A recent report reveals that Kenya has seen a surge in the number of individuals classified as dollar millionaires, with 180 new individuals joining the ranks. The Wealth-X data featured in the Knight Frank Wealth Report 2018 shows that the number of people with net assets of US$5 million (equivalent to Ksh 500 million) increased by 16.2% from 1,110 in 2016 to 1,290 in 2017.
Out of these 1,290 individuals, 90 are valued at US$50 million (Ksh 5 billion) or more, whereas those worth US$500 million (Ksh 50 billion) or more are fewer than 10. The report also predicts a growth of 60.5% in the number of Kenyan dollar millionaires, with at least US$5 million in net assets, to reach 2,070 by 2022.
While it is desirable to become wealthy, it is crucial to adopt the right mindset and approach. Becoming rich requires self-investment in various aspects of your life, such as your education, skills, and time. Investing in yourself will not only make it easier to assist others but will also improve your chances of achieving success.
Other valuable tips to get rich quickly include saving money for retirement, visiting places where rich people frequent to get motivated, hanging out with millionaires to learn from their experiences and to get potential business deals and contacts, spending consciously like a rich person, starting your own business or side hustle, and utilizing your skills and talents to generate income.
In conclusion, many individuals remain poor because they lack the knowledge and skills to become rich. These tips provide valuable insights into how anyone can improve their financial situation and create a better future.