Rich Dad, Poor Dad
I've been getting a LOT of financial education over the last month or so, and I want to pass all this on to my readers!
I'm not a big reader and certainly prefer "How-To" manuals over fiction for my digest of print media. However, I'm also a big believer in repetition as a means of learning, as well as the power of our subconsciousness. This has lead me to prefer audio books which I can listen to again and again, even during sleep, and this is what I've been doing for the last month.
I started with Robert Kiyosaki's book "Rich Dad, Poor Dad", and found it a great inspiration, with some great general ideas for getting my finanical life more in order. It did lack some critical detail, but I was hungry for more, and so went searching for my next few financial lessions.
Over the next few weeks I was turned on to other audio books like Napoleon Hill's book "Think and Grow Rich", which gave more great nuggets of information and clarification, as well as a good dose more of "cheerleading". Some concepts in this book also helped reenforce by growing belief in the power of our thoughts determining our reality. I would highly recommend this book along with movies such as "The Secret" and "What the Bleep Do We Know", and other resources on Quantum Physics (for those truely interested).
I ended up listening to many more of Kiyosaki's audio books, such as "Cashflow Quadrant", "Rich Dad's Guide To Investing", "Rich Kid, Smart Kid", and "Retire Young, Retire Rich". During all this learning and researching, I came across a few websites presenting some negative Kiyosaki viewpoints. I suppose on some level there were a few valid points... perhaps Kiyosaki does more generalized cheerleading than giving solid next-steps to take, but in the end I HAD to come to the conclution that his audio books series has been MONUMENTAL in helping me change my attitude, get more focused, and has provided enough detail to get me started on the right foot.
Some other audio books I've been filling my ears with are "Why We Want You To Be Rich" (with Donald Trump). I thought a large part of it was quite boring and did not advance my financial education much, however, I do still feel it was worth the time spent. I did pick up on a couple nuggets.
And right now I'm a finishing up Steve Scott's "Mentored By a Millionaire", which does have lots of great information, and I will certainly be listening to it many more times to absorb as much as possible.
For you:
... and so you might be asking "How can this post help me?"
Well, here is a short list of things YOU can do to get started:
1) Realize you NEED more financial education. Determine how you are currently spending your time, and find a way to include 4-8 hours a week for your financial education.
2) With the time you find (or make) in step 1, you can start to fill it by reading some books, or listening to some audio books, that will help to increase your financial intelligence. The more you learn, the more you will see there is to be learned, and the importance of more education, as well as starting to learn the actual steps to take next.
3) Put your current financial sitution in to a spread sheet, where you can look at your monthly income and expenses for the last 1-2 year period (at least). You cannot make any specific plans on HOW to get to any destination if you don't know where your current starting place is!
4) Once you can SEE what your current financial sitution is, then you can take some action to adjust your spending (and/or income) so that you free up an extra $100-$200 per month. Put that money in to a SEPERATE account each month/week! If you have NO clue how to do this, then leave a comment to this post and I will reply.
At this point, you will be starting the baby steps of your journey of a thousand miles. No journey can be completed for sure until you take the FIRST step!
5) Now you should have a small amount "extra" and you might (strongly) consider using the first bit to take your financial spreadsheet to a Financial Planner who can draw up a much more professional guide for getting you to your financial goals.
Actually, this is the step I am at now. I have asked a few friends and business networking associates about who they recommend for a Financial Planner. I've got 3 names and will be interviewing each of them this next week.
Tune in again soon for an update !
I'm not a big reader and certainly prefer "How-To" manuals over fiction for my digest of print media. However, I'm also a big believer in repetition as a means of learning, as well as the power of our subconsciousness. This has lead me to prefer audio books which I can listen to again and again, even during sleep, and this is what I've been doing for the last month.
I started with Robert Kiyosaki's book "Rich Dad, Poor Dad", and found it a great inspiration, with some great general ideas for getting my finanical life more in order. It did lack some critical detail, but I was hungry for more, and so went searching for my next few financial lessions.
Over the next few weeks I was turned on to other audio books like Napoleon Hill's book "Think and Grow Rich", which gave more great nuggets of information and clarification, as well as a good dose more of "cheerleading". Some concepts in this book also helped reenforce by growing belief in the power of our thoughts determining our reality. I would highly recommend this book along with movies such as "The Secret" and "What the Bleep Do We Know", and other resources on Quantum Physics (for those truely interested).
I ended up listening to many more of Kiyosaki's audio books, such as "Cashflow Quadrant", "Rich Dad's Guide To Investing", "Rich Kid, Smart Kid", and "Retire Young, Retire Rich". During all this learning and researching, I came across a few websites presenting some negative Kiyosaki viewpoints. I suppose on some level there were a few valid points... perhaps Kiyosaki does more generalized cheerleading than giving solid next-steps to take, but in the end I HAD to come to the conclution that his audio books series has been MONUMENTAL in helping me change my attitude, get more focused, and has provided enough detail to get me started on the right foot.
Some other audio books I've been filling my ears with are "Why We Want You To Be Rich" (with Donald Trump). I thought a large part of it was quite boring and did not advance my financial education much, however, I do still feel it was worth the time spent. I did pick up on a couple nuggets.
And right now I'm a finishing up Steve Scott's "Mentored By a Millionaire", which does have lots of great information, and I will certainly be listening to it many more times to absorb as much as possible.
For you:
... and so you might be asking "How can this post help me?"
Well, here is a short list of things YOU can do to get started:
1) Realize you NEED more financial education. Determine how you are currently spending your time, and find a way to include 4-8 hours a week for your financial education.
2) With the time you find (or make) in step 1, you can start to fill it by reading some books, or listening to some audio books, that will help to increase your financial intelligence. The more you learn, the more you will see there is to be learned, and the importance of more education, as well as starting to learn the actual steps to take next.
3) Put your current financial sitution in to a spread sheet, where you can look at your monthly income and expenses for the last 1-2 year period (at least). You cannot make any specific plans on HOW to get to any destination if you don't know where your current starting place is!
4) Once you can SEE what your current financial sitution is, then you can take some action to adjust your spending (and/or income) so that you free up an extra $100-$200 per month. Put that money in to a SEPERATE account each month/week! If you have NO clue how to do this, then leave a comment to this post and I will reply.
At this point, you will be starting the baby steps of your journey of a thousand miles. No journey can be completed for sure until you take the FIRST step!
5) Now you should have a small amount "extra" and you might (strongly) consider using the first bit to take your financial spreadsheet to a Financial Planner who can draw up a much more professional guide for getting you to your financial goals.
Actually, this is the step I am at now. I have asked a few friends and business networking associates about who they recommend for a Financial Planner. I've got 3 names and will be interviewing each of them this next week.
Tune in again soon for an update !
posted by rock808 at
1/21/2007 12:47:00 PM
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