Now, I will admit that there are people I have actually sought out because they had money. But I was not after their money; I was seeking their knowledge. In some cases, these people who had money have become dear friends. I’ve noticed that my friends with money talk about money. They don’t do it to brag. They’re interested in the subject. So I learn from them, and they learn from me. My friends who are in dire financial straits do not like talking about money, business, or investing. They often think it rude or unintellectual. So I also learn from my friends who struggle financially. I find out what not to do.Rich Dad Poor Dad
Some people are just so ignorant.
My intuition nudged at me a few months ago about a guy who made a ridiculous comment through a text message. So, I blocked him, but after going to a business where we have mutual business partners, he was there. I decided to unblock him and give him a chance — but after I caught him in a couple of lies and he tried throwing me under the bus by throwing a long-term business partnership in flames….I backed off.
Then there was an ignorant comment such as, “oh, I guess it didn’t feel good making less than ________ baht this month.”
First, never talk about a black man’s money.
Two, why would you even make a jaw-dropping, head-scratching ridiculous remark like that?
Three, Hold this BLOCK.
In this podcast, I talk about NEVER IGNORING THE INTUITION. If someone makes a comment straight off the back and something tells you “I don’t like this person,” that voice is your intuition and you should listen to it.
Business English podcast is back! And it’s back with a BANG!
I know, some of you are saying “retirement?! I’m trying to survive!” However, when your fight-or-flight system is engaged, your perception of life could also be foggy. This could be dangerous because you don’t have the end in mind/keeping your eye on the prize. When the dust is settled, dozens of countries will be trillions in debt; Disney has furloughed tens of thousands of employees; airlines have collapsed; and it continues to get worse.
People are saying “life will never be the same anymore!” Yeah, maybe it’s time for you to change your game. Perhaps it’s time for you to stop working for someone and begin working for yourself. We’re living in interesting times now with lots of downtime and time to also develop skills. So, it’s time to start thinking things through.
In the business english premium podcast, which is available down below in the link ($10 dollars a month or $100 dollars a year) you’re going to hear me discuss about retirement planning, emails from people who are looking into investment advisors, and also be able to work in potential groups and discuss different retirement products for a specific individual. And, after all that is finished, a listening!
Don’t miss out! My business English podcast is FIRE!
Have you taken a moment and looked around on a train and wondered why that one particular person was having a full conversation on the phone while everyone else was listening in on it?
When it comes to mobile phone etiquette, people lack it in so many different ways. I understand, having a student who runs multiple businesses is difficult because she would have to pick up the phone maybe 5 times per outing. However, there are times when you’re at the gym, restaurant, supermarket, crowded public areas, and CINEMAS — when you SHOULDN’T pick up the phone!
In today’s Business English podcast, that’s what we’ll be discussing. You will also take a test and see where your etiquette skills are.
Tune in down below in the link!
My point is that it’s those doubts and cynicism that keep most people poor and playing it safe. The real world is simply waiting for you to get rich. Only a person’s doubts keep them poor. As I said, getting out of the Rat Race is technically easy. It doesn’t take much education, but those doubts are cripplers for most people.
“Cynics never win,” said rich dad. “Unchecked doubt and fear creates a cynic.” “Cynics criticize, and winners analyze” was another of his favorite sayings. Rich dad explained that criticism blinded while analysis opened eyes. Analysis allowed winners to see that critics were blind, and to see opportunities that everyone else missed. And finding what people miss is key to any success.Rich Dad Poor Dad
This is a story of my life. Am I playing it safe by staying here in Thailand for 7 years? Full story in podcast down below.
Real estate is a powerful investment tool for anyone seeking
financial independence or freedom. It is a unique investment tool.
Yet every time I mention real estate as a vehicle, I often hear, “I don’t want to fix toilets.” That’s what Peter Lynch calls noise. That’s what
my rich dad would say is the cynic talking, someone who criticizes and does not analyze, someone who lets their doubts and fears close their mind instead of open their eyes.
So when someone says, “I don’t want to fix toilets,” I want to fire back, “What makes you think I want to?” They’re saying a toilet is more important than what they want. I talk about freedom from the Rat Race, and they focus on toilets. That is the thought pattern that keeps most people poor. They criticize instead of analyze.
“I-don’t-wants hold the key to your success,” rich dad would say. Because I, too, do not want to fix toilets, I shop hard for a property manager who does fix toilets. And by finding a great property manager who runs houses or apartments, well, my cash flow goes up. But, more importantly, a great property manager allows me to buy a lot more real estate since I don’t have to fix toilets. A great property manager is key to success in real estate. Finding a good manager is more important to me than the real estate. A great property manager often hears of great deals before real estate agents do, which makes them even more valuable.
“The sky is falling! The sky is falling!” Most of us know the story of Chicken Little who ran around warning the barnyard of impending doom. We all know people who are that way. There’s a Chicken Little inside each of us.
As I stated earlier, the cynic is really a little chicken. We all get a little chicken when fear and doubt cloud our thoughts. All of us have doubts: “I’m not smart.” “I’m not good enough.” “So-and-so is better than me.” Our doubts often paralyze us. We play the “What if?” game. “What if the economy crashes right after I invest?” “What if I lose control and I can’t pay the money back?” “What if things don’t go as I planned?” Or we have friends or loved ones who will remind us of our shortcomings. They often say, “What makes you think you can do that?” “If it’s such a good idea, how come someone else hasn’t done it?” “That will never work. You don’t know what you’re talking about.” These words of doubt often get so loud that we fail to act. A horrible feeling builds in our stomach. Sometimes we can’t sleep. We fail to move forward. So we stay with what is safe, and opportunities pass us by. We watch life passing by as we sit immobilized with a cold knot in our body. We have all felt this at one time in our lives, some more than others.
When violence breaks out in a city, gun sales go up all over the country. A person dies from rare hamburger meat in the state of Washington, and the Arizona Health Department orders restaurants to have all beef cooked well-done. A drug company runs a TV commercial in February showing people catching the flu. Colds go up as well as sales of cold medicine.
Most people are poor because, when it comes to investing, the world is filled with Chicken Littles running around yelling, “The sky
is falling! The sky is falling!” And Chicken Littles are effective, because every one of us is a little chicken. It often takes great courage to not
let rumors and talk of doom and gloom affect your doubts and fears. But a savvy investor knows that the seemingly worst of times is actually the best of times to make money. When everyone else is too afraid to act, they pull the trigger and are rewarded.
This is another MASSIVELY monumental moment for me. For the first time since the ESL podcast’s inception, I will be creating a premium ESL podcast on a new Canadian Startup site called mocha.fm. I’m unbelievably excited about this because I was reached out to from an individual from China who’s doing his BA and graduating Waterloo University in Canada. Him, and a band of team-members, created this unbelievable premium podcasting site that gives creators, such as myself, an amazing opportunity to profit and monetize with everything I’ve been doing so far.
Now, some of you may know already about my Patreon. I wouldn’t so much consider it to be a failure, but I haven’t been advertising it much at all and I would have to shove it down the throats of my listeners to get them to subscribe. Now, having a premium podcast and launching exclusive content is going to be unbelievably key. Oh, and completely different from what I’m doing now.
Because I’m in the Advanced Level of my ESL podcast, there isn’t a next level after this. In fact, I would be switching back to the lower levels while kicking off business English.
Well, for 10$ a month, you’ll be able to access my exclusive business English course (and will be different from the business English course I will launch around May of this year), firsthand, and learn a variety of different things. Well, some of you may be asking: “what’s the difference?” Well, here are some of the things I’ll be featuring in my business English course down below.
- Developing Fluency
- Phrase Bank
- Roleplay (International Guest Speakers
- Workplace Scenarios
As the levels go up, there will be more context, HR, Logistics, Working Across Cultures, Banking and other things implemented. There are so many things to cover within Business English, so this will surely be a 6-season gauntlet that will last for a minimum 3 years.
Nonetheless, I’ll be letting everyone know what’s the premium podcast debuts! Also, I’ll discuss further for any ad-ons and implementations.
In 1974, Ray Kroc, the founder of McDonald’s, was asked to speak to the MBA class at the University of Texas at Austin. A friend of mine was a student in that MBA class. After a powerful and inspiring talk, the class adjourned and the students asked Ray if he would join them at their favorite hangout to have a few beers. Ray graciously accepted.
“What business am I in?” Ray asked, once the group had all their beers in hand.
“Everyone laughed,” my friend said. “Most of the MBA students thought Ray was just fooling around.”
No one answered, so Ray asked again, “What business do you think I’m in?”
The students laughed again, and finally one brave soul yelled out, “Ray, who in the world doesn’t know that you’re in the hamburger business?”
Ray chuckled. “That’s what I thought you would say.” He paused and then quickly added, “Ladies and gentlemen, I’m not in the hamburger business. My business is real estate.”Rich Dad Poor Dad
As my friend tells the story, Ray spent a good amount of time explaining his viewpoint. In his business plan, Ray knew that the primary business focus was to sell hamburger franchises, but what he never lost sight of was the location of each franchise. He knew that the land and its location were the most significant factors in the success of each franchise. Basically, the person who bought the franchise was also buying the real estate under the franchise for Ray Kroc’s organization.
Today, McDonald’s is the largest single owner of real estate in the world, owning even more than the Catholic church. McDonald’s owns some of the most valuable intersections and street corners in America and around the globe.
My friend considers this as one of the most important lessons in his life. Today he owns car washes, but his business is the real estate under those car washes.
The previous chapter presented diagrams illustrating that most people work for everyone but themselves. They work first for the owners of the company, then for the government through taxes, and finally for the bank that owns their mortgage.
When I was a young boy, we did not have a McDonald’s nearby. Yet my rich dad was responsible for teaching Mike and me the
same lesson that Ray Kroc talked about at the University of Texas.
It is secret number three of the rich. That secret is: Mind your own business. Financial struggle is often directly the result of people working all their lives for someone else. Many people will simply have nothing at the end of their working days to show for their efforts.
Our current educational system focuses on preparing today’s youth to get good jobs by developing scholastic skills. Their lives will revolve around their wages or, as described earlier, their income column. Many will study further to become engineers, scientists, cooks, police officers, artists, writers, and so on. These professional skills allow them to enter the workforce and work for money.Rich Dad Poor Dad
Wealth is a person’s ability to survive so many number of days forward—or, if I stopped working today, how long could I survive?
Unlike net worth—the difference between your assets and liabilities,
which is often filled with a person’s expensive junk and opinions of what
things are worth—this definition creates the possibility for developing
a truly accurate measurement. I could now measure and know where I was in terms of my goal to become financially independent.
Although net worth often includes non-cash-producing assets, like stuff you bought that now sits in your garage, wealth measures how much money your money is making and, therefore, your financial survivability.
Wealth is the measure of the cash flow from the asset column compared with the expense column.
Let’s use an example. Let’s say I have cash flow from my asset column of $1,000 a month. And I have monthly expenses of $2,000. What is my wealth?
Let’s go back to Buckminster Fuller’s definition. Using his definition, how many days forward can I survive? Assuming a 30-day month, I have enough cash flow for half a month.
When I achieve $2,000 a month cash flow from my assets, then I will be wealthy.
My next goal would be to have the excess cash flow from my assets reinvested into the asset column. The more money that goes into my asset column, the more my asset column grows. The more my assets grow, the more my cash flow grows. And as long as I keep my expenses less than the cash flow from these assets, I grow richer with more and more income from sources other than my physical labor.
As this reinvestment process continues, I am well on my way to becoming rich. Just remember this simple observation:
- The rich buy assets
- The poor buy expenses
- The middle class buy liabilities they think are assets
In summary, the end result in making a decision to own a house that is too expensive in lieu of starting an investment portfolio impacts an individual in at least the following three ways:
- Loss of time, during which other assets could have grown in value.
- Loss of additional capital, which could have been invested instead of paying for high-maintenance expenses related directly to the home.
Loss of education. Too often, people count their house
and savings and retirement plans as all they have in their asset column. Because they have no money to invest, they simply don’t invest. This costs them investment experience. Most never become what the investment world calls “a sophisticated investor.” And the best investments are usually first sold to sophisticated investors, who then turn around and sell them to the people playing it safe.
I am not saying don’t buy a house. What I am saying is that you should understand the difference between an asset and a liability. When I want a bigger house, I first buy assets that will generate the cash flow to pay for the house.
My educated dad’s personal financial statement best demonstrates the life of someone caught in the Rat Race. His expenses match his income, never allowing him enough left over to invest in assets. As a result, his liabilities are larger than his assets.