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

Rich Dad Poor Dad | S5 – E34 | Lesson VI | Learn to Work — Don’t Work for Money

Job security meant everything to my educated dad. Learning meant everything to my rich dad.

Robert Kiyosaki – Rich Dad Poor Dad

Interview in Singapore with interviewee lead to this…

“I’ll never stoop so low as to learn how to sell. People like you have no business writing. I am a professionally trained writer and you are a salesman. It is not fair,” she fumed.

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I am constantly shocked at how little talented people earn. I have met brilliant, highly educated people who earn less than $20,000 a year. A business consultant who specializes in the medical trade was telling me how many doctors, dentists, and chiropractors struggle financially. All this time, I thought that when they graduated, the dollars would pour in. It was this business consultant who gave me the phrase: “They are one skill away from great wealth.”

Rich Dad Poor Dad

What this phrase means is that most people need only to learn
and master one more skill and their income would jump exponentially. I have mentioned before that financial intelligence is a synergy of accounting, investing, marketing, and law. Combine those four technical skills and making money with money is easier than most people would believe. When it comes to money, the only skill most people know is to work hard.

The classic example of a synergy of skills was that young writer for the newspaper. If she diligently learned the skills of sales and marketing, her income would jump dramatically. If I were her, I would take some courses in advertising copywriting as well as sales. Then, instead of working at the newspaper, I would seek a job at an advertising agency. Even if it were a cut in pay, she would learn how to communicate in short-cuts that are used in successful advertising. She also would spend time learning public relations, an important skill. She would learn how to get millions in free publicity. Then, at night and on weekends, she could be writing her great novel. When it was finished, she would be better able to sell her book. Then, in a short while, she could be a “best- selling author.”

Podcast

Rich Dad Poor Dad | S5 – E23 | Lesson IV | The History of Taxes & The Power of Corporations

I remember in school being told the story of Robin Hood and
his Merry Men. My teacher thought it was a wonderful story of a romantic hero who robbed from the rich and gave to the poor. My rich dad did not see Robin Hood as a hero. He called Robin Hood a crook.

Robin Hood may be long gone, but his followers live on. I often still hear people say, “Why don’t the rich pay for it?” or “The rich should pay more in taxes and give it to the poor.”

It is this Robin Hood fantasy, or taking from the rich to give to the poor, that has caused the most pain for the poor and the middle class. The reason the middle class is so heavily taxed is because of the Robin Hood ideal. The reality is that the rich are not taxed. It’s the middle class, especially the educated upper-income middle class, who pays for the poor.

Again, to understand fully how things happen, we need to look at the history of taxes. Although my highly educated dad was an expert on the history of education, my rich dad fashioned himself as an expert on the history of taxes.

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Rich Dad Poor Dad | S5 – E22 | Assets you DON’T Have to Follow!

So what kind of assets am I suggesting that you or your children acquire? In my world, real assets fall into the following categories:

  • Businesses that do not require my presence I own them, but they are managed or run by other people. If I have to work there, it’s not a business. It becomes my job.
  • Stocks
  • Bonds
  • Income-generating real estate
  • Notes (IOUs)
  • Royalties from intellectual property such as music, scripts, and patents
  • Anything else that has value, produces income or appreciates, and has a ready market

As a young boy, my educated dad encouraged me to find a safe job. But my rich dad encouraged me to begin acquiring assets that I loved.
“If you don’t love it, you won’t take care of it.” I collect real estate simply because I love buildings and land. I love shopping for them, and I could look at them all day long. When problems arise, the problems aren’t so bad that it changes my love for real estate. For people who hate real estate, they shouldn’t buy it.

I also love stocks of small companies, especially start-ups, because I am an entrepreneur, not a corporate person. In my early years,
I worked in large organizations, such as Standard Oil of California, the U.S. Marine Corps, and Xerox Corp. I enjoyed my time with those organizations and have fond memories, but I know deep down I am not a company man. I like starting companies, not running them. So my stock buys are usually of small companies.

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When I say mind your own business, I mean to build and keep your asset column strong. Once a dollar goes into it, never let it come out. Think of it this way: Once a dollar goes into your asset column, it becomes your employee. The best thing about money is that it works 24 hours a day and can work for generations. Keep your day job, be a great hardworking employee, but keep building that asset column.

As your cash flow grows, you can indulge in some luxuries. An important distinction is that rich people buy luxuries last, while the poor and middle class tend to buy luxuries first. The poor and the middle class often buy luxury items like big houses, diamonds, furs, jewelry, or boats because they want to look rich. They look rich, but in reality they just get deeper in debt on credit. The old-money people, the long-term rich, build their asset column first. Then the income generated from the asset column buys their luxuries. The poor and middle class buy luxuries with their own sweat, blood, and children’s inheritance.

Jack Canfield – To Spend More, First Make More

“Whatever may be said in praise of poverty, the fact remains that it is not possible to live a really complete or successful life unless one is rich.” – Wallace D. Wattles

I don’t know about you guys, but I would rather make more and have more to spend than to always be denying myself things I want for some distant future gain.

The first step to making more money is to decide how much more you want to make.  I’ve talked about using the power of affirmations and visualisation to see yourself as already in the possession of that money.  The super rich have used these methods and daily habits to bring more abundance into their lives.

The second step is to ask yourself, “what product, service, or additional value can I deliver to generate that money?”

What does the world, your employer, your community, fellow businesspeople, fellow students, or customers need that you could provide?

More Money Idea #1 – Become An Entrepreneur – Perhaps your work group is so good at managing projects, its members have extra time that they could “hire out” to other departments for extra pay.  You can create a plan to turn this asset into cash and approach your employer with a proposal to work on the asset-maziming project off-hours for extra pay. Sounds sexy?

More Money Idea #2 – Find A Need And Fill It

Whether it’s starting a website for a particular group of collectors or providing a unique education for people who need rare or unusual schools.  On the other hand, how about inventing something for a particular area that’s without electricity such as an entrepreneur in the Philippines? Here’s the video – https://www.youtube.com/watch?v=1lZH2xYJ4n8

More Money Idea #3 – Think Outside The Box

When Dave Linger, founder and CEO of RE/MAX, was a successful young real estate agent, he went from “renting a desk” for 500$ a month to having 90,000 agents and 6,000 offices in more than 90 countries worldwide.  I’ll have the story in a podcast soon.

More Money Idea #4 – Start A Business On The Internet

If you set up your own Web site and subscribe to a shopping cart service, you can sell and accept credit cards for payment at your own site.  This is where your expertise becomes valuable – selling e-books, audio courses, training materials, specialised reports or directories, how-to information, and other knowledge products that are downloadable – meaning you never have to ship a single box or send an envelope.

More Money Idea #5 – Join A Network Marketing Company

There are more than 1,500 companies who sell their products and services through network marketing – certainly one or more you can get passionate about.

Here are a few podcasts….

Part 1 –  https://www.spreaker.com/episode/9603278

Part 2 –  https://www.spreaker.com/episode/9613046