A newborn baby is at the very first of the seven stages leading to financial freedom. A typical billionaire in stage 7 would once have been a baby in STAGE 1. If the baby is exposed to characteristic of each stage, he will grow to understand the steps to take to move from one stage to the other. He will avoid the traps that get people trapped at particular stages. Presented here is a summary of the seven key stages to financial freedom. You should establish which stage you are currently in and determine what you need to do to move to the next stage. Then find books and mentors who can shine more light to make your journey faster.
7 Key Stages to Financial Freedom
Stage 1: Baby Stage
At this stage of life, Getting or Receiving is automatic. There is a GETTING WITHOUT DOING. Mothers or Providers study to identify the needs and meet them. People here think others are extension of themselves and exist for them. They are being breastfed all the time. ADULTS who are at this level are MENTALLY LAZY!. It is mental power that leads to wealth and not physical power. Lazy people are almost like thieves.
Stage 2: Begging or Demanding Stage
People here want things they cannot afford. So Begging or Demanding is their way of getting them. There are two types here – the Meek and the Abrasive. The Meek begs and uses Blame to enforce demand. The Abrasive feels those in higher stages have failed in their duty to provide for him. So he uses anger, struggle, fight or rage to collect “his due”. He uses cheating, tricks, stealing and violence to gratify his appetite.
Stage 3: Borrowing Stage
People here have started to develop conscience. Demands are followed by promises to give back. In short, they borrow. Borrowing is an improvement over begging. The chief abnormality or aberration is willingness to spend regardless of whether or not it has been earned. So expenses are generally more than income. There is unwillingness to delay gratification.
Stage 4: Drifting Stage
Here we have the development and amplification of the ego. They spend chiefly to get approval. They buy expensive clothing, luxury items, fancy cars, live in state-of-the-art homes etc while savings and investments are not accorded the needed priority. They are limited to Tracy’s Law of Scope. Their account balance is around the same figure; month in, month out; year in, year out. They have managed to save but spends savings on item that don’t reproduce or multiply their income.
Stage 5: The Generous Billionaires and Trillionaires
This is the highest stage attainable and has the fewest memberships – the top 3% of the population. Giving is accorded prime focus and attention. Sharing is viewed and pursued the way attention was once given to earning. Worries about income have long gone and they derive inexplicable peace and thrill from sharing. They institute charity foundations designed to further the channels that appeal to their hearts. A few specialize in caring for multitudes who are forced to return to stage one because of calamities, disasters, epidemics, wars etc.
Culled from Practical Guide for Accelerated Business Growth – Executive Summaries Vol. 17 by Dr. Abib Olamitoye.
