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Rich dad poor dad
The poor and the middle class work for money, the rich have money work for them
It is fear that keeps most people working at a job
Most people become a slave to money
Learn to have money work for you
Pay yourself first
Intelligence solves problems and produces money. Money without financial intelligence is money soon gone
It’s not how much money you make, it’s how much money you keep
If you want to be rich, you need to be financially literate
This summary is made possible by the bestbookbits community that don’t just consume educational content passively but take an active role in taking their life, business, and goals to the next level. They realize their real enemy is THEIR INNER ME. Get yourself out of the way and let me coach you on achieving that next breakthrough in your life, business, health and goals. Click the link below to book a free chat now, come say hi.
https://calendly.com/bestbookbits1/15-minute-bestbookbits-chat
You must know the difference between an asset and a liability, and buy assets
Rich people acquire assets. The poor and middle class acquire liabilities, but they think they are assets
If you want to be rich, you’ve got to read and understand numbers
An asset is something that puts money in my pocket
A liability is something that takes money out of my pocket
Illiteracy, both in words and numbers, is the foundation of financial struggle
It is the cash flow that tells the story
Their spending habits have caused them to seek more income
More money seldom solves someone’s money problems. Intelligence solves problems
Remember the golden rule. He who has the gold makes the rules
Schools were designed to produce good employees instead of employers
When it comes to money, high emotions tend to lower financial intelligence
Mind your own business. Financial struggle is often directly the result of people working all their life for someone else
Your business revolves around your asset column, as opposed to your income column
Keep your daytime job, but start buying real assets
Keep your expenses low, reduce your liabilities and diligently build a base of solid assets
Be smart and you won’t be pushed around as much
Financial IQ is made up of knowledge from four broad areas of expertise
No. 1 is accounting. No. 2 is investing. No. 3 is understanding markets. No. 4 is the law
The more real you think money is, the harder you will work for it. If you can grasp the idea that money is not real, you will grow rich faster
The single most powerful asset we all have is our mind. If it is trained well, it can create enormous wealth in what seems to be an instant
My overall philosophy is to plant seeds inside my asset column
Invest more in your financial education than in the stock, real estate or other markets
We learn by making mistakes
Unfortunately, the main reason most people are not rich is because they are terrified of losing.
Winners are not afraid of losing. But losers are. Failure is part of the process of success. People who avoid failure also avoid success
It is what you know that is your greatest wealth. It is what you do not know that is your greatest risk
Most people need only to learn and master one more skill and their income would jump exponentially
Job is an acronym for Just Over broke
Workers work hard enough to not be fired, and owners pay just enough so that workers won’t quit
Practice to give first
The more they gave, the more they received
They don’t make money because they chose to not lose money
Our spending habits reflect who we are. Poor people simply have poor spending habits
Having the guts to go against the tide and get rich
Remember, the easy road often becomes hard, and the hard road often become easy
Find someone who has done what you want to do
Make lots of offers
Search, offer, reject, negotiate and accept are all parts of the process of almost everything in life
Profit is made when you buy, not when you sell
Buy the pie and cut it in pieces
Small people remain small because they think small; act alone, or don’t act all
It’s what is in your head that determines what is in your hands
The three incomes: earned income, passive income, portfolio income
The key to becoming wealthy is the ability to convert earned income into passive income and/or portfolio income as quickly as possible
All a real investor does is convert earned income into passive and portfolio income
Take responsibility for your finances or take orders all your life. You’re either a master of money or a slave to it
This summary is made possible by the bestbookbits community that don’t just consume educational content passively but take an active role in taking their life, business, and goals to the next level. They realize their real enemy is THEIR INNER ME. Get yourself out of the way and let me coach you on achieving that next breakthrough in your life, business, health and goals. Click the link below to book a free chat now, come say hi.
https://calendly.com/bestbookbits1/15-minute-bestbookbits-chat
