"There's very little we learn on our own. It's usually something we've heard and then modified for our own use." Chuck Biehn CEO American Cutting Edge, Inc.

 

24 GOOD IDEAS

1. The main difference between poor and rich people is their attitude toward money.
   
   

2. Today, the most dangerous advice you can give a child is “go to school, get good grades and look for a safe secure job.”
   
   

3. Poor dad said, “The love of money is the root of all evil.”  Rich dad said, “ The lack of money is the root of all evil.
   
   

4. Poor dad said, “I can’t afford it.”  Rich dad asked,  “How can I afford it.”
   
   

5. Poor dad thought, “The rich should pay more in taxes to take care of those less fortunate.”  Rich dad said, “ Taxes punish those who produce and reward those who don’t produce.”
   
   

6. Poor dad recommended, “Study hard so you can find a good company to work for.”  Rich dad recommended, “Study hard so you can find a good company to buy.”
   
   

7. Poor dad said, “The reason I’m not rich is because I have you kids.”  Rich dad said, “The reason I must be rich is because I have you kids.”
   
   

8. Poor dad forbade the subject of money to be discussed over a meal.  Rich dad encouraged talking about money and business at the dinner table.
   
   

9. Poor dad said, “When it comes to money play it safe, don’t take risks.”  Rich dad said, “Learn to manage risk.”
   
   

10. Poor dad believed, “Our home is our largest investment and our greatest asset.”  Rich dad believed, “My house is a liability, and if your house is your largest investment, you’re in trouble.”
    
    

11. Poor dad paid his bill first; rich dad paid his bills last.
    
    

12. Poor dad believed in a company or the government taking care of your needs.  He was always concerned about:

1. Pay raises, retirement plans. medical benefits, sick leave, vacation days and other perks.

2. Tenure, job security and entitlements.

13. Rich dad believed in total financial self-reliance.
    
    

14. Poor dad said, “I’m just not interested in money.”  Rich dad said, “Money is power.”
    
    

15. Although poor dad said, “Money is not important”, he worked his entire life for money.  Rich dad said, “ I don’t work for money, money works for me.”
    
    

16. You are taxed:

1. When you earn (income tax)

2. When you save (capital gains and inflation)

3. When you spend (sales tax)

4. When you die (inheritance tax)

 

17. Professional success is no longer solely linked to academic success, as it once was.
    
    

18. More money, without a change in attitude seldom solves someone’s money problems.  “If you find you have dug yourself into a hole …stop digging.”
    
    

19. An employee who is a homeowner works for three institutions.

1. He works for someone else, thus making that person wealthy.

2. He works for the government.  The government takes its share first.

3. He works for the bank because of his mortgage and credit cared debt.

20. Net worth is the difference between your assets and liabilities – how rich you are.   Wealth is how long you can survive if you stopped working.
    
    

21. An observation:

1. The rich buy assets.

2. The poor only have expenses.

3. The middle buys liabilities that look like assets.

22. Rich dad believed, “Give and you shall receive.”  Poor dad believed, “Receive and then you give.
    
    

23. The main reason that over 90 percent of the American public struggles financially is because they play not to lose.  They don’t play to win.
    
    

24. “Everyone wants to got to heaven, but no one wants to die.”

"There's very little we learn on our own. It's usually something we've heard and then modified for our own use." Chuck Biehn CEO American Cutting Edge, Inc.