Early man lived in a far simpler economy where the bounty of a good harvest or a great hunting season was stored as excess body fat. This legacy creates the challenge of achieving optimal health for anyone who thinks of excess body fat as stored largess.
Today, modern man lives in a far more complex economy where the benefits of a good harvest, hunting season or efficient production can be stored in monetary terms to draw on in lean times. This system is so efficient that it is possible for someone to produce and save enough in a relatively short period of time and live well for the rest of their lives on those monetary resources. Better yet, it is possible to accumulate enough money that the owner of the money can live an economically secure life and possibly to create a permanent legacy of financial security for subsequent generations.
The pursuit of money in the absence of understanding the limitations and possibilities of what financial security can accomplish is a fools errand. Money is not the source of happiness or the root of evil; it is the tool that a wise person can utilize to accomplish good and achieve happiness.
You need to understand the basic formulae for financial security; everything is a matter of tradeoff.
- You can start with a lot of financial resources (money) in the beginning; that means that inheriting wealth is a great plan.
- You have to accumulate a lot of financial resources through your own efforts; a great career or business you own and control is a great plan.
- You can simply learn to live a more austere and simpler life; at the extreme homeless people don’t worry a lot about about financial security.
- You have to avoid jeopardizing or losing the financial resources you have; be careful about taking too much risk.
- You can earn a lot more or higher returns on the financial resources available to you; remember there is a trade-off between higher returns and higher risk.
So you need to figure out how to accumulate wealth and how to manage wealth. These are two closely related parts of achieving financial security. There are some skills and strategies that are common to both accumulating wealth and managing wealth.
Leadership is a critical competency of success and salesmanship is the practical application of leadership with the purpose of creating revenue, profits and wealth.
You can find a lot of ideas and guidance to help you achieve financial security in these pages.