Unpopular opinion for wealth creation in the Philippines you should read for 2023


Building wealth doesn’t necessarily mean investing in financial instruments such as (Stocks, Bonds, Real Estate, and Mutual Funds).

These instruments were created to preserve wealth, not to make it. The term “diversification” is for the people who already grew their wealth. You can’t diversify if you can only save a thousand pesos every month, don’t you? Even if you do so with 100% returns, it will only make another thousand pesos monthly.

I came from a family in the lower-middle-class bracket. The advice that investing will get you ahead seems blurry to me because they are all talking about the same thing, the same financial instruments that make no difference. Even if I put money into that, it will still need to generate more returns to build wealth. Until I finally put the pieces together on how to make a system for myself for the following year.

Concentration in a specific business that you’re trying to break into and increased earning power is a way to go. You don’t get to build wealth by selling your time; that’s correct. But what else can you sell aside from your time for now? If you don’t have anything to show value for the market, then selling your time is the only option; nothing is wrong with it. You get paid for how much weight you provide.

So then, what do you have to do?

Upskill yourself

Master a valuable craft that will make you a fortune. It might be marketing, sales, tech, science, engineering, or the law; either way, the career you choose should fit your personality. Hey, you cannot be a doctor and not care for people. Even if you do, you’ll not go so far with that path. Learn a trade and keep stacking up those skills for you to land a much higher-paying job.

Concentrated assets

Diversifying early in your career could be detrimental and slow your growth. Building wealth requires you to put your time and focus into 1 to 2 fields only. For example, cybersecurity & law, multimedia arts & digital marketing, healthcare & technology, construction & electronics, and many more exciting areas. It depends on your chosen niche as long as you put all your time and effort into one or two things that will generate wealth for you in the long run.

(Note: Be careful, early specialization as well could be as detrimental as diversifying early, before you choose something that you will put most of your time into, make sure you’ve already experimented with many areas and you already reflected that the field you will be concentrating into is the one that you want)

12-hour workday

Yes, I know, I will be getting much backlash when I say you should have a working hour this long every day. I am also an avid believer in a work-life balance, primarily since the pandemic taught me how important it is to spend time with your loved ones and that a job is only a job. But I’m not talking about having overtime in your day jobs. You wanted to build wealth; there is a sacrifice for that. You have to understand that if you are not from a wealthy family. You have much energy, and time is by your side. You can put in the extra hours building your skills and honing your physical and mental strength, going the extra mile for your projects to show in your chosen niche. There’s no shortcut to that. And nobody is forcing you to build wealth; you can go on with life with a regular day job and enjoy it. You can, and some people should. But if you want that wealth, understand that time is the first thing you’ll sacrifice.

Understand taxation

Nothing is certain in this world except death and taxes.

An employee is paying much more taxes than business owners because there are many legal ways to pay fewer taxes if you understand it, and I am not saying that for you to evade taxes because that’s a bad idea. For you to create wealth, you have to understand the policies, and you also have to realize that taxes will always be there. It would be best if you embraced learning it so that you will never be the person who turns a blind eye to what is happening around you. If you are really into building generational wealth, put some time and effort into learning taxes, for months, with just a light way of learning it. Take your time to grasp it.

Be optimistic

You should be optimistic, but I am not saying that you should not be skeptical. You can be both at the same time. It would be best if you kept looking for answers, asking questions, and striving toward the future you want by being skeptical about your decision-making. However, it would also be best to remember to live your life by being optimistic.

Break the cycle and be the change you want to see in the world. This reminder is the one if you are looking for signs and unpopular opinions on building wealth. I hope you learn something from what I wrote. I am also making the life I wanted on this journey. When I was about ten, I started writing and reading about topics in self-development, finance, and philosophy; I didn’t want to hoard my knowledge and keep it on the bookshelves now. It’s time to share what you know with others as well.