RETIRE IN TEN YEARS OR LESS Part 2

Now we shall consider the mentalities of the poor, middleclass and rich, and assets and liabilities in few words. You will find out if you have been thinking as the poor or middleclass. If you are thinking like the rich you will likely know it because you will know why you want to be rich, how rich you need to be (to accomplish your "why"), and how soon you will be rich.
THE MENTALITIES OF THE POOR, MIDDLECLASS AND RICH
The Poor
The poor spend on liabilities (or perishables), like food, clothes, shelter, vacations, parties, largesse, etc; and have no investment besides savings [in the bank and co-operative societies].
The poor favour job security. People who love job security want a lucrative job with excellent benefits. The problem with this is that they cannot be rich, neither can they retire. Should they resign, retire or be retrenched, their finances will nosedive because, they are the assets, and have no other investments; at least not assets that can sustain them without a job.
The Middleclass
The middleclass spend on liabilities and barely enough on worthwhile investments.
They may have beach houses, yachts, limousines, etc., but they cannot stay rich when they retire, neither can they retire early, as they are neck-deep in debt with mortgages.
But they can afford to retire, only that they won't be rich, and may never be, if they do not start increasing or improving their portfolios.
In other words, if they do not start acquiring assets or developing a multi-billion dollar business (like Coca-Cola, Google, Facebook, etc.), they won't be rich.

The middleclass favour financial security. They have a job and usually a small business, and do not invest actively.
The Rich
The rich spend more on assets, they shop more for assets, while the poor and middleclass shop more for groceries and all kinds of perishables and liabilities.
As Robert Kiyosaki, bestselling author of, Rich Dad, Poor Dad, puts it, "If you want to be rich, be a business owner and investor."

The rich favour financial freedom, so they keep acquiring businesses and investments.

Assets and Liabilities

An asset is anything that generates money enough to cater for its maintenance and to enrich you. E.g. a business, rental properties, stocks, commodities, 

On the other hand, a liability is anything that depreciates in value, or doesn't produce enough to cover its maintenance. E.g. the house you live in, whatever kind of house it is, as it isn't yielding rent or profit enough to cover its maintenance and to produce another like it.
Ultimately, an asset should be able to yield another one like it. So if you have a thriving business, you are on your way to owning a corporation, if you have your priorities right.
Other kinds of liabilities include: clothes, groceries, vacations, parties, mortgages taken for tuition, personal apartment or house, weddings, lottery, luxury items, etc.
Instead of taking a loan for any of the above, take a loan for a business or a rental property, or develop a business that requires what you have to get you where you want. Ultimately, take advantage of the internet, especially if you are starting from the scratch.
God bless you.

RETIRE IN TEN YEARS OR LESS Part1

THE POWER OF YOUR DESIRE
"...When desire has conceived, it gives birth..." JAMES 1:15a (NKJV).

The first step to getting anything is desire. If you never desire, you will never aspire, and would never acquire. Each of us has 24 hours daily, and individual talents. Some are handicap, but desire can help them develop a system that helps them overcome their handicap, thereby giving them equal chances as others.
No matter what fails, let your vision and drive never ebb away. Rather, let them keep waxing stronger by the day, as you keep acting on your plan, so that the process can transform you into what you should be becoming.
VISION
Vision here, is your mental picture for the future,  and as Bishop Oyedepo puts it, "Your mental picture, determines your actual future."
It takes an employee, an average of 30-40 years to prepare for retirement. Some never retire in the end, as they cannot afford to retire.
The problem is that they never had a mental picture of the kind of retirement they would love to have, or how quickly they would love it to be. And if they ever had, they weren't passionate or consistent.
When you want to jump across a gutter or ditch, you look at the very spot you want to land, and you land there, if you are not wavering in your mind. So also when playing soccer, for those that play, you are more likely to score a goal, if your eyes and feet are working together at the time you aim the net. In like manner, when driving, if you do not keep your eyes on where you are going, sooner your hands will follow, and you would stir the vehicle in that direction.
So, have a clear-cut vision, write it out and place it before you always, and all your actions will be to establish it. The beginning is always the hardest. If you stay tenacious, you will achieve it in the little time left, and would still be retiring in less than ten years from the time your money starts rushing in. And probably your kids would still be young. But most importantly, you will be financially free. I learnt that Abraham Lincoln once said, "If I had 6 hours to fell a tree, I would spend 4 sharpening my cutlass.
DRIVE
Your passion must be on top always, which is why you have to discover your passion. What talents do you have, and what needs would you like to meet in this world? What value do you want to create?
ACTION
Be motivated daily, and keep acting on, and improving your plan. Yet, you must learn to read numbers (a financial statement). You need financial literacy. Which we shall consider in one of the succeeding articles.
Let me recommend to you: "Rich Dad's 60 Minutes To Getting Rich" (DVD), and "Insight And Foresight: For All-Round Self-Development."
God bless you.