One of my financial mentors Deolu Akinyemi wrote this life transforming and taught provoking article which am sharing with you today. We have done this severally offline and i feel it’s important to share with my friends here. After reading contact me if you require any assistance.
Access yourself honestly
Use this test to assess yourself. Once you score yourself, you’ll be able to get the interpretations of the answers below. I have also added information showing what you can do once you know your result.
1. At the rate at which you are going, using what you have as savings and real assets as a basis, in how many years would you be able to raise 600m
3. Over 30yrs
4. None of these represents my answer.
Guide: Don’t deceive yourself. If you have saved N1,000,000 and have worked for 5yr, it will take you another 500years plus to get to 600m. It can be faster, but it’s safe to be modest. We can all get it quickly by a special stroke of favour or luck, don’t count on that.
2. How many Streams of income do you earn?
1. Over 5 Streams
2. 2 Streams
3. 1 Stream
4. No Income Stream
Guide: The number of streams of income you earn mean the different sources of income you have. Do you have a job, do you run a business by the side, do you have Real Estate e.t.c.
3. Which of these resources do you leverage to make more money
1. People force of over 500
2. People force of over 10 people
3. I exchange my time for money
4. None of the above
Guide: Some people earn by converting their time to money in a Job or as Entrepreneurs, some earn more money from putting a lot of money to work, usually over $300,000 and some have an organisation that has up to 500 committed staff working to achieve their set objectives.
4. Which of these terms describe best how you earn income
1. Passive Income, no activity.
2. Mostly Active Income, but some passive income from rentals, shares, businesses etc. (Don’t count if less than $200 a month)
3. Active income
4. I’m dependent on someone else
Guide: Passive income is income you earn residually without any present sweat or time. Active income is income that is a direct result of your use of your energy or your time.
Add your answers together and get your total scores. Then check your answers below. Try to be honest with yourself, if you are honest, then recovery is possible, if you are not, your current future can’t be helped.
Scores and their meanings.
Scores less than 5 – This means you are doing well and need no help, at this stage, you should be involved in helping others.
Scores between 6-8 – This means you need a coach, fast, you have potentials of making it. Before you choose a coach, ensure they model your future in more than one way. Ensure their finances and one or two areas of their lives align with your future. There is no point getting help for cancer only to end up getting AIDS.
Scores from 9 and above? This signals DANGER! You need urgent attention and must be willing to shut up listen and take action. Don’t got to your mentor with terms and conditions, whatever you are asked to do, so far it’s ethical and legitimate, do it. Learn for follow a system.
Solutions I am proffering
Scores less than 5 – I will like you to join me in a mentorship and coaching system, that allows us to help 1,000,000 families end up differently. If you have achieved success and progress by duplicable means, please reach out to me, we can do this together. If you however achieved success by a stroke of luck or unexplainable favour, no problem, it means you can’t tell us anything to follow as you didn’t follow anything yourself.
Scores between 6-8 – You need support, you need a system you can follow. Be rest assured that I can lead anybody to a place I have been before, and all that is required from anyone wanting to follow is not to re-invent my mistakes, but simply to follow in good faith, that by following they will get to the same destination. I’m putting together a system of mentorship that ensures that those I have taught can teach those who are just coming behind. The motivating phrase for our objective is love, and it doesn’t matter if your coach is younger or older than you, what matters is they are committed to your development and growth, and since it’s a system that allows me to watch a few people’s back, while they pay it forward to watch other people’s backs, we’ll all still be together.
Scores above 9 – You need to be rescued. No DEBATE. If you continue at this pace, you will find time ticking and your life advancing in the wrong direction. You need to STOP, humble yourself and submit yourself. Many of us like to get to the kings palace without getting through the servants quarters. What you need to do is schedule an appointment with me urgently, I can give you some small books to read, and the appointments can be set based on when you finish reading. Based on my ability and your readiness, we will meet and I’ll assign you a sponsor – someone who will be held accountable for your progress. If you are interested in enrolling for this process, you need to send me your email so I can send you a mail and get you the materials to read.
Whichever number you fall into however, you need to take a snapshot of your current financial position, I have a workbook that helps with that process. Knowing where you are, helps you know where next you need to be. Have no doubt as well, that we can all get from where we currently are, to anywhere in this world we’ll like to be.
Here is my little attempt to help in an area I know I can, and in my little way. I hope this makes all the difference in the world to someone’s financial future.