"Rich Dad Poor Dad" Reading Notes ~ Lesson 5 The Investment of Rich People

>> In real life, people often rely on courage rather than wisdom to get to the top position.

No one is useless, but it takes you to develop it

>> We all have great potential – it's a gift from God.

>> Excessive fear and self-doubt are the biggest factors that ruin our talents

>> Becoming a financial genius requires both expertise and courage

>> Why risk it? Why must you never stop improving your financial quotient? Why do I have to know how to finance? My answer to this is: "Just to get more choices." ”

Poor information

>> Information is wealth

>> understand the interaction between the income statement and the balance sheet, and understand how cash flows between the two statements, in addition to understanding that by increasing the monthly cash flow on the asset item, your monthly cash flow exceeds the amount of monthly expenditure, which leads to wealth growth

>> teaches players to think and create new, different options

>> Limiting your chances of choice is tantamount to sticking to old ideas.

>> If money is not a real asset, what is it? ”

"It's something we all recognize

>> Our only and most important asset is our minds. If well trained, it can create a lot of wealth.

>> In the information age, money grows exponentially, and some people can get rich overnight with just a few ideas and so-called contracts.

>> That's why I want to improve my financial quotient and develop the most powerful asset I have. I want to be with the brave, and I don't want to be with the backwards

◆ Discuss the learning session

>> the higher your financial quotient – which, of course, takes time – the more investment opportunities you will be able to uncover.

>> Don't be afraid to fail, because failure is also part of success.

There are generally two types of investors: (1) people who make a package of investments (such as financial planners) ;(2) people who create investment opportunities themselves (professional investors).

>> If you want to be a second type of investor, you have to improve 3 main skills: first, how to find opportunities that others miss; second, how to raise money; and third, how to organize savvy people and hire them to work for you. Risks are everywhere, and you must learn to manage them and don't always want to avoid them.

>> If you know what you're doing, you're not gambling; if you're putting money into a deal and just praying, that's gambling.

Good chance is to see it with your brain and not with your eyes.

Understand the importance of financial intelligence, this is your greatest asset. Not knowing this will be the biggest risk you face.