Rich Dad Poor Dad | S5 – E50 | Lesson VIII | Teach & You Shall receive – The power of giving

If I could leave one single idea with you, it is that idea. Whenever you feel short or in need of something, give what you want first and it will come back in buckets. That is true for money, a smile, love, or friendship. I know it is often the last thing a person may want to do, but it has always worked for me. I trust that the principle of reciprocity is true, and I give what I want. I want money, so I give money, and it comes back in multiples. I want sales, so I help someone else sell something, and sales come to me. I want contacts, and I help someone else get contacts. Like magic, contacts come to me. I heard a saying years ago that went: “God does not need to receive, but humans need to give.”

Rich Dad Poor Dad

If you need money, help people receive money. If you need coaches or people to join your podcast, refer others over to your friends platforms. Need a new job? Help others get jobs. This is how the compound effect works.

Often just the process of thinking of what I want, and how I could give that to someone else, breaks free a torrent of bounty. Whenever I feel that people aren’t smiling at me, I simply begin smiling and saying hello. Like magic, the next thing I know I’m surrounded by smiling people. It is true that your world is only a mirror of you.

So that’s why I say, “Teach, and you shall receive.” I have found that the more I teach those who want to learn, the more I learn. If you want to learn about money, teach it to someone else. A torrent of new ideas and finer distinctions will come in.

There are times when I have given and nothing has come back, or what I have received is not what I wanted. But upon closer inspection and soul searching, I was often giving to receive in those instances, instead of giving for the joy that giving itself brings.

Podcast

In this episode, I talk about how people get into FAD or PWM (people without money) markets.

For example, Bitcoin was a FAD market. In 2018, the hysteria was insane. You had people making podcasts, videos, etc….and they all fell for it. Sure, Bitcoin still exists today, but the hysteria has gone away and the voices are now silent.

I read a post on FB yesterday that someone I knew once tried creating a business for new grads. Well, if you just graduated from university, more than likely you’re in debt — therefore, you’re in a PWM market. I’m not lucky, but when I entered the ESL space, I knew that this was a billion-dollar industry with a massive opportunity to go to AR/VR in the future with an insane amount of collaborations. So, because I’m worldwide, I’m not reliant on economies that have deteriorated (Thailand and probably have the countries on planet Earth). There are economies that are surging, at the moment, and because I’m a trainer and have specific skill-sets, I attract those individuals because I have assets.

I’m in a People-With-Money market. This is something you need to consider before starting a business.

Tune in!

Topic: Spotify Takes A Heavy-hitter; YouTube is in Trouble

A podcaster/pseudo-comedian (shots fired) by the name of Joe Roegan signed a $100 million-dollar contract with Spotify a few days ago. What does this mean? Spotify literally just stole not only one of the top YouTubers away but also destroyed Google and Apple podcasts. He will have to take all of his content off YouTube (except micro-snippets he can put on to promote) and move it to Spotify. Did Spotify lose 100 million? No, their market share skyrocketed and they profited 5 billion! What does this mean for YouTube, a company that has been de-platforming individuals for free-speech and perpetuate bullying, harassment, and trolling? Well, this could mean the end. LISTEN IN!

RICH DAD POOR DAD | S5 – E48 | LESSON VIII | 10 STEPS TO DEVELOP YOUR POWERS #5 pAY yoURSELF fIRST

If you cannot get control of yourself, do not try to get rich. It makes no sense to invest, make money, and blow it. It is the lack of self-discipline that causes most lottery winners to go broke soon after winning millions. It is the lack of self-discipline that causes people who get a raise to immediately go out and buy a new car or take a cruise.

It is difficult to say which of the 10 steps is the most important. But of all the steps, this step is probably the most difficult to master if it is not already a part of your makeup. I would venture to say that personal self-discipline is the number-one delineating factor between the rich, the poor, and the middle class.

Simply put, people who have low self-esteem and low tolerance for financial pressure can never be rich. As I have said, a lesson learned from my rich dad was that the world will push you around. The world pushes people around, not because other people are bullies, but because the individual lacks internal control and discipline. People who lack internal fortitude often become victims of those who have self-discipline.

Rich Dad Poor Dad | S5 – E47 | Lesson VIII | 10 Steps to Develop Your POWERS (3-4)

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

How I created a skillset before covid19 shattered jobs

The language school where I have been teaching since May last year had to close on the 18th March. I am owed three weeks pay, which should have arrived by 11th April at the latest. There are 8 other teachers in the same boat and we have all been unable to contact the owner. He isn’t answering his phone, e-mails or Line messages (but the messages are being read) I need my money!

Anonymous Teacher in Thailand

I’m fortunate enough to have built up my skillsets over the course of 5 years. However, the comment above, which I found on a website, shows a plead from an individual who works at a language center (like me) that sadly fell into the grim reality of a corrupted owner. He was supposed to get paid but the owner has literally went AWOL, or so it seems (because line messages are being read). I have empathy for these teachers, including the rest around the world, who have had their jobs completely slashed away. 36 million English speakers in America have lost their jobs and that toll will continue climbing because the spread of the virus will amplify.

In the past here in Thailand, there have been floods that wiped up a large portion of the country, inundating homes and districts for up to a half-a-year, coups that ran rampantly on the streets of Thailand, disrupting an entire nation. Riots between two political parties that saw dozens of lives lost, but this certainly trumps them all, doesn’t it?

The company that hires and sends us to teach in Thai public schools refuses to tell the teachers when our contracts will officially begin. Meaning we don’t know if they will begin in May or July. If our contracts don’t begin until July, it means we will have gone from March to the end of July with little or no pay. The fact the company refuses to be upfront with teachers, only highlights the poor character of this Thai-run company. 

They assume that they can string the foreign teachers along and we will be there when school starts. But they assume wrong. When the school term starts again, I suspect the companies and schools that have ignored and not looked after the foreign teachers will be left with giant holes to fill. Loyalty is a two way street.

Anonymous Teacher

I think you guys get the point. Because this gentleman is a 1 in 2,000 foreigner teachers (give or take a couple thousand) here in Thailand, he can be disposed of, just like most Americans who have lost their jobs to COVID.

However, because I’m a podcaster, online trainer, teacher, have proven my capabilities and have gotten results, I’m probably a 1 in 3 here in Thailand, putting me in a category that’s hard to get into.

“Arsenio, do you have a lot of work here in Thailand?” Absolutely NOT. There are forces beyond my power that play a pivotal role in this white-ocracy, but because I’m well-known online because the videos, and worldwide because my podcast….there are people inquiring from all corners of the world for my services. How did I do this?

  • Become an asset; not a number
  • Learn skills that others don’t know
  • Build an online persona
  • Strengthen your four cores of credibility
  • Content creation

Whether you’re at home and stuck — or wondering what you can do with all the free time, this is the best way you can start strengthening skills that can provide you with extra income…not waiting on others to open their doors.

The Volatility of The Cryptocurrency Exchange Wallet (longread)

By Jiun Ting Yong

The price of Bitcoin and its other cryptocurrency competitors will plummet; and after a few weeks, the price of Bitcoin will increase. These trends are normal for people who are involved in trading Bitcoin and other alternative cryptocurrencies, unlike investors who invested in Bitcoin for its value.

The major reasons why cryptocurrency is so volatile is because of bad news (which isn’t always true) that stops people from adopting Bitcoin. Trading in Bitcoin is unlike trading in stocks because Bitcoin is volatile to bad news — just recently, the American FBI had closed a criminal organisation that stored their assets in Bitcoin that took the American FBI years to track them down in the dark internet market for their drug trade. When the FBI shutdown the Silk Road marketplace, it caused the prices of Bitcoin to plummet. Then people wondered about the trust of Bitcoin among the investors.

As the prices fluctuated based on free market forces, the bad news lead to uncertainty, which lead to traders receiving the news and end up losing a lot of money.  However, some people recognised that the drop in prices was an opportunity to buy Bitcoin at low prices, then sell it with a huge amount of money when prices are ripe for them to sell.

The second reason why Bitcoin will fall is a breach of security of cryptocurrency wallet exchanges like the recent breach of security in the Ethereum wallet exchange company that caused the prices of Ethereum drop significantly — just like the Hong Kong bitcoin exchange, Bitfinex, that created a turbulent wave of confusion. It caused many traders to panic and sell off their cryptocurrency with the right prices to minimise their risk of losses. These breaches only became a cause of concern by people who questioned the protocols. As a result, people seem to be less confident about the usage and hampered them from adopting them as a form of currency for day to day transactions. This is because Bitcoin and other cryptocurrencies were built on open source software. Therefore, the protocol allows other independent software developers to change the source code of a protocol for a cryptocurrency.

Another major reason will be the tax treatment of an authority against Bitcoin and other cryptocurrencies, which are also affected by the volatility, too. This is because the governments began declaring that investing in cryptocurrencies and Bitcoin will be considered an asset. Therefore, they are subjected to taxations and those cryptocurrencies exchange wallets, like the London based cryptocurrency exchange wallet company, Luno, was subjected to Malaysian Inland Revenue Board for tax evasion investigations. However, offshore banking hub like Switzerland is massively adopting cryptocurrency as an instrument of investment and blockchain into their financial services system by incorporating new types of investment companies like a cryptocurrency assets management firm because they aspired to become the centre of cryptocurrency investments and blockchain. This move isn’t new because Dubai, UAE and Malta were adopting blockchain technology just like their counterparts, Japan, South Korea, as well as American banks in Wall Street.

Furthermore, the volatile of cryptocurrencies in the market was caused by foreign direct investments in high inflation countries like Argentina. This is because people can use Bitcoin to offset the high inflation rate by denominating them into Argentine Peso from outside of Argentina. Therefore, funders could earn a higher yield return on their investment. Also, the Venezuelan government did denominate their own cryptocurrency known as the ‘Petro dollar’ to raise some funds for to pay for their country’s debts that drove the country into a state of chaos; because the country was on the verge of bankruptcy due to excessive wastage of state’s finances.

Overall, all of these are the causes of what’s happening and what will probably continue happening, but it doesn’t really hamper people from adopting Bitcoin and other cryptocurrencies. This is because when you look closely, many people are adopting Bitcoin and other cryptocurrencies in a slow and fast pace dating a few years back after Brexit had gone viral, there were Bitcoin ATM machines popping up in London as well as in some parts of Australia. They are on the way to becoming mainstream where it will be denominated to the USD and it is going to happen as soon as we thought! The future is exciting and filled with massive innovation.

Warren Buffet On Crypto: Is He Scared?

So, since Crypto started making waves and I started reading a little bit more of Tony Robbins again, I’m getting really scared about why there’s such a huge divide between the Gen B’s and the newer generations.

After 2008, who trusts the banks? I mean the value on people’s homes was reduced by 80%.  On top of that, 401K’s (also known to be in the stock markets), were completely wiped out.  Could you imagine being 60-years-old and seeing your 401K go right down the drain? Did anyone claim reliability? Absolutely not.

So, this is why I continue to have my doubts because there isn’t any straightforward information in terms of saving long-term.  It’s scary.  Thailand’s last crash was back in 97/98, resulting in quite a few suicides across Eastern and Southeast Asia.

How can we protect ourselves from crashes? I mean I ask myself the most basic question, “if 401k’s get wiped clean every 8-12 years, what’s the point?”

Honestly, would love to hear someone’s opinion.

And this is what brings me to Cryptocurrency.  Sure, it’s a massive fluctuation, but with blockchain on the verge of changing the way we view money, it seems like regular currency will be a thing of the past by the late century.

You know what I really want to point out….how come is it that the “over 60’s” keep so much information from one another?  Here’s a question, show me a blog or a book that Warren Buffet, Ray Dalio or any of those Wallstreet fools (I say that lightly, too) wrote and talked about how to invest.

I’m waiting….

See, that’s the problem right there.  Am I blaming the WWII, Korean War, Vietnam War eras for this? Well, kinda…in a sense that Americans, and the world in general, had a completely different mindset on life back in those days.  Do you think they want to change now? HELL NO!!! This is why racism has been perpetuated for so long because the Gen B’s rub off on the Gen Z….so the only way an anglo kid from Norman, Oklahoma won’t be a racist is if he moves to a culturally diverse city.

That’s a FACT.

But anyways…let’s break this down.

“If you buy something like a farm, an apartment house, or an interest in a business… You can do that on a private basis… And it’s a perfectly satisfactory investment,” he said. “You look at the investment itself to deliver the return to you. Now, if you buy something like bitcoin or some cryptocurrency, you don’t really have anything that has produced anything. You’re just hoping the next guy pays more.” – Warren Buffet

Ok, so how do the markets return on us without being penalized? How about the hidden fees that these “trust funds” inadvertently put in so that financial managers can dig deep into the “potential savings” of the others?

“In terms of cryptocurrencies, generally, I can almost say with certainty that they will come to a bad ending,” Buffet said. He went on to say he’d bet on “every one of the cryptocurrencies” falling over the next five years. “But, I would never short a dime’s worth,” he added. – Warren Buffet

Like the DOTCOM crash? Ok, some people would blame banks or housing.

How about 2008?  Oh, let’s blame the banks.

Great depression? Let’s blame the banks.

How come Warren doesn’t sit down with the world and teach them out to invest? This is what really drives me up the wall.

“There’s a real bubble in that sort of thing,” – Warren Buffet

Like…ummm, 2000-2008? That bubble? The bubble that bursted?

See, just like most over 50’s, this is a many that points fingers, critcizes, and gives no definitive follow-ups.

He should perhaps rephrase himself and say, “ok, guys.  Crypto is this………and this is what’s going to happen.  However, I believe if you put your money here in these indexes, it will accumulate this much over a 10-year period.”

The thing is….he doesn’t do that.

And that’s why I can NEVER trust anyone from that era.  There’s just too many hidden things and beating around the bush.

 

 

Tim Ferriss: The Art of Letting Bad Things Happen

I had to revert back to one of my favorite books that helped me incredibly about a year ago.  Tim Ferriss, one of my favorite authors who has put together some fine reference books, coined a chapter called The Art of Letting Bad Things Happen.

 One of our fulfillment companies had been shut down due to the CEO’s death, causing a 20%+ loss in monthly orders and requiring an emergency shift of all web design and order processing
– Missed radio and magazine appearances and upset would-be interviewers
– More than a dozen lost joint-venture partnership opportunities

It’s not that I go out of my way to irritate people—not at all—but I recognize one critical fact: Oftentimes, in order to do the big things, you have to let the small bad things happen. This is a skill we want to cultivate.”

Excerpt From: Timothy Ferriss. “The 4-Hour Workweek, Expanded and Updated.” iBooks.

So, my life (at the moment) isn’t as interesting as Tim Ferris’ (in terms of dealing with CEO’s, order processing, joint partnerships, etc), but I have just let the bad things happen.

So, when I first started denying work at location number 1, it was because there was something massive festering at other smaller locations.  It’s like we focus on the big markets and ignore the smaller markets.  We focus on bitcoin but we don’t focus on the likes of Litecoin.

Did I think something extraordinarily bad would happen? No.  I mean others in the company can have days off, but I was the seven-day-slave, being put to work constantly.  So, that moment I cut myself out of the schedule for Sunday morning – was the decline of my workload at that particular job.  I knew that if I can commit to teaching outside, because I knew it would be extremely beneficial in the future, I would officially resign and get my dream job.  Five projects later, I was right about it.  The “BIG” thing happened.

Tim Ferris let the bad things happened….and then he received these….

“What did I get in exchange for temporarily putting on blinders and taking a few glancing blows?

I followed the Rugby World Cup in Europe and watched the New Zealand All Blacks live, a dream I’ve had for the last five years.
I shot every gun I’ve ever dreamed of firing since brainwashing myself with Commando. Bless the Slovak Republic and their paramilitaries.
I filmed a television series pilot in Japan, a lifelong dream and the most fun I’ve had in months, if not years.
I met with my Japanese publisher, Seishisha, and had media interviews in Tokyo, where the 4HWW is now #1 in several of the largest chains.
I took a complete 10-day media fast and felt like I’d had a two-year vacation from computers.
I attended the Tokyo International Film Festival and hung out with one of my heroes, the producer of the Planet Earth television series.”

And my story….

I denied work, ultimately costing my job.

However, what did I get in return?

HR Student

Project Teaching Executives

Project Teaching 300 students

Project teaching an English camp and met the deputy prime minister

Project that I can make between 1,000-10,000 USD a month (not working)

2nd project teaching vice presidents

Finally teaching the big test prep courses for big bucks.

All of this would’ve never happened if I hadn’t just said ‘thanks, but no thanks.’

“Once you realize you can turn off the noise without the world ending, you’re liberated in a way that few people know.” – Tim Ferris

“Here are a few questions that can help you pop on the productivity blinders and put things in perspective. Even when you’re not traveling the world, develop the habit of letting small bad things happen. If you don’t, you’ll never find time for the life-changing big things, whether important tasks or true peak experiences. If you do force the time but puncture it with distractions, you won’t have the attention to appreciate it.

  • What is the one goal, if completed, that could change everything?
    What is the most urgent thing right now that you feel you “must” or “should” do?
    Can you let the urgent “fail”—even for a day—to get to the next milestone for your potential life-changing tasks?
    What’s been on your to-do list the longest? Start it first thing in the morning and don’t allow interruptions or lunch until you finish.”

Excerpt From: Timothy Ferriss. “The 4-Hour Workweek, Expanded and Updated.” iBooks.

Podcast

PDF

Tim Ferris Questions

Cryptocurrency Podcast #1 – Litecoin & Smaller Market Coins To Invest In + Crypto-guide For Beginners

As promised, I’ve brought Steve Pipe back on for our second podcast, but our first podcast in Cryptocurrency.

As of late, Crypto has been extremely turbulent and fluctuating like crazy.  I want to deep-dive and ask Steve some questions about Crypto going forward before getting into what’s in the title.  Tune in, everyone!

By the way, I’ll try keeping it short.

Q:  The Crypto market is fluctuating and all of these “investors in wallstreet” are saying to stay away.  Are they scared?

A: (Arsenio) – Wallstreet is scared because now they can’t keep it all to themselves anymore.  It’s easier for millennials to make money now and they’re not happy about it, being that they’re from a generation that loved hoarding all the wealth.

(Steve) – people are pulling out and some are investing heavily.  This is what causes large fluctuations.

Q: Walk us through on how to start an account.

A: (In the podcast)

 

I decided that I didn’t want to make an extensive blog on what he talked about because it would be one hell of  transcription, so tune in below instead!