Wealth (old English) from weal – Well-being,” O.E. wela wealth,” in late O.E. also welfare, well-being,” from W.Gmc. *welon, from PIE base *wel- to wish, will” (see will (v.)). Related to well (adv.). – Online Etymology Dictionary, 2001 Douglas Harper
Given my new found focus, clarity, and vision, as touched upon in my recent post An Epiphany of Wealth and Prosperity, I have recently developed a system for building what I have labeled True Wealth” (copywrite, trademark, and patent pending, all rights reserved… lol) that I will feature in a series of posts dealing with the separate tenants of this new system. It’s called The Wealth Accelerator Strategy�.
I have come to realize that my core beliefs about economics, finance, capitalism, business, money, consumerism, and the like, are all contrary to how our world functions today. Now, the questions to ask are rather simple; Does that make the Worlds” way of functioning wrong?, Are those who make their livelihoods through this way of functioning, bad for doing so?, Are you an anarchist?
The simple answers to these three questions are no, no, & NO!
You see, fist of all, it’s not the way of functioning itself as much as what the inevitable outcome is sure to be, but more on that later. Also, the people who have to make their livings in this functional system may know of no other way. Even if they both enjoyed and preferred it, they themselves may not necessarily be a bad person, it’s simply their choice, and, they are free to choose. And, finally, I too am free to choose the direction in which I want to steer my life… I have no desires to cause an upheaval of anything… It will be what it will be, and I will be me.
Now, that put aside, let’s touch upon these laws” of true wealth” and the contrasting general world views. Note: this is not for everyone, nor do I expect anyone to agree, this is simply a difference of opinion.
The 7 Immutable Laws of Building True Wealth”
1) Seek God’s Kingdom
2) The Road to True Wealth” Begins at Home�
3) Real Money is Gold & Silver Coin
4) Live Debt Free
5) Live Simply
6) Be Generous
7) Exchange Paper Money for Real Assets
While these Laws” as I call them, seem to be rather straight forward and self explanatory, we will be gin to explore the individual tenants themselves in upcoming posts. But for now, I will give a topical sneak peek” as it were into each.
Seek God’s Kingdom
But seek first his kingdom and his righteousness, and all these things will be given to you as well. Matt 6:33 NIV
Everyone (for the most part) agrees that there is more to life that Money, Fame, & Power. The difference only comes into play concerning what is the most important thing, and if or who is the Supreme Creator(s). For me it’s obvious. However, many in our society struggle with a desire for the recognition and approval of centers of power that can be defined as both temporary and trivial at best.
Oh, and by the way… I’m not referring to Church. But, that’s a whole other blog.
The Road to True Wealth” Begins at Home�
The core of this principle deals with the fact that we desire too many things that extract us from our homes, families, and communities. We should strive to draw closer to home with Home businesses, localized investing, and maintain our Family Bank�. Also, the double meaning applies to Owning Real Estate, specifically your own home.
Real Money is Gold & Silver Coin
This is simply a direct reference to the Constitution of the United States of America that refers to not only Congress’ ability to coin money and regulate its value, but also that no state had permission to render anything but gold and silver coin as payment for debts.
$20 in face value of gold coinage has maintained its relative purchasing power against inflation. A 1 once $20 Gold Eagle has an intrinsic value of $673 USD.
Live Debt Free
It’s really simple… If you have to finance it, then you can’t afford it. Consumer debt, unlike mortgage debt, carries ZERO incentive to execute. The only benefit to individual or corporate debt is instant gratification.
Building off of the debt free rule, this speaks to the very core of what we feel is necessary for us to live and exist in true joy and happiness. This begins with the question; What do you really NEED in order to live in happiness?” The problem is that we really believe that all of the creature comforts” that we enjoy are really necessary for a happier life.
The real focus here is the power of community. The ability to have relationships that we can not only go to when we have needs, but, also to produce enough resource to be able to be a source of generosity to our trusted communal relationships.
This is not communism” or the redistribution of wealth, but, simply an elevated since of true community in which the responsibility for caring for the needs of those with whom we have primary or secondary relationships with, i.e. friend, family, religious affiliations, etc.
Exchange Paper Money for Real Assets
This probably makes more since when you put the concept into its lowest common denominator, or simplest terms.
Currency, as is the official term for printed or electronic money, is made from 25 cotton and has an intrinsic value of less than 4 cents. Electronic currency has no intrinsic (or real) value.
So here’s the exchange:
Cotton/Linen/Ink for Gold & Silver (7 $100 bills X .04 = .28) for 1 once of gold
Cotton/Linen/Ink for Real Estate (100 $100 bills X .04 = $4) for 1 acre of land
Now, the key to focus on here is not the exchange rate or the ROI, but on the preservation of value and the inevitable hedge against inflation.