Tuesday, October 24, 2006

Why We Want You To Be Rich Part 2

Before I continue with today's post, I want to underscore that I am not summarizing Why We Want You to Be Rich. I am simply sharing aspects of the book I find interesting or thought provoking. I think every book of this kind should be read more than once to truly grasp all the concepts being presented. I have found that going back and re-reading Prophecy, Rich Dad and other books, there were different elements that strike a chord because of the differing stages in my life.

3 Types of Investors: See if you can recognize yourself and the people around you in these three investors.
1. People who don't invest at all (and expect family, the government or their company to look after them ... see previous info on entitlement)
2. People who invest not to lose (safe investments and a saver mentality)
3. People who invest to win (those who invest in education, higher returns and greater control).

When Pete and I started RD Coaching this year, our goal was to further our education. We had set a goal to win ... within three years ... but knew we needed more education and experience to get there. So, we invested in the education we knew we needed to win.

Interestingly, Investing to Win, is a large section of this new book. Both Robert and Donald underscore that those who are investing not to lose will. Financial experts (who as Donald explains takes the subway to work and advise those driving BMWs) teach people to play it safe. "Those experts aren't focussed on winning. They are focussed on not losing. "

When you look at the so called safe investments, Robert and Donald say they are actually very risky. People socking their money away into these vehicles will get a rude awakening when retirement hits ... all the while they cling to job security ... and we all know there is no such thing as job security.

The majority of people are playing the game of life not to lose ... people like Robert and Donald are playing to win.

I found it very interesting that, in an interview with a reporter Robert confessed he hadn't set any goals for this year. When asked why (it goes against his teachings), he said he doesn't know what else to ask for ... then in the next breathe said: I think I need to dream wilder dreams.

Robert is not satisfied to stay in one place but is already looking beyond to see what else is possible. He reminds me of another business person I recently interviewed who said: I think I need to dream harder dreams because I keep reaching mine.

Living life beyond our dreams seems like a wonderful goal ... if you dare to take it on, but I fear few are up to the challenge. Are you?

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