By Leroy Ferrao
The Covid-19 has pushed the poor into absolute poverty and the so called middle class are the new poor whereas the rich have become richer. How do you protect yourself from the great enemy of poverty in the Covid-19 era?
Here are 5 solid steps to help you overcome this dreaded poverty virus.
#1.Protect yourself from poverty by not retiring
Why do politicians occupy their positions even at 70 or 80 years? Or the rich business owners still go strong at 90? But the so called middle class and poor retire at 58 or 60 years? Think about it. In ancient times, retirement was a punishment for criminals. Today there is a campaign by the financial institutions to plan your retirement in your 30’s and 40’s. Are you aware that there is an hidden agenda to trap you to keep your money with the financial institutions so that the rich can invest your money and get richer? How much do they give you if you haven’t lost your money? A paltry 5 -8% ? And if inflation is 8 to 10 %, how much do you earn? Negative returns and you will remain in poverty all your life. In my previous blog, I recommended that you invest your financial resources in land because your money is safe and appreciates even in a downturn like today. You are investing in God’s asset that not only rewards you financially but gives you food to survive. Keep working until your last breath and that will ensure you beat poverty during this pandemic and beyond.
#2.Protect yourself from poverty by investing in yourself
Are you aware that investing in yourself can give you about 1000% financial returns? Invest in your self education by paying for online courses and knowledge. I complete my courses only if I pay for my self education. I encourage you to do the same. It is only when you are financially invested in you be emotionally invested in your learning and complete it. Learn skills like coding and not philosophy because as one entrepreneur said that self education will earn you a fortune. However, if you invest 15 years or more in learning theory and the outdated curriculum in the old educational system, as we are witnessing rapid change and all the information gets updated on the internet in seconds, whereas it takes years to update the curriculum at the educational institutions, you will end up in poverty. In the final analysis, how much of your money goes as investment in yourself will determine your ROI and whether you sink in poverty or fly out of it. The more you invest in yourself, the bigger returns you will reap in your life during this pandemic.
#3.Protect yourself from poverty by stop buying and start selling
If you keep buying, you will end up in absolute poverty. Track how much you buy each day. Anything that you buy, makes others rich and you end up as a loser. However. there are some things like food, medicines, education etc. that compel us to let go of our hard earned cash. Therefore, ask yourself ” How much do I sell? ” If in a day you buy more as compared to how much you sell i,e your time at your job or products and services to your clients, you are losing the game of your financial life. Consequently. stop buying the rich peoples products or services and start selling your skills, services and products to the rich and you will end up winning the game against your biggest opponent poverty.
#4.Protect by yourself from poverty by creating and not consuming
Creators end up on the winning side of the game of riches vs poverty. Consumers are the losers. The more you create, the more you will earn. If you are skilled or talented, create a product or service out of it. Then sell it. For example, the sports and entertainment industry, they create games or movies and make millions whereas the consumers give their time and money to these creators and remain in poverty. In India, a poor person will spend Rs.300 for a movie ticket in a multiplex or more than a Rs.1000 a movie streaming service. They lose hours that could have spent on their education or creating their own products or services that could have earned them money. Consequently, such ones will end up in poverty during this pandemic because the game has changed and consumers who fail to adapt and pivot according to the challenges of our changing times will sink in poverty.
#5.Protect yourself from poverty by overcoming addictions
Individuals who are addicted to shopping, alcohol, gambling, lottery, drugs, women, pornography, masturbation, TV, mobiles etc. are going to end either in jail or in absolute poverty. It is game over for them as they will never be productive but distracted from achieving their goals. It will not matter in the final analysis whether they were rich, talented and skillful. Their addictions will be the last nail in their coffin. They need to break free from their addictions or their addictions will break them and to seek professional help to overcome their addictions. Or their addictions will take them on a journey of death.
In conclusion, poverty has lived along with humans here on earth. However,with the pandemic , it has started knocking our doors. Will you open it and keep it out of your life ? Only time will tell.
This is Leroy signing out. Until Strategy No.7. All the best and share this article with your friends and family as sharing is caring
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