The Differences Betweeen the Wealthy and Everyone Else
I recently received an e-mail from a young lady who had doubts about the principles of wealth found in "Rich Dad, Poor Dad". She mentioned a couple of past failed investments, and wanted to know what I thought about investing and financial freedom - whether it was just a myth, or whether it could be acquired. I thought I'd share it here for the benefit of those who have struggled with investing, or perhaps from ventures that didn't quite pan out. Here's what I wrote back to her:
"Dear ________,
I want to address your point below - because I think you make a very interesting point about money. I do believe that most people have a great opportunity to put Rich Dad's principles into practice to create wealth for themselves. You said "the rich get richer"...but remember, many who are rich did not start that way (many who have a large inheritance don't stay rich for long). In fact, they started very poor, with little to no money, and worked their way to freedom. HERE ARE THE DIFFERENCES between those who achieve financial freedom and those who don't:
1) They have different beliefs about money.
The person who becomes wealthy believes differently about money than the person who doesn't. Example: The wealthy BELIEVE that "money should work hard for you" while the poor and middle class BELIEVE that "you should work hard for your money". These are opposite beliefs - so, the rich keep FINDING WAYS to have money work for them, while the poor and middle class keep FINDING WAYS to work harder for money. See the difference in beliefs, that ultimately effects the person's behavior and their results? Another example: If I believe that every person is valuable, then what happens? I treat every person I meet with respect. What about the person who believes that a particular race - African-Americans, or Asians, or Hispanics, or Americans are INFERIOR to their own race, or "bad" - how will that person treat them? With disrespect, or hatred, or both. You see? What someone believes in his/her heart correlates with how they will behave.
2) Those who become financially free never, ever give up - even after failing numerous times.
You mentioned trying a few investments that didn't work out. Why didn't they work out? I'm sure the reason comes from this one simple reason: you did not have enough information to evaluate the investment. So, even if you say "The opportunity was a scam", or "My friend made me do it", or "It wasn't the right time to invest" - all these reasons come from the fact that you did not adequately EVALUATE THE INVESTMENT. Evaluating an investment includes understanding the risks, having a contingency plan, and getting expert help to best make your decision.
3) Those who become wealthy never stop learning.
If you mess up in an investment, it doesn't mean give up. It means you look at the mistake and figure out why it happened to make sure you don't get yourself in that situation again - when you do this, you become WISER. The poor and middle class try something, and when they fail, they either blame a person or circumstances AND THEY NEVER HAVE ANYTHING TO DO WITH THAT AGAIN. That's not good! Just because I mess up one real estate investment DOES NOT mean real estate is a bad investment!
I hope this helps - I'd like your opinions on what I've shared -
To your future.
Jim"
I'm still waiting to hear back from her - in the meantime, I hope this helps you.
(C) 2005 RadiusEnterprises.com. All Rights Reserved.
Jim Young is a published author, successful real estate investor, web developer, and internet marketer. He shows people how to actually generate substantial income on-line using very simple, easily modeled systems. An example of such a system that you can study and duplicate is at: http://www.RadiusEnterprises.com
Latest News
 Dividend.com | Billionaire investor places next supermarket bet MarketWatch - Yucaipa's investment funds have been aggressive buyers of Whole Foods shares since Nov. 24, spending a net $98 million to amass the stake. ... Billionaire investor Burkle bets on Whole Foods |
Thomas, McNerney & Partners Promotes Three Members of Its ... PR Newswire (press release), NY - Thomas, McNerney & Partners is a health care venture capital firm with approximately $600 million under management, focused on investing in life science and ... |
Uma Thurman No Help to Arpad Busson in Madoff Fraud’s Nightmare Bloomberg - In mid-December, EIM disclosed it was one of at least a dozen funds of funds caught up in the massive alleged fraud perpetrated by New York investment ... Hedge funds’ heyday over Hedge Funds Meet Their Match |
Appleseed Fund Ranked by Lipper as Top Performing Midcap Value ... CNNMoney.com - "Since the Appleseed Fund's inception, we've shown it's possible to outperform the market by investing in companies with strong sustainability records and ... |
 Express from The Washington Post | You Are About to Make a Bad Investment Motley Fool - Across 10 asset classes, over a near-40-year time horizon, and in increments of three, five, and 10 years, there's one investment vehicle that made for a ... The Flight to Safety Could Burn You Wednesday's Biggest Stock Stars Tough Times, Great Opportunities |
New T. Rowe Price mutual fund eyes global investment Bizjournals.com, NC - T. Rowe Price Group Inc. is launching a new mutual fund seeking reward amid the risks of global fixed-income investing. The Strategic Income Fund will ... |
 BBC News | Learning from Madoff's Ponzi scheme WKOW-TV.com, WI - Another important lesson from the Madoff Ponzi scandal is that investing money successfully also requires some homework on your part. "If you're investing ... Video: Congress Sounds Off Against SEC in Madoff Affair Congress Demands SEC Speed Madoff Inquiry to Improve Oversight Re-defining Risk: 5 Investment Rules for 2009 |
Orlando-based CNL Financial to launch real estate investment trust Orlando Sentinel, FL - Orlando-based investment giant CNL Financial Group Inc. is planning to launch a new real estate investment trust investing in commercial property globally, ... |
Private equity job cuts continue with Sun Cap Reuters - Sun Capital, which specializes in distressed investing — about the only investing there is to do right now – is cutting 23 staff, or roughly 10 percent of ... Sun Capital Shifts Its Focus and Cuts Back Sun Capital to cut 10% of workforce |
Advocacy group finds Texas 'under-investing' in kids Houston Chronicle, United States - "The lesson here is that under-investing in our children has real consequences," said Eileen Garcia-Matthews, executive director of Austin-based Texans Care ... |
Resources
-
No Money Down - Creative Real Estate Investing!
Learn how to control real estate Without credit checks and no money down! You can Buy With No Credit!
-
real estate foreclosures- home69
Proven real estate Investing course specializing in foreclosures and pre-forclosures.
-
Real Estate Investing
How To Start And Run Your Own outrageously Profitable Fixer-Upper Business In As Little As 45 Days, even If You Can
-
Foreclosures - Real Estate Investing - Short Sales.
Learn about foreclosures and real estate Investing techniques like short sales and subject to financing
-
Online Trading for Financial Freedom - stock daytrading strategy.
Stock index trading strategy for beginning and experienced traders alike.
-
Real Estate Investing - Foreclosures
How To Start And Run Your Own outrageously Profitable Fixer-Upper Business In As Little As 45 Days, even If You Can
-
Real Estate Investing Course for Profits in Investing
Real estate Investing course reveals proven real estate Investing strategies using Lease Options and Creative Financing where you can earn big money Investing in real estate with no down and no credit
-
Make money stock trading, day trading, Investing and trading options like the pros!
Turn $200 into $4,630 in 30 days by trading options online from your home PC. Step by step instructions for novices or investment pros. Make money stock trading, day trading, Investing and trading options like the pros!
-
Make real money Investing in real estate by Lou Vukas
Lou Vukas gives you the insider secrets to making real money in real estate regardless of your credit, finances or location at realestatefortunes.com.
-
Real Estate Investing
eBook on Real Estate Investing and Real Estate Marketing