Yesterday we did 1 in case you missed it 👉On your mark. Today we explore more.
Most people live their lives chasing pay checks, pay raises and job security because of the emotions of desire and fear, not really questioning where those emotion driven thoughts are leading them. To spend your life living in fear, never exploring your dreams is cruel. To work hard for money thinking that money will buy you things that will make you happy, is also cruel. To wake up in the middle of the night terrified about paying bills is a horrible way to live. To live a life dictated by the size of a paycheck is not really a life! Thinking that a job will make you feel secure is lying to yourself.
Majority of us are in rat race. This is where you work for the government paying taxes, work for owners of companies, work for banks paying off mortgages and credit cards. You offered more money but continue the cycle by increasing your spending. Well my most valuable lessons learnt from Kiyosaki are here….get set….
1) The Rich Don’t Work for Money
If you want to be rich, you have to learn to make money. The poor and middle class work for money while the rich have money work for them. If you’re the kind of person who has no guts, you just give up every time life pushes you then you live all your life playing it safe, doing the right things, saving yourself for some event that never happens. So you die a boring old man, have a lot of buddies who really like you because you were such a nice hardworking guy. You spent life playing it safe, doing the right things but truth is you let life push you into submission.
Learn to use your emotions to think not think with your emotions. Use your emotions and mind in your favor not against yourself. Example: when you say I need a job it’s most likely an emotion doing the thinking. Fear of not having money generates that thought. Life is the best teacher of all. Most of the time, life does not talk to you. It just sort of pushes you around. Each push is life saying “wake up. There’s something I want you to learn.”
Poor dad said: I’ll never be rich, money doesn’t matter. Rich dad said: am rich, money is power, I don’t work for money, money works for me.
2) Keep It Simple Stupid(KISS)
People have been getting richer and richer, but in the long run it’s not how much you make; it’s how much you keep and how many generations you keep it. Students work harder but don’t get ahead. What is missing from their education is not how to make money but how to spend money- financial aptitude ( what you do with the money once you make it, how to keep people from taking it from you, how long you keep it and how hard that money works for you.)
Know the difference between an asset and a liability and buy assets. In short invest in more assets that generate income than expenses that take away from you. Have those Japanese powers that are most valued: sword(weapons), jewel(money) and mirror( self knowledge). Fear of being different prevents people from seeking new ways to solve their problems. Financial problems are caused by going along with the crowd and trying to keep up with what everyone is doing. There is need to look into the mirror and be true to our inner wisdom.
3) Mind Your Own Business
What is your business? I call it side hustle. Do not confuse profession with business. Hmmm how frequent we mismatch the two. The mistake in becoming what you study is that too many people forget to mind their own business.
You can mind this business by investing in real assets those that do not require your presence, anything that has value, produces income or appreciates and has a ready market. Examples of assets can be stocks, bonds, mutual funds, income generating and real estate, royalties, notes(IOUs) etcetera. Buy luxuries last not first. Did your hear me? Last!
3 more lessons to go. Yippee. Next we gonna look at our financial IQ. Yes we all got that genius factor. Keep it right here for that👐