I have been reading and absorbing a lot of material from Robert Kiyosaki, and it is amazing how you will learn a lot of valuable insights regarding making money, long term. For the next couple of weeks, I will be focusing on strategies, thinking patterns and ways which wealthy people behave and conduct their businesses. The most important thing is to MIND YOUR OWN BUSINESS. Yes, be mindful of what you want in future. Failure to plan, is a plan to fail. The Bible clearly states that one should, “… Write the vision down and make it plain on tablets, that he may run who reads it. For the vision is yet for an appointed time; but at the end it will speak, it will not lie. Though it tarries, wait for it; because it will surely come, it will not tarry”. Habakkuk 2:2-3.
So it is important to write down your financial goals and your exit strategy- whether you want to exit poor, middle-class, affluent, rich or super-rich. When you write what you want you will be able to make a plan, and search for interesting ventures in which to invest.
So where do we start?
You have to start with the leverage of your mind. Your reality is what will determine how far your context expands or remain . As Rich Dad states, rich people do the same things poor and middle class people do, except they shop for businesses, investments, real estate, stocks, bonds and other business opportunities. Poor and middle class people shop for discounts all the time. You should understand that many rich people started off with nothing. The thing that set them apart from the rest of their struggling companions is, instead of saying, “I can’t afford this property”, they said, “How can I afford this property?”.
As the first article in the ‘Rich You’ series, I want to focus on a few ways of leverage and how they are beneficial for building your wealth. After reading these lessons I agreed wholeheartedly with Mr. Kiyosaki. Please take a moment to really absorb what you are about to read and decide what you want.
If you do not respect your health you may as well forget enjoying a fulfilling and rich life. Your health is actually a pre-requisite to enjoying a lot of things in life. For example, if you continue smoking, drinking and getting few hours of sleep and you do not exercise, eat whatever you want you are harming your health. Eventually you will lose energy, you will become sick, attract negative friends and energy and then instead of enjoying your retirement you will spend all the money you invested on hospital bills.
It is important to have scholastic and professional education, but FINANCIAL EDUCATION IS A MUST. A person who graduates with little financial education will be surpassed by someone with financial education. A high paying job with little financial education will put the person in deep debt. Financial education will help you retire young and rich- also, it will help you to seek out opportunities that others cannot see.
Relationships are so important here. If your friends cannot see beyond the norm then you have to start hanging out more often, with people who are looking to become wealthy. If you date or marry someone who does not want to become wealthy then you sticking around, may hinder you to a large extent. I am not saying you must break up with that person. I am simply trying to show you that decision making, if you are married will be more difficult. Remember that the rich have an OPPOSITE mindset to how most people think. Someone with a RICH MINDSET is willing to sacrifice a few years, using their money to invest in long term projects, as opposed to someone with a POOR MINDSET, who believes in higher job wages and squandering money as soon as he/she gets it, in fear that it will not always be around. Imagine a couple with different mindsets. That’s a recipe for disaster. And stay away from naysayers. Expand your mind.
Find the right tools. The internet is a powerful form of leverage. Use it to your advantage. Whatever forms of leverage you can use, take advantage of.
What do you do in your spare time? Do you spend most of it in frivolity or pursuing the things which you aspire to have? Think about how much time you waste doing nothing at all. It is your future at stake. Make the necessary changes and decide what you want.
Guidelines taken from “Retire Rich, Retire Young” by Robert Kiyosaki with Sharon L. Lechter.