Investing

Articles and Information about Investing

NetFinancial | Institutions | Loans
Colleges and Universities | Search Engines

The Differences Betweeen the Wealthy and Everyone Else


I recently received an e-mail from a young lady who had doubts about the principles of wealth found in "Rich Dad, Poor Dad". She mentioned a couple of past failed investments, and wanted to know what I thought about investing and financial freedom - whether it was just a myth, or whether it could be acquired. I thought I'd share it here for the benefit of those who have struggled with investing, or perhaps from ventures that didn't quite pan out. Here's what I wrote back to her:

"Dear ________,

I want to address your point below - because I think you make a very interesting point about money. I do believe that most people have a great opportunity to put Rich Dad's principles into practice to create wealth for themselves. You said "the rich get richer"...but remember, many who are rich did not start that way (many who have a large inheritance don't stay rich for long). In fact, they started very poor, with little to no money, and worked their way to freedom. HERE ARE THE DIFFERENCES between those who achieve financial freedom and those who don't:

1) They have different beliefs about money.
The person who becomes wealthy believes differently about money than the person who doesn't. Example: The wealthy BELIEVE that "money should work hard for you" while the poor and middle class BELIEVE that "you should work hard for your money". These are opposite beliefs - so, the rich keep FINDING WAYS to have money work for them, while the poor and middle class keep FINDING WAYS to work harder for money. See the difference in beliefs, that ultimately effects the person's behavior and their results? Another example: If I believe that every person is valuable, then what happens? I treat every person I meet with respect. What about the person who believes that a particular race - African-Americans, or Asians, or Hispanics, or Americans are INFERIOR to their own race, or "bad" - how will that person treat them? With disrespect, or hatred, or both. You see? What someone believes in his/her heart correlates with how they will behave.

2) Those who become financially free never, ever give up - even after failing numerous times.
You mentioned trying a few investments that didn't work out. Why didn't they work out? I'm sure the reason comes from this one simple reason: you did not have enough information to evaluate the investment. So, even if you say "The opportunity was a scam", or "My friend made me do it", or "It wasn't the right time to invest" - all these reasons come from the fact that you did not adequately EVALUATE THE INVESTMENT. Evaluating an investment includes understanding the risks, having a contingency plan, and getting expert help to best make your decision.

3) Those who become wealthy never stop learning.
If you mess up in an investment, it doesn't mean give up. It means you look at the mistake and figure out why it happened to make sure you don't get yourself in that situation again - when you do this, you become WISER. The poor and middle class try something, and when they fail, they either blame a person or circumstances AND THEY NEVER HAVE ANYTHING TO DO WITH THAT AGAIN. That's not good! Just because I mess up one real estate investment DOES NOT mean real estate is a bad investment!

I hope this helps - I'd like your opinions on what I've shared -

To your future.

Jim"

I'm still waiting to hear back from her - in the meantime, I hope this helps you.

(C) 2005 RadiusEnterprises.com. All Rights Reserved.

Jim Young is a published author, successful real estate investor, web developer, and internet marketer. He shows people how to actually generate substantial income on-line using very simple, easily modeled systems. An example of such a system that you can study and duplicate is at: http://www.RadiusEnterprises.com


MORE RESOURCES:
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://news.google.com/news/url?sa=Tct=us/0i-0fd=Rurl=http://www.canada.com/calgaryherald/news/story.html%3Fid%3D3b64e10c-6489-4f79-8281-2788b08d88a3cid=1267309364ei=9M0nSZvEEqDM8ASs3vkQusg=AFQjCNFUQads5_4SqoBhJ4VhgLHlyYNeQAimg src=http://news.google.com/news?imgefp=vmlpWUDo6T0Jimgurl=a123.g.akamai.net/f/123/12465/1d/media.canada.com/idl/cahr/20081121/183052-69330.jpg%3Fsize%3Dl width=80 height=80 alt= border=1brfont size=-2Calgary Herald/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/0-0fd=Rurl=http://news.morningstar.com/article/article.asp%3Fid%3D265991cid=1267309364ei=9M0nSZvEEqDM8ASs3vkQusg=AFQjCNGaYbM8YnXIKw7XmQQMzPv53EpVZgEnergy bInvesting/b in a Carbon-Conscious America/abrfont size=-1font color=#6f6f6fMorningstar.com,nbsp;ILnbsp;-/font nobr10 hours ago/nobr/fontbrfont size=-1Given that the 110th Congress produced six carbon cap-and-trade bills and that President-elect Barack Obama has so far stood by his campaign rhetoric b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/0-1fd=Rurl=http://www.msnbc.msn.com/id/27846093/cid=1267309364ei=9M0nSZvEEqDM8ASs3vkQusg=AFQjCNEIOZGmZCUm17YMJWEfZniVrycPjgclimate crusaders set to act in Congress/a font size=-1 color=#6f6f6fnobrMSNBC/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/0-2fd=Rurl=http://www.investors.com/editorial/editorialcontent.asp%3Fsecid%3D1501%26status%3Darticle%26id%3D312077804618599cid=1267309364ei=9M0nSZvEEqDM8ASs3vkQusg=AFQjCNHldv-qgiusbCtOd6Hvf6WylUU_vgThe Waxman Wane/a font size=-1 color=#6f6f6fnobrInvestor's Business Daily (subscription)/nobr/font/fontbrfont size=-1a href=http://news.google.com/news?btcid=678cb220808f1a4eimg src=/images/news_comment_bubble12.gif alt=google news comment class=comment-iconComment bynbsp;Frank O#39;Donnell/afont size=-1 color=#6f6f6fnbsp;President, Clean Air Watch/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1267309364hl=ennobrall 1,638 news articles/nobr/a/font/div/font/td/tr/table

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/1-0fd=Rurl=http://www.marketwatch.com/news/story/pepsico-investing-3-bln-mexico/story.aspx%3Fguid%3D%257B28FAF814-FC26-418F-B66B-00200A4A18F2%257D%26dist%3Dmsr_5cid=1272654437ei=9M0nSZvEEqDM8ASs3vkQusg=AFQjCNEPmg0XMtUi5HWb5JGImTB9PfyYdwPepsiCo binvesting/b $3 bln in Mexico over next 5 years/abrfont size=-1font color=#6f6f6fMarketWatchnbsp;-/font nobrNov 20, 2008/nobr/fontbrfont size=-1By Wallace Witkowski , , ) said Thursday it plans to spend up to $3 billion to build its brands in Mexico over the next 5 years. b.../b/font/div/font/td/tr/table

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/2-0fd=Rurl=http://www.valleynewstoday.com/site/news.cfm%3Fnewsid%3D20204101%26BRD%3D2703%26PAG%3D461%26dept_id%3D555139%26rfi%3D6cid=1273012914ei=9M0nSZvEEqDM8ASs3vkQusg=AFQjCNHAcsWvEkz3cv8woNw9VRbCvpKAOgON bINVESTING/b - Top ten tips for year-end tax strategies.../abrfont size=-1font color=#6f6f6fValley News Today,nbsp;IAnbsp;-/font nobr17 hours ago/nobr/fontbrfont size=-1Track binvestment/b expenses - Work with your advisor to keep a full accounting of deductible expenses associated with your binvestment/b portfolio. b.../b/font/div/font/td/tr/table

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://news.google.com/news/url?sa=Tct=us/3i-0fd=Rurl=http://news.bbc.co.uk/1/hi/world/asia-pacific/7740483.stmcid=1272456186ei=9M0nSZvEEqDM8ASs3vkQusg=AFQjCNHtVNRRfmfDqIHNsc0J8U1UUXy2_Qimg src=http://news.google.com/news?imgefp=-Bsy3LofshUJimgurl=newsimg.bbc.co.uk/media/images/45225000/jpg/_45225427_-2.jpg width=80 height=60 alt= border=1brfont size=-2BBC News/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/3-0fd=Rurl=http://www.forbes.com/reuters/feeds/reuters/2008/11/20/2008-11-20T235015Z_01_N20439587_RTRIDST_0_USA-CHINA-UPDATE-1.htmlcid=1272456186ei=9M0nSZvEEqDM8ASs3vkQusg=AFQjCNE5UY0eD5fm4TaucGw-sWfX1yY8NwUS panel urges action on China currency, binvesting/b/abrfont size=-1font color=#6f6f6fForbes,nbsp;NYnbsp;-/font nobrNov 20, 2008/nobr/fontbrfont size=-1By Doug Palmer WASHINGTON (Reuters) - Congress should pass legislation next year to pressure China to raise the value of its currency and require Beijing#39;s b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/3-1fd=Rurl=http://www.guardian.co.uk/technology/2008/nov/20/china-us-military-hackingcid=1272456186ei=9M0nSZvEEqDM8ASs3vkQusg=AFQjCNGLvVSgwZwif8dgeFSt8jxgFHSe3AChina winning cyber war, Congress warned/a font size=-1 color=#6f6f6fnobrguardian.co.uk/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1272456186hl=ennobrall 377 news articles/nobr/a/font/div/font/td/tr/table

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://news.google.com/news/url?sa=Tct=us/4i-0fd=Rurl=http://news.bbc.co.uk/2/hi/programmes/moneybox/7739796.stmcid=1273111246ei=9M0nSZvEEqDM8ASs3vkQusg=AFQjCNELD_CAk2u-qlN72zAQNYIDerLvgAimg src=http://news.google.com/news?imgefp=mdRA-zhhXbcJimgurl=newsimg.bbc.co.uk/media/images/45224000/jpg/_45224656_panel203.jpg width=80 height=60 alt= border=1brfont size=-2BBC News/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/4-0fd=Rurl=http://news.bbc.co.uk/2/hi/programmes/moneybox/7739796.stmcid=1273111246ei=9M0nSZvEEqDM8ASs3vkQusg=AFQjCNELD_CAk2u-qlN72zAQNYIDerLvgASaving and binvesting/b: Your questions/abrfont size=-1font color=#6f6f6fBBC News,nbsp;UKnbsp;-/font nobr5 hours ago/nobr/fontbrfont size=-1On Monday#39;s programme Vincent Duggleby will put your questions about saving and binvesting/b to a panel of experts. In these financially uncertain times, b.../b/font/div/font/td/tr/table

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://news.google.com/news/url?sa=Tct=us/5i-0fd=Rurl=http://www.cnbc.com/id/27842090cid=1272972738ei=9M0nSZvEEqDM8ASs3vkQusg=AFQjCNHoLIk4f8Az6F3W62Cq5lGczCedcAimg src=http://news.google.com/news?imgefp=AtyLZ43--IcJimgurl=media.cnbc.com/j/CNBC/Sections/News_And_Analysis/_Blogs/Warren_Buffett_Watch/_DAILY%2520POSTS/Graphics/081121_wbw_expression_confidence.standard.jpg width=80 height=60 alt= border=1brfont size=-2CNBC/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/5-0fd=Rurl=http://www.reportonbusiness.com/servlet/story/RTGAM.20081122.wrfairfax1122/BNStory/Business/homecid=1272972738ei=9M0nSZvEEqDM8ASs3vkQusg=AFQjCNHb20S3TUvuH4gZm95CmIXGlRlXuAWatsa teams up with his binvesting/b hero/abrfont size=-1font color=#6f6f6fReportonBusiness.com,nbsp;Canadanbsp;-/font nobr2 hours ago/nobr/fontbrfont size=-1“It is our first co-binvestment/b with Berkshire,” Fairfax spokesman Paul Rivett said. “We are extremely pleased to be binvesting/b in a leading industrial firm b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/5-1fd=Rurl=http://www.chicagotribune.com/business/chi-biz-usg-warren-buffett-nov21,0,2690835.storycid=1272972738ei=9M0nSZvEEqDM8ASs3vkQusg=AFQjCNFhHNyCxKvebQx8VZj5SRtpDTAyQABuffett firm invests in USG/a font size=-1 color=#6f6f6fnobrChicago Tribune/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/5-2fd=Rurl=http://www.chicagotribune.com/business/chi-sat-buffett-usg-nov22,0,6966591.storycid=1272972738ei=9M0nSZvEEqDM8ASs3vkQusg=AFQjCNHob_06ItVqVIAk3DawNpfld0XOGwBuffett deal bolsters USG/a font size=-1 color=#6f6f6fnobrChicago Tribune/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1272972738hl=ennobrall 61 news articles/nobr/a/font/div/font/td/tr/table

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/6-0fd=Rurl=http://www.pcworld.com/businesscenter/article/154368/sap_to_bring_unified_interface_across_apps_suite.htmlcid=1273060914ei=9M0nSZvEEqDM8ASs3vkQusg=AFQjCNHC4tJCovmPJ1UYEZq2lmH8g3wZRQSAP to Bring Unified Interface Across Apps Suite/abrfont size=-1font color=#6f6f6fPC Worldnbsp;-/font nobr7 hours ago/nobr/fontbrfont size=-1No, of course not,quot; said Andrew McAfee, a Harvard Business School professor and author of quot;bInvesting/b in the IT That Makes a Competitive Difference. b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/6-1fd=Rurl=http://www.streetinsider.com/Press%2BReleases/Expert%2BPanel:%2BWhy%2BInvesting%2Bin%2BIT%2BMakes%2BSense%2Bin%2BTroubled%2BTimes/4185849.htmlcid=1273060914ei=9M0nSZvEEqDM8ASs3vkQusg=AFQjCNFYn2VmaB8stFttuCjED64UM2tt8wExpert Panel: Why bInvesting/b in IT Makes Sense in Troubled Times/a font size=-1 color=#6f6f6fnobrStreetInsider.com (subscription)/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1273060914hl=ennobrall 11 news articles/nobr/a/font/div/font/td/tr/table

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/7-0fd=Rurl=http://www.forbes.com/intelligentinvesting/2008/11/21/intelligent-investing-panel-intstocks-small-banks.htmlcid=0ei=9M0nSZvEEqDM8ASs3vkQusg=AFQjCNHOK_k9HPi3UgvoFTnS0OjGXyvYIQWhat Is Long-Term bInvesting/b, Anyway?/abrfont size=-1font color=#6f6f6fForbes,nbsp;NYnbsp;-/font nobr9 hours ago/nobr/fontbrfont size=-1After that, a long binvestment/b horizon seems to mean two years or three or five or a decade--whatever will comfortably convince the investor to stay put long b.../b/font/div/font/td/tr/table

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/8-0fd=Rurl=http://www.marketwatch.com/news/story/Market-Vectors-Family-Municipal-Bond/story.aspx%3Fguid%3D%257BC55957FB-4ED9-4DBD-92DF-1A5E8953BE80%257Dcid=1272948096ei=9M0nSZvEEqDM8ASs3vkQusg=AFQjCNGQL81kTWo2w5eagTUw6t7lK_sufgMarket Vectors Family of Municipal Bond ETFs Announces Distributions/abrfont size=-1font color=#6f6f6fMarketWatchnbsp;-/font nobr17 hours ago/nobr/fontbrfont size=-1Please consider a Fund#39;s objectives, risks and charges and expenses, and read the prospectus carefully before binvesting/b. The prospectus contains this and b.../b/font/div/font/td/tr/table

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/9-0fd=Rurl=http://www.marketwatch.com/news/story/give-yourself-smooth-ride-down/story.aspx%3Fguid%3D%257BEFA03715-A6AF-4EEA-AA0B-C354825DBF97%257Dcid=1272719220ei=9M0nSZvEEqDM8ASs3vkQusg=AFQjCNH9fNmR-SizKi2wr8vYnVDSKfvnkgDon#39;t miss these top money and binvesting/b columns:/abrfont size=-1font color=#6f6f6fMarketWatchnbsp;-/font nobrNov 20, 2008/nobr/fontbrfont size=-1How different their experience might have been if the binvestment/b returns had been smoother and more predictable. A basic 50%-50% blend of US stocks and b.../b/font/div/font/td/tr/table

Investing - Google News

Currency Trading | Investing | Leadership | Negoatiation | Real Estate | Stocks and Mutual Funds | Taxes
home | NetFinancial | Institutions | Loans | Colleges and Universities | site map
Search Engines | EZmatic | 0pops | GetSonic | TrafficFish | Health
© 2006