Rich Dad Poor Dad: S5 – E2 – Take Risks or Play it Safe?

Although both dads worked hard, I noticed that one dad had a habit of putting his brain to sleep when it came to finances, and the other had a habit of exercising his brain. The long-term result was that one dad grew stronger financially, and the other grew weaker. It is not much different from a person who goes to the gym to exercise on a regular basis versus someone who sits on the couch watching television. Proper physical exercise increases your chances for health, and proper mental exercise increases your chances for wealth.

I had two influential fathers, I learned from both of them. I had to think about each dad’s advice, and in doing so, I gained valuable insight into the power and effect of one’s thoughts on one’s life. For example, one dad had a habit of saying, “I can’t afford it.” The other dad forbade those words to be used. He insisted I ask, “How can I afford it?” One is a statement, and the other is a question. One lets you off the hook, and the other forces you to think. My soon-to-be-rich dad would explain that by automatically saying the words “I can’t afford it,” your brain stops working. By asking the question “How can I afford it?” your brain is put to work. He did
not mean that you should buy everything you want. He was fanatical about exercising your mind, the most powerful computer in the world. He’d say, “My brain gets stronger every day because I exercise it. The stronger it gets, the more money I can make.” He believed that automatically saying “I can’t afford it” was a sign of mental laziness.

My two dads had opposing attitudes and that affected the way they thought. One dad thought that the rich should pay more in taxes to take care of those less fortunate. The other said, “Taxes punish those who produce and reward those who don’t produce.”

One dad recommended, “Study hard so you can find a good company to work for.” The other recommended, “Study hard so you can find a good company to buy.”

One dad said, “The reason I’m not rich is because I have you kids.” The other said, “The reason I must be rich is because I have you kids.”

One encouraged talking about money and business at the dinner table, while the other forbade the subject of money to be discussed over a meal.

One said, “When it comes to money, play it safe. Don’t take risks.” The other said, “Learn to manage risk.”

One believed, “Our home is our largest investment and our greatest asset.” The other believed, “My house is a liability, and if your house is your largest investment, you’re in trouble.”

Both dads paid their bills on time, yet one paid his bills first while the other paid his bills last.

One dad believed in a company or the government taking care of you and your needs. He was always concerned about pay raises, retirement plans, medical benefits, sick leave, vacation days, and other perks. He was impressed with two of his uncles who joined the military and earned a retirement-and-entitlement package for life after twenty years of active service. He loved the idea of medical benefits and PX privileges the military provided its retirees. He also loved the tenure system available through the university. The idea
of job protection for life and job benefits seemed more important,
at times, than the job. He would often say, “I’ve worked hard for the government, and I’m entitled to these benefits.”

The other believed in total financial self-reliance. He spoke out against the entitlement mentality and how it created weak and financially needy people. He was emphatic about being financially competent.

One dad struggled to save a few dollars. The other created investments. One dad taught me how to write an impressive resumé so I could find a good job. The other taught me how to write strong business and financial plans so I could create jobs.

Podcast

Arsenio’s ESL Podcast: Season 3 – Episode 45 – Passive Voice (Intermediate)

We have a difficult ESL podcast/blog in store for today, so I want you guys to brace yourself because we’re going back over the passive voice!

Listen/read the sentences. Which sentence is not in the passive?

  1. The prizes are given to the athletes.
  2. The Nobel Peace prize was won by Barack Obama.
  3. Nelson Mandela won the Nobel Peace prize back in the 80’s.
  4. These inventions won’t be used much.
  5. Lots of interesting research is being done at the moment.
  6. Her phone has been taken.

Rules

We use the passive when we are interested mainly in the action.

We use the passive when it isn’t obvious who does or did the action.

When we use the passive we don’t always know the person who does the action.

Add one word in each sentence to make a correct passive sentence. After that, write which tense each sentence is in.

  1. The radio was invented by Marconi. Past simple.
  2. Many new phones ___________ been invented in the 21st century. ______________.
  3. Many jobs ___________ be done by robots in 2045. _________________.
  4. Velcro, penicillin and the microwave oven ____________ invented by accident. _________________.
  5. Millions of dollars ____________ spent on war every year.________________.
  6. Football is _________________ by millions of people on TV each weekend.
  7. The novel The Bourne Identity ___________ written by Robert Ludlum in 1980. _________________.

Tim Ferris’ Rough Patch & The Point

During his 2013 year, he went on a downward spiral for about three months including:

  • Cried while watching Rudy. (lol. Sorry – had to laugh)
  • Repeatedly hit snooze for 1 to 3 HOURS past his planned wake time, because he simply didn’t want to face the day.
  • Considered giving everything away and moving to Montreal, Seville, or Iceland. Location varies based on what he imagined escaping to.
  • Saw a therapist for the first time, as he was convinced that he was doomed to lifelong pessimism.
  • Took his daily caffeine intake (read: self-medication) so high that his “resting” pulse was 120+ beats per minute. 8 to 10 cups of coffee per day at minimum.
  • Wore the same pair of jeans for a week straight.

We all go through this.  Three months is almost the breaking point which someone begins having suicidal thoughts.  I had this point for about 1 day just a couple days ago and I tried identifying what was the root – nothing.  Thoughts were simply wandering.

In that same time frame of about two months, he changed it all around.

  • Increased his passive income 20%+.
  • Bought his dream house.
  • Meditated twice per day for 20 minutes per session, without fail. That marked the first time he’d been able to meditate consistently.
  • Ended up cutting his caffeine intake to next-to-nothing (in the last 4 weeks).
  • With the help of his blog readers, raised $100,000+ for charity: water for his birthday.
  • Raised $250,000 in 53 minutes for a startup called Shyp.
  • Signed one of the most exciting business deals of his last 10 years—his TV show, The Tim Ferriss Experiment.
  • Added roughly 20 pounds of muscle.

    Realized—once again—that manic-depressive symptoms are just part of entrepreneurship.  Came to feel closer to all my immediate family members.

I guess that’s probably what swallowed me just a few days ago.  Not having any schedule blog posts, podcast plays being low, YouTube becoming ineffective….during those ensuing hours, I was pulling what little hair I have left around my head OUT and couldn’t even focus during my gym hour.

Resolution?

  • Wake up at least 1 hour before you have to be at a computer screen.
  • Make a cup of tea (or I take my vitamins after priming) and sit down with a pen/pencil and paper.
  • Write down the 3 to 5 things—and no more—that are making you the most anxious or uncomfortable. They’re often things that have been punted from one day’s to-do list to the next, to the next, to the next, and so on. Most important usually equals most uncomfortable, with some chance of rejection or conflict.
  • For each item, ask yourself: “If this were the only thing I accomplished today, would I be satisfied with my day?” “Will moving this forward make all the other to-dos unimportant or easier to knock off later?” Put another way: “What, if done, will make all of the rest easier or irrelevant?”
  • Look only at the items you’ve answered “yes” to for at least one of these questions.
  • Block out at 2 to 3 hours to focus on ONE of them for today. Let the rest of the urgent but less important stuff slide. It will still be there tomorrow.

“It doesn’t take much to seem superhuman and appear “successful” to nearly everyone around you. In fact, you just need one rule: What you do is more important than how you do everything else, and doing something well does not make it important.
If you consistently feel the counterproductive need for volume and doing lots of stuff, put these on a Post-it note:
Being busy is a form of laziness—lazy thinking and indiscriminate action.
Being busy is most often used as a guise for avoiding the few critically important but uncomfortable actions.” – Tim Ferris