Chapter 8 Notes
Robert's Topics > Chapter 8 Notes > Becoming More Powerful
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dafirebreather - 6/3/2009 5:42:20 AM
Understanding words
Before reading rich dad poor dad-I hadn't given much thought to the words asset and liability however after reading Robert's definition of those two words-my financial outlook forever changed. The rich make their money work to fill the asset coulm while the poor work for liabilities that many times they believe are assets. The concept is so simple-once you understand the words.
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memphis - 6/3/2009 1:58:31 PM
words to be more powerful
Than what actions? I think not I think misunderstood yes words can be used in any form of war but then its conflict. This no end in sight conflict of people not spending cud go on for a very long time (I mean the long war) no not terrorism or is it? I dont know market what market if there is one everyone seems to want and find a way around them that only leads to possible disaster on the horizon. I think this has affected eceryones life but how you use it can change not your life but maybe the world.
bgibbs - 6/4/2009 2:06:46 AM
The Power of Words (to a 4 year old)
I have a 4year old boy. Since he could speak I've been teaching him simple things related to money to plant those early seeds that will hopefully stay with him as he becomes an adult. Whenever he'd receive money as a gift I would ask hime "What do we do with money?" and I taught him to say "Save it!". I was very proud of that fact until I thought harder about it. Now I've taught him to say "Invest it!". Of course, that was the simple part...now I have to teach him the four categories to invest it in.
CHAKI - 6/5/2009 12:17:49 PM
In the beginning was the Word, and the Word was with God, and the Word was God. Let my words dwell in your heart richly, for out of the abundance of the heart the mouth speaketh. For as the rain comes down, and the snow from the heavens, and does not return there, but waters the earth, and makes it bring out and bud, and give seed to the sower and bread to the eater; so shall My Word be, which goes out of My mouth; it shall not return to Me void, but it shall accomplish what I please, and it shall certainly do what I sent it to do....... And the word become flesh.

God is not a man that He should lie, neither the son of man that He should repent.

God spoke these words long time ago before this book was written, I am reading my Bible and Jesus words remain true always. Read how he spoke about money and investment in Mat 25:14-30, For it is as if a man going abroad called his own servants and gave them his goods. And to one he gave five talents, to another two, and to another one; to each according to his ability. And he went abroad at once. And going he who had received the five talents invested them, and made another five talents And likewise he who had received two, he also gained another two. But he who had received the one talent went and dug in the earth(our present savings accounts) and hid his lord's silver. After a long time the lord of those servants came and took account with them. And so he who had received five talents came and brought another five talents, saying, Lord, you delivered five talents to me. Behold, I have gained five talents above them. His lord said to him, Well done, good and faithful servant! You have been faithful over a few things; I will make you ruler over many things. Enter into the joy of your lord. He also who had received two talents came and said, Lord, you delivered two talents to me. Behold, I have gained two other talents above them. His lord said to him, Well done, good and faithful servant! You have been faithful over a few things, I will make you ruler over many things. Enter into the joy of your lord. And he who had received the one talent came and said, Lord, I knew that you were a hard man, reaping where you did not sow, and gathering where you did not scatter. And I was afraid and went and hid your talent in the earth. Lo, you have yours. His lord answered and said to him, Evil and slothful servant! You knew that I reaped where I did not sow, and gathered where I did not scatter, then you should have put my money to the exchangers, and coming I would have received my own with interest. Therefore take the talent from him and give it to him who has ten talents. For to everyone who has, more shall be given, and he will abound. But from him who has not, even that which he has shall be taken away from him. And throw the unprofitable servant into outer darkness; there shall be weeping and gnashing of teeth.
Those words have changed my life forever, they chose my friends, the books I read, and the TV shows I watch. This is because I know, WE EVENTUALLY BECOME THE CHAIN OF THE WORDS(language) THAT WE RECEIVE AND SPEAK. Any day by day I am becoming the words I put in my heart and out I speak.
I thank God for you Robert, I real appriciate what you are doing aroung the world. God bless you even more and increase you as you remain in his purpose.

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jeuell52 - 6/5/2009 10:07:58 PM
Financial Vocabulary
This has really held me back!
martine - 6/6/2009 12:02:22 AM
awakening to the reality!
Dear Mr Kiyosaki,

I'm very grateful for your work and your help . Thank you very much. Reading your books has been for me, like "turning on the switch" of the library in which all the "secrets" are written.
I began to take courses on line (2006) for investing by myself with the purpose to invest in real estate as soon as possible .When I came back from our vacations this summer,my porfolio was almost 50% down! Because of the kwnoledge I acquired I was able to react .
I just finished to re-read "Why I Want You To Be Rich", you were right and accurate! I decided to buy(last week) the cash flow game to educate my two boys(16 and 8), and I went wednesday june 3rd, to an evening presentation for your three days seminar planned for end of june. I can't wait to go,learn more,and take action! My feeling is ; I can better plan what I want to do, now that I understand how to play the game! Thank you for being the mentor of all those in need of a rich dad. May God bless your work. Martine.
Taisuke Sugahara - 6/6/2009 12:35:42 AM
Trader's Era
Thank you very much for this work.
I've been learning trading in stock market from Rich Dad Education and it really tells that traders are dominating the stock market. I'm learning more words about trading and experiencing from real game of trade.
I'll work on studying derivatives as you explained in very simple terms, which I could understand!
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InfoLover - 6/6/2009 11:23:59 AM
The impact and relevance of words to our lives.
The breadth and depth of meaning that we associate with words reflects a direct correspondance to the breadth and depth of our understanding of same. This applies to any and all contexts of vocabulary in our possession, be it generalized or specialized such as typified by those used within professions. Given that we express thoughts and concepts via vocabularies consisting of words, in themselves compact symbolic representations by which to communicate with ourselves and to others, it should be readily apparent that consistent meanings must be attributed to words by both 'sender(s)' and 'receiver(s)' for accurate communication to occur between them.

We cannot think in terms of words and concepts that are not familiar to us. It is also important to recognize that the quality of our actions, and therefore results, will rarely (if ever) exceed the quality of the thoughts that lead to them. Our relative command of vocabularies - and by inference the concepts to which they relate - imposes a range upon the prospects and limitations of our thinking, and by extension, to those actions and results that we are readily able to produce.

In his book 'Think and Grow Rich,' Napoleon Hill wrote: "Whatever the mind of man can conceive and believe it can achieve." One who lacks subject knowledge, including the words by which to contemplate and communicate such material, is ill-prepared to conceive of something, much less to believe in it sufficient to produce a result that may be accurately described as achievement. Ignorance of finance and investing is no exception to this observation. It is useful to recognize that "Chance favors the prepared mind."

Starting with defined, desired results and identifying what is required to produce them, we can see that action is required to achieve them, that conceptualization and belief are critical to justify any such action, and that knowledge serves as the foundation for both conceptualization and belief. Given the influence of our beliefs upon the outcomes we anticipate from our actions, the more congruent our beliefs are with accurate knowledge, the higher will be the prospective quality of the decisions we make, as well as the results that are born of those decisions.

Sufficient knowledge of successful methods, strategies, etc. are required to envision results that we can believe ourselves to be capable of producing. Knowledge serves to bridge the gap from an idea conceived to the results desired - not only in service as a basis upon which for us to believe; but also, through provision of understanding required to conceive of plans with potential of leading to their achievement.

Relating to an individual's finances, should one lack an accurate and sufficiently comprehensive base of financial knowledge, their prospects for a healthy and satisfying financial disposition are bleak. Unaware of alternatives, traditional financial 'wisdom' leads most to unwittingly entrust their investments to vehicles of investment over which they have virtually no control. Recent economic events have clearly established that [financial] ignorance is anything but 'bliss.' For most, the investment of time and effort to acquire financial knowledge would have been far less costly to them than to have experienced the lessons served to them by recent events.
julieo - 6/6/2009 4:40:20 PM
didn't understand most of the chapter
I have to say I am just coming into this project on this chapter and I don't have a clue what you are talking about. I am a 50yo single woman with basically nothing in my savings and retirement account and am only just starting to learn about making money and having money. I was never taught anything and have been so afraid of making money and having to invest it that I just don't. I don't have a clue what a hedge fund is or even a mutual fund really.

I have just gotten by paycheck to paycheck and am way behind but am positive I can change it fairly quickly now that I am learning more. I feel like my friends 6 year old who is just learning to read and is so excited about reading chapter books. It is opening up whole new world and I am very hungry for more information.

I also just really got how my thoughts are what is holding me back around all this and my beliefs about money and having it have been a way for me to remain a victim rather than taking responsibility.
leia823 - 6/6/2009 4:55:02 PM
I understand what you mean when you talk about words defining your attitude, life, etc. However I disagree with how you use the quote from the bible "The Word became Flesh" The subject is Jesus, he is the word made flesh. Our words in no way come as close to the perfection that is Jesus coming down to Earth for us, to become flesh to same us from the sins of the flesh. God does want us to be successful, he wants us to use our talents to do more good in the world. Money is mentioned more in the bible than any other subject, it is important for living but not to come before God. Love God, respect money.

While this isn't as succint I believe it's a better way to make your point "Watch you thoughts; they become words. Watch your words; they become actions. Watch your actions; they become habits. Watch your habits; they become your character. Watch your character; it becomes your destiny" by Frank Outlaw.
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