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What's The Source Of Wealth In One Word?

May 24, 2008
Do you want to understand the secret to wealth in one word? Well here it is..."GIVING" (or "GENEROSITY"). There are two sorts of giving.

* Value giving
* Charitable giving

The first type of giving you've probably not really ever thought about...we call it "value giving". It's the type of giving that the rich have mastered and you must as well if you wish to become wealthy. It's the concept of providing products and/or services to others that gives them value...value they're willingly pay for...it provides a win:win situation...when you can do that you'll be rich!

When Michael Dell sells you a Dell computer the poor and middle class think that his wealth is created by the fact that he builds computers for less than he sells them and that this is the secret to his wealth. The wealthy know that Michael Dell is rich because he has created a product that offers an enormous amount of value to people, and that people are willing to pay for the value that he is offering. Michael Dell knows how to give value to others and it is this process of giving value that has enabled him to become a billionaire. That's a win:win. Dell's customer's win by receiving a great computer at a great price and Michael Dell wins because he is paid handsomely for the value he is providing.

If you think of any successful person or company you will soon discover that they are providing some product or service that gives value to people or businesses that they are willing to pay for. The wealthy simply look at the world in a different way. Instead of trying to work out how they can take their slice of the limited amount of money in the world, they see the world of wealth as limited only by their imagination...they're ability to give value to others. In other words wealth is unlimited because your ability to imagine is unlimited. They look for ways to offer value to others and they know the more value they offer the more they will receive in return.

The second type of giving we call "charitable giving"...the gifting of time and/or money to charities, communities, good causes and so on to help others. Charitable giving is one of the key elements to wealth creation and is the type of giving that Rich1Percent represents. It's one of the ways I give back to others by gifting some of my wealth knowledge to those that seek financial freedom. The wealthy don't go around producing value for others and then suddenly become Ebenezer Scrooge and hoard their money so no one else can ever reap the benefit from it. Just the opposite...they look for the best ways to give it back to help others.

Philanthropy may appear to be gaining popularity because it has been gaining more and more recognition, but the wealthy have been gifting their wealth since the time that people could become wealthy. Imagine being able to gift enough money to build over 2,500 libraries like Andrew Carnegie, or $6 billion like George Soros or even Bill Gates and Warren Buffet who have gifted $29 billion and $30.7 billion respectively. What an incredible difference they have made to our planet now and for so many generations to come.
About the Author
Emlyn Scott is the founder of Rich1Percent , investor and wealth creation author. He is a wealth creation and finance expert with 4 post graduate qualifications and has amassed a multi-million dollar investment portfolio.
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