-THE RICH DON’T WORK FOR MONEY.
ü Opportunities come and go. Being able to know when to make quick decisions is an important skill.
ü Most of the time, life does not talk to you; it sort of pushes you around and figure out by tour own.
ü Never let the fear of losing overcomes the excitement of winning.
ü Don’t play it safe .Go for it.
ü The poor and the middle class work for money but the rich let money work for them.
ü Learn how money works so it can work for you.
ü True learning takes energy, passion, and a burning desire.(passion =anger + love)
ü You’re taxed when you earn, taxed when you spend, taxed when you save, and taxed when you die.
ü Money won’t change your problems…financial education will.
ü Every person has a weak and needy part in their soul that can be bought.
ü Every person has a resilient and unpriced part in their soul.
ü Don’t react, think!! Use your emotions to think. Don’t think with your emotions.
ü Fear and greed are the two emotions that control the human race.
ü The avoidance of money is just as psychotic as being attached to it.
ü Be an observer and not a reactor to your emotions.
ü A job is just a shot term solution to a long term problem.
ü Controlling fear, neediness, weakness by controlling your thoughts is your only way out.
ü Fear and ignorance about money controls many people’s lives!!
ü It’s not how much money you make, it’s how you keep and how many generations you keep it for.
ü Plant a tree, water it for some years, and then one day it won’t need you anymore. Its roots are implanted deep enough. Then the tree provides shade for your enjoyment.
-WHY TEACH FINANCIAL LITERACY?
Ø Intelligence solves problems and produces money. Money without financial literacy is money soon gone.
Ø If you want to be rich you must be financially literate in words as well as in numbers.
Ø You must know the difference between liabilities and assets and buy assets.
Ø Keep it simple, stupid/ keep it super stupid.(the KISS principle)
Ø An asset puts money in my pocket, a liability take money out of my pocket.
Ø The rich acquire assets, the poor and the middle class acquire liabilities.
Ø Cash flow tells you a story of how someone spends their money.
Ø The fear of being different from others prevents most people from seeking new ways to solve their problems.
Ø Occasionally we need to look at the mirror and be true to our inner wisdom rather than our fears.
Ø An intelligence person always hires people who are more intelligent than him.
Ø Money has a way of making every decision emotional. When it comes to money, high emotions tend to lower financial intelligence.
Ø On the path to financial freedom, concentrate your efforts on buying more assets and minimizing liabilities.
Ø Your wealth- how long would you survive without working.
Ø Wealth measures how much money your money is making and therefore you financial survivability.
-MIND YOUR OWN BUSSINESS.
v The rich focus on their assets column while everyone else is focusing on their income statements.
v Financial struggle is a result of people working for someone all their lives.
v Start minding your own business. Keep your day job and start buying real assets not liabilities.
-TAXES AND THE POWER OF COPORATIONS.
§ Knowledge is power.
§ With money comes great power that requires the right knowledge to keep it and make it multiply.
§ The taxman will always take more if you let him.
§ If you work for money, you give the power to your employer. If money works for you, you keep the power.
§ Grow your financial iq with these expertise;
a. Accounting: The ability to read numbers. The more money you are responsible for the more accurate you need to be.
-The ability to read and understand financial statements which allow you identify the strengths and weaknesses of any business.
b. Investing: The science of money making money. This involves strategies and formulae which use the right side brain.
c. Understanding markets: The science of demand and supply. Does an investment make sense or not depending on the current market conditions?
d. The law: Understanding tax advantages offered by corporations can get you rich. Employees earns, and get taxed and live on what is left, while corporations earns, and spends everything it can and gets taxed what remains.
-THE RICH INVENT MONEY.
Often in the world it’s not the smart who get ahead but the bold.
We all have tremendous potential and gifts but some degree of self doubt holds us back.
It’s all about balls, guts, audacity, bravado, canning, brilliance daring and tenacity more than university degrees and good grades that determine ones future.
Today information is wealth, with the most timely information you own wealth.
Financial intelligence is about how many financial solutions you can come up with to turn a lemon to millions. It’s how creative you are in solving financial problems.
Luck is created, just like money.
The single most powerful asset we have is our mind. If trained well, it can create enormous wealth.
Investments come and go, economies improve and crash. The world is always handing us opportunities of a lifetime every time but all too often we fail to see them.
You’d rather welcome change than cling to the past.
The more you learn the more money you make simply because you gain the courage, experience and wisdom as the years go on.
It’s not gambling if you know what you are doing. It’s gambling if you just throw money to a deal and pray.
Great opportunities are not seen with your eyes, they are seen with your mind.
Most people don’t win because they are afraid of losing.
There is always a risk. Learn to manage it rather than avoiding it.
-WORK TO LEARN. NOT FOR THE MONEY.
® Workers work hard so as not to fired and owners pay them just enough not to quit!
® The reason why so many people are poor is because they work so hard to build a better hamburger and little to learn nothing about the business system.
® The main management skills needed are the management of people, management of the cash flow and the management of the system.
® The better you are at negotiating, communicating and handling your fear of rejection the easier life is.
-OVERCOMING OBSTACLES.
¨ The primary difference between a poor and a rich person lies on how they manage fear.
¨ Arrogance, cynicism, laziness, bad habits and fear are some of the reason a financially literate person may fail to realize abundant assets.
¨ Winning means being unafraid to lose. People are so afraid of losing that they lose.
¨ Failure inspires winners, failure defeats losers.
¨ Finding what people miss is key for any success; cynics never win. Unchecked fear and doubt creates cynicism. Cynics criticize while winners analyze.
¨ It’s not I can’t afford it ( it shuts down the brain); it’s how can I afford it (It opens up possibilities, excitements and dreams)
¨ It’s not about the goal. Learn the process of attaining the goal.
¨ Being a little greedy is the cure for laziness.
¨ Do what you feel is right in your heart for you will be criticized anyway. You are dammed if you do or not anyway.
¨ Our lives are a reflection of our habits more than our education.
¨ What I know makes me money. What I don’t know loses me money.
¨ When you know you are arrogant on a subject, start educating yourself about it. Find an expert in the field or a book on the subject.
¨ There is gold everywhere, but most people are not trained to see it.
-GETTING STARTED.
Þ Find a reason greater than reality; the power of spirit. A reason/purpose is a combination of wants and don’t wants. Without a strong reason and purpose, anything in life is hard.
Þ Make daily choices; the power of choice. Listening is more important than talking thus we have one mouth and two ears.
Þ Do you argue instead of asking questions?
Þ Chose your friends wisely; the power of associations. Don’t listen to poor or frightened people; birds of a feather fly together.
Þ The hardest thing about wealth building is being true to yourself and to be able not to go with the crowd.
Þ It is always the crowd that appears late that is slaughtered.
Þ Wise investors buy an investment when it is not yet popular.
Þ Master the formula and the master a new one; the power of learning quickly. You become what you study.
Þ It’s not how much you know. It’s how fast you learn!
Þ Pay yourself first: the power of self discipline. If you can’t control yourself, don’t try to be rich.
Þ Personal self discipline the number one delineating the rich, the poor and the middle class.
Þ Have the guts to go against the tide and get rich.
Þ If you are not tough inside the world will always push you around.
Þ Pay your broker well; the power of good advice. Find a broker who has your best interests at heart.
Þ Be an Indian giver; the power of getting something from nothing. The sophisticated investor always asks how long it will take to get their money back!(play with the money you can afford to lose)
Þ Use assets to buy luxuries: the power of focus. The easy rod often becomes easier while the easier road often becomes hard.
Þ Choose heroes; the power of myth. Copying/emulating heroes is power; true power learning.
Þ Heroes makes things look easy which makes us want to be like them.
Þ Teach and you shall receive; the power of giving. Give what you want and it will come back in buckets.
Þ The world is a mirror of you.
-SOME DO’S.
1. Stop doing what you are doing; Take a break and access what is working and what is not.
2. Look for new ideas; most people do not take action or they let someone talk them out of whatever formula they are studying.
3. Find someone who has done what you want to do.
4. Take classes, read and attend seminars; search the internet, newspapers for new and interesting ideas.
5. Make lots of offers; You don’t know what the right price is until you have a second party who wants to deal.
6. Jog, walk or drive a certain area once a month for ten minutes; there are lot of bargains but it’s change that turns a bargain profitable.
7. Look in the right places.
8. Shop for bargains in all markets; profits are always made from buying and not selling.
9. Look for people who want to buy first, and then look for someone who wants to sell; but a pie and cut it into pieces.
10. Think big; small people remain small because they think small, act alone or do not act at all.
11. Learn from history.
12. Take action; action always beats inaction. You must take action before you can receive financial stability.