Post by bounce on Sept 29, 2007 7:59:00 GMT -8
I was in my early 40s when I finally made the decision to change my financial life.
One day I realized (all at once) that depending on an employer or the government was a loser's game. I knew that I needed to start thinking differently than all my homies.
Once I made that decision, my life could never be the same.
I started reading and learning and reading and learning. What I found out is that most "experts" don't know the first thing about financial independence. I learned that if I wanted to do something, I needed to find someone who has already done it and pick their brain. I needed to learn what they think, and think it. I needed to learn what they do and do it.
That's when I found Robert Kiyosaki's book Rich Dad, Poor Dad.
You have to consume that book.
In it he describes a mentality that a 9-year old could comprehend.
The one major idea that I got from that book was something called "Passive Income."
Passive Income is the answer to financial independence.
The idea is to acquire things that PAY YOU because you own them, not COST YOU because you own them.
Most people own NOTHING that writes them a check each month.
By that I mean that they own NOTHING that writes them a check with no additional effort on their part.
My basic plan has been to acquire things that pay me just because I own them.
I have purchased these things with my money.
I have purchased these things with other peoples' money.
I have created them from scratch using NO MONEY at all.
If you work diligently toward acquiring things that PAY YOU every month, there will come a day when you own so many things that pay you SOOOOOOO Gd much money, that you will develop "eye trouble."
"Eye Trouble" is when you wake up one day and say, "Man, I just can't see going to work anymore."
I reached that point after about seven years of part-time effort (once I got serious).
I say "Part Time" because I had a full-time job at the time and I worked on my plan in my off time, but there was NEVER A DAY that I didn't do SOMETHING toward the effort of acquiring assets.
I hate to use the word "assets" at this point because you don't know what I mean when I use that word.
An "asset" (to me and all readers of Kiyosaki) is something that pays you for owning it.
A "liability" is something that costs you for owning it.
Your house is a liability. Your cars are liabilities. You probably don't own a single "asset" at this point.
Once you get into the mentality of looking for the cash-flow and watching which direction it flows, it's a fairly simple matter of putting yourself on the side of the equation where it FLOWS TO YOU.
Do that, keep doing that, continue to keep doing that, and eventually you won't have to work again. You will get to the point where you never have to depend on a corporation or the government for your well-being.
Keep going beyond that point and you will be worth millions before you know it.
I am living proof.
One day I realized (all at once) that depending on an employer or the government was a loser's game. I knew that I needed to start thinking differently than all my homies.
Once I made that decision, my life could never be the same.
I started reading and learning and reading and learning. What I found out is that most "experts" don't know the first thing about financial independence. I learned that if I wanted to do something, I needed to find someone who has already done it and pick their brain. I needed to learn what they think, and think it. I needed to learn what they do and do it.
That's when I found Robert Kiyosaki's book Rich Dad, Poor Dad.
You have to consume that book.
In it he describes a mentality that a 9-year old could comprehend.
The one major idea that I got from that book was something called "Passive Income."
Passive Income is the answer to financial independence.
The idea is to acquire things that PAY YOU because you own them, not COST YOU because you own them.
Most people own NOTHING that writes them a check each month.
By that I mean that they own NOTHING that writes them a check with no additional effort on their part.
My basic plan has been to acquire things that pay me just because I own them.
I have purchased these things with my money.
I have purchased these things with other peoples' money.
I have created them from scratch using NO MONEY at all.
If you work diligently toward acquiring things that PAY YOU every month, there will come a day when you own so many things that pay you SOOOOOOO Gd much money, that you will develop "eye trouble."
"Eye Trouble" is when you wake up one day and say, "Man, I just can't see going to work anymore."
I reached that point after about seven years of part-time effort (once I got serious).
I say "Part Time" because I had a full-time job at the time and I worked on my plan in my off time, but there was NEVER A DAY that I didn't do SOMETHING toward the effort of acquiring assets.
I hate to use the word "assets" at this point because you don't know what I mean when I use that word.
An "asset" (to me and all readers of Kiyosaki) is something that pays you for owning it.
A "liability" is something that costs you for owning it.
Your house is a liability. Your cars are liabilities. You probably don't own a single "asset" at this point.
Once you get into the mentality of looking for the cash-flow and watching which direction it flows, it's a fairly simple matter of putting yourself on the side of the equation where it FLOWS TO YOU.
Do that, keep doing that, continue to keep doing that, and eventually you won't have to work again. You will get to the point where you never have to depend on a corporation or the government for your well-being.
Keep going beyond that point and you will be worth millions before you know it.
I am living proof.