"And what are the results?" I asked
"Well, he got... "And what are the results?" I asked
"Well, he got lucky early in his trading, but lost all he gained a few days laterThen, he really got interestedToday, I would say he is down $2,000, but his interest is upHe has read all the books I bought him and he's gone to the library to get moreHe reads the Wall Street Journal voraciously, watching for indicators, and he watches CNBC instead of MTVHe's got only $1,000 left, but his interest and learning are sky highHe knows that if he loses that money, he walks for two more yearsBut he does not seem to careHe even seems uninterested in getting a car because he's found a game that is more fun
"What happens if he loses all the money?" I asked
"We'll cross that bridge
fake rolex swiss when we get to itI'd rather have him lose everything now rather than wait till he's our age to risk losing everythingAnd besides, that is the best $3,000 I've ever spent on his educationWhat he is learning will serve him for life, and he seems to have gained a new respect for the power of moneyI think he's stopped the burning of holes in his pockets
As I said in the section "Pay Yourself First," if a person cannot master the power of self-discipline, it is best not to try to get richFor while the process of developing cash flow from an asset column in theory is easy, it is the mental fortitude of directing money that is hardDue to external temptations, it is much easier in today's consumer world to simply
rolex watch knock off blow it out the expense columnBecause of weak mental fortitude, that money flows into the paths of least resistanceThat is the cause of poverty and financial struggle
I gave this numerical example of financial intelligence, in this case the ability to direct money to make more money
If we gave 100 people $10,000 at the start of the year, I gave my opinion that at the end of the year:
80 would have nothing leftIn fact, many would have created I greater debt by making a down payment on a new car, refrigerator, TV, VCR or a holiday16 would have increased that $10,000 by 5 percent to 10 percent4 would have increased it to $20,000 or into the millions
We go to school to learn a profession so we can work for
black prada leather handbag moneyIt is my opinion that it is also important to learn how to have money work for you
I love my luxuries as much as anyone elseThe difference is, some people buy their luxuries on creditIt's the keep-up-with-the-Joneses trapWhen I wanted to buy a Porsche, the easy road would have been to call my banker and get a loanInstead of choosing to focus in the liability column, I chose to focus in the asset column
As a habit, I used my desire to consume to inspire and motivate my financial genius to invest
Too often today, we focus to borrowing money to get the things we want instead of focusing on creating money One is easier in the short term, but harder in the long termIt's a bad habit that we as individuals and as a
chloe handbag nation have gotten intoRemember, the easy road often becomes hard, and the hard road often becomes easy
The earlier you can train yourself and those you love to be masters of money, the betterMoney is a powerful forceUnfortunately, people use the power of money against them If your financial intelligence is low, money will run all over youIt will be smarter than you If money is smarter than you, you will work for it all your life
To be the master of money, you need to be smarter than itThen money will do as it is told Instead of being a slave to it, you will be the master of itThat is financial intelligenceTHE NEED FOR HEROES: The power of mythWhen I was a kid, I greatly admired Willie Mays, Hank Aaron, Yogi
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