Rich Dad's Guide to Investing - Deepstash

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Three E's

Three E's

A sophisticated investor knows three E's.

  • Education
  • Experience
  • Excess cash

A movie star can have excess cash but lack the first two. There are many people with right education, but they lack experience and without real life experience, they often lack the excess cash.

Achieve those three items and you will a sophisticated investor.

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RICH DAD

"The only reason I built businesses was so l could invest in the investments of the rich.

The only reason you build a business is so that your business can buy your assets.

Without my businesses, I could not afford to invest in the investments of the rich."

RICH DAD

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Money will be anything you want it to be

Money will be anything you want it to be

If a person says, “Money is hard to get,” it will probably be hard to get. If a person says, “Oh, I’ll never be rich,” or “It’s really hard to get rich,” it will probably be true for that person. If a person says, “The only way to get rich is to work hard,” then that person will probably work hard. If the person says, “If I had a lot of money, I would put it in the bank because I wouldn’t know what to do with it,” then it will probably happen just that way.

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The Choice

The Choice

When it comes to money and investing, people have three fundamental reasons or choices for investing-to be:

  1. Secure,
  2. Comfortable, or
  3. Rich

All three choices are important. The difference in one's life occurs when the choices are prioritised.

Most people dream of becoming rich, but it is not their first choice. Their first choice when it comes to money decisions is security. Second is comfort and third is to be rich. That is why most people make job security, their highest priority. After they have a secure job or profession, then they focus on comfort. The last choice for most people is to be rich.

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Two kinds of Money Problems

Two kinds of Money Problems

One problem is not enough money. The other problem is too much money. Which type of money problem do you want?

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Causes of Scarcity & It’s Effect on people’s Attitudes

Causes of Scarcity & It’s Effect on people’s Attitudes

  • The more security you need, the more scarcity is in your life.
  • The more competitive you are the more scarcity, there is in your life. That’s why people compete for jobs and promotions at work and compete for grades in school.
  • People are creative cooperative and have a good financial and business skills often have lives of increasing financial abundance.

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Why Investing is Confusing

Why Investing is Confusing

  1. Investing means different things to different people.
  2. One person cannot know all there is to know about the subject of investing.
  3. One person may say an investment is good and another person may say the same investment is bad, and that both could have valid points.
  4. Not willing to keep an open mind to the subject of investing and listen to different points of you on this subject.
  5. Focusing on specific products and procedures may not necessarily be investing.
  6. An investment product that is good for one person may not be good for another.

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RICH DAD

Investing is a plan, not a product or procedure

RICH DAD

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IDEAS CURATED BY

CURATOR'S NOTE

The rich don't work for money. They know how to have money work for them.

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