Financial success and its quadruple … plans to achieve financial success presented by Dr. Tariq Al-Suwaidan
The Financial Success Quadrant is a basic plan consisting of four important points and easy to implement, suggested by expert Dr. Tariq Al-Suwaidan, we will present it to you with a detailed explanation, because it is really presented by a wise man who has his name and weight in the world of Arab financial culture.
Quadruple financial success
1- Double your income every 3 years:
Dr. Tariq Al-Suwaidan points out on this point that the person who wants for himself real and balanced financial success should start thinking about doubling his monthly income, for example, and Dr. Tariq has set a medium period for measurement to implement this plan, which is that you must double your general income every 3 years, If this is what is really happening to you, then you are on the right path, God Almighty willing.
2- Double your capital every 5 years:
Real capital is the total net worth, and it is the true and most honest measure of personal financial success. If you do not have the capital that you multiply at least every 5 years, you are unfortunately far from financial success, and this should be an incentive for you to start managing your financial affairs more wisely, and to start Learn the tools of capital formation immediately.
3- To ratify periodically:
Never give up charity, for it is a spiritual key to good, livelihood and happiness, and even if you are of a modest financial level, you can give in charity a little, and God rewards charity, and we cannot say that giving 5% of total income is an exaggerated thing, rather it is a normal percentage. And a blessing poured into your whole life, God Almighty willing.
4- Distribute your investments by 40% real estate,
30% in securities, and 30% direct investments:
The previous three points are basic indicators of the health of your financial success. As for this point in particular, it is your practical, guaranteed plan to achieve the desired financial growth and to reach real financial freedom, and therefore I will talk about it in more detail.
Dr. Tariq Al-Suwaidan believes that the distribution of investments is a safety valve to protect capital from unpredictable circumstances, because it reduces risk to a large extent, so that it is almost non-existent, because it will be virtually ineffective in the long run.
The doctor suggests that you invest about 40% of your capital in real estate, regardless of its type, because real estate is considered by investors as a base from which to start, a pillar to base on, and a station to return to, the important thing is that real estate investment is carefully studied with experience and care, so that we reduce the risk again.
30% of your capital is preferred to be invested in the financial markets according to Dr. Tariq’s vision, and this will be in the form of stocks and bonds, or any other type of investments traded in the financial markets.
The doctor believes that it is also important to invest about 30% of the capital in direct investment, which is investment in effective commercial and industrial projects, as they may achieve high profits and rapid growth, and this undoubtedly depends on the quality of the project, and on its leadership and management.
The Key to Financial SUCCESS is to Understand THIS – Kim Kiyosaki [Cashflow Clubs]
I was always told to focus on the income column. I was taught to get a job, work hard, and keep getting pay raises. Or if I worked on an hourly basis, I was taught I should put in more hours or increase my hourly rate. The focus was always on income, specifically ordinary earned income — increasing my salary, wages, or commission. As long as I put my focus and attention there, then I would be working hard for that income all my life.
The lights came on when I realized that the key to financial well-being is not to focus on acquiring income but to instead focus on acquiring assets.
When I made that connection, life became easier, both in my personal financial life and in our business – The Rich Dad Company. I focused on acquiring assets personally and also focused on the assets we were building within our company.
I also began asking one important question: What new assets am I building today?
It is simply a different way of looking at the world.
The strategy to achieve infinite wealth, where the cash flow coming in is equal to or greater than your monthly expenses, is very simple: Stop focusing on income and start acquiring assets that give you cash flow.
It’s no secret that wherever you put your time, energy, and focus will grow in your life. So if you want to achieve your financial dreams, you may want to put your time, energy, and focus on acquiring assets.
The common misconception of financial freedom is having a high income / high paying job. However, as Kim states, financial freedom is the state in which your assets cover ALL of your expenses.
When your assets are working for you with little to no time commitment from you, and are paying for all of your bills, light, gas, rent, car etc., you are worry free. This then allows you to commit time to your passions without the fear of not being able to cover the expenses. This is how the rich get rich. They buy their time back with their assets and are able to pursue new things, new opportunities!
Unfortunately, we were taught by the school systems and our parents that getting a high paying job and benefits was the only key towards financial freedom. We must not work for money but work to have money work for us. The only way to do this is by acquiring assets.