Personal finance, Personal musings, Global success. (Your Success curve won't go up if your finances are going down!)
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20 May 2015
THE GREATEST MONEY LIE EVER TOLD YOU- BECOMING RICH IS A ZERO-SUM GAME!
Someone else does not need to be poor for you to be rich!
In my public speaking on success, I tell people there is enough room at the top for everybody, and this is the example I use....
"If all the students of a high school class do what it takes to score 75 in their final Mathematics exams, they all will score A". [In West Africa (WAEC), we say A1 (A one is the highest grade)].
But do you know that there will be enough As left for all the students of the next class who all score 75 too?
It is a lie that there isn't enough (money, food, success, gold, silver, mineral resource, etc) to go round for everyone.
In fact, FAO states that in the world, there is enough food (being produced) to feed everyone, yet today, there are about 1 billion hungry people. [That is also why you will be fined in Germany, Switzerland, China and India if you go to a restaurant and waste the food YOU PAID FOR!]
The solution is in coming to understand and accept that food being willfully wasted in USA can and does result in a shortage in Nepal. Or is it, food not wasted in Germany, will feed someone in India?
Trading is a zero-sum game but personal finance isn't
While for those of us- traders- who trade Forex, Stocks, Options, Sports betting, and so on, the belief is that 'Trading is a zero-sum game' -THE MONEY MADE BY THE SUCCESSFUL TRADERS, IS THE ONE LOST BY THE NOVICES. And that is very true.
However, from my study on 'reducing Global Poverty,' and personal finance, I have found that the (personal) financial world isn't a 'zero-sum game'.
Yes, getting you comfortable in life, and successful, isn't a zero-sum game! You can be rich and successful, and so also your neighbors- everyone of them.
In other words, someone does not have to be poor for you to be rich (contrary to an infamous Yoruba saying- Ti teyan kan o ba baje, te lo mi o le da),
The Nigerian example
Look at my country Nigeria for instance.
In Nigeria, there is enough human capital, mineral, and other natural resources like good weather/lack of debilitating natural disasters for us to be one of the richest countries in the world. But what do we see- Nigeria is third in the World Bank poverty index.
Yet, Nigerians are some of the richest billionaires in the world because most of her resources have been stolen, mismanaged and distributed unfairly among citizens.
So does Nigeria need foreign aid? The true answer (as someone who has lived all his life in this country) is NO!
To reduce poverty, in Nigeria at least, we need a BALANCE! Balance of distribution of wealth, human capital and mineral resources. And that is largely true for the rest of the world.
To eradicate global poverty, we need more crowd-sourcing and funding, not foreign aids
What the world needs to eradicate global poverty is to achieve the right balance. Balance of distribution of food, wealth, and other resources. That is why web companies/communities like Wikipedia, Kickstarter, Lending Club (and other crowd-sourcing, community-sourcing, and crowdfunding sites) have become successful, even in different industries.
That is why the internet is so powerful a tool, for making money. The internet shows us that the true way to create a balance in resources in the world is by a network in which everyone contributes to it, for the good of every other person.
How Credicoins Network aims to disrupt the (financial and global poverty) world
While my company does not claim it will make everyone in our network become successful and rich, any more than you can make every high school student score an A in mathematics, what we intend doing is creating a network where anyone and everyone who plugs into it can accelerate their financial success in life. This, because they will be associating and networking with other minds with similar dreams and aspirations, on whose time, efforts and resources they will be leveraging to attain financial independence and freedom.
THE WISDOM IS IN THE CROWD. The crowd gives everyone a voice. The crowd helps everyone become someone. Without each person, the crowd is less. Without the crowd, each person is less....
But it all depends on you
It is a true saying that you can't make a poor person rich without changing his thoughts (and association and environment). While the government of a country can do so much, the bulk of the work lies with each individual, if he/she will become successful financially.
For example, if a person refuses to save at all (spending every single thing they earn), they will remain poor, no matter how much they earn, no matter where in the world they reside. That is a timeless principle of the earth. And that is the foundation of Credicoins Network.
Whether you succeed or not lies in your hand. Whether you go broke every month, or live rich is your choice, not the government's.
See you at the very top, because there is enough room there for everyone of us!
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