Rich Dad Poor Dad | S5 – E48 | Lesson VIII | Steps to Develop Your Powers #6 Use Assets to Buy Luxuries

A friend’s child has been developing a nasty habit of burning a hole in his pocket. Just 16, he wanted his own car. The excuse: “All his friends’ parents gave their kids cars.” The child wanted to go into his savings and use it for a down payment. That was when his father called me and then came to see me.

“Do you think I should let him do it, or should I just buy him a car?”

I answered, “It might relieve the pressure in the short term, but what have you taught him in the long term? Can you use this desire to own a car and inspire your son to learn something?” Suddenly the lights went on, and he hurried home.

Two months later I ran into my friend again. “Does your son have his new car?” I asked.

“No, he doesn’t. But I gave him $3,000 for the car. I told him to use my money instead of his college money.”

“Well, that’s generous of you,” I said.
“Not really. The money came with a hitch.”

As I said earlier, if a person cannot master the power of self- discipline, it is best not to try to get rich. I say this because, although the process of developing cash flow from an asset column is easy in theory, what’s hard is the mental fortitude to direct money to the correct use. Due to external temptations, it is much easier in today’s consumer world to simply blow money out the expense column. With weak mental fortitude, that money flows into the paths of
least resistance. That is the cause of poverty and financial struggle.

Rich Dad Poor Dad

Lewis Howes: The Material Mask & Tai Lopez Excerpt

YIKES! I mean, I can write probably a book on what Americans deem to be happiness – just go to Beverly Hills and see yourself! Yes, I took shot at Beverly Hills, although I stay there with an ex-boss of mine and his wife for a day this past April.  The Material Mask – the most highly sought after mask on the face of the planet.

From Instagrammer influencers posing with six-figure cars, to people flaunting their riches on yachts.  I find it very laughable because deep down inside those individuals are insecurities far beyond what “normal” people have.

For example, the YouTube guru who took the world by storm over a two-year period, Tai Lopez, is deemed as a “scam” artist.  Some people say that he packaged his own course from Jack Canfield’s ‘Success Principles.”  Others dissected his videos to the molecular level when they realized that some of the people he would be in the video with, at the time, weren’t even listening to him.  Collection of books in the garage; house “rented” out, women wearing 2-piece bikinis and so much more.  Nonetheless, this man amassed a fortune behind a very ambiguous past and everyone to this date is still unaware of his age.

Get this, regardless of what you might or might not like about him, he was one of those people who didn’t have that type of money when he was younger.  So, when he got the money, he lavished himself in it and had to show everyone.  His Tedx, called the ‘Good Life,’ was a bit laughed, in my opinion.  This coming from a public speaker – but this human being by the name of Tai Lopez has still been able to make millions of dollars.  Dollars that he must show to the rest of the world to make them feel inferior.

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