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Wealth
Generation
Wel-Fi: is an
electronic network that supports the reciprocal flow of capital and
accountability; while simultaneously providing financial services to allow
individual clients to build their personal wealth. [WEaLth building-FInancial
services]
Why is wealth
the goal?
It is said
that money can not buy happiness. However, people without financial
resources can live in great peril to their well being. Poverty can grind
men into ones who at their core or in their soul are deeply alienated and
dissatisfied. These people are not the bedrock of a strong nation.
In English,
“wealth” is a word that in its original form meant “doing well” in life.
This included but did not exclusively refer to financial resources. Simply
put, having money did not equate well being and wealth. The scripture
asks, “What shall it profit a man he gain the whole world and loose his
own soul?”
What do you
mean build wealth?
There are
five ways to accumulate wealth.
-
The best way
is to inherit it.
-
The worst way
is to steal it.
-
Workers get
jobs where they trade their time and effort for wages.
-
Entrepreneurs
use ingenuity, effort and capital to build increased value and create
(money) wealth.
-
Investors: let money work for them.
How is this
commonly done?
The ordinary model to allow individuals to become financially secure is
number 3: “Trade time and effort for wages.” This step requires:
Why is this model not always working?
The challenge is that the steps of the ordinary path can become
unavailable to ordinary people:
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Inhibition: Poverty holds some people back from getting a quality
education.
-
Unavailability: Individuals do not always live near or cannot compete
successfully compete for good jobs.
-
Lack of access: Individuals have limited access to banks and function
in a barter economy.
-
Result: Wealth accumulation is difficult.
What is the proposed model?
We propose that some people are in need something other than the ordinary
model to build wealth. This is the Entrepreneurial model. Entrepreneurs
use ingenuity, effort and capital to build increased value and create
wealth.
What is required to broadly implement the entrepreneurial model?
1.
Micro enterprise development programs.
2.
Access to capital.
3.
Reliable record keeping and finical services.
How does Wel-Fi fit in?
Wel-Fi is the structure that allows individuals accountable access to
capital markets and financial and accounting services.
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