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『Rich Dad’s CASHFLOW Quadrant』(1998）
■Part Ⅲ How TO Become A Successful “B” and “I”
The 7 Steps TO Finding Your Financial Fast Track (p.287-348)
1.It’s time to mind your own business.
2.Take control of your cash flow.
3.Know the difference between risk and risky
4.Decide what kind of investor you want to be.
6.Make disappointment you strength.
7.The power of faith
1) Good debt and Bad debt
Rich dad often cautioned me about “good debt and bad debt.”
He would often say, “Every time you owe someone money,
you become an employee of their money. If you take out a
30 year loan, you’ve become a 30 year employee, and
they do not give you a gold watch when the debt is retired.”
Rich dad did borrow money, but he did his best to not
become the person who paid for his loans. He would explain
to his son and me that good debt was debt that someone else
paid for you, and bad debt was debt that you paid for with your
own sweat and blood. That is why he loved rental properties.
He would encourage me to buy rental property because
“the bank gives you the loan, but your tenant pays for it.”
2) Financial Intelligence
I often hear people saying, “Investing is risky.”
I disagree. Instead I say, “Being uneducated is risky.”
Rich dad had many definitions for “financial intelligence,”
such as “the ability to convert cash or labor into assets
that provide cash flow.”
But one of his favorite definitions was,
“Who is smarter? You or your money?”
3) Problems lead to opportunities
I think people like the word “challenges” more than
“problems” because they think one word sounds more
positive than the other. Yet, to me, the word “problem”
has a positive meaning, because I know that inside of
every problem lies an “opportunity,” and opportunities
are what real investors are after. And with every financial
or business problem I address, regardless of whether I solve
the problem, I wind up learning something. I may learn
something new about finance, marketing, people or legal
affairs. I often meet new people who become invaluable
assets on other projects. Many become lifelong friends
which is a priceless bonus.
4) Seek Mentors
A mentor is someone who tells you what is important
and what is not important.
Professionals have coaches. Amateurs do not.
5) Be prepared to be disappointed.
Instead of avoiding disappointment, be prepared for it.
Disappointment is an important part of learning.
Just as we learn from our mistakes, we gain character
from our disappointments.
↑Thank You for One Click
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