Monday 2 January 2012

Want to be Rich?

Spent some time reading a book "Why we want you to be rich" by Donald J. Trump and Robert T. Kiyosaki. The main message of the book is to help middle class americans out of poverty by investing in buisinesses and real estate.

Below are some the points which I find very motivating and important:
  • Everyone has money problems, if you want to make yourself rich, solve problems. Idenifying a problem creates the opportunity for creating a solution
  • If you are in business, you need to learn how to sell
  • In a world of less and less job, it would be foolish to count on job security
  • A man's reach should exceed his grasp, if your reality begins with your dreams, your dreams will become a reality
  • Write your own script. Then produce it yourself and find yourself living the way you want to. Thats freedom, that's power and that's winning
  • If you cannot control your mind, you cannot control your life. Today whenever I meet someone who is unhappy, unhealthy and unwealthy, I know it is simply because he or she has lost control of his or her mind, the greatest tool given by God.
  • Teaching is one of the best ways to learn
  • Loving what you do, Having patience and acting in the face of fear
  • Invest in financial education
  • Rich people use more leverage than poor people. If you want to be rich, you need leverage.
  • The more financially educated we are, the more control we have.
  • One way to maintain control is to always keep the big picture in mind.
  • A true investor buys to own the investment and pass it on for generations
  • Excellence can become a habit
  • Study accounting and business law
  • Raise the bar on yourself. Never settle for doing enough.
  • If you are going to invest in a business, real estate or stock, it is important to be able to read numbers. They are an important part of financial literacy.
  • Love is the key to a life of health, wealth and happiness
  • Mr Buffet looks for in a business is a well managed business that will grow valuable over time. He often refers to business value compounding, in other words accelerating in value.

2 comments:

  1. All the best to you!!! You will succeed with lots of love from family!

    ReplyDelete