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Wealthy Dad, Poor Dad is an absolute juggernaut of a guide–it’s been on the bestseller lists for so long as I bear in mind. I re-read this guide yesterday. Man, there are some actually nice factors, like how wealthy individuals generate profits work for them and the way everybody else works for cash. The primary chapter is pure magic–learn it. Certainly one of my favourite quotes is from his Wealthy Dad:
Most individuals by no means examine the topic [money]. They go to work, get their paycheck, steadiness their checkbooks, and that’s it. On prime of that, they marvel why they’ve cash issues. Few understand that it’s their lack of monetary training that’s the drawback.
He takes a dim view of people that blindly make choices with out stopping to ask themselves why:
A good friend of mine in Hawaii is a superb artist. He makes a large amount of cash. At some point his mom’s legal professional known as to inform him that she had left him $35,000. That is what was left of her property after the legal professional and the federal government took their shares. Instantly, he noticed a possibility to extend his enterprise through the use of a few of this cash to promote. Two months later, his first four-color, full-page advert appeared in an costly journal that focused the very wealthy. The advert ran for 3 months. He obtained no replies from the advert, and all of his inheritance is now gone. He now desires to sue the journal for misrepresentation.
It is a frequent case of somebody who can construct a good looking hamburger, however is aware of little about enterprise. After I requested him what he realized, his solely reply was that “promoting salespeople are crooks.” I then requested if he could be keen to take a course in gross sales and a course in direct advertising and marketing. His reply, “I don’t have the time, and I don’t need to waste my cash.”
The guide does a implausible job instructing how to consider work and cash. Its early elements are among the finest I’ve learn.
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