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The poor and the middle class work for money. The rich
have money work for them.
Life pushes all of us around. Some people give up and
other fight. A few learn the lesson and move on. They
welcome like pushing them around.
Stop blaming me and thinking I am the problem. If you
think I am the problem, then you have to change me. If you
realize that you are the problem, then you can change
yourself, learn something and grow wiser.
When it comes to money, most people want to play it safe
and feel secure. So passion does not direct them. Fear does.
It is fear that keeps most people working at a job, the fear
of not paying their bills, the fear of being fired, the fear of
not having enough money, and the fear of starting over.
That is the price of studying to learn a profession or trade,
and then working for money. Most people become a slave
to money, and then get angry at their boss.
Most people do not know that it is their emotion that are
doing the thinking.
A job is really a short term solution to a long term problem.
It is just like the picture of a donkey dragging a cart with its
owner dangling a carrot just in front of its nose. The
donkey’s owner may be going where he wants to, but the
donkey is chasing an illusion. Tomorrow there will only be
another carrot for the donkey.
Rich People Acquire Assets
It is not much money you make. It is how much money you
keep.
Intelligence solves problems and produces money. Money
without financial intelligence is money soon gone.
If you are going to build the Empire State Building, the first
ting you need to do is dig a deep hole and pour a strong
foundation. If you are going to build a home in the suburbs,
all you need t do is pour a six inch slab of concrete. Most
people, in their drive to get rich, are trying to build an
Empire State Building on six inch slab, it will not work.
Rich people acquire assets. The poor and middle class
acquire liabilities that they think are assets.
If your pattern is to spend everything you get, most likely
and increase in cash will just result in an increase in
spending.
In 80 percent of most families, the financial story paints a
picture of hard work to get ahead. However, this effort is
for nil because they spend their lives buying liabilities
instead of assets.
By not fully understanding money, the vast majority of
people allow its awesome power to control liabilities.
Assets will be Your Employees
To become financially secure, a person needs to mind their
own business.
The rich focus of their asset columns while everyone else
focuses on their income statements.
Financial struggle is often directly the result of people
working all their lives for someone else. Many people will
simply have nothing at the end of their working days to
show for their efforts.
One of the main reasons net worth is not accurate is simply
because, the moment you begin selling your assets, you are
taxed for any gains.
Once a dollar goes into it, never let come out. Think of it
this way. One dollar goes into your asset column, it
becomes your employee. The best thing about money is
that it works 24 hours a day and can work for generations.
An important distinction is that rich people buy luxuries
last, while the poor and middle class tend to buy luxuries
first.
The poor and middle class buy luxuries with their sweat,
blood, and children’s inheritance.
Middle Class Pay More
Rich people just played the game smart, and he did it
through corporations, the bigger secret of the rich.
The reality is that the rich are not taxed. It is the middle
class who pays for the poor, especially the educated upper
class income middle class.
Every time people try to punish the rich, the rich do not
simply comply. The react. They have the money, power,
and intent to change things. They do not just sit there and
voluntarily pay more taxes.
If you work for money, you give the power to your
employer. If money works for you, you keep the power and
control it.
A person by a corporation can get rich so much faster than
someone who is an employee or a small business sole
proprietor. It is like the difference between someone
walking and someone flying.
Employees earn and get taxed, and they try to live on what
is left. A corporation earns, spends everything I can, and
taxed on anything that is left. It is one of the biggest legal
tax loopholes that the rich use.
Rich People are Creative
Often in the real world, it is not the smart that get ahead,
but the bold.
Old idea are some people’s biggest liability. It is a liability
simply because they fail to realize that while that idea or
way of doing something was an asset yesterday, yesterday
is gone.
Rich people are often creative and take calculated risks.
Why would you want to increase your financial
intelligence? Because you want to be the kind of person
who creates your won luck.
The single most powerful asset we all have in our mind. If
it is trained well, it can create enormous wealth seemingly
instantaneously. An untrained mind can also crate extreme
poverty that can crush a family for generations.
If the opportunity is too complex and I do not understand
the investment, I do not do it. Simple math and common
sense are all you need to do well financially.
The problem with secure investments is that they are often
sanitized, that is, made so safe that the gains are less.
It is not gambling if you know what you are doing. It is
gambling if you are just throwing money into a deal and
paying.
Great opportunities are not seen with your eyes. They are
seen with your mind.
It is what you know that is your greatest wealth. It is what
you do not know that is your greatest risk.
Job Security
Job security meant everything to my educated dad.
Learning meant everything t my rich dad.
We are constantly shocked at how talented people earn. Job
is an acronym for just over broke. Unfortunately that
applies to millions of people.
It is to be recommend to young people to seek work for
what they will learn, more than what they will earn.
Life is much like going to the GYM. The most painful part
is deciding to go. One or get past that, it is easy.
The world is filled with talented poor people. All too often,
they are poor or struggle financially or earn less than they
are capable of, not because of what they know, but because
of what they do not know.
Being technically specialized has its strengths as well as its
weakness.
Rich People Think Different
The main difference between a rich person and a poor
person is how they manage fear.
For most people, the reason they do not win financially is
because the pain of losing money is far greater than the joy
of being rich. Rich people know that failure would only
make him stronger and smarter. It is not that he wanted to
lose. He just knew who he was and how he would take a
loss. He would take a loss and make it a win.
Getting out of the Rat Race is technically ease. It does not
take much education, but those doubts are cripplers for
most people.
I can not afford it is cause sadness, helplessness that leads
to despondency and often depression. How can I afford it?
Opens up possibilities, excitement, and dreams.
If I pay myself first, I get financially stronger, both
mentally and fiscally.
Learn From Each Other to Progress
There is gold everywhere. Most people are not trained to
see it. Without a strong reason or purpose, anything is life
is hard.
Financially, with every dollar we get in our hands, we hold
the poor to choose our future to be rich, poor, or middle
class.
Ninety percent of the population buys TV sets, and only 10
percent buy business books.
Each of us knows people how are highly educated, or
believe they are smart, but their balance sheet paints a
different picture.
I have notice that my friends with money talk about money.
They do not do it to boast. They are interested in the
subject, so I learn from them, and they learn from me.
If you are tied of what you are not making enough, it is
simply a case of changing the formula via which you make
money.
The easy road often becomes hard, and the hard road often
becomes easy.