In lessons nine to twelve Kiyosaki goes into a bit more detail about what is required if you want to be seriously rich. He looks at whether you value your money or your time more as this will definately impact on the type of investor you are.
Investor Lesson 9 ~ Each Plan Has A Price -What is the difference between being secure, being comfortable and being rich? The difference is price, if you want to be comfortable and secure you need a lot less money than it takes to be truly rich. At first glance it appears price is measured in money but it is actually measured in time, a more precious asset. Most people are not willing to invest the time, they wish to get rich quick and are in such a hurry to make money they lose both time and money. Are you willing to invest the time ?
Investor Lesson 10 ~ Why Investing Isn’t Risky – Anyone who has ever said investing IS risky has either not been trained to be an investor, lacks control or is out of control as an investor or is someone who invest from the outside then the inside.
Investor Lesson 11 ~ On Which Side Of The Table Do You Want To Sit? – The poor man says work hard and save money, the rich man says working hard and saving money are important if you want to be secure and comfortable. The government taxes people when they save, when they spend and when they die. If you want to be rich you will need greater financial sophistication than merely working hard and saving money.
Investor Lesson 12 ~ The Basic Rules Of Investing – Investing is comprised of seven rules. The first basic rule of investing is to know what income you are for, either earned (work, job etc.), portfolio (stocks, bonds, mutual funds etc.) or passive (real estate,patent royalties, license agreements etc.). The second basic rule of investing is to turn your earned income into portfolio income or passive income as efficiently as possible. The third rule of investing is to keep your earned income secure by purchasing a security you hope converts your earned income into passive and portfolio income. Fourth basic rule of investing is, it is the investor that is really the asset or the liability. Fifth basic rule of investing is, a true investor is prepared for whatever happens. A non-investor tries to predict what and when things will happen. Basic rule number six is, if you are prepared (educated and experienced) and you find a good deal, the money will find you or you will find the money. In reality, in the world of investing, regardless of if it is real estate, business, or paper assets, the key is always people, people people. The best real estate in the best location lose money because the wrong people were in charge. Lastly basic rule number seven, It is the ability to to evaluate risk and reward. An investment which brings more risk then reward is not a financially good investment.
Have a Fantatstic Day
Teresa and the Team at
Tags: real estate investing, stock market, wealth
