Assalamualaikum wbt.
These are some random statements I acquired from the Rich Dad Poor Dad book. It is a great advice and of course it had motivate me in my life. U must read it too!
---------------------------------------------------------------------------------------------
**It is said that the fear of public speaking is a fear greater than death for most people. According to psychiatrists, the fear of public speaking is caused by the fear of ostracism, the fear of standing out, the fear of criticism, the fear of ridicule, the fear of being an outcast. The fear of being different prevents most people from seeking new ways to solve their problems.**
We will always have emotions of fear and who controls the past controls the future, who controls the present controls the past greed. From here on in, it is most important for you to use those emotions to your advantage and for the long term, and not simply let your emotions run you by controlling your thinking. Most people use fear and greed against themselves.
That's the start of ignorance. Most people live their lives chasing paychecks, pay raises and job security because of the emotions of desire and fear, not really questioning where those emotion-driven thoughts are leading them. It's just like the picture of a donkey, dragging a cart, with its owner dangling a carrot just in front of the donkey's nose. The donkey's owner may be going where he wants to go, but the donkey is chasing an illusion. Tomorrow there will only be another carrot for the donkey.
-----------------------------------------------------------------------------------------------------------
Rule One. You must know the difference between an asset and a liability, and buy assets. If you want to be rich, this is all you need to know. It is Rule No. 1. It is the only rule. This may sound absurdly simple, but most people have no idea how profound this rule is. Most people struggle financially because they do not know the difference between an asset and a liability.
"Rich people acquire assets. The poor and middle class acquire liabilities, but they think they are assets"
"What is an asset?" asked Mike.
"Don't worry right now," said rich dad. "Just let the idea sink in. If you can comprehend the simplicity, your life will have a plan and be financially easy. It is simple; that is why the idea is missed."
"You mean all we need to know is what an asset is, acquire them and we'll be rich?" I asked.
Rich dad nodded his head. "It's that simple."
"If it's that simple, how come everyone is not rich?" I asked.
Rich dad smiled. "Because people do not know the difference between an asset and a liability."
An asset put money in the pocket. A liability throw money out of the pocket.
-------------------------------------------------------------------------------------------------------
As young boys, rich dad said, "What defines an asset is not words but numbers. And if you cannot read the numbers, you cannot tell an asset from a hole in the ground."
"In accounting," rich dad would say, "it's not the numbers, but what the numbers are telling you. It's just like words. It's not the words, but the story the words are telling you.
Many people read, but do not understand much. It's called reading comprehension. And we all have different abilities when it comes to reading comprehension.
For example, I recently bought a new VCR. It came with an instruction book that explained how to program the VCR. All I wanted to do was record my favorite TV show on Friday night. I nearly went crazy trying to read the manual. Nothing in my world is more complex than learning how to program my VCR. I could read the words, but I understood nothing. I get an "A" for recognizing the words. I get an "F" for comprehension. And so it is with financial statements for most people.
"If you want to be rich, you've got to read and understand numbers." If I heard that once, I heard it a thousand times from my rich dad. And I also heard, "The rich acquire assets and the poor and middle class acquire liabilities."
-----------------------------------------------------------------------------------------
As a child, my dad often told us that the Japanese were aware of three powers; "The power of the sword, the jewel and the mirror."
The sword symbolizes the power of weapons. America has spent trillions of dollars on weapons and, because of this,they are the supreme military presence in the world.
The jewel symbolizes the power of money. There is some degree of truth to the saying, "Remember the golden rule. He who has the gold makes the rules."
The mirror symbolizes the power of self-knowledge. This self-knowledge, according to Japanese legend, was the most treasured of the three.
The poor and middle class all too often allow the power of money to control them. By simply getting up and working harder, failing to ask themselves if what they do makes sense, they shoot themselves in the foot as they leave for work every morning.
By not fully understanding money, the vast majority of people allow the awesome power of money to control them. The power of money is used against them.
That is why my educated dad said the Japanese valued the power of the mirror the most, for it is only when we as humans look into the mirror do we find truth about ourselves.
