- How to develop a money mindset
- CHANGE YOUR EXPECTATIONS
- BRIAN TRACY
- Doomsday Prep for the Super-Rich | The New Yorker
- Don’t Prey on Your Followers
By the way, everyone needs to invest. Markets are beautiful. Financial Samurai can let me know if I am on his numbers or not, but I could not have done anything more over the years and it is real life. I did, though, also understand at the beginning that I needed to do much more as an investor. My taxable accounts about equal my k. I do fear everybody who started investing after are over optimistic, over exposed, and over enthusiastic about this bull market.
I do hope more people who be more balanced in their beliefs. But, it takes real pain, loss, and disaster for people to change their views. How long more do you plan to work for? Thanks FS. Everyone is way too optimistic right now. Since ? Way too easy. There are some books out there that talk about investment cycles and investment returns and to be mindful about where you are at in the journey.
The difference between hanging it up and being successful is sometimes nothing more than your luck in timing what the next market cycle brings. I am simply gathering cash with the dividends and new contributions. It is tough because such low rates are forcing us into stocks. I am keeping the blue chips and focusing on the riskier satellites. If I needed the income from my investments, I would probably harvest now from my accounts what I think I needed for income in I would keep investing though because it feels like the only game in town.
That said, December is always the best time to go shopping in the market because of tax loss selling. So this year, if I wanted to get into big energy stocks, for the long term time frame, and I kinda do, I would do it before year end. A slight problem with your maths Sam is your assumption about savings rate. Otherwise quite interesting to see! Do tell me when you come to Melbourne for the tennis. I could change my assumptions and try and live forever on a set amount of disposable income.
Enjoy university and all the freedom and joy it brings. But Sam, where were you 4 years ago? You could have gotten one hell of a bargain! Maybe I can really buy the place because if you look at this chart in this post, it may or may not have a 3 handle next to it too! And the business is a big bank, basically screwing them over by charging these fees and not providing much of a service to the customer. They then get paid much more with experience. Where I live just about everybody makes 6 figures.
Yes, I am in management, but out of the top 7 or 8 employees in my company of 35, I am not a part of. There are some people who got lucky and started working for Google and the like in the early days and became quite rich. It may even be a better bet than being an entrepreneur. Not that different from living on considerably less than your earnings in a high paying job. It gets down to what you find important.
My wife and I bought our dream house in It was on top of the hills overlooking a private country club with a view of Los Angeles. The price is so high because almost anyone in the world would want to live there. That is why these dreams are only available to the super rich- the people who inherited their money most of the time, or the bankers controlling the financial system and the federal reserve. I think you missed the crux of the discussion. There are quite a few self made business people that can afford this lifestyle. Open your eyes.
I believe his point was that if you want to be in the super-rich, then be an entrepreneur. Obviously not everyone can do it, but I think more can do it than most people think. It just takes risk, sacrifice, work and patience — not something everyone has for various reasons. Most of the super-rich did not become the super-rich out of thin air. And your comment about bankers is probably one thing holding you back. The whole point of this blog is that everyone can become super-rich however you define it — rich to me may be poor to you. These are lessons I wish I had learned at 20 and not At 40, all 4 of those attributes are in shorter supply.
I build my wealth and my business. The point is to say entrepreneurs make more than these positions is, on average, a complete lie. Let me clarify for you. To get super rich, it takes equity. Entrepreneurship provides a much higher chance to produce equity. Every single one of these houses is owned by an entrepreneur. The same goes with the Gold Coadt in SF. Half the houses are probably owned by entrepreneur and their spouse also. There are plenty of fantastic hotels and places for lease. And the best part is being able to hand the keys back to the owner after finding out then, yes, even a 4 million dollar home has all sorts of issues electrical, bugs, water leaks if it does rain, and just plan deficiencies in location that can occur over time when they keep building out prime real estate.
Cheap in the off season. The family keeps asking when we are going back. Of course, the summer low season should have been less and the winter high season flood of Russians, Brits, and anyone from the Far East with bags of cash was the pay-off… Nothing like getting together with friends at the Jumeirah Islands Club in December and January, kids playing in the pool while we ate and drank well.
How did you feel living in such an expensive house? Sam, Good post and very interesting when you run the math — I think you are spot on! I purposeful hid the rows to make space for the graph. The hidden rows are basically the same income levels followed by the same formula. Relevant article as I have been thinking about my dream home for the past few months and wondering if it will ever be obtainable.
Maybe it is just good to have the dream. Maybe I should stop dreaming and just be content with the wonderful things I have. But I have represented enough people who started without a degree and with one truck or one tractor. And from that they built up a multi-million dollar business.
Not by offering something completely unique, but simply by providing a service at reasonable prices. I really think a lot of people could do this if only they took the chance. Even now, I suppose I could, but at some point it is difficult walking away from a good paycheck and taking a risk with a family to support and putting it on the line when I no longer have the energy. This is why you should do it young. He started a sandwhich shop.
The ROI has been a lot better than a degree. There is a great lesson there. If you can buy or lease a truck, you can start a moving company — its easy to hire some labor. Do it right and then you can expand. I would like to see this encouraged more in our country. That could be disheartening, but I find it to be motivational. If I bust my tail in some side gig to supplement or eventually supplant my income, maybe I can afford that dream home.
This is a good reality check, and agreed, namely successful entrepreneurs can afford the more ritzy luxury homes. Materialism and vanity can tug at the most hardset of us savers. Your words ring so true. Without factoring in market growth, these numbers are absurd sorry, but true. In response to your earlier query to Ryan T. If not, what is your age and current net worth so we can compare your figures to my chart.
We could have paid cash for our dream home in our late 20s. Ah, hah! Pretty cool huh? So our combined income has roughly followed the trajectory of your single banker to this point. That substantial difference is due largely to market growth. Or are you saying you are below average, and therefore the numbers are understated since average or above average people in these industries generally have much more?
If his hypothetical banker, doctor, and techie were to put their money in the market rather than stuff it in their mattress, the result for a well compensated person would approach or exceed his hypothetical entrepreneur. I understand that you think every banker, doctor, and techie have much more money than in my charts. Hence, could you give some examples as to how much more money do you think everyone has at age 40, 45, 50, 55 for example? Thanks for contributing! Now hold on there pardner, I never said anything about everybody.
You listed very specific parameters in your examples. It probably excludes anybody who leases a BMW, gets horse-riding lessons for his daughter, takes expensive vacations, upgrades houses frequently, etc…. It baffles me why you refuse to concede that point. Anyone who is even over the last 14 years has either been micromanaging their investments or happened to drop in huge chunks of money at the absolute worst times, and then take that money out after the crash.
My dream home would be small and easy to maintain. Spend my money and time traveling around the world! I like this approach better! I figure building more income streams and having a huge portfolio that is providing about k a year!
How to develop a money mindset
This would provide me more freedom to do more things, heck with that sort of money. You could travel around the world and stay in the best places with the best views! Those scenarios even with being a top earner just seems too tight. There is no way I would feel comfortable putting a huge chunk of my net worth into one property.
Entrepreneurs are very interesting people to BBQ with. Glad you enjoyed it William! It really is kinda tough nowadays for doctors. Lots of red tape, and less prestige as the past. Great post. Also, the more you display your wealth, the more people start expecting of you, and then you end up becoming a slave to your assets and the expectations of others.
Not sure if I agree with the cardiologist pay I work in healthcare since it would rise very quickly, but not grow as much over time. Regardless, I agree with the basis of your article. The debt that physicians take on is insane, too. I would like to move in to consulting at some point, but it is difficult to dive in. I may wait until reaching financial independence and then try it.
At that point I would have all of my costs covered and would not need the income. That is an incredible view by the way. The idea that most people can start and maintain a business is more than a stretch. Even many most? Drop out of highschool, skip college and start a business? Not unless you are a genius or extremely good at what you do. The question is, whether people have the audacity to believe in their dreams and try.
Since you used the 20 year mark for the professions you mentioned, why not consider that as a factor in entrepreneurship? No risk, no reward. Everything is a long shot. Both the top earners AND the bottom earners get the largest share of their total income from sources outside their wages. This post is both motivating and depressing at the same time. However, enough people have gotten to that level of wealth in the big metropolitan area to keep the hope alive for other people to at least try.
I wonder where all this money comes from, but I think the reality is that there are a ton of people who do or have done very well. Being a Dr. How they got there and around what age range is still a bit of a mystery to me. I think most people tend to hang out with other people in their social economic range in most cases. The mystery is really no mystery.
Lots of hard work, lots of risk taking, lots of worry, sleepless nights, and lots of LUCK. Maybe cut the home cost in half and spend the difference on trips to the great places. Too great an appetite leads to chronic dissatisfaction. Feels good. How big will your new home be now? New was going to cost too much, but redoing current home was going to disrupt our lives too much. I know of a company that recently sold. The CFO had only been there for about 18 months. After maybe four years in business.
Gotta love those payout packages.
CHANGE YOUR EXPECTATIONS
Professional C-level execs can be a great, great gig. Being a board member too is not bad. Another timely article Sam! Funny thing is that I actually have less desire now to have an expensive dream home than I did when I was aspiring to get one. If I were sitting on that lanai though, I might change my mind!
You have to take risks and you have to be an entrepreneur. Great stuff and congratulations! What do you plan to do with all that money? I wonder if the seller of your current residence is kicking themselves for selling so cheap! Good managers and owners know that this is hardly naive behavior. But, compassion, kindness and employee appreciation do often get overlooked if it perceived to interfere somehow with the bottom line. One of my fondest memories from a past life in Corporate America is a time when my boss called me into his office and told me I was being too customer oriented.
You are always good for an uplifting post. I think being naive is one of the big reasons that people become so successful with their entrepreneurial ventures. I love my day job. And my new wife. And the role I have in my church. The Richard Branson references brought back some memories — as the band I run were one of the first suppliers that his Virgin Bride company put on their recommended suppliers list. So she took the idea to Richard Branson. Not only did he run with the idea, he made her VP of Virgin Bride, or an equally senior position.
Thanks Paul! And you know what? It worked! When we were bought by another company and I was no longer allowed to do it my way, I jumped and now do my thing my way. You said a great deal. I would throw one word into the mix that has helped me more than any other over the last 30 years in business — Balance! Like You, I understand the corporate world; but 30 years of experience has shown me the things I have done right and what I would have done differently.
Balance is the Key — easy to say…hard to do. Thanks again…. How did we miss each other in the hallway? I love this post. It reminded me of all the people who lined up to feed me my dose of practical, mature advice on leaving Corporate Money World to become an independent artist. Is it hard? Hell yeah. But the thing I could never give up now is the flexibility I have to try new things. He was a weird, weird dude. My own joy at work, and the beginning of the expansion of my business came when I started to write about things that I really, truly wanted to say but was too afraid to in the corporate setting.
I say, please run the world. Thank you for lifting the curtain of false perceptions and providing a brilliant and intelligent explanation of the benefits in being naive. For example, in a cut-throat business environment, caring emotionally and personally for another human being is considered naive and a sign of weakness. However, I believe caring is powerful. In my opinion, you will be able to see the situation from their point of view. You are now listening really listening and being proactive and able to meet and exceed their expectations. Yes, you can, but you have to care.
You get your work done so much quicker. You waste your time. In regards to business tactics, legal strategies and negotiations you need to take caring a step further. You need to love in order to remove yourself emotionally from the situation and put yourself in the other person shoes. This will allow you to recognize legal strategies, deception and tactics so much quicker, which you will need in order to be proactive. I think the only truly naive people are the ones who think their stories are already written. Following your own path is brave, not naive. Inspiring story, its always uplifting to stumple upon a post that lifts you up and and carries you forward, thanks.
Great post, also I was just thinking about reading The Art of Possibility again, its a wonderful book. Very inspiring to someone who has just left the world and is looking at opportunities to fly solo. Interesting how the universe works — my blog takes a similar point of view. People are what matter and we need to be in control of our thoughts, actions and activities and not have them dictated by the PTBs Powers that be Why are they in Power anyway — because they said?
Thanks for the great blogs. I enjoy reading them. Love to hear any comments on it, or how people have created teams that ask the naive and curious questions that so often lead to gold! Game over for me too. While there is some built in redundancy, you use most of the thing, just not all at the same time!
Several times, in fact it hit me in the face yesterday after reading some old emails when I was thrown into a scuba business and had no clue what the 2nd stage was at the time.
Well I prevailed then and try to swim above water now. No harm in that, right? Great post, Sonia, by the way. I spent years in a corporate environment thinking they actually wanted to get it done right! What was I thinking?! But somehow we had the manpower to answer the complaint call, forward it to 3 different people, have a meeting about what we should do about it, then fix it only half right, then get another complaint about it only being fixed half right, foward to 3 … and round and round. That is why I am doing as you are and throwing in the corporate towel and starting my own thing….
This is awesome. My friends all called me Naive for leaving everything behind to move to a new country on the complete opposite side of the world with no plans or anything. Now they are jealous of the life I have. Now who are the naive ones? Perfect, Sonia. I would never have lived in paradise. I would never have lived my dream. So glad I was naive. It often goes like this:.
Your example of Branson also one of my role models is excellent—may I be so lucky as to be as clueless as him! I loved your paragraph about Branson.
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He clearly knew about marketing and publicity though. I wrote a song about jumping from an airplane with a silkworm instead of a parachute. THAT, I do all the time. I need a transplant of that kind of self-confidence pullease. Then 6 months later, I see someone else take off with a similar idea and make a mint. A naive employee of mine claims it is one reason for his success — I suppose it could be. Nonetheless, it is possible and it does work. Thank you for taking the time to post this!
You craft whatever topic you touch into enjoyable reading prose. I particularly like the concept of creating another frame to generate all kinds of opportunities. It reminds me of Feng Shui in a way. Have I mentioned how much I love you recently? Laughing, Charlie. Years ago when I was transcribing medical records, my boss told me I could live anywhere and work for her, as long as I had high-speed internet. So to her surprise, I went to live in Europe for 10 months. After that, no one was really surprised when I decided to twist balloons for a living. Loved this article and I read your blog all the time.
The first of my friends to do so, too! I found you!!! Sonia, your brilliantly written post made me so happy and then I find all these positive comments and people who believe in the power of their goodness. Shine on all of you. We DO light up the world! You summed so many of the reasons why I found the corporate grind so insufferable. Sounds like you were too pro-active, bright and full of the right attitude in an environment that was dour, sour and had little life and ticker left in it. That tends to happen to positive people. Great post, thanks. To be honest, I lost track of the main message around the middle of the article, but going back to Richard Branson who I personally admire too catched all my attention.
Thanks and congrats. I bet they are all envious of your success! I have been, and am still, called naive, innocent, soft, idealistic, etc. And, while I have tried to tow the corporate line, it has never been a success. It is not me and not what I want. The alternative is hard, not least because you are working against the tide of opinion. Working with BNI has helped — meeting other like-minded individuals who are striving in the same direction.
Also the internet, blogs like this, social media, particularly thought and opinion coming from accross the pond. Thought in America seems far more open and intuitive, although you obviously still have the corporate machine to be wary of. In the UK, we are very much tied to a cynical viewpoint, both in business and politics and most people just assume this is the only way to be.
Excellent post and inspirational for the rainy, dreary morning it is in Ireland. I became a Manager at the age of 20, so I had no choice but to be naive; and, as scared as I was, I followed my instincts and it all worked out fine. I get burned sometimes, but then I learn some more. During one particular conference call I was told that the project was going in one direction and I bit my lip as long as I could. I needed to speak up so that maybe it could get fixed. About an hour later I got a call from the Controller of the company who started screaming at me.
I listened…listened more…then asked him if he was finished. He said that he was finished. If we all saw the great in people instead of seeing just their weaknesses the world would be a great place. People skills today are not part of the education curriculum, if they were I believe we would all be better for it.
Doomsday Prep for the Super-Rich | The New Yorker
Keep up the great work. Best regards Steve. Thank you for starting my day with this. I like the thought of being naive, especially if the alternative is being cynical. Where I went incidentally…. Branson has made an art of appearing naive when all the time he is astute. I know someone who visited him when he was planning the airline. All over the floor of his narrow boat office the floor was covered in research papers and documents. He is a very thorough man. I agree that Branson is astute. Often canny, but not cynical. Will bookmark your page and read it again.
Thank you, Sonia, for reminding us that sometimes we just need to dive in, throw caution to the wind, and be successful anyway. Very well written and entertaining with a sense of humor I admire. Thanks for sharing. Oh thank you thank you for this post! I was that naive girl back in my corporate days and it has been awhile since then.
Don’t Prey on Your Followers
Sonia- awesome post as always! It took a long time for me to realize, but I get it now. A kind word. Sincere generosity. Making real connections with people. The trifecta of success! What a sensational read. I am astounded by how much of blogging about virtually any subject matter at all seems to reliably find its way back to motivating the misunderstood to press through the stereotyping, neigh saying and public ridicule.
My story, like so many others, is peppered with struggle. As a nearly 40 year old dreamer, I have spent much of my life dividing my time between listening to the browbeaters and trying sincerely to account for myself and telling then all to go scratch. And now at again, nearly 40, I find myself — and this is plain funny — learning how to write a good headline from the same people who are helping me exercise my emotional demons. How critical it is that we forgive ourselves for doing it differently and how powerful is the urge to, as I said, get in line, well this post is my mantra these days.
During that time I recorded a few records. They are responsible for reminding me with their rejection how different I want things done and how unwilling I am to concede and inch. Thank you for a wonderful beginning to my morning. Regards, Scott. I can find the good in almost anyone, which irks people that are naturally angry and judgmental. It is funny how I got to your post.
From his blog, I got to this article and after reading it twice, I am here writing a comment because I really felt touched by your words. I have always been a naive person. I am sure sooner or later, I will make good money with my online ventures, and that day, for sure I will remember your wonderful article and my thoughts and ideas about it. I wish you all the best, always. Nail on the head Sonia. My relationship with my clients is what allows to go deep when we need to go deep and laugh ourselves silly when we want to.
This is a good reminder to me, thanks! Sonia, great work and words. Sonia, Thanks for this. Being nice and being successful in business Are not exclusive of each other. One need not be shrewd and aggressive to get ahead. Sonia, you are so damn right about this naivety of a thing. I only remember creating something that I really cared about! No one bothered to ask if I found fulfillment in it or not, what matter was the money.
Wow, Tito! When you are passionate about what you do and give to other, money will come. Trust me! I have been called naive many times by a couple of my more conventional coworkers. My response? No progress will ever happen. I have no problem with failure except for not liking it , because my idea of success is wrapped up in my identity and the effort that is MADE, rather than the outcome though I do thrive on a wonderful result, to be sure! And, so, I embrace naivete as a virtue and use it as a tool. However, I was the new kid in town.
What the heck did I know about doing business on the internet? Then I looked around and saw very successful internet business people like Dave Navarro and yourself doing exactly what I was being told not to do. I too have been called naive. Today I teach Positive Leadership so does Tal Ben Shahar at Harvard and help leaders understand that by building positive capacity in an organization they are building emotional equity.
Thank you for a most inspiring article. I think the principles behind social media is a start and exposure to more of this type of insight is key. Thanks for doing what you do and inspiring us to be who we are. Oh yes… throughout my corporate career I battled bosses who followed the traditional methods of managing people. So I went ahead and followed my instincts. I absolutely, totally, utterly believe everything you say in this post. But frankly, as someone who has spent the last couple of years online infogobbling from the best and I include you there , I think what you describe is becoming the next Way to Do Online Business Properly.
So that now if we want to be successful bloggers or online entrepreneurs, rather than adopt the cold-blooded, hard-charging businessperson model, we have to become more like the freewheeling, left-of-center, take-a-stand folks who are leading their tribes to new ways of making a living. Naive enough! Creative enough! Funny enough! None of that, incidentally, is meant to take anything away from your well-written and really, really helpful post, mind you. Be weirder! You might find the Tony Hsieh book inspiring. Oh, wait. When will someone give me one fully-financed year off the rest of life just too reeeeeeeeeead?
Meaning, too nice, easy to take advantage of. Perhaps I was just sharing the abundance in the first instance , knowing full well it would return to me down the road; perhaps the honesty was necessary to allow someone else to grow. You can do it! My husband just started in a band again after a 15 year hiatus. Ok, I have no clue what style of music you like. Hi Sonia — did you write this post just for me?
I think I have spent my entire life being naive. Naive by whose standards though? This article is so timely. I just cling to the daydream which will become reality! They grow, they lead, and they run awesome businesses with happy employees while other people swim in their riches feeling miserable about themselves and their lives. Your Branson analogy cannot be dismissed thou, as his ventures do appear quite random sometimes, but he has partnered with experts and great things have happened, sometimes. Virgn is a culture, which has driven the technicians to deliver great results through great leadership.
Virgin is very unusual in the way they diversify, but there are underlying concepts that link the brand. I love this article! Someone even said that I lack killer instinct. Uh, so what? People are the most valuable asset. And surprise, surprise, the happy ones stay. I read this whole post smiling! For many years I was not clueless nor naive the term used to describe me was crazy! I turned a little cottage industry into a thriving business.
It is not the idea that fuels the business it is the passion and curiosity wedded to a powerful drive to turn ideals into reality! Ah, you reminded me of my old days — An angry young man.
I challenged the status quo even when I was in university. Did it pay me? No, at least not at that time. Did it harm me? Yes, I could never get into the line I loved — Physics. Some teachers hated me. If you now ask me was it worth it? Life pays you back in one way or the other…. Oh Sonia — this post speaks to my soul… and my mind.
As a former reporter I was often startled to see how many people were doing what they were expected to do, not happy and not changing. Yep , nothing matters more than people… not just your buyers but those you partner with, employ etc. Exactly something I strugle with. That way, you have to task yourself and explore possibilities.
But when you know too much, your mind is closed and there is little room for inspiration or creativity. Hello Sonia Simone. What a refreshing article. I used one of your articles in a presentation. You referenced Dr. No wonder you have so many readers. You use fine silk thread to spin your stories. The reference to the Virgin.. This post really resonated with me. I quit my full time job with a child on the way to work for myself as a hypnotherapist. Some people said I had my head you know where. We all are hypocrites.
Some on a petty scale and some on a larger scale. Hey how do you learn by not being afraid of failure. So unless you are perfect and have done way better than him I think you should keep your mouth shut. Some people just want all the praise and bragging rights and envious and greedy of others.
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In my own educated opinion this was a brilliant move. Alongside this company, you are passing up the thousands of apartments he owns and his hundreds of other ventures. How many jobs have you created recently? Hey Chad, I think most people are upset with this guy because of the hypocrisy.
Thank you Robert Kiyosaki for your cash flow principle has helped me to enjoy 7 figure income per year.
follow Appalling lack of integrity, and not surprising in the least. So many Americans are broke when they reach retirement age, for various reasons. I am there, so I can see through that lens clearly. I compare it to the taking a pill approach to getting better, versus working on your lifestyle.
Personally, the so called Rich Dad is a bad example. I knew him and members of the family. Once Oprah featured him, books sales took off and the rest is history. His philosophy is good; specific advice mixed. The whole point of his books is to turn on our heads what most folks feel is wealth. Expensive cars, large residences, expensive trips etc are what most folks feel they need to acquire to demonstrate wealth or feel represent wealth.
The lesson stands regardless of his personal bad luck. It is still a hallmark book that I think should be mandatory reading.
It is so easy to criticize someone in their absence. Why not do the honourable thing and challenge Robert Kiyosaki to an open debate in public and have him give his side of the story too. One day you will learn, hopefully, although I am not too sure of that, that by criticizing others you only hurt yourself. But I do believe that you are a long, very long way from that level of thought. May you grow to realize that criticizing others, especially in their absence, is not the thing to do. And of course, there will always be those who, like you, cannot think objectively and chorus your comments.
It is sad. It is also ironical that you do not respond to most of the positive comments that support Robert, but mainly those that agree with you. When you put your criticism of the man to him in an open forum and the outcome of that is published, then we will most probably see this whole situation in a brand new light. Robert Kiyosaki has been and is a powerful inspiration to millions of people worldwide, and that cannot be denied, tarnished or changed. I do hope you publish this comment although I doubt that you will, and even if you do issue a reply to this view, I will not respond to it.
This world needs more compliments not more criticism. But I wonder if you get that. If you do, it means you are growing and personal growth inside, is what you need … urgently. Thanks for sharing your thoughts. What I find hypocrisy in is clearly called out: both his expensive paid programs and upsells, along with how he managed adversity in that area.
An update: I could not agree with this author more. Today I attended day 1 of 3. It was a complete waste of time and money. Came home, started to research. Guess what? Needless to say, I will not be attending days 2 — 3 of the training and that money is lost. Lesson re-learned…. Thank you. I have been to his free workshop and been interested in going to his 3 day training. You made everything clear for me.
I saw massive holes in the salespitch like, what about vacancies with these massive mortgages we are supposed to be taking out on these properties? Finally, my favorite part, the last thing of the meeting they told us to give 10grand. I am not kidding. Gotta say, it was the most satisfying coffee I ever had. Look, when I first read his book, I thought that it was really great advice.
But then, I started looking into his past and how his book really went viral. He has been circulating his book through Amway, the same multi-level marketing company that has tricked millions of people into buying into their be an Independent Business Owner crap. He is a hypocrite that disguises bad financial advice with good ones and makes millions. I found this out a few years ago too.
When I did, I put his book down and started reading real financial experts. Who care if the man went through bankruptcy or not. All it really matter is his teaching make sense or not? Should we follow or not? Should we pay the asking price of or not? His teaching in the book poor dad rich dad is the best advice I ever had and he is a hero to me. And the reason why he became bankrupted , you got to think… business is war. The investor that invest with him will suck him dry. They are not no little cute baby. Banrutcpy is his problem. Learning his teaching is our decision.
Trump filed bankruptcy 4 times out of companies. The reason for having a corporation is to protect your personal assets, which is what Robert did. Robert K was a huge inspiration for me. Money is freedom. Money buys freedom. Without money, you still need it, but you only get it from someone willing to give it to you usually in exchange for effort at a job.
The book built my skeptics armor. Robert and his type sell dreams much like ted talks. They sell emotional highs. Musk , and luck. Save more than you spend eventually most of what you make and find a way to grow that saved money. For most of us, the hard way is the only way. So fat people stay fat, poor people stay poor, and debt never gets paid off. But I noticed he never really offered real advice on the actual mechanism of money making something poor dad did right thank you very much , nor the limits of money making most of us normal people encounter.
So, I know I should do more than make a paycheck. NOW what!? You need money for that. Save till you can buy a rental or capitalize on a hot sellers market. Its not easy, its not fun usually , and it often requires boring education into something you may not be interested in. In fact, it sucks alot of the time and it usually takes many, many years. You are putting away all that money. But the end usually justifies the effort: financial independence.
That was not in his book. But that is the reality; for most of us. Hey Robert. Why did you offer a FREE course to get out of college debt at the end of your article? Are you also using the same model if business to which you are condemning in your article? Negative — our free email course is truly free and there is no further courses beyond that. Gee, what a sham. Heard him speak at a conference — he was very unprofessional dropping F bombs with Devera younger children in the room. Very unimpressed. First of all. If anyone starts reading a book series like this or attending seminars thinking they just found the answer to their prayers.
Then they are just setting themselves up for disappointment. His first priority is to make money. That will always be his first priority. That is the priority of every salesman. As for bankruptcy.