Not everyone can be an entrepreneur but you can build steady and gradual wealth with discipline and precise decisions. See below my experience while I was in paid employment:
1. Invest: I invested my savings in guaranteed funds/ money market/ Stocks
2. Be Frugal: I did not spend much, I refused to be put under pressure by the success of other friends. I did not travel for traveling sake, I did not buy anything I didn’t absolutely need.
3. Side jobs: With the permission of my boss, I consulted for other companies, always keeping in mind to put my employer first, ALWAYS.
4. Be creative: Whenever I travelled for work or leisure, I asked my colleagues what they wanted to buy. I especially tell the comfortable bosses and MDs I’ll be adding 5-10% for my trouble, I make sure to get tax refunds and as soon as I get back to the country, I put all my earnings back in investments.
5. Go the extra mile. Work smarter than everyone else: Before I resigned from my first employment, I worked smarter than everyone else, Did what No one else wanted to do and burnt candles to read up on what I didn’t understand. I became really hard to replace. I got promoted pretty fast and my salary was increased 3 times in 18 months.
6. Don’t lend money to anyone. Give what you can.
7. STAY AWAY FROM MORTGAGE. ESPECIALLY IN NIGERIA. The accumulation of what you pay back will never get you out of the average level. Buy what you can afford in cash.
8. Invest in start ups: I also should have invested in a former colleague’s business, I didn’t, now he owns 20 filling stations in Nigeria. If you have an opportunity to invest in a start up, please do so. After conducting due diligence ofcourse.
BOTTOM LINE: After I resigned, I decided I wanted to earn FX on the side, liquidated all the investments I made during employment, into investing in a foreign country and now I earn FX monthly.
NOTHING SHOULD STOP YOU FROM BUILDING WEALTH. WHETHER YOU ARE A SALARY EARNER OR AN ENTREPRENEUR