Try not to become a man of success. Rather become a man of value.
Animated Video by Fight Mediocrity
Key Takeaways
You can’t get financial education in school, they only teach you to be poor.
After the industrial revolution, they built the school system to create workers, to listen, to be easily programmed. Those days are over, be your own boss and program yourself.
The school system will never teach you about money. The school system is designed to teach you how to be an employee, but never about money. What most people lack is real, business knowledge. Accounting, debt, taxes. You need to know this stuff.
You need to find real teachers over fake teachers. A fake teacher is someone that doesn’t do what they teach. A fake teacher is somebody who just wants a job and they’ll teach anything for money. A real teacher is doing what they teach everyday.
So when you say ‘I can’t afford it,’ the mind shuts down, you become what you say. Poor people make up reasons why they can’t have something, can’t afford it, don’t have time—because it’s an escape. It’s easy to say these things.
A question opens the mind. A statement closes the mind. How can I afford it? How can I do that? What would it take or why should I do that? We become creatures of our own habits, and until we break the habit, we don’t change.
The way you get rich is to solve other people’s problems.
Poverty is passed on. It’s taught in your families, and middle class is taught in families. If you don’t want to learn it, you can’t be helped. Poor dad never wanted to learn, rich dad wanted to teach you.
People who are afraid of making mistakes, as they teach in school, they don’t ever grow. Every time you fail, GOOD, what have you learned? Your greatest teacher is your last mistake.
You gotta learn the GAME. Find your game. Pick one of the 4 asset categories and start educating yourself (Businesses, Real estate, Paper assets, Commodities). Appreciation, Depreciation, Amortization.
McDonald’s Formula of Business This business of Mcdonalds is not burgers, the business of McDonalds is Real Estate. Make your money and instead of spending it on something stupid, you buy Real Estate, which off sets your taxes. Don’t fear debt. Instead, take on debt and use it to acquire assets.