In my society, or my place of residence I have noticed that the low class or low middle class people found theirselves in the state due to a certain policy made by the government, or a mistake made by them, just a mistake brought them from being rich and wealthy to being poor and being in the low middle class. I can’t count how many people I heard while growing up that they were once rich but a mistake made them poor. My Grandma was known to be a very rich and comfortable woman, being a popular Gin supplier in her community, but unfortunately that business went down but poor management ran the business down.
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A man was known to be a big supplier of Motorcycles in a particular community, and Nigerians know Motorcycles as Okada, it’s one of the easiest and cheapest to access means of transportation in Nigeria. But the government banned it in that particular area and the man didn’t know what to do, that became the downfall of his business. As a young person trying to create wealth we need to learn from our parents mistakes and also try not to make them. One mistake I learnt from my Dad was real estate mistake, my dad invested in a lot of landed properties , unfortunately, Nigeria is one country that is some sort of lawless, after buying some of them, found out they were scam or had dispute, yet these properties had verified papers.
Nothing can be predicted, mistakes are called mistakes because they were not intended to happen. If you happen to find yourself in a position of wealth or huge amount of money to consider you wealthy, how would you preserve it to make sure you don’t make a mistake that will make you lose all that money at once.