You’ve heard it many times, the more you read the more things you will know, the more that you learn the more places you will go.
I don’t like reading, in fact I hate it. Back in high school when I was forced to read 2-3 books a year and have quizzes on them, I was never able to finish any of them. I fell asleep after 15mins of reading. I had to read the online resume/summary of each chapter to have a general view of what happened and guess the answers.
As I grow older and (hopefully)wiser, I realize it just wasn’t the right kind of lecture for me. There are multitudes of genres for books such as Romance, Sci-Fi, Adventure, etc… I actually don’t know but probably the same genres as you find in movies. Point is, I was just not introduced to the right ones for me. It’s been a few years that I started to read books on self-development and how to reach your goals and succeed in life. Of course everyone has a different view on what success really means but to me I like to define it as the point where you have reached goals you have previously set for and never gave up until accomplished.
Our generation is flushed with information, I think people should spend more time into learning what the masters have left behind. Let’s face it, even if you graduate with a university degree, you still don’t know shit. There’s a reason why lets say 80% are sheep/followers and only 20% achieve their goals, it’s freaking hard. I then embarked in a journey of self-discovery and started to watch a ton of videos of what success is and how people reached their goals. Turns out that most of them entrepreneurs will gladly tell you their stories and give you advice on things to do or should definitely avoid. Some are so successful, because their formula has been proven time over time again, that they end up writing books to help out the average Joe aspiring to reach this new found level of wealth.
Our generation is flushed with information. Ask Google, Google will find it. A few years ago, instead of reading books, I found out you can also listen to audiobooks. My life has changed. No longer do I have to sit and read and eventually fall asleep within minutes, now I can go to work by commute, do groceries, daily tasks and such while listening to pure knowledge from people who seem to have a proven system. Sure not all of them can be applied to your current situation but every once and then you will find certain parts of the books as gems and it will lead you to generate more ideas to your own success based on your instincts. I believe the ability to combine both approach is a deadly weapon. The greatest thing is that most of the books worthy of reading are available on YouTube. All you have to do is type “name of the book + audiobook” and chances are that you will find your book. Free knowledge.
If someone told you they can fast forward the whole process for you to reach your goals, would you seriously deny him? Even if it was free? We have two ears and one mouth so we can listen twice as much as we speak. Take the information, accumulate the information, connect the dots, self-development, bingo.
So where do we start? I think understanding the different mentality between the poor minded and the rich minded individuals is the first step to see how the rich actually get wealthier while the poor always end up in this deadly circle. One of the best book that made me understand this is Rich Dad, Poor Dad by Robert Kiyosaki. He basically tells the story of how he grew up with a rich friend when he was kid and ask the kid’s rich father how he became rich and do nothing while everyone else is working really hard but still cannot afford the freedom he does. Because he narrates it as a kid’s perspective and then progresses to his adult age, it is simplistic yet very logical and you can see the evolution in his mindset. The hardest part is to be able to allow yourself to shift mindset and get out of the rat race by understanding what financial literacy actually means throughout a lifetime. I have personally listened to it 4x and this book still amazes me.
This book really emphasizes on knowing how to differentiate Assets from Liabilities and understanding how money management, if applied correctly, can change your life.
The poor doesn’t understand whats an Asset or Liability so they basically have stupid expenses and have no clue about the mechanics behind.
The middle class confuses Liabilities with Assets and end up playing bingo, waiting for a potential but logical lucky strike.
The upper class learns about cashflow between Assets and Liabilities and understands the mechanics behind the taxing system.
This book is not a bible or the ultimate guide to wealth. Probably 30% if not more is fictional or made up stories but the stories helps you clearly visualize different aspects of money thus helping you generate ideas for your own benefit.
How do you know which one is an Asset or a Liability? Watch the video at the end of this post!
Another great week for my EA. Serious gains, drawdown was kept under 10%, really can’t complain.
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