to work. It’s just not realistic that there will always be a paycheck coming into our bank accounts. Why? Because things happen. From getting sick to laid off, to companies that buy and sell and terminate their employees, nothing is guaranteed.
• How is the Coveted Commandment used? Or, How do you use a Commandment? If you will forgive me, I will answer a question with a question: How does one motivate one’s self to go to work? “How do you put your money in your pocket?” For too long, we focus on paying everybody else. For too long we not only focus on paying everybody else first, but we often put us last, as does everyone else. The Coveted Commandment seeks to put you first. It’s time you become your creditor. It’s time you become your investment, so that for once, or like never before, you get paid, and others have to wait on you.
• When does it apply? The Coveted Commandment applies right now. On so many levels, we have to look at our selfworth, and determine how we can increase our networth. We’ll discuss that later, but let’s just do something right now. If you have a checking account, please pull out a check and write our a check to yourself for $50.00. Put it in your wallet or purse. Do not cash it or deposit until further notice.
• Who should follow the Coveted Commandment? Well, who shouldn’t follow it? I can’t imagine one person who doesn’t want to be financially well-off. I can’t imagine what else would anyone else do, if presented with the opportunity to invest in themselves.
• How much does it cost to invest in the Coveted Commandment? That’s a good question. You know, nothing is free. And you have to imagine that in order for us to gain financial success, we must be willing to pay something for the price of financial success and freedom. Granted, many of us are living paycheck to paycheck. Many of us have debts equal to the houses that we live in, and then the house itself. Too often someone is trying to sell us something, and after awhile, we just don’t want to hear anything else about buying something else. Wouldn’t it be great if someone would give you money for a change, instead of trying to get money out of you? Well, someone is trying to put money in your pocket. Who? I’ll tell you shortly.
• Why now? “Why not now?” If you had started reading this passage from the beginning, I spoke to you about the signs that I had seen as I was driving around the city of New Orleans. I am sure those signs are in other major cities, directing residents on the 7^th or 8^th commandment. “Thou shalt not kill”. I found it interesting that this sign was the most prevalent if not the only sign of the commandments that were placed in yards, on the side of homes, or even on big billboards. “Thou shalt not kill”. What particularly caught my attention is that several of these signs were spotted outside of the areas known for high crime, homicides, or murders. It seems that the well-to-do neighborhoods were starting to sport these signs as well. It was then I realized that something was different. “Thou shalt not kill” was going upscale. To me, murders and homicides are getting too close to those who otherwise secure regarding their surroundings, where murders, robberies and the like were a rarity. But the message is wrong. To me, the message of “Thou shalt not kill” is wrong uptown! It’s wrong downtown! It is the wrong message to focus on, when we all are trying to develop our financial well-being. The message should be simply this: THOU SHALT BUILD WEALTH.
• Consequences-As with the 10 Commandments, there is a consequence for failure to adhere to this particular Commandment. The penalty, as it were, is equal to or greater than the failure to take pro-active steps to build personal wealth for you and your family. Call it a self-imposed penalty, because if you do nothing, nothing will happen to you, let alone for you. This is a commandment that if coveted, and if adhered to, is it’s own reward.
• What should the outcome be? The outcome should be that everyone can and should invest not only in their communities, in their families, and most importantly, in themselves. All other commandments notwithstanding, the Coveted Commandment compels us to take our hard-earned money, and put it into our pockets-first. Whether our pockets constitute a bank, a credit union, a CD, gold, silver, insurance, stocks, or real estate investments, the Coveted Commandment is the commandment for all to follow. The Coveted Commandment encourages us to pool our resources and build wealth. The Coveted Commandment directs us to invest-grow our wealth, re-invest, grow our wealth, and continue until we will have reached our goals of financial stability.
• When do we begin? Remember that $50.00 check I asked you to write? It’s yours. Do with it whatever you desire, as long as it meets the dynamics of investing in yourself, where you are growing your wealth, and re-investing in yourself, until you achieve a goal suitable for you to stand on your on.

The Coveted Commandment does not re-invent the wheel for investing in ourselves. But it opens the door to new ways of seeing how important we are to not only our families, or our communities, but also to ourselves. No doubt, we will each work hard to make a great living for our families and communities, but unless we take care of ourselves first, we will only be on the outside looking in. And that’s not where we want to be. That $50.00 check that I asked you to write out earlier? That is your $50.00, don’t ever say that you didn’t give yourself something. Now, how you use that $50.00 will determine not only your self-worth, but your net worth. That $50.00 needs to take on a life of its own, and here is how.

Make a list of 5 things that you could do with your $50.00 that could possibly increase your net worth. As a suggestion, you can start your list off with buying lottery tickets; and you can end it with buying shares of stock. But, you shouldn’t put it back in the bank, or pay off a bill. Think outside of box, and see how you can grow your $50.00. We will discuss in detail as we continue this wealth building activity.

Here is wishing all of you a tremendously successful and Happy New Year, and I look forward to speaking to you soon regarding the Coveted Commandment. Remember, Thou Shalt Build Wealth. Best wishes.