Money is not just conventional units for which one can get goods and services. But it is also good food for thought. I spent many years studying this topic: read books and talked with successful investors who actually generate profits that run into hundreds of thousands - and with some – millions of dollars.
As a result, I have discovered an important secret that I am ready to share with you. The most amazing thing about it is that this secret is in full view of everybody, but 90% of people pass by thinking that something so evident cannot be a big find. This is a paradox - there is an obvious road to wealth which very few people take. But after I demonstrate its advantages you are unlikely to opt for a different one.
THE ABC'S OF FINANCE
This is not a lesson on How and Where to Invest Money. We will review what investments, profits, and assets really stand for. A new and most curious theory will help us in this exercise.
Unfortunately, very few schools and universities offer courses in the ABC's of finance. So millions of people have no idea about basic economic processes and probably have come to terms with their low salaries, meager pensions, humiliating benefits, and ever-lasting lack of money long ago.
Together let's think about how big money is made. Here is the first step to success: think what money means for you, how much you need, and what for.
One, two, three, five or ten million? To lead a free life, buy expensive and fashionable things? To live in comfortable conditions? To buy a car or an apartment? To go on a trip with your family or friends?
Let us now remember what an individual or an organization has:
1. Income
2. Assets 3. Liabilities
Robert Kiyosaki says that it’s essential to make a distinction between assets and liabilities. For example, many believe that a house or a car are their assets.
But in fact, they are liabilities, on whose upkeep you have to regularly spend money. But the situation changes when you rent them out and thanks to this start earning a regular income.
Your money should work for you generating more money. Banks are unlikely to ask you to show your school diploma or other educational credentials but they will, without a doubt, be interested in your balance sheet. For it shows whether you can handle money. And if you can, you will get as much money as you want. Otherwise you may get nothing.
To be continued...
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