Saturday, January 12, 2008

Why We Want You To Be Rich: Two Men - One Message



Here are 3 powerful questions you can ask yourself in anything that you want to accomplish in life.

1. Why must I become a [...]
2. How do I become a [...]
3. What if I am a [...]

For example, why must I become a good salesperson? or a good staff? or a successful entrepreneur? How do I become a good salesperson? or a good staff? or a successful entrepreneur? What if I am a good salesperson? or a good staff? or a successful entrepreneur? The questions must be asked and answered in the exact order.

If you already know why you are going to become or do something, you will find the 'how' to do it. And the last question should be answered by describing what you'll be experiencing when you have achieved what you want, using all your senses. For example, if you want to be rich, you will see your big bungalow with nice gardens, the cascading mini waterfall looks inviting and energizing... as you enter through the main door, the smell of aromatherapy and relaxing ambiance soothes away your tiredness and stress of the day. You get the idea I hope :) This last question strengthens your resolve to carry out your action plan to achieve your goals.

Why We Want You to be Rich: Two Men - One Message, written by two powerful men in their own right, talked about Question 1. The most powerful question without which, you will not have to answer Question 2 and 3. So why SHOULD you become rich? You probably know the answer already but to hear them from 'somebody' would probably give a better impact on you.

The big idea of the book is about the shrinking middle class and the rich gets richer while the poor gets poorer. Financial education is the key to overcome this problem. Some points about why you SHOULD become rich are worth mentioning because they are relevant everywhere:-

* Baby boomers without money - can you survive with just EPF after retirement? Some thought they can retire rich and spend $5,000 per month when they don't have even have $100,000 in their account yet. at $5,000 per month, they'll only be wealthy for 20 months and that is less than 2 years.

* Entitlement mentality - the notion that government should subsidy this and that; some youth has this idea that parents or older siblings should give them car and money and they don't have to work; it's everywhere.

* Higher oil prices - it is not going to come down and a lot of industries and livelihood will be affected.

Some lessons I want to remember below.

* Three kinds of investors
1. People who do not invest at all
2. People who invest not to lose
3. People who invest to win

90/10 rule of money: 10 percent of players win 90 percent of the money.

* Choose your battlefield. Which quadrant you want to be in. Recall Kiyosaki's Cashflow Quadrant :-
Employee,
Self-employed / Small business owner / Specialist,
Big Business Owner,
Investor.

* FOCUS = Follow One Course Until Successful

* 2 things you invest in:-
1. Passive Investor: invests no time, invests no money - no financial education
2. Active investor: invests time, invests money - lots of financial education

* Cone of learning

* Rich is measured in money; wealth is measured in time. For example, you are rich if you have $1 million in your account but if you spent $100,000 per month, your wealth is only for 10 months.

* THOUGHTS -----> ACTIONs -----> RESULTS

* Powerful Environments
1. Is your home and family life an environment that develops your financial genius?
2. Is your workplace an environment that encourages the development of your financial genius?
3. Do you have any idea where your genius might be?
4. Are you working with people who want you to develop your genius?
If you found your environment, would you be willing to work hard to develop your genius?

I'm quite disappointed Trump's part of the book is more like an addition or commentary to whatever Kiyosaki had written instead of two equal part. However, the book did have some useful lessons to those who wants to be rich, even to those who just wants to improve their financial situation. It can motivate you and put you back on track of achieving your monetary goals. The book can also become like a revision to those who have bought Kiyosaki's previous books. Of course you can just re-read his previous books and become equally motivated but I'm not going to recommend whether you should or shouldn't buy. 5 people can read the same book and have 5 different opinions.


The video of the two men talking about the reason they wrote a book together.

Go to www.WhyWeWantYouToBeRich.com for more information.

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