To Be or Not To Be Wealthy

Brian Tracy: 

I wrote this article as a task during an interview and I do not mind sharing with you.

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orty six per cent of Kenyan population lives below the poverty line which
is less than one US dollar a day. Most of these people are slum dwellers and people living in arid and semi arid lands. This poverty has been attributed to unemployment, high standards of living and the vicious cycle of poverty. Part of this is true but what people fail to realize is that they are sitting on wealth. Someone like the late President Jomo Kenyatta knew the importance of land, which in turn, made his family to be among the richest in the country. In relation to this, Brian Tracy provides five reasons people do not become wealthy.

The first reason is failure to realize that one can be wealthy. Those living in slums, for example Kibera, have accepted their fate of being poor. Their social circle and network is made up of poor people and at times they go to the extent of hating on the rich. Most of them do not own a piece of land and do nothing about it. This is why they continue to be poor while the Kenyatta’s and Moi’s continue to be rich.

Secondly, we lack wealth because of failure to decide that we want to be wealthy. People know that they want wealth but very few establish a plan towards success. In Kenya land has been known to be the major source of wealth this is true for farmers, land sellers and those in real estate. Peter and Sue Muraya are examples we can associate with. They left their professions so as to invest in real estate in a bid to acquire wealth. They now own Suraya, a household name in real estate. They wanted wealthy, made a plan and executed it.  

Procrastination is the other robber of wealth. For Kenyans, career and family development always seem more important than acquiring land. What we tend to forget is that, the value of land does not remain constant and so is does the demand. Five years ago land in Juja was less than Ksh. 50,000 but now it is going for Ksh. 1M and above for a 50 by 100 plot. Those who bought land then are making millions through the resale to those who procrastinated.

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rian Tracy listed the inability to delay gratification as the fourth reason of retiring poor. Kenyans like living for the moment and prefer investments that yield instant returns. However, Ian Kahara and Kimiti Wanjaria made a choice to enjoy later. They bought land in Sigona at Ksh. 50M and then co-founded the Sigona valley project.  This is a multi- million shillings investment since they own 30 four and three bedroom stand-alone houses with ample parking.

The final reason that people remain poor is the time perspective. Dr Edward Banfield defines time perspective as how far you project into the future when deciding what to do and not to do in the present. Waiting till you get enough money to purchase land is like agreeing that you will never buy land. Land can never depreciate but it will always be useful.  Make some savings of if you must get a loan so as to secure your future.

“If you are born poor it is not your fault. But if you die poor it is your fault.” These are the words of Bill Gates. Land is the investment with the highest returns for all be it famers or real estate agents. Kenyans please let us refuse to retire poor.

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