TAKEAWAYS

• Mayiga says education and early employment are only the beginning of wealth creation.
• He believes experience and expertise are built between the ages of 30 and 50.
• The Katikkiro says people should not pressure themselves into expecting overnight wealth.

The Katikkiro of Buganda Kingdom Charles Peter Mayiga has urged people to understand the realities of life and wealth creation, saying that financial success rarely comes without years of experience, hard work and expertise.

Mayiga made the remarks while speaking to bloggers Shalom Kawesi and Frank Ntambi, where he explained what he considers the different stages of a person’s journey towards building wealth.

According to the Katikkiro, most people complete their education at around the age of 25, depending on the course they have pursued. The next five years, he explained, are usually spent finding direction, whether through employment in the private sector or public service.

From around 30 to 40, Mayiga said, people spend a significant amount of time developing the skills and expertise required to become established in their respective professions.

“Some things are not learned at school. They are learned through work and experience.”

He explained that this is the period when a person gradually hones their abilities, whether as a lawyer, doctor, tailor, carpenter or someone working in the informal sector.

Mayiga added that this stage of life also comes with increasing responsibilities, including starting a family and supporting parents, siblings and other relatives.

Although a person may acquire basic necessities such as a car or house during this period, he said these should not necessarily be confused with true wealth.

According to Mayiga, it is between the ages of 40 and 50 that many people begin to fully master their professions and become recognised experts in their fields.

“From 50 upwards, that is when people start building real wealth.”

He explained that this is the stage when people may have greater financial security and can worry less about basic expenses such as rent, food and other bills.

Mayiga therefore urged young people not to pressure themselves into believing they should become wealthy overnight, saying expertise and experience take time to develop.

He also noted that he has made similar comments several times but has often been misunderstood as having an agenda against certain people.