Key Points to Ponder (Excerpt from Robert Kiyosaki's Rich Dad, Poor Dad!)

Key Points to Ponder:

1. Learn how to make money work for you. Do not work for money.
2. Invest more in financial education.
3. Buy assets not liabilities. Asset is something that puts money in my pocket; liability takes money out of my pocket.
4. Mind your own business. Start building a solid asset column.
5. Don't play it safe, play it smart.
6. Overcome the Fear of Losing Money
7. Pay Yourself First
8. Take Action Now! (not tomorrow)

Wise Points of View:
"The lack of money is the root of all evil" (not love of money)
"How can I afford it?" (not I can't afford it)
"Study hard so you can find a good company to buy." (not a good company to work for)
"The reason I must be rich is because I have you kids." (not the reason I am not rich)
"Learn to manage risk." (not don't take risk)
"My house is a liability, if you're house is your largest investment, you're in big trouble."
"Money is power, money works for me!"

Note: There is a difference b/n being poor and being broke. Broke is temporary, poor is eternal. So, say I am temporary broke but abundance is coming.
 

Thanks to Robert's Rich Dad, Poor Dad!

"Awaken the Financial Genius that lies within you. Your genius is waiting to come out". A solid earth shaking message of Robert Kiyosaki on his book Rich Dad, Poor Dad.

I am one among the millions and thousands of people searching for financial freedom - freedom from finances not depending on your SSS, Phil health, insurances and other benefits the government offers after retirement.  After attending Bo Sanchez seminar, "How To Be Truly Rich" and reading his book the 8 Secrets of the Truly Rich, I continue studying, reading, searching for information related to finance management. Because I am so afraid I will lost my earned income, I invest in mutual fund, the safest investment. I wanted to invest in stocks but I don't know how to start and I don't know how money works in the stock market.

Learning the basics of investment makes me very proud of myself and I am always thankful to Bo, he opens my eyes to the Investment world.

Though I have a mutual fund, I am not confident I have enough funds. So after reading Robert's book Rich Dad, Poor Dad!, it widely opens my mind. My fear in losing my money holds my back so I cannot start investing in stocks. What I'm doing is playing safe - save an emergency fund and invest in mutual fund. There is nothing wrong with that however if my goal is to be financially free, I have to do it smart. But I am really afraid what if I will lost my money - Robert's answer, "If you know what you're doing investing is not risky.". It's common sense. So what to do then is to invest more on financial education. Be financially literate! When I say invest, you have to pay if needed. I cannot deny the fact that if I saw seminars with charges I back out. This should not be if my aim is to learn. On his book, he quoted, "the key to financial freedom and great wealth is a person's ability or skill to convert earned income into passive and or portfolio income."

What are the different types of income?
1. Earned Income - money you work for
2. Passive Income - derived from real state investment
3. Portfolio Income - derived from paper assets ( bonds, stocks, mutual funds)

Robert's book has a lot to say, I recommend you read and you will understand it better. I assure you, after reading the book you will have an idea how to manage your fear and how to play it smart in the field of investing. Again, risk comes from not knowing what you're doing. I am now in the process of studying what he call, the science of making money. I want to share because it is my way of thanking Robert and my way of learning - to put into writing.

There is one thing I love the most that I want to include on my objective to be truly rich, "All you need to be is generous with what you have, and the powers will be generous with you."