It’s a great book on the mindset to become rich in life ! Ricardo Kaniama shares the story of his mother, who inspired him to become the millionaire he’s today ! Despite having no money or food after the death of her spouse, his mother successfully kept her only goat. That goat is the symbol of this book. It allows you to see money differently. It represents how money should be seen , as something to take care of, so it can take care of you in the future. By avoiding killing her goat , his mother preserved her only asset and allowed it to multiply over time. This simple principle is challenging for people to practice and it marks the difference between having a poor mentality and a rich one.
In financial terms , it is crucial to save at least 1/10 of your income to build your investment fund. That 1/10 is like your goat, which you should not be spent at any cost. There may be temptations to spend it, but the real cost of the wealth starts here. Then, you need to find ways to multiply your investment funds by investing in good assets. Avoid using your savings for consumption products or items that lose value over time, such as cars and clothes. Invest it wisely instead. To do so and avoid traps of quick money/ quick wealth you need to educate yourself about the subject you want to invest in. Analyze and study the field , gain a better understanding of what’s really going on. Look for valuables like gold that appreciate over time, or buy land that increases in value.
It took the author 7-8 years to become a millionnaire . Here, we must understand that wealth comes with patience. You can’t become rich in over night. Moreover it can be a curse to become rich instantly because earning money is easier than keeping it. Therefore, we must be ready to protect our earnings and use them wisely. All of this requires sacrifices and a shift in mindset. We have to be willing to produce first before consuming anything and have a long-term perspective .