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Chapter 8 Notes
Robert's Topics > Chapter 8 Notes > Becoming More Powerful
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Razak Ahmed - 5/29/2009 8:55:09 PM
Action speaks louder than words
After reading your renowned book rich dad, poor dad and also some portion of this book, i can know boast of my knowledge in all aspect of life. Reading opens the brain to knew ideas to enhance your preception about the unknown. Using your own ideology to attain a goal is a special thing to do. Nothing has a meaning ascept the meaning we give it. A cenario may be the word asset, this word has a define meaning depending on the invididual analysing it.
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BlackDogsRule - 5/29/2009 9:42:59 PM
Words
Words can be powerful things or a waste of oxygen. The more you improve your listening and reading skills, the more you will be able to tell the difference. My husband and I were lucky enough to listen to a mentor of ours and follow his advice to buy rental homes. It went against everything I had been taught in school and by my parents (both teachers) but they got me to think outside the box. To this date, we are the only couple who has actually taken a step forward and followed thru on his advice. Listening to his words has secured our retirement and opened our eyes to other investment opportunities. So far, I have read five of Robert's books and try to read a couple finanical books each month. You learn to really pick out the important words and lessons, it just takes time. I wish I had known what I know now when I was in my 20's. Better late than never.
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foxhound67 - 5/29/2009 11:30:04 PM
words
Kia Ora Robert,

Actually using the words you use have for now caused me nothing but frustration in particular understanding what an asset is. The banks etc cannot see it so won't lend even though when you look at it from how you play cash flow it makes perfect sense.

As you prepare to head to NZ it might interest you that a bank here offered investors a mutual fund. now at the time the investors were looking at something 'low risk' & that is how it was sold. The bank is denying this, but recently letters have surfaced from those assigned to sell this product on behalf of the bank saying exactly that. So prosecution is looking likely as a regulatory body is investigating.

Personally now having studied, it is not where I look. As I have said before after being turned down for loans that make perfect cash flow sense, I will generally get information for a new credit card or an investment offering from the bank.

just so frustrating, but keep soldiering on as I know from cash flow that somewhere the opportunity will come to make those words come to life.
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claudoug - 5/30/2009 12:08:24 AM
Words in any field of study
Words in any field of study is important in understanding the concept to be learned. For example root in mathematics has a different meaning in science. Understanding the terms used in finance is important in learning what to ask for when you need it. I just learn that the bank is not in the business of real estate so the correct word to use was; performing assests and all this time I did not know. I am educating my self on the correct terminology to use so I am able to understand what is to be learn
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mlfsigua - 5/30/2009 3:13:51 AM
Becoming More Powerful
How have words and my understanding of them impacted my life and my finances.

I have read few of your books. Rich Dad, Poor Dad. Guide to Investing (not yet finished) and Guide to Becoming Rich.

With these books, I got a new kind of financial education. I got a new kind of thinking. From the new kind of thinking, new words emanated. Words became flesh.

I always remind myself that assets are those which put money in your pocket and liabilities are those that take away money from your pocket. I also remind myself to invest not for the capital gains but for the cash flow.

I am a business owner. I own a security agency (main and branch), a pawnshop, few commercial spaces and a condominium unit for rent. I am a widow with 3 kids, thus, I got life insurances for myself (and my kids), pension plans and health insurances (all participating)as my safety net. My properties have non-life insurances too. I have all these before I read your books.

But because I read your books, I started evaluating the cash flow of my businesses. All have good cash flow except for the security agency (main) where bad debts (terminated clients did not pay) gave the business a bad cash flow. If I resort to legal suits, this will even eat up my cash flow. So I decided not to but just continue collecting even if takes a lifetime. I also started monitoring my accounts receivable (myself)and act on it when it ages 2 months.

When I read in your books that every time I write a check (Credit) I make someone richer and I make mine poorer, I started to watch my expenses through my credit cards. I started to identify which 3 credit cards I have to retain (based on the perks I would receive), pay not the minimum payment but the whole outstanding balance (to avoid interest and financial charges) and use the credit cards to my advantage (to consolidate my expenses, avail of the zero percent interest payable in a number of months, discounts, mileage, emergency situation and other freebies). Credit cards earn from me through the membership fees only.

Because I read not to invest for the capital gains but for the cash flow, I backed out from buying a pre-selling condominium unit being developed by a reputable developer but instead I am looking for an investment that will generate me positive cash flow.

Because I read your books, I am now restless with my few savings.. I have to think now of expanding what I have and think of how my current investments would give me more free time to be able to expand. (computerization)

I am also attending seminars on stocks to make me literate on this.

Words I got from reading your books and how I understood them impacted my life in a positive way... I am guided and more clear on how to handle my finances.

Thank you.

From the Philippines..
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Kindjal - 5/30/2009 4:49:09 AM
Robert, Today I came across
Robert,
Today I came across very powerful words about money.
I am rereading Atlas Shrugged (I read it in the 1990's) and today I read chapter II of Part II.
Francisco D'Anconia adresses the guests of corrupt businessman James Taggart's wedding and explains exactly what money it. "Wealth is the product of man's capacity to think," is only the start. Ayn Rand brilliantly addresses every dysfunctional attitude about money in this speech, and reveals the profound psychology of why some people make money while others lose it.
In short money and the root of money is GOOD to the rational Human Being who says "I Can."
Ayn Rand makes the brilliant observation that money is the only means to prevent tyranny.
This book Atlas Shrugged is a must read, if only this part of the story. This will remove any doubt in any one's mind about money, and help reach that point of mental clarity where it is possible to create a solid plan for creating wealth.

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10billion - 5/30/2009 5:52:31 AM
Powerful Words descibing the Future, 10billionbillionaires Club.
Hi Robert ... and thanks again, I'm enjoying the Conspiracy very much and at the stage in my project Your Healthy Planet.com where I am starting to leverage my education (much of it started through your programs) and in fact it is the word "leverage" that has perhaps had the biggest impact on my financial education.

I am also a student of Buckminster Fuller's and his book GRUNCH of Giants is often open on my desk, and Critical Path not far away.

I could have asked this question of you in the previous chapter Robert, however here it is now ...

Given Dr Fuller's stand that it is "all of us, or none of us" and that this will only happen by creating a new context (or fruit bowl) of "abundance", rather than the false existing scarcity context, isn't the focus on financial education still only going to produce a slightly different version of the existing conspiracy game as I think someone else had commented?

I have friends who have read all of your books, plus many others on the subjects of real estate investing in particular and own multiple properties but who are selfish, independent and very fearful of the future.

I still have (in my wallet) a card you gave me at my Creating Wealth seminar in Melbourne, where we declared ourselves to be "MILLIONAIRES FOR WORLD PEACE".

On the back of the card it says "To Always GO FOR IT -- Being of value to ALL Humans -- Striving to always add more value -- Maintaining my millionaire's passbook -- Tithing, "I give what I want" and, -- Daring courageously.

Where is the DARING COURAGEOUSLY in all of this financial education Robert?

Surely as a student of Bucky it's got to be "ALL OF US" and not "you or I", and that's only going to occur with a new context isn't it?
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yehsharona - 5/30/2009 3:23:41 PM
rich dad dictionary???
Robert,
Have you ever considered.....would you PLEASE..... write a financial and investing dictionary???
I know there's a small glossary at the back of Rich Woman....but it's just that....small.
Your definitions, explanations, and examples are wonderfully easy to comprehend and therefor REMEMBER.

Usually when I am talking to people and have a question about a term they've used....I ask them to explain it.....but usually it still doesn't make any sense... sometimes I think that it's because they THEMSELVES don't know what they are really talking about and other times b/c they don't want ME to know what they're talking about.

thanks
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dhanly - 5/30/2009 9:13:21 PM
Power of Words
In a dramatic way. Recently I read a book by a Sydney author defining the value of money to a person as generally one(sometimes 2) of:

- Prosperity
- Security
- Freedom

Once you honour your primary value and you persue it responsibly then money becomes a tool to fulfill it.

These words have had a powerful affect on me.

Dave
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BP0731 - 5/31/2009 3:50:44 AM
Confidence and Strength in Financial Words
The words I have accumulated over the years have greatly increased my confidence and provided a since of power. I feel much more confident in my ability to make financial decisions and accumulate great wealth. The best words I learned are "the road to wealth is having a definite plan" because no matter how much money I wind up accumulating, even if I won the lottery, as long as I follow my plan with discipline, I will end up growing wealthy and know how to manage the windfall. I can truely say that I am ready to become rich because I have a "plan" or "definite chief aim" or "definite purpose".
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