The One Financial Quote You Should Know.
This is one quote that can completely change your thinking financially but for those who don’t know this quote;
They’re in danger of facing Economic insecurity.
Those people who are unaware of this one quotes are as rich as their next unguaranteed pay raise. To those who want to be rich and financially free here are 10 secrets to financial freedom you should know.
Those who don’t know this quote are always or will be disappointed at some stage in their career. For obvious reasons, they have no control, no power whatsoever regarding their income, they can’t just decide to increase their income, their promotion, time, and freedom. That is controlled by someone else.
Most employees think that true financial independence or their economic security lies in their job, that is why they keep going back to school to get a pay raise and there is nothing wrong with going back to school. But that is not where true economic security lies, you can get fired. This kind of thinking has been tested by the COVID-19 pandemic where so many people who were employed lost their jobs. When that happened those who didn’t have enough savings, faced economic insecurity.
Economic insecurity happens when there aren’t enough resources to pay for food, housing, medical care, and other essentials.
Those who don’t understand this quote work harder on their jobs than in themselves.
Work vs. Job
By the way, do you know the word job is not in the bible all we have in The Bible is Job, is a person not a job.
Bible talks about work not a job.
Work is what you were born to do. A Job is what they pay you to do. The word Job is simply an acronym of Just Over Broke (J.O.B). The salary they pay you in your job is a drug to make you forget about your dream, and by the time you retire you are too old to do anything for yourself and for the employer so they sent you home to die.
The reason I’m calling the one financial quote you should know is because it encompasses many things in it. It is brilliant financial quote, investment quote, it is a quote about money and life, it is an investment quote, and it is a financial freedom quote. You can also watch the video of the same on Incisive Financial Solutions YouTube channel.
The One Financial Quote You Should Know.
Here is the one financial quote you should know. This quote I’m talking about; it is from Stephen Covey, the Author of The 7 Habits of Highly Effective People.
He said
Your economic security does not lie in your job; it lies in your own power to produce—to think, to learn, to create, to adapt. That’s true financial independence. It is not having wealth; it’s having the power to produce wealth. It’s intrinsic.
– Stephen R. Covey
So let me examine deeper this the one financial quote you should know.
Let me begin by defining the term economy security. This is the ability of people to meet their needs consistently according to Investopedia.
This quote informs us that economic security which is, our ability to meet our need consistently doesn’t lie in our jobs.
Ability to meet our needs consistently depends on 5 things
According to Stephen Covey the ability to meet our needs consistently depends on 5 things;
- Our own power to produce,
- Ability to think
- The ability to learn
- Ability to create
- Our ability to adapt
Let me go deeper into those 5 things;
Your own power to produce.
Every human being was created by God to solve a problem. I believe that with all my heart, you are not a biological mishap; you’re a solution bringer, a problem solver.
When you solve a problem, you become a producer of solutions. If you are keen enough you will realize the richest people in the world are producers of solutions. Becoming a producer is the Fastlane to becoming a multi-millionaire or multi-billionaire. All the richest people Elon Musk, Bill Gate, Warren Buffet, Jeff Bezos…Larry Page, they are producers. They saw a problem and offered a solution and they are rewarded for offering solutions. They have achieved their true financial independence.
Your Ability to think
There are always problems that need to be solved every day. People are faced with unsolved problems. But you see the only people who can solve these problems are those who are willing to think about how they can come up with solutions. Those are the only people who are rewarded financially.
Many people see a problem in the community but they don’t think about how to come up with a solution, thus missing the financial reward that comes with offering solutions. You can’t be a solution bringer unless you are a thinker and acter.
Your ability to think and act determines whether you will live or die financially.
Five percent of the people think; ten percent of the people think they think; and the other eighty-five percent would rather die than think.
― Thomas A. Edison
Your Ability to Learn
You can’t change who you are, but you can change what you have in your head, you can refresh what you’re thinking about, you can put some fresh air in your brain, you do that by learning.
Learning is earning. Those who don’t learn don’t earn. If you want to succeed financially and in life, you must learn. Many don’t know that continuous learning is the minimum requirement for success in any field that is why Warren Buffet reads 500 pages a day. It is learning new things in life that make us grow.
Steve Jobs once said,
Learn continuously- there is always one more thing to learn.
-Steve Jobs
Your Ability to create
Creativity comes from the word create. To create means to come up or to invent something new and different. That’s your imagination, that knowledge that helps you to be a creator, to make something out of nothing. This is creativity at work. Creativity involves breaking out of established patterns in order to look at things differently. Look at inventions like Microsoft, Apple, Facebook, Tesla, SpaceX et al those are new inventions. New creation if you will. All worth billions of dollars. To achieve true economic security, you must be a creator.
Your Ability to adapt
To adapt is to change your behavior so that it is easier to live in a particular place or situation. Life is capricious, those who don’t adapt die. To succeed in life, one must be flexible. Understand this, in life the only permanent thing is change. Change is coming and you have to adapt to that change or you’ll become extinct like the dinosaurs. Learn to adapt to new changes, embrace changes and make the most of what comes to your ways. Your ability to adapt to changes is what determines your success in life.
Stephen Hawking once said.
Intelligence is the ability to adapt to change.
– Stephen Hawking
The investment world is volatile and those who can’t adapt die of heart attack and other stress-related diseases.
Warren Buffets said,
True Investor welcomes volatility…
– Warren Buffets
Conclusion
True financial independence is having enough wealth to live a life of comfort without the need to work. But having wealth alone without the power to produce, the ability to think, learn, create, and adapt the wealth you have is not true financial independence. You can lose it all, true financial independence is having the power to produce wealth, even when you lose it, you can produce it. It’s intrinsic.
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