Investor Vs Trader

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The investment had to make sense today, not tomorrow. I say this because too many people have the buy, hold, and pray strategy. Rich dad always said, “Your profit is made when you buy, not when you sell.” Every property we bought had to have a positive cash flow on the day we bought it, and it had to have a positive cash flow even in a bad economy. 

Know the difference between being an investor and a trader. We were investors when we were willing to buy and hold the properties for their cash flow. We were traders when we knew our entry as week as our exit strategy. In other words, an investor buy to hold. A trader buy to sell. It you want to retire rich, you need to know how they are different and how to be both.

If you can understand this principle of investing, you will understand what the velocity of money means. It means you want your money back as quickly as possible so it can be reinvested to acquire other assets.

Robert T. Kiyosaki

Overcoming Fear

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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 the fear.

Failure inspires winners. And failure defeats losers. It is the biggest secret of winners. It’s the secret that losers do not know. The greatest secret of winners is that failure inspires winning; thus, they are not afraid of losing.

Robert  T. Kiyosaki

The Most Destructive Word

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“The most life-destroying word of all is the word tomorrow.” He said, “The poor, the unsuccessful, the unhappy, and the unhealthy are the ones who use the word tomorrow the most.” These people will often say things like, “I’ll start investing tomorrow” or “I’ll start reading tomorrow”. Rich dad said the word tomorrow is the word that destroys more lives than any other single word. He said, “The problem with the word tomorrow is that I have never seen a tomorrow. Tomorrows do not exist. Tomorrows only exist in the mind of dreamers and losers. People who put off till tomorrow find that the sins and bad habits of their past eventually catch up with them.” He finished his comment by saying. “I have never seen a tomorrow. All I have are todays. Today is the word for winners. Tomorrow is the word for losers.”

Robert T. Kiyosaki

Work to Learn

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Most people need only to learn and master one more skill and their income would jump exponentially. 

When it comes to money, the only skill most people know is to work hard.

I recommend to young people to seek work for what they will learn, more than what they will earn. Look down the road at what skills they want to acquire before choosing a specific profession and before getting trapped in the Rat Race.

Education is more valuable than money, in the long run.

Robert T. Kiyosaki

Learn

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To be successful, you need to learn to overcome your fear of being rejected and to stop worrying about what other people say and think about you.

To be successful you must learn to lead people. The ability to get along with and inspire people is a priceless skill, a skill that can be learned.

Have a strong mentor program. You want to learn from leaders, not advisors. You want to learn from people who are already leaders, who are on the right side, and who want you to succeed.

Robert T. Kiyosaki

Today

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Many people do not realize their financial goals because they use such words as someday, maybe, or in the future. Rid dad always said, ” Your future is created by what you do today, not tomorrow.” When you look at the above figures, the question you may want to ask yourself is this: “Is what I am doing today going to get me to the financial goal I want tomorrow?”

If you are truthful and want to change your plans, the first thing to do is to change your reality by changing your plans, your words, and your daily actions. Your future is what you do today, regardless of your dreams.

Robert T. Kiyosaki

The Information Age

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Today, wealth is in information. And the person who has the most timely information owns the wealth. The problem is that information flies around the world at the speed of light. The new wealth cannot be contained by boundaries and borders as land and factories were. The changes will be faster and more dramatic. There will be a dramatic increase in the number of new multimillionaires. There also will be those who are left behind.

In the Information Age, money is increasing exponentially. A few individuals are getting ridiculously rich from nothing, just ideas and agreements. 

Robert T. Kiyosaki