PURPOSE of WEALTH (Pt2): SECURITY

Hello Alux, or welcome back to part two of our Purpose of Wealth series. In the first part, we discussed wealth as a facilitator of freedom. Now we're going to discuss wealth in a different light: one of protection, safety nets, and more.

Now, since our early days as humanity, the ones who survived the storm carried their genes forward. In time, we understood just how important shelter and survival are. So, let's discuss the role of wealth in this process of survival and protection. The first one we'll cover is also the most obvious one: physical security. Because through wealth, one can directly protect the health of those sitting under the wealth umbrella.

This is why wealth gives the bearer a great unfair advantage. It gives you that slight edge that might allow you to escape death's grip, where others wouldn't be able to. The most direct example is medical costs, where you don't have to start a GoFundMe, hoping it'll go viral to take care of your child's surgery. You just pay for the best medical treatment that your wealth can buy. Because money buys you a fighting chance.

And this is why rich people buy expensive SUVs; your chances of survival are better than if you were driving a less secure car. Rich people understand this and leverage their fortunate position to protect themselves and those they love. In terms of physical security, you can even look beyond that, where wealthy individuals can move their family out of less safe environments. While the average person is stuck in the environment they're born in, the rich, through the power of wealth, simply pick up their loved ones and move everyone across the world to get their family out of harm's way.

As an individual, you're responsible for your own physical security and that of your inner circle. No matter the dimension of your wealth, you should carefully consider how to deploy a good portion of it to provide this type of security. Now, immediately after the one where you actually could die is the next type of security that wealth can facilitate: security from poverty and all that comes with it.

All the pain and sometimes misery. We are hierarchical creatures, and although money doesn't buy you happiness, it sure as hell can get rid of a lot of sources of unhappiness. Wealth is meant to solve this for you; it's there to make sure that you and those you care about will never return to a state where you have to worry about keeping the lights on, or heating your home, or putting food on the table. This is the fundamental reason why you should focus on building wealth.

Apart from building lifestyle, greater wealth will carry a greater lifestyle, but a lifestyle that outweighs the wealth will make everything crumble. What would happen if you became incapacitated and unable to work for the next 12 months? Would your family be okay? How much of your lifestyle would be impacted? Maybe poverty isn't an immediate worry for the majority of you, but what about debt? Today's society runs on debt; almost everyone out there has this gloomy, dark cloud of debt following them everywhere they go.

Can you imagine having this burden off your shoulders, to know that you are free? A common mistake that people make is believing a well-paying job is the same as security from poverty, but they're mistaken. Nobody gets rich working for someone else, and those who have invested in themselves and gotten the Ax app, well, they know this well.

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All right, back to the topic at hand. After security from poverty, the next type of security that wealth provides is security through diversification. For as long as you can remember, wealthy individuals in history were pictured as having incredible amounts of gold. That's why treasure chests were always filled with gold coins. The true purpose of wealth is to completely remove the financial burden from the individual.

The only way to truly achieve this is by having multiple sources of income independent from you. If there's one thing you remember from this entire series on wealth we're doing, it's this: as long as you live, if you manage to create multiple sources of income that do not rely on your input to generate income, then you'll be free, rich, and never have to worry about money. Diversification means that your wealth bubble can sustain multiple cracks without breaking.

So, you can afford to take hits because even if you fail a little bit, you're still at the top of the mountain. In essence, diversification is not about avoiding failure altogether, as no investment is entirely risk-free. Instead, its purpose is to minimize the potential harm to one's overall financial well-being. By spreading resources across multiple income streams, you create a safety net that ensures your wealth system can endure and thrive no matter if something breaks.

And this type of diversification of income protects you from the next type of event: security from Black Swan events. Now, a Black Swan event refers to something that is statistically unlikely to happen but does happen every once in a while. The pandemic was a Black Swan event, for example. The poor were the hardest hit.

We've all heard Ellen complain about how terrible quarantine was from her $27 million compound, plus access to high-quality medication 24/7. Wealth gives you an unfair advantage to be okay when everyone else would be in complete panic mode. But the benefits of wealth extend well beyond mere protection. In many cases, the wealthy stand to gain from Black Swan events. While the pandemic wreaked havoc on global markets, causing widespread turmoil and financial losses for many, others seized the unique opportunities that emerged amidst the chaos.

Wealth not only insulates you from the worst effects of Black Swan events, but it also gives you the opportunity to acquire undervalued assets. And lastly, social security! And no, we're not talking about your social security number here. Discrimination is playing an incredibly nefarious role in our society, and to some degree, wealth can shelter you from it.

Success, fame, and wealth serve the same purpose: security through elevation. Wealth goes beyond your skin tone, your accent, or your birthplace. It levels the playing field amongst participants, and it's hard to look down on someone who's wealthier than you. The purpose of wealth is to protect you against any type of hard mental, physical, emotional, or spiritual problem.

If you want your kids to be safe, become wealthy, which is why we're now passing this question on to you: what is one time in your life where wealth could have brought you security, but you didn't have it? What if you could flip a switch and starting tomorrow, you could be someone else in a new country with a new name, a new identity, and the world is your oyster? Wealth allows you to do just that.

It can open up doors, get you citizenships, and make new homes for you if that's what you decide to deploy it toward. Wealth is always welcomed wherever it goes, and because you have it, you'll be welcomed too. Be rich enough that you could go anywhere in the world and still choose to be yourself. We hope you found this second part interesting enough to watch it. The next three parts are coming up over the following week, so make sure you're subscribed to not miss out.