<ul><li class="ql-align-justify">Acceptance of capitalism's benefits, despite its flaws, is key to financial growth. </li><li class="ql-align-justify">Respecting money as a tool without becoming emotionally tied to it ensures that you use it wisely. </li><li class="ql-align-justify">Seeking alternative education sources, such as learning from real-world entrepreneurs, provides practical financial knowledge that traditional schools often miss. </li><li class="ql-align-justify">Traveling also broadens perspectives, helping you evaluate different economic systems and make smarter financial choices, ensuring your freedom and security in various financial ventures.</li></ul>

1. Acceptance: The First Step to Financial Freedom

<ul><li class="ql-align-justify">Understanding assets and liabilities is crucial. Owning a home with a mortgage may seem like an asset, but it is often a liability until paid off (the bank owns it until it is paid off; you are an income generating machine for the bank).</li><li class="ql-align-justify">Renting can offer more financial flexibility, freeing up money for higher-yield investments (REITs).</li><li class="ql-align-justify">Building your own investment portfolio, rather than relying on traditional pensions, ensures better returns and long-term security.</li><li class="ql-align-justify">Taking control of these aspects allows for greater financial autonomy and growth.</li></ul>

Self-Determination: Taking Control of Your Finances

<ul><li class="ql-align-justify">Valuing your time is essential to achieving financial freedom. </li><li class="ql-align-justify">Time, unlike money, cannot be replaced, so using it wisely matters. </li><li class="ql-align-justify">Avoid low-value activities, such as excessive smartphone use, which can drain your productivity and waste precious hours. (check my profile for an article about ""</li><li class="ql-align-justify">By focusing on meaningful tasks and optimizing how you spend your time, you can unlock greater financial potential and lead a more purposeful life.</li></ul>

Freedom: The Ultimate Financial Asset

<ul><li class="ql-align-justify">Risk is subjective and varies by situation. What might seem like a high risk to one person may be minimal to another with higher liquidity or income.</li><li class="ql-align-justify">Liquidity, or buying power, enables you to take calculated risks, making it easier to seize opportunities.</li><li class="ql-align-justify">By maintaining accessible cash reserves, you can better manage financial risks and take advantage of strategic investments that enhance your financial growth.</li></ul>

Risk IQ: Understanding and Managing Financial Risks

<ul><li class="ql-align-justify">Mainstream media often promotes misleading financial ideas for profit, so it's crucial to seek unbiased, data-driven sources.</li><li class="ql-align-justify">Choose role models who demonstrate financial wisdom and long-term success rather than celebrities whose wealth may not be sustainable. </li><li class="ql-align-justify">Following individuals with genuine liquid wealth (1m+ in cash) and practical advice can guide you on your path to financial success, ensuring you're learning from those with proven expertise.</li></ul>

Hierarchy: Seeking Proper Role Models and Information

Anton Kreil - ex Goldman Sachs trader explains 5 principles behind 10 Secrets to Achieve Financial Success

JOIN THE 2024 ITPM END OF YEAR ONLINE CONFERENCE 
GET MASSIVE DISCOUNTS ON ITPM ONLINE PROGRAMS CLICK HERE;-
https://issuu.com/instituteoftrading/docs/itpm-end-of-year-conference-2024-discount-program

EDUCATION http://www.itpm.com/education/ 
MENTORING http://www.itpm.com/trader-mentoring/ 
SEMINARS http://www.itpm.com/seminars/ 

In June 2015, Anton Kreil was interviewed whilst on a three-week business trip in Singapore, New York and London. Anton's answers to multiple questions about money, obtaining financial success and wealth were adapted into a Documentary titled "10 Secrets to Achieve Financial Success." In this Seminar three years later, Anton reveals... THE 5 PRINCIPLES BEHIND THE 10 SECRETS

Discover the world of business and economics.

economics

Economics

career

Career

moneyandinvestments

Money & Investments

business

Business

videos

Videos

The Institute of Trading and Portfolio Management was set up in 2011 to educate, coach and mentor Retail Traders into becoming long term consistently profitable. We provide our students Trading Education and Mentorship that is created and delivered by people who have either been genuine Professional Traders in the past or are current registered Professional Traders. All of our Mentors have either worked for Investment Banks or Hedge Funds in the past or present as Professional (registered and regulated) Traders. We are the only people in the World that do this and there are many challenges in taking this approach in our industry. We are hated and sometimes derided online by "Trading Guru's" because our content shows them up for what they are i.e. Imposters / Charlatans pretending to be Traders. The unfortunate truth is that you can only change an industry from the inside. We are disrupting everything we can and always constantly striving to change the industry for the better. Join us.

InstituteofTrading

The 5 Principles Behind the 10 Secrets

"Rich Dad, Poor Dad" is a concept that highlights the differences in mindset and financial philosophy between two father figures. The term refers to a situation where an individual has two father figures with different approaches to money and wealth-building. The "rich dad" is typically someone who has achieved financial freedom and has a mindset focused on asset-building, investing, and entrepreneurship. The "poor dad," on the other hand, may be someone who has a more traditional view of money and focuses on job security and the pursuit of higher education.

What this Concept is?

It is often used to illustrate the importance of financial education and the need to develop a mindset that focuses on building assets and generating passive income. It emphasizes that traditional education does not necessarily lead to financial intelligence/success and encourages individuals to seek knowledge & practical experience.It also highlights the importance of taking control of one's finances and not relying on others. It encourages individuals to think like entrepreneurs & view money not just as a means of survival but as a tool for creating wealth and positively impacting the world.

Continued...

The Lessons are a series of teachings related to personal finance and wealth-building that emphasize the importance of developing a strong financial mindset and taking control of one's financial future. The Lessons are designed to challenge traditional beliefs and assumptions about money and to provide practical advice and strategies for building wealth.

The 4 Lessons to Learn

One of the key lessons is the importance of financial education. The Lessons stress the need to develop a deep understanding of financial concepts and to seek out knowledge and expertise in the areas of accounting, investing, and entrepreneurship. This knowledge is critical for making informed financial decisions and for creating a solid foundation for long-term wealth-building.

1. Importance of Financial Education

Another important lesson is the difference between assets and liabilities. The Lessons emphasize the need to focus on building assets that generate passive income and to minimize liabilities that drain financial resources. This means investing in things like real estate, stocks, and businesses that have the potential to generate income over time, while avoiding debt and unnecessary expenses that can limit financial growth.

2. Knowledge of Assets/Liabilities

The Lessons also emphasize the importance of taking calculated risks and using leverage to achieve financial goals. This means being willing to invest in new ventures, taking calculated risks with investments, and using debt to finance assets that have the potential to generate income over time.

3. Calculated Risks

The Lessons stress the importance of developing a strong work ethic and a positive mindset. This means being disciplined, focused, and persistent in pursuing financial goals and maintaining a mindset that is focused on abundance, rather than scarcity.

4. Discipline

"Financial independence is the ability to live from the income of your own personal resources."

Becoming financially literate means acquiring the knowledge and skills necessary to manage personal finances effectively. It involves understanding financial concepts such as budgeting, investing, debt management, and risk assessment. Financial literacy is essential for making informed financial decisions and achieving long-term financial security.Here are the 5 key aspects of it-

5 Ways of Becoming Financially Literate

One of the key steps to becoming financially literate is to educate oneself. This can be done by reading books, attending financial seminars or webinars, watching educational videos, and seeking advice from financial experts. By learning about different financial products, such as savings accounts, stocks, bonds, mutual funds, and real estate, individuals can make informed decisions about how to allocate their resources.

1. Self-Education

Another important aspect of financial literacy is budgeting. This involves creating a budget that tracks income and expenses, and allows individuals to allocate funds according to their priorities. Budgeting helps to prevent overspending and ensures that financial resources are used in a way that aligns with personal goals.

2. Learn to Budget

Investing is also a key aspect of financial literacy. This involves putting money into assets that have the potential to grow in value over time, such as stocks, real estate, or mutual funds. Understanding the risks and potential returns of different investment options is crucial for making informed investment decisions.

3. Investment

Debt management is another important component of financial literacy. This involves understanding different types of debt, such as credit card debt or student loans, and developing a plan to pay off debt efficiently. This may involve consolidating debt, negotiating with creditors, or seeking professional advice.

4. Debt Management

Finally, becoming financially literate requires a positive mindset and a commitment to ongoing learning. It means being open to new ideas, taking calculated risks, and staying focused on long-term financial goals. By developing a mindset that prioritizes financial security and wealth-building, individuals can achieve financial independence and create a better future for themselves and their families.

5. Lifelong Learning

The Ten Rules of Money are a set of guidelines for managing personal finances and building long-term wealth. These rules provide practical advice for individuals who want to achieve financial security and independence.

Robert's 10 Rules of Money

One of the key rules is to make money work for you. This involves investing in assets that have the potential to generate passive income, such as stocks, bonds, or rental properties. By making smart investment decisions, individuals can create a steady stream of income that can support their financial goals.

1. Let Your Money Work for You

Another important rule is to control expenses. This means being mindful of spending and avoiding unnecessary or wasteful purchases. By focusing on needs over wants and maintaining a frugal lifestyle, individuals can save money and allocate resources more effectively.

2. Control Your Expenses

The third rule is to make a plan. This means setting clear financial goals and developing a roadmap for achieving them. By creating a budget, setting aside funds for emergencies, and prioritizing long-term investments, individuals can ensure that their financial resources are used in a way that aligns with their personal goals.

3. Plan Your Resources

The fourth rule is to protect assets. This means taking steps to safeguard financial resources from risk and uncertainty, such as purchasing insurance or diversifying investments. By mitigating risk and protecting against potential losses, individuals can maintain financial stability and security.

4. Protect your Assets

Another important rule is to focus on increasing income. This may involve developing new skills, pursuing additional education or training, or starting a business. By increasing income, individuals can create new opportunities for financial growth and security.

5. Increase Income Gradually

The sixth rule is to avoid debt. This means minimizing borrowing and paying off existing debt as quickly as possible. By avoiding high-interest debt and maintaining a strong credit score, individuals can maintain financial flexibility and avoid unnecessary costs.

6. Avoid DEBT

The seventh rule is to understand taxes. This means taking the time to learn about tax laws and regulations and finding ways to minimize tax liabilities. By understanding how taxes impact personal finances, individuals can make informed decisions about investments, income, and deductions.

7. Understand The TAX System

The eighth rule is to diversify investments. This means spreading investments across different asset classes and sectors to minimize risk and maximize potential returns. By diversifying investments, individuals can ensure that their financial resources are not concentrated in one area and are better protected against market fluctuations.

8. Diversify Your Investments

The ninth rule is to stay disciplined. This means maintaining focus on long-term goals and avoiding impulsive or emotional decisions. By staying disciplined and maintaining a clear financial plan, individuals can achieve financial success and avoid common pitfalls.

9. Stay Disciplined

The final rule is to give back. This means using financial resources to make a positive impact in the world and to support causes and organizations that align with personal values. By giving back, individuals can create a sense of purpose and fulfillment, while also making a positive impact on society.

10. Give Something Back to the World

"The first step towards financial independence is to realize that you can achieve it. The second step is to understand what it takes to achieve it. And the third step is to take action."

More Takeaways from the Book

Becoming financially literate means understanding financial concepts and products, such as investing, budgeting, and debt management. By educating oneself and developing financial knowledge, individuals can make informed decisions and achieve long-term financial success.

1. The Importance of Financial Literacy

Building wealth requires a positive mindset and a commitment to long-term goals. By developing a growth mindset and focusing on opportunities rather than obstacles, individuals can overcome challenges and achieve success.

2. The Power of Mindset

Starting a business can be a powerful tool for creating wealth and achieving financial independence. By pursuing entrepreneurial opportunities and taking calculated risks, individuals can create new income streams and build long-term wealth.

3. The Value of Entrepreneurship

Investing in assets that have the potential to grow in value over time, such as stocks or real estate, is a key component of building wealth. By making smart investment decisions and staying disciplined, individuals can create a diversified portfolio that generates passive income and supports long-term financial goals.

4. The Importance of Investing

High-interest debt, such as credit card debt or student loans, can be a major obstacle to building wealth. By avoiding unnecessary borrowing and paying off existing debt as quickly as possible, individuals can maintain financial flexibility and avoid unnecessary costs.

5. The Dangers of Debt

Developing a clear financial plan that aligns with personal goals is essential for achieving financial success. By creating a budget, setting aside funds for emergencies, and prioritizing long-term investments, individuals can ensure that their financial resources are used in a way that supports their personal goals.

6. The Role of Financial Planning

Building wealth requires action, not just knowledge. By taking proactive steps towards financial goals, such as investing in assets or starting a business, individuals can create new opportunities for financial growth and independence.

7. The Importance of Taking Action

Assets are investments that generate income, while liabilities are debts or expenses that drain resources. To build wealth, it's important to focus on acquiring assets and reducing liabilities.

8. Assets vs Liabilities

Managing cash flow effectively means ensuring that more money is coming in than going out. By creating a budget, tracking expenses, and identifying opportunities to increase income or reduce expenses, individuals can maintain positive cash flow and build wealth over time.

9. Cash Flow Management

Investing in real estate can provide a reliable source of passive income and help build long-term wealth. By investing in rental properties or flipping homes, individuals can generate cash flow and build equity over time.

10. The Benefits of Real-estate Investing

Education is key to achieving financial success. By pursuing formal education, attending seminars or workshops, or seeking out mentorship and guidance, individuals can develop the skills and knowledge necessary to build wealth and achieve financial independence.

11. Role of Education in Financial Success

Building wealth requires taking calculated risks and being willing to step outside of one's comfort zone. By taking risks and pursuing opportunities that have the potential for high rewards, individuals can create new sources of income and build long-term wealth.

12. Importance of Taking Calculated Risks

Relying on a single source of income, such as a job, can be risky and limit one's earning potential. By creating multiple income streams, such as starting a side business or investing in rental properties, individuals can diversify their income and build wealth more quickly.

13. The Value of Creating Multiple Income Streams

Setting clear, realistic goals is essential for achieving financial success. By breaking down long-term goals into smaller, achievable milestones, individuals can track their progress and stay motivated over time.

14. Why to Set Realistic Goals

Seeking advice and guidance from experienced mentors or financial advisors can provide valuable insights and support for achieving financial success. By learning from others and leveraging their expertise, individuals can make more informed decisions and achieve their goals more quickly.

15. Role of Mentors/Advisors

Building wealth isn't just about accumulating money; it's also about creating a better future for oneself and others. By giving back to one's community or supporting charitable causes, individuals can create a positive impact and contribute to a better world.

16. Benefits of Giving Back

A positive attitude can help individuals overcome challenges, stay motivated, and achieve their goals. By focusing on opportunities rather than setbacks, individuals can cultivate a resilient mindset that supports long-term success.

17. Maintain a Positive Attitude

Networking with others can help individuals find new opportunities, gain valuable insights, and build relationships that support their personal and professional goals. By expanding their network and building meaningful connections, individuals can open up new avenues for financial success.

18. Benefits of Networking

Building wealth requires patience and discipline, as success often comes through consistent, long-term effort. By staying disciplined and focused on one's goals, individuals can achieve financial independence and create a better future for themselves and their families.

19. Role of Patience & Discipline

The world of finance and investing is constantly evolving, and it's important to stay up-to-date on the latest trends and strategies. By committing to continuous learning and staying informed about new opportunities and risks, individuals can make more informed decisions and stay ahead of the curve.

20. The Importance of Continuous learning

"Rich Dad Poor Dad" is a personal finance book written by Robert Kiyosaki that challenges traditional beliefs about money and investing. The author draws on his experiences growing up with two father figures, one of whom was financially successful, and the other who was not. He teaches readers about the importance of financial education, asset-building, and the differences between assets and liabilities. Kiyosaki shares practical lessons and advice on managing debt, building wealth, and developing financial intelligence.

Although we have been successful in our careers, they have not turned out quite as we expected. We both have changed positions several times-for all the right reasons-but there are no pension plans vesting on our behalf. Our retirement funds are growing only through our individual contributions. Michael and I have a wonderful marriage with three great children. As I write this, two are in college and one is just beginning high school. We have spent a fortune making sure our children have received the best education available. One day in 1996, one of my children came home disillusioned with school. He was bored and tired of studying. “Why should I put time into studying subjects I will never use in real life?” he protested. Without thinking, I responded, “Because if you don't get good grades, you won't get into college.” “Regardless of whether I go to college,” he replied, “I'm going to be rich.”

personaldevelopment

Personal Development

books

Books

Kiyosaki is best known for his book Rich Dad, Poor Dad, the #1 New York Times bestseller. Kiyosaki followed with Rich Dad's CASHFLOW Quadrant and Rich Dad's Guide to Investing.

Robert T. Kiyosaki

Rich Dad, Poor Dad

Our society is moving quickly and it's easy to get distracted by money and material possessions. As Muslims, we must remember our faith's teachings and strive for a healthy balance between wealth and purpose. This article explores the Islamic principles that guide our approach to financial well-being, so we can live a balanced life.

Striking a Balance between Faith and Finances

Drawing inspiration from the research paper titled "Psychology of Wealth: An Islamic Perspective on Personal Finance," published by the Yaqeen Institute for Islamic Research, we will delve deeper into Islamic perspectives on personal finance.

As human beings, we were designed to have an exceptional love for wealth. Allah informs us of this in the Qur’an, and the Prophet (PBUH) warns of the responsibilities of having an abundance of wealth and misusing it. In Islam, we believe in rizq, which is sustenance provided by Allah. This rizq is both a means for us to provide for ourselves and our families and also a test from Allah that can either bring us closer to Him or lead us astray.

Understanding wealth from an Islamic perspective

Muslims should view their wealth through the lens of Islamic teachings, focusing on benefiting others and spiritual growth. This encourages gratitude and humility, recognizing that all wealth belongs to Allah.It is important to have a balanced approach to wealth, avoiding being consumed by the need for material possessions. Ultimately, Allah provides for us and earning for the hereafter leads to contentment.

The Islamic View on Wealth

As Muslims, we strive to live our lives according to Islamic principles. This extends to our earning and spending habits. It is vital that what we earn and spend is permissible within the bounds of Islam. We are instructed to avoid haram sources of income, such as interest, gambling, and illicit trade. Instead, we are taught to engage in ethical and responsible consumption.

The Importance of Halal Earnings and Ethical Spending

Charity is important in the Islamic economic system, seen as a compulsory act of zakat, which is one out of five pillars. Not only does the receiver benefit, but also the giver. Giving with the right intention fosters empathy, compassion, and gratitude.
Muslims are encouraged to give sadaqah, in addition to zakat, with the understanding that it purifies and increases wealth. This act can also protect from negative consequences of wealth, like arrogance and materialism.

The Role of Charity

As Muslims, it is essential to invest our wealth in productive and sharia-compliant ways. Let's learn why investing is crucial, especially in today's world.
<ul>
 <li>Investing is buying assets that increase in value, not letting money sit in a bank account.</li>
 <li>Leaving money unused can cause its value to decrease over time due to inflation and zakat, resulting in a net loss of wealth.</li>
 <li>Sharia-compliant investing is encouraged as it aligns with Islamic beliefs and values.</li>
 <li>We should put our money to use and aim to at least maintain our wealth.</li>
</ul>

The Importance of Investing for Muslims

Islam emphasizes putting our wealth in halal investments to safeguard it. By increasing our wealth, we can better provide for our families and communities and donate more to charity, ultimately leading to investing for our akhirah (afterlife).

Halal Investments in Islam

Barakah, also known as divine blessings, is at the core of Islamic finance. It has the power to increase the productivity, efficiency, and value of our wealth.
To attract barakah into our financial lives, it is important for us, as Muslims, to seek out halal sources of income and spend our money wisely. By doing so, we can experience a more satisfying, fulfilling, and successful financial journey.

The Importance of Barakah in Islamic Finance

Barakah refers not only to the quantity of wealth but also to the quality and influence of that wealth. Barakah can appear in many forms, such as meeting one's needs with a modest income, being content with one's possessions, or seeing one's wealth positively affect others. The key to attracting barakah is to follow Islamic principles in all aspects of financial life, from income to spending and everything in between.

A scarcity mindset and poverty can affect a person's perspective on wealth, causing them to believe that there is not enough for everyone. This leads to a diminished financial well-being and poor financial decisions. The Qur’an describes scarcity and abundance as opposing sources that lead to immoral or moral financial behavior, respectively.

Abundance over scarcity

The Prophet (PBUH) advised making downward social comparisons to feel blessed and grateful for one's blessings and avoid the scarcity mindset that leads to stinginess. As Muslims, we are warned against looking to the wealthy as a reference point and reminded that their wealth is a test from Allah that should not be desired.

Islamic teachings on personal finance offer a comprehensive and balanced approach to wealth management that promotes both material success and spiritual growth. We are taught to understand wealth from an Islamic perspective, focus on halal income and ethical spending, prioritize philanthropy, pursue barakah, and balance material and spiritual aspirations. Wealth and healthy relationships can be built on faith.

Conclusion

religionandspirituality

Religion & Spirituality

motivationandinspiration

Motivation & Inspiration

6 Islamic Principles for Achieving Financial Wellbeing

If a man is proud of his wealth, he should not be praised until it is known how he employs it.

Becky Ripley and Sophie Ward take a cold hard look at the psychology behind each of the seven deadly sins, in the order established by Pope Gregory the Great: pride, greed, lust, envy, gluttony, wrath, and lazy old sloth. Why have we evolved these ugly emotions? What’s going on in the brain and the body when we feel them? And how best can we live alongside them - in ourselves and with others?Greed is in the spotlight today. And we're not talking food. (That’s gluttony, we come to that later in the series.) We're talking greed for money, for land, for material things – and ultimately for control, status, dominance, power. The kind of greed that separates the "haves" from the "have nots". On one hand, greed is a great motivator, driving us all forward in our pursuit to get more of whatever it is we want. But at its ugliest, greed can come at a huge cost to other people, and to the planet. When does self-interested behaviour become selfish? And can we be greedy for the good? To guide us through this mess is evolutionary anthropologist Dr Anna Machin from the Department of Experimental Psychology at the University of Oxford, psychologist and social scientist Professor Paul Piff from the Department of Psychological Science at the University of California, Executive Director of the New Economy Organisers Network, Ayeisha Thomas-Smith, and a few wise words from Sir David Attenborough.Producer: Becky Ripley

philosophy

Philosophy

podcasts

Podcasts

Seriously is home to the world’s best audio documentaries and podcast recommendations. Introduced by Vanessa Kisuule. This feed is no longer being updated. Thanks for listening.

Seriously...

Seven Deadly Psychologies - 2. Greed

Poor Dad values traditional education, job security, and working for a steady paycheck. In contrast, Rich Dad focuses on financial education, entrepreneurship, and building wealth through assets, rather than relying on earned income.

1. Two Different Mindsets: Poor Dad vs. Rich Dad

"The poor and the middle-class work for money. The rich have money work for them."

Financial literacy is crucial for building wealth. It’s not about how much money you make but how well you manage it. Understanding how money works, how to invest, and how to build and protect wealth is essential.

2. The Importance of Financial Literacy

The key to financial success lies in understanding the difference between assets and liabilities. Assets generate income, while liabilities drain resources. Accumulating assets like investments and businesses helps grow wealth, while minimizing liabilities like debt is crucial

3. Assets vs. Liabilities

"An asset is something that puts money in my pocket. A liability is something that takes money out of my pocket"

Rather than trading time for money in a job, focus on acquiring income-generating assets that work for you. Passive income from investments or businesses is a pathway to financial independence

4. Make Money Work for You

"The rich don't work for money. They make money work for them."

Wealthy people create income streams through assets, not through labor. They focus on building businesses, real estate, or other investments that generate continuous cash flow, reducing dependence on a paycheck

5. The Rich Don’t Work for Money

"You must learn to harness the power of your mind and not be afraid of failing. Failure is part of the process of success."

Always focus on building your own assets, whether that’s through investing, starting a business, or other wealth-generating activities. Even if you have a job, create income streams on the side that will eventually replace your need to work for others.

6. Mind Your Own Business

"The rich focus on their asset columns while everyone else focuses on their income statements."

Corporations provide strategic tax advantages and protect personal assets. Forming a corporation allows you to reduce taxes, reinvest profits more effectively, and protect wealth legally.

7. The Power of Corporation

"The reality is that the rich are not taxed. It's the middle class who pays for the poor."

Financial success requires taking calculated risks. Those who avoid risk miss out on opportunities to grow wealth. Understanding and managing risk effectively is essential for capitalizing on financial opportunities.

8. The Role of Risk

"In today's fast-changing world, it's not the people who are 'rigid' that succeed, but the people who are 'flexible.'"

Fear of failure prevents many people from pursuing wealth-building opportunities. Embrace failure as a part of the learning process. Those who succeed are not afraid to make mistakes; instead, they learn and adapt from them.

9. Overcoming the Fear of Failure

"Winners are not afraid of losing. But losers are. Failure is part of the process of success."

Focus on acquiring valuable skills that can help you in building wealth, such as sales, investing, or business management. These skills are more important in the long run than the security of a paycheck, as they can open doors to greater financial opportunities.

10. Work to Learn, Not for Money

Financial success requires action. Education alone isn’t enough; you have to invest, take risks, and start building assets. Start with small steps, but take the necessary actions to begin your journey toward financial independence.

"The single most powerful asset we all have is our mind. If it is trained well, it can create enormous wealth."

The Art of War is governed by five factors:<ul><li class="ql-align-justify">The Moral Law - following your leader regardless of their life</li><li class="ql-align-justify">Heaven - night/day, cold/heat, times and seasons</li><li class="ql-align-justify">Earth - distances great/small, danger/security</li><li class="ql-align-justify">The Commander - wisdom, courage, strictness, benevolence</li><li class="ql-align-justify">Method and Discipline - marshaling of army in proper subdivisions, ranks among officers</li></ul>By considering these factors, you can forecast your victory.

Laying Plans

When you engage in actual fighting, if victory is long in coming, then men’s weapons will grow dull and their ardor will be damped. If you lay siege to a town, you will exhaust your strength.

Waging War

In the practical art of war, the best thing of all is to take the enemy’s country whole and intact; to shatter and destroy it is not so good.

Attack by Stratagem

The good fighters of old first put themselves beyond the possibility of defeat, and then waited for an opportunity of defeating the enemy.

Tactical dispositions

"There's not a dated maxim or vague prescription in it." — Newsweek Regarded as the world's oldest military treatise, this compact volume has instructed officers and tacticians for more than 2,000 years. From its origins in China, The Art of War traveled the world to inform the strategies of Napoleon and World War II generals. More recently, it has taken on a new life as a guide to competing successfully in business, law, and sports. All of The Art of War's concepts retain their value to modern readers, from the prudence of circumventing a strong opponent and taking advantage of a weak one to the wisdom of preparedness and flexibility. Other topics include strategy, tactics, maneuvering, communications, the treatment of soldiers, and the worth of well-trained officers. History enthusiasts, business thought leaders, and anyone intrigued by competition and rivalry will appreciate this elegant edition of the classic work.

The Art of War

Find 100+ Ideas and Facts about Money - Curated from interesting sources like Books, Podcasts & Articles - Genuine Insights from like-minded Users like You!

The 5 Principles Behind the 10 Secrets

Rich Dad, Poor Dad

6 Islamic Principles for Achieving Financial Wellbeing

Seven Deadly Psychologies - 2. Greed

Rich Dad, Poor Dad

The Art of War

The Psychology of Money

The Most Important Thing

Google (TC6)

Annual letter 2022 by Warren Buffet (Key points to remember)

It's time to
Read like a Pro.

The 5 Principles Behind the 10 Secrets

Rich Dad, Poor Dad

6 Islamic Principles for Achieving Financial Wellbeing

Seven Deadly Psychologies - 2. Greed

Rich Dad, Poor Dad

The Art of War

The Psychology of Money

The Most Important Thing

Google (TC6)

Annual letter 2022 by Warren Buffet (Key points to remember)

It's time to Read like a Pro.

It's time to
Read like a Pro.