The Fastest Way to Build Wealth

The Burj Khalifa in Dubai is a modern-day Tower of Babel*. It is the tallest building in the world, having 160 stories, 57 elevators, 900 apartments, 304 hotel rooms and almost 3000 parking spots and built with a whopping cost of $1.5 billion. It is tempting to look at an exotic building like the Burj and assume it was made from exotic materials and processes. In fact, the same process it took to build your home, apartment or office complex is the same one it took to build the Burj- using sound architectural principles to build step by step, block by block and brick by brick, from the foundation upwards. Exotic buildings are not made from exotic processes but simple ones, so also complexity does not arise from complexity, but simplicity. In the same fashion, great wealth arises from simple principles. Understand that while money is made, wealth is built, and the fastest way to build wealth is to build slowly on timeless principles of budgeting, maximizing tax advantages, deploying risk adjusted investing, increasing your value quotient, and doing this early enough. To build fast, you must build slowly on these principles and if you stay on these principles long enough, you will become wealthy soon enough. You don’t have to be a rocket scientist to realize that attempting to build the Burj overnight is a recipe for disaster despite the promises and optimistic projections of others. Likewise, wealth is built overtime, and not overnight. The difference between the Burj and your home is the time it took and the intensity in which it was built. Start by investing time and intensity in developing your financial and investing acumen and consulting a financial adviser. Rome was built fast because the builders understood that it could not be built in a day.

*Tower of Babel – Gen 11: 1-9