Tag: poordad

How I created a skillset before covid19 shattered jobs

thearseniobuckshow

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.

Rich Dad Poor Dad | S5 – E42 | Lesson VII | Overcoming Cynicism Part II

Rich Dad Poor Dad | S5 – E42 | Lesson VII | Overcoming Cynicism Part II

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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.

Podcast

RICH DAD POOR DAD | S5 – E40 | LESSON VII | Stories of Failures

RICH DAD POOR DAD | S5 – E40 | LESSON VII | Stories of Failures

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In my own life, I’ve noticed that winning usually follows losing. Before I finally learned to ride a bike, I first fell down many times. I’ve never met a golfer who has never lost a golf ball. I’ve never met people who have fallen in love who have never had their heart broken. And I’ve never met someone rich who has never lost money.

Rich Dad Poor Dad
  • Riding a bike
  • Women
  • Track & Field
  • Video Games (Blitz 2003)

“Texans don’t bury their failures. They get inspired by them. They take their failures and turn them into rallying cries. Failure inspires Texans to become winners. But that formula is not just the formula for Texans. It is the formula for all winners.”

“I always tried to turn every disaster into an opportunity.” John D. Rockefeller

If you hate losing, play it safe. If losing makes you weak, play it safe. Go with balanced investments. If you’re over 25 years old and are terrified of taking risks, don’t change. Play it safe, but start early. Start accumulating your nest egg early because it will take time.

But if you have dreams of freedom—of getting out of the Rat Race—the first question to ask yourself is, “How do I respond to failure?” If failure inspires you to win, maybe you should go for it—but only maybe. If failure makes you weak or causes you to throw temper tantrums—like spoiled brats who call attorneys to file lawsuits every time something doesn’t go their way—then play it safe. Keep your daytime job. Or buy bonds or mutual funds. But remember, there is risk in those financial instruments also, even though they may appear safe.

Rich Dad Poor Dad | S5 – E39 | Lesson VII | Overcoming obstacles

Rich Dad Poor Dad | S5 – E39 | Lesson VII | Overcoming obstacles

thearseniobuckshow

Once people have studied and become financially literate, they may still face roadblocks to becoming financially independent. There are five main reasons why financially literate people may still not develop abundant asset columns that could produce a large cash flow. The five reasons are:

  1. Fear
  2. Cynicism
  3. Laziness
  4. Bad habits
  5. Arrogance

I have never met anyone who really likes losing money. And in all my years, I have never met a rich person who has never lost money. But I have met a lot of poor people who have never lost a dime— investing, that is.

The fear of losing money is real. Everyone has it. Even the rich. But it’s not having fear that is the problem. It’s how you handle fear. It’s how you handle losing. It’s how you handle failure that makes the difference in one’s life. The primary difference between a rich person and a poor person is how they manage that fear.

It’s okay to be fearful. It’s okay to be a coward when it comes to money. You can still be rich. We’re all heroes at something, and cowards at something else. My friend’s wife is an emergency-room nurse. When she sees blood, she flies into action. When I mention investing, she runs away. When I see blood, I don’t run. I pass out.

My rich dad understood phobias about money. “Some people are terrified of snakes. Some people are terrified about losing money. Both are phobias,” he would say. So his solution to the phobia of losing money was this little rhyme: “If you hate risk and worry, start early.”

RICH DAD POOR DAD | S5 – E38 | LESSON VI | People Skills

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Today, I meet ex-schoolteachers earning hundreds of thousands of dollars a year. They earn that much because they have specialized skills in their field as well as other skills. They can teach, as well as sell and market. I know of no other skills to be more important than selling and marketing. The skills of selling and marketing are difficult for most people, primarily due to their fear of rejection. The better you are at communicating, negotiating, and handling your fear of rejection, the easier life is. Just as I advised that newspaper writer who wanted to become a best-selling author, I advise anyone else today.

Rich Dad Poor Dad

Being technically specialized has its strengths as well as its weaknesses. I have friends who are geniuses, but they cannot communicate effectively with other human beings and, as a result, their earnings are pitiful.
I advise them to just spend a year learning to sell. Even if they earn nothing, their communication skills will improve. And that is priceless.

Rich Dad Poor Dad

In addition to being good learners, sellers, and marketers, we need to be good teachers as well as good students. To be truly rich, we need to be able to give as well as to receive. In cases of financial or professional struggle, there is often a lack of giving and receiving. I know many people who are poor because they are neither good students nor good teachers.

Rich Dad Poor Dad

My educated dad always said, “When I have some extra money, I’ll give it.” The problem was that there was never any extra. So he worked harder to draw more money in, rather than focus on the most important law of money: “Give, and you shall receive.” Instead, he believed in: “Receive, and then you give.”

Podcast

RICH DAD POOR DAD | S5 – E37 | LESSON VI | Don’t Build The Hamburger; sell the hamburger

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The world is filled with talented poor people. All too often, they’re poor or struggle financially or earn less than they are capable of, not because of what they know, but because of what they do not know. They focus on perfecting their skills at building a better hamburger rather than the skills of selling and delivering the hamburger. Maybe McDonald’s does not make the best hamburger, but they are the best at selling and delivering a basic average burger.

Rich Dad Poor Dad

Don’t build the hamburger, people! You know why? Who else can build hamburgers? EVERYONE! Who can sell them? Not EVERYONE. This is the point of the story. Once robots start making hamburgers, you’re not expendable. You’re now disposable. You’re no longer a employable, and you’ll become unemployable.

The main management skills needed for success are:

  1. Management of cash flow
  2. Management of systems
  3. Management of people

The most important specialized skills are sales and marketing. The ability to sell—to communicate to another human being, be it a customer, employee, boss, spouse, or child—is the base skill of personal success. Communication skills such as writing, speaking, and negotiating are crucial to a life of success. These are skills I work on constantly, attending courses or buying educational resources to expand my knowledge.

Rich Dad Poor Dad

Podcast

RICH DAD POOR DAD | S5 – E36 | LESSON VI | Logic

thearseniobuckshow

In school and in the workplace, the popular opinion is the idea of specialization: that is, in order to make more money or get promoted, you need to specialize. That is why medical doctors immediately begin to seek a specialty such as orthopedics or pediatrics. The same is true for accountants, architects, lawyers, pilots, and others.

Rich Dad Poor Dad

When I went to Australia, my family’s logic and my logic were completely different. Because I wanted to achieve something far greater than me, I was ridiculed by my family, ostracized, and never spoken to again. My logic was far greater than any that had beset on my family. My achievements are far greater than anything any family member in history has achieved. I had rich dad’s logic.

When I quit my high-paying job with Standard Oil, my educated dad had a heart-to-heart talk with me. He was bewildered. He could not understand my decision to resign from a career that offered high pay, great benefits, lots of time off, and opportunity for promotion. When he asked me one evening, “Why did you quit?” I could not explain it to him, though I tried hard to. My logic did not fit his logic. The big problem was that my logic was my rich dad’s logic. – Robert Kyosaki

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

Educated dad thought I went to school to learn to be a ship’s officer. Rich dad knew that I went to school to study international trade. So as a student, I made cargo runs, navigating large freighters, oil tankers, and passenger ships to the Far East and the South Pacific. Rich dad emphasized that I should stay in the Pacific instead of taking ships to Europe because he knew that the emerging nations were in Asia, not Europe. While most of my classmates, including Mike, were partying at their fraternity houses, I was studying trade, people, business styles, and cultures in Japan, Taiwan, Thailand, Singapore, Hong Kong, Vietnam, Korea, Tahiti, Samoa, and the Philippines. I was partying also, but it was not in any frat house. I grew up rapidly.

Rich Dad Poor Dad
Rich Dad Poor Dad | S5 – E35 | Lesson VI | Learn A Little About A lot

Rich Dad Poor Dad | S5 – E35 | Lesson VI | Learn A Little About A lot

thearseniobuckshow

In school and in the workplace, the popular opinion is the idea of specialization: that is, in order to make more money or get promoted, you need to specialize. That is why medical doctors immediately

“You want to know a little about a lot” was rich dad’s suggestion.

begin to seek a specialty such as orthopedics or pediatrics. The same is true for accountants, architects, lawyers, pilots, and others. My educated dad believed in the same dogma. That is why he was thrilled when he eventually achieved his doctorate. He often admitted that schools reward people who study more and more about less and less.

Rich dad encouraged me to do exactly the opposite. “You want to know a little about a lot” was his suggestion. That is why for years I worked in different areas of his companies. For a while, I worked in his accounting department. Although I would probably never have been an accountant, he wanted me to learn via osmosis. Rich dad knew I would pick up jargon and a sense of what is important and what is not. I also worked as a bus boy and construction worker as

Rich Dad Poor Dad

That’s exactly what I did throughout my teaching career. When I knew only how to teach kids, I got remunerated in a way that it didn’t make sense even working for that money. A month’s work at that school (7 years ago) is now three days work today. A month’s work there is now 3 minutes of sleeping time (money online). I started doubling down on test preparation courses, techniques, different areas of English and my asset column, in terms of my learning, had continued to grow even more.

Shifting Focus

When I came out with my first book, If You Want To Be Rich and Happy, Don’t Go to School, a publisher suggested I change the title to The Economics of Education. I told the publisher that, with a title like that, I would sell two books: one to my family, and one to my best friend. The problem is that they would expect it for free. The obnoxious title, If You Want To Be Rich and Happy, Don’t Go to School, was chosen because we knew it would get tons of publicity. I am pro-education and believe in education reform. If I were not pro-education, why would I continue to press for changing our antiquated educational system? So I chose a title that would get me on more TV and radio shows, simply because I was willing to be controversial. Many people thought I was a fruitcake, but the book sold and sold.

Rich Dad Poor Dad

Pat Flynn has talked about covers, books, self-publishing vs. traditional publishing, and other areas of authorship on his podcast. One thing he had said was the fact that people put egregious titles front-page on their book to get the attention of people. Hey, it worked, and that book, titled The Subtle Art of Nothing Giving a F***, was a money-maker.

Rich Dad Poor Dad — Learn a Little About A Lot

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

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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.

Rich Dad Poor Dad

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 – E33 | Lesson V | Two Types of Investors & How to Get Started

Rich Dad Poor Dad | S5 – E33 | Lesson V | Two Types of Investors & How to Get Started

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Great opportunities are not seen with your eyes. They are seen with your mind. Most people never get wealthy simply because they are not trained financially to recognize opportunities right in front of them.

Rich Dad Poor Dad

I love this. When it comes to money-making opportunities, they’re not seen with my eyes. I had to prime my mind to get the most out of it. I get a number of ideas on a routine basis that can propel my finances to even greater heights, simply by investing in my mind.

I look at money much like my game of tennis. I play hard, make mistakes, correct, make more mistakes, correct, and get better. If
I lose the game, I reach across the net, shake my opponent’s hand, smile, and say, “See you next Saturday.”

There are two kinds of investors:

  1. The first and most common type is a person who buys a packaged investment. They call a retail outlet, such as a real estate company, a stockbroker, or a financial planner, and they buy something. It could be a mutual fund, a REIT, a stock or a bond. It is a clean and simple way of investing. An analogy would be a shopper who goes to a computer store and buys a computer right off the shelf.
  2. The second type is an investor who creates investments.
    This investor usually assembles a deal in the same way a person who buys components builds a computer. I do not know the first thing about putting components of a computer together, but I do know how to put pieces of opportunities together, or know people who know how.

It is this second type of investor who is the more professional investor. Sometimes it may take years for all the pieces to come together. And sometimes they never do. It’s this second type of investor that my rich dad encouraged me to be. It is important to learn how to put the pieces together, because that is where the huge wins reside, and sometimes some huge losses if the tide goes against you.

If you want to be the second type of investor, you need to develop three main skills.

  1. Find an opportunity that everyone else missed. You see with your mind what others miss with their eyes. For example, a friend bought this rundown old house. It was spooky to look at. Everyone wondered why he bought it. What he saw that we did not was that the house came with four extra empty lots. He discovered that after going to the title company. After buying the house, he tore the house down and sold the five lots to a builder for three times what he paid for the entire package. He made $75,000 for two months of work. It’s not a lot of money, but it sure beats minimum wage. And it’s not technically difficult.
  2. Raise money. The average person only goes to the bank. This second type of investor needs to know how to raise capital, and there are many ways that don’t require a bank. To get started, I learned how to buy houses without a bank. It was the learned skill
    of raising money, more than the houses themselves, that
    was priceless. All too often I hear people say, “The bank won’t lend me money,” or “I don’t have the money to buy it.” If you want to be a type-two investor, you need to learn how to do that which stops most people. In other words, a majority of people let their lack of money stop them from making a deal. If you can avoid that obstacle, you will be millions ahead of those who don’t learn those skills. There have been many times I have bought
    a house, a stock, or an apartment building without a penny in the bank. I once bought an apartment house for $1.2 million.
    I did what is called “tying it up,” with a written contract between seller and buyer. I then raised the $100,000 deposit, which bought me 90 days to raise the rest of the money. Why did I do it? Simply because I knew it was worth $2 million. I never raised the money. Instead, the person who put up the $100,000 gave me $50,000 for finding the deal, took over my position, and I walked away. Total working time: three days. Again, it’s what you know more than what you buy. Investing is not buying. It’s more a case of knowing.

3. Organize smart people.

Intelligent people are those who work with or hire a person who is more intelligent than they are. When you need advice, make sure you choose your advisor wisely.