Guys, welcome to the first two of the ten steps on how to developer your powers. These excerpts below are from Robert Kiyosaki’s book, so make sure you tune into the podcast at the end to hear me explain how you can do it.
If you ask most people if they would like to be rich or financially free, they would say yes. But then reality sets in. The road seems too long with too many hills to climb. It’s easier to just work for money and hand the excess over to your broker.Rich Dad Poor Dad
I once met a young woman who had dreams of swimming for the U.S. Olympic team. The reality was that she had to get up every morning at four o’clock to swim for three hours before going to school. She did not party with her friends on Saturday night. She had to study and keep her grades up, just like everyone else.
When I asked her what fueled her super-human ambition and sacrifice, she simply said, “I do it for myself and the people I love. It’s love that gets me over the hurdles and sacrifices.”
A reason or a purpose is a combination of “wants” and “don’t wants.” When people ask me what my reason for wanting to be rich is, I tell them that it is a combination of deep emotional “wants” and “don’t wants.”
I will list a few: first, the “don’t wants,” for they create the “wants.”
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I don’t want to work all my life. I don’t want what my parents aspired for, which was job security and a house in the suburbs. I don’t like being an employee. I hated that my dad always missed my football games because
he was so busy working on his career. I hated it when my dad worked hard all his life and the government took most of what he worked for at his death. He could not even pass on what he worked so hard for when he died. The rich don’t do that. They work hard and pass it on to their children.
Now the “wants.” I want to be free to travel the world and live in the lifestyle I love. I want to be young when I do this. I want
to simply be free. I want control over my time and my life. I want money to work for me.
Those are my deep-seated emotional reasons. What are yours? Be greater than your reasons. I have lost money and been set back many times, but it was the deep emotional reasons that kept me standing up and going forward. I wanted to be free by age 40, but it took me until I was 47, with many learning experiences along the way.
As I said, I wish I could say it was easy. It wasn’t. But it wasn’t
that hard either. I’ve learned that, without a strong reason or purpose, anything in life is hard.
IF YOU DO NOT HAVE A STRONG REASON, THERE IS NO SENSE READING FURTHER. IT WILL SOUND LIKE TOO MUCH WORK.
Choice is the main reason people want to live in a free country. We want the power to choose.
Financially, with every dollar we get in our hands, we hold the power to choose our future: to be rich, poor, or middle class. Our spending habits reflect who we are. Poor people simply have poor spending habits. The benefit I had as a boy was that I loved playing Monopoly constantly. Nobody told me Monopoly was only for kids, so I just kept playing the game as an adult. I also had a rich dad who pointed out to me the difference between an asset and a liability. So a long time ago, as a little boy, I chose to be rich, and I knew that
all I had to do was learn to acquire assets, real assets. My best friend, Mike, had an asset column handed to him, but he still had to choose.
Most people choose not to be rich. For 90 percent of the population, being rich is too much of a hassle. So they invent sayings that go: “I’m not interested in money.” “I’ll never be rich.” “I don’t have to worry.
I’m still young.” “When I make some money, then I’ll think about my future.” “My husband/wife handles the finances.” The problem with those statements is that they rob the person who chooses to think such thoughts of two things: One is time, which is your most precious asset. The second is learning. Having no money should not be an excuse to not learn. But that is a choice we all make daily: the choice of what we do with our time, our money, and what we put in our heads. That is
the power of choice. All of us have choice. I just choose to be rich, and I make that choice every day.
Invest first in education. In reality, the only real asset you have is your mind, the most powerful tool we have dominion over. Each of us has the choice of what we put in our brain once we’re old enough. You can watch TV, read golf magazines, or go to ceramics class or a class on financial planning. You choose. Most people simply buy investments rather than first investing in learning about investing.
A friend of mine recently had her apartment burglarized. The thieves took her electronics and left all the books. And we all have that same choice. 90 percent of the population buys TV sets, and only about 10 percent buy business books.
So what do I do? I go to seminars. I like it when they are at least two days long because I like to immerse myself in a subject. In 1973, I was watching this guy on TV who was advertising a three-day seminar on how to buy real estate for nothing down. I spent $385 and that course has made me at least $2 million, if not more. But more importantly, it bought me life. I don’t have to work for the rest of my life because of that one course. I go to at least two such courses every year.
I love CDs and audio books. The reason: I can easily review what I just heard. I was listening to an investor say something I completely disagreed with. Instead of becoming arrogant and critical, I simply listened to that five-minute stretch at least 20 times, maybe more. But suddenly, by keeping my mind open, I understood why he said what he said. It was like magic. I felt like I had a window into the mind of one of the greatest investors of our time. I gained tremendous insight into the vast resources of his education and experience.
The net result: I still have the old way I used to think, and I now
have a new way of looking at the same problem or situation. I have two ways to analyze a problem or trend, and that is priceless. Today, I often say, “How would Donald Trump do this, or Warren Buffett or George Soros?” The only way I can access their vast mental power is to be humble enough to read or listen to what they have to say. Arrogant or critical people are often people with low self-esteem who are afraid of taking risks. That’s because, if you learn something new, you are then required
to make mistakes in order to fully understand what you have learned.
If you have read this far, arrogance is not one of your problems. Arrogant people rarely read or listen to experts. Why should they? They are the center of the universe.
There are so many “intelligent” people who argue or defend when a new idea clashes with the way they think. In this case, their so-called intelligence combined with arrogance equals ignorance. Each of us knows people who are highly educated, or believe they are smart, but their balance sheet paints a different picture. A truly intelligent person welcomes new ideas, for new ideas can add to the synergy of other accumulated ideas. Listening is more important than talking. If that were not true, God would not have given us two ears and only one mouth. Too many people think with their mouth instead of listening in order to absorb new ideas and possibilities. They argue instead of asking questions.
I take a long view on my wealth. I do not subscribe to the get-rich-quick mentality most lottery players or casino gamblers have. I may go in and out of stocks, but I am long on education. If you want to fly an airplane, I advise taking lessons first. I am always shocked at people who buy stocks or real estate, but never invest in their greatest asset, their mind. Just because you bought a house or two does not make you an expert at real estate.