The fundamental problems of working for money has not been
revealed. Only after the Rich Dad Poor Dad came to be. People have big problem
with money. Some is shortage of money and the other having too much money.
These are problems after all.
For big proportion of world people, their profession is their
income. That become very common for those big majority, Yet for rich but
minority people, their assets are their income. Very big different, isn’t it?
Always in keep in mind taht if you want to buy something, first
you must generate more than enough cash from your assets to cover these
incoming expenses. Remember not to buy luxurious thing first but rather buy it
at the last spot.
Excess cash flow generated by my assets should be reinvested into
other assets.
Do not simply aim for more income, aim for more assets.
Keep your expenses low and reduce your liabilities.
It is suggested to create a corporation or company to keep your
assets containing and that it decreases your tax payment. For example, if you
are a worker you got paid monthly but without doing anything the city persons
already taxed your bills. You then have to spend the little left. A corporation
earns, spends everything it can before anything happens to that money. And then
they will let the money gets taxed after about 10 or 20 cycle of money working.
This is real differentiation between how rich and the poor spend money.
For the rich, they are using money to work for other more money
but for the poor they just got money and they spend that money without further
investment and producing more money cycle. The poor get money from the monthly
payment and without doing anything their money already get taxed. Imagine if
they can use those whole amount of money to do something else before it gets
taxed, how will be the different. A lot big different. They can generate income
three or four times bigger.
Know a little about a lot. Learn something about accounting,
investing, markets, the law, sales, marketing, leadership, writing, speaking,
and negotiating. An investment in knowledge pays the best interest.
Work to learn, don't work to earn. Find a job where you can learn
one or more of the above mentioned skills.
Do not simply buy investments. First invest in learning about
investing.
You will become what you think an study, then you must be very with
when choosing materials for your lasting study. You must be selective and that
pick up the right books will lead you to the right career and better. And that
made a wrong decision will push you down the in appropriated place you don't
like to see.
Also, not only book is important but who wrote that book and what
are their background is even very vital. Because author's background will
reflect in the writing. Hence, find people who are the best in their field, not
just in theory but their real experiement and successful and failure story. You
must associate yourself with them always if you want to be like them.
Very wrong for some people. They want to get lots of money but
what they are actually doing is not the way to reach their at all. When we are
able to make the right decision is not enough and we need to able to work in
that chosen field by own hand, head, and heart.
Losing and gaining is simply heritage of human beings. No matter
the poor ort he rich. However, most poor individuals do not lose that bad
habit. They try not to lose money and want always gaining. It’s nonsense. And
from the past history no one get rich without not losing any money. They all
lose and they are happy to lose, not sad. Afraid of losing money is big
struggle for money maker. Here to get financial freedom, never afraid of losing
money.
Failure inspires winners and defeats losers. When something does
not work out the way you planned, let it inspire you to try a different
approach. Learn and move on.
Must be able to get your emotion under contronl. Never allow your
scaredness and fearing to nightmare or dictate your activity. As we experience,
during stock prices go down, many people begin to give up. Y, when the local
shop starts their sale, flux of people come to buy as much as they can.
Most sellers ask too much. It is rare that the asking price is
lower than something is worth.
Surround yourself with people who are smarter than you, and pay
them well!
Saying "I can't afford it" shuts down your brain. Asking
"How can I afford it?" opens up your brain and triggers your
financial genius to come up with a creative solution.
Why don’t pay yourself first. Each month, firstly divide some part
of money for new investment and keep it generates new income before letting
those money destroyed by your bills. If you do so, you‘ll come up short. Use
this pressure to pay to inspire you to come up with innovative ways to get
enough money to pay the bills before the money collector comes to your house.
Of course, it is a difficult but when one can overcome it they will stay safe
for lifelong. Hence it’s very important to stick to this principle. However, it
does not mean you should be irresponsible. Always pay the bills. Just pay
yourself first because it means give yourself a thum, a reward or an
encouragement. What happen if you get yourself paid at last minute? You feel no
motivation, no mood to move forward.
Have a clear purpose in mind. Why do you want to earn more passive
income? For me, because I do not want to work all my life. I want to have
control over how I decide to spend my time. Also, I want to support my parents
financially, because they have been working hard all their life and they
deserve an amazing retirement. Write down yours, because it will keep you
motivated.
Listening is more important than talking. Do not constantly argue
and think with your mouth, but instead ask questions and absorb new ideas.
On the market: do not follow the crowds, and do not try to time
the market. Profits are made when you buy, not when you sell.