Post by bounce on Sept 27, 2007 9:49:51 GMT -8
Half of my posts will deal with what to think and half will deal with what you have to STOP THINKING.
This post explains a little of each.
This is a synopsis of a story I originally read in a book written by Robert Kiyosaki and I copy it here verbatim from my e-book "The Rules of Money."
Rule # 28. Don’t haul buckets, build pipelines
I am going to paraphrase a fable I read in a book written by Robert Kiyosaki. I don’t remember exactly which book he wrote it in and this is my rendition of the story, but in the end, the moral will be clear.
There was a quaint village that had no running water. It was a great place to live, but the villagers had to carry their own water from a nearby lake.
The village elders got together and decided to offer a contract to have water delivered to the village center. The villagers could fund this contract as they purchased the water that was delivered.
Two people applied for the contract and the elders decided to award the same contract to BOTH of the bidders. They figured a little competition would be good for both service and price.
One of the successful bidders immediately went to the hardware store, bought two stainless steel buckets and a wooden pole and started hauling water from the lake to the village center. He hauled buckets of water from dawn to dusk from Monday through Friday. By the weekend, he was so tired he could hardly get off his couch. However, come Monday morning he was out there bright and early hauling buckets all over again. Although he never had made more money in his life, he was working as hard as he possibly could. (does this sound familiar? - lol)
The other bid award winner took the last of his savings and hired an engineering firm. They proved that it was possible to build a pipeline from the lake to the village center. They designed the pipeline, they engineered it and they itemized exactly what would be required to construct it.
He approached some investors and explained his plan. He showed them his business plan, the engineering report and the contract he had been awarded to deliver water. He was in possession of everything he needed, except the money.
He told the investors that he would assign everything he had to them IF they would be willing to pay him one penny for every bucket of water that ever came out of the pipeline. They studied his plan, his engineering report, and his contract and then agreed to his terms.
The pipeline was constructed. On opening day, the investors dropped the existing price of water by 50% and advertised the unlimited clean water that would now be available to the villagers.
The people cheered and eagerly purchased the cheaper, cleaner water from the group of investors. It seems the other guy’s water had some grit in it because of dust he would inadvertently kick up as he carried water back and forth from the lake to the village. Plus, by Monday morning the water container in the village center was almost always empty.
The business venture was a big success and armed with that success, he went to the next village and showed them his plan. Within five years, every village in the region had a pipeline delivering water to it. He retired at a very early age and continued to receive a penny for every bucket of water that was delivered through all of the pipelines for the remainder of his life. The End.
The moral to the story: If you want to be financially free of a job, you’ve got to stop hauling buckets and spend your time and effort building pipelines. GET OUT of the Overtime pay is a great deal mentality. It’s NOT! Receiving more money per minute is NOT the answer and will not lead to financial freedom.
Remember a lesson from Rule #6:
If you want to change your situation, you must first change the way you think.
If you want to change your situation, you must first change the way you think.
If you want to change your situation, you must first change the way you think.
Before I agree to ANY deal I ask myself the following question:
Is what I am considering more akin to building a financial pipeline (effortless, passive income), or am I simply hauling financial buckets (earned income).
Get into the habit of building financial pipelines. (to fellow airline pilots) Being an airline pilot is the quintessential bucket-hauling job. You will never be truly financially free by renting the best years of your life to some company by the minute. It doesn’t matter what they’re paying you.
So, think of the words “Overtime pays time and a half.” Does that idea still sound good to you? You need to kill that idea because it stands in the way of your financial freedom. More money per hour is NOT the answer. I’m serious. Kill that idea, because it’s killing your financial future.
This post explains a little of each.
This is a synopsis of a story I originally read in a book written by Robert Kiyosaki and I copy it here verbatim from my e-book "The Rules of Money."
Rule # 28. Don’t haul buckets, build pipelines
I am going to paraphrase a fable I read in a book written by Robert Kiyosaki. I don’t remember exactly which book he wrote it in and this is my rendition of the story, but in the end, the moral will be clear.
There was a quaint village that had no running water. It was a great place to live, but the villagers had to carry their own water from a nearby lake.
The village elders got together and decided to offer a contract to have water delivered to the village center. The villagers could fund this contract as they purchased the water that was delivered.
Two people applied for the contract and the elders decided to award the same contract to BOTH of the bidders. They figured a little competition would be good for both service and price.
One of the successful bidders immediately went to the hardware store, bought two stainless steel buckets and a wooden pole and started hauling water from the lake to the village center. He hauled buckets of water from dawn to dusk from Monday through Friday. By the weekend, he was so tired he could hardly get off his couch. However, come Monday morning he was out there bright and early hauling buckets all over again. Although he never had made more money in his life, he was working as hard as he possibly could. (does this sound familiar? - lol)
The other bid award winner took the last of his savings and hired an engineering firm. They proved that it was possible to build a pipeline from the lake to the village center. They designed the pipeline, they engineered it and they itemized exactly what would be required to construct it.
He approached some investors and explained his plan. He showed them his business plan, the engineering report and the contract he had been awarded to deliver water. He was in possession of everything he needed, except the money.
He told the investors that he would assign everything he had to them IF they would be willing to pay him one penny for every bucket of water that ever came out of the pipeline. They studied his plan, his engineering report, and his contract and then agreed to his terms.
The pipeline was constructed. On opening day, the investors dropped the existing price of water by 50% and advertised the unlimited clean water that would now be available to the villagers.
The people cheered and eagerly purchased the cheaper, cleaner water from the group of investors. It seems the other guy’s water had some grit in it because of dust he would inadvertently kick up as he carried water back and forth from the lake to the village. Plus, by Monday morning the water container in the village center was almost always empty.
The business venture was a big success and armed with that success, he went to the next village and showed them his plan. Within five years, every village in the region had a pipeline delivering water to it. He retired at a very early age and continued to receive a penny for every bucket of water that was delivered through all of the pipelines for the remainder of his life. The End.
The moral to the story: If you want to be financially free of a job, you’ve got to stop hauling buckets and spend your time and effort building pipelines. GET OUT of the Overtime pay is a great deal mentality. It’s NOT! Receiving more money per minute is NOT the answer and will not lead to financial freedom.
Remember a lesson from Rule #6:
If you want to change your situation, you must first change the way you think.
If you want to change your situation, you must first change the way you think.
If you want to change your situation, you must first change the way you think.
Before I agree to ANY deal I ask myself the following question:
Is what I am considering more akin to building a financial pipeline (effortless, passive income), or am I simply hauling financial buckets (earned income).
Get into the habit of building financial pipelines. (to fellow airline pilots) Being an airline pilot is the quintessential bucket-hauling job. You will never be truly financially free by renting the best years of your life to some company by the minute. It doesn’t matter what they’re paying you.
So, think of the words “Overtime pays time and a half.” Does that idea still sound good to you? You need to kill that idea because it stands in the way of your financial freedom. More money per hour is NOT the answer. I’m serious. Kill that idea, because it’s killing your financial future.